Pinnacle Bank (AZ) Welcomes Spring With CD Rate Hikes


UPDATE 3/28/2016: Pinnacle Bank no longer accepts out-of-state applications.

Availability: The primary market area includes the Phoenix and Scottsdale area, although CDs can be opened by mail for out-of-state customers.

Pinnacle Bank (Arizona) has welcomed Spring by raising the rates on all of its CDs, with the 1-year CD (1.50% APY), 18-month CD (1.75% APY), and 2-year CD (2.00% APY) being the most competitive. The minimum deposit of any of these CDs is $1k, with no balance cap.

1.75%$1k-Pinnacle Bank (AZ)2 Year CD
1.75%$1k-Pinnacle Bank (AZ)2 Year IRA CD
1.50%$1k-Pinnacle Bank (AZ)18 Month CD
1.50%$1k-Pinnacle Bank (AZ)18 Month IRA CD
1.25%$1k-Pinnacle Bank (AZ)1 Year CD
1.25%$1k-Pinnacle Bank (AZ)1 Year IRA CD
Accounts mentioned in this post. Rates as of December 14, 2017.

All of Pinnacle Bank’s CDs are available as IRAs (Traditional) earning the same APYs, with the same funding requirements.

According to CSR, the Early Withdrawal Penalty (EWP) for CDs with terms of 12 months or less is 3 months interest; CDs with terms of 18 months or greater carry an EWP of 6 months interest.


Headquartered in Scottsdale, Pinnacle Bank is a business-oriented institution serving small businesses and the general community in the Phoenix and Scottsdale areas, including the Camelback corridor.

In a phone conversation today with a very helpful Branch Manager, I confirmed that Pinnacle Bank will open CDs for out-of-state customers via snail mail, with signatures notarized in accordance with the Patriot Act.

The Branch Manager also emailed me a preliminary worksheet that "captures the Account Signer’s Identifying Information." The completed worksheet, along with copies of photo ID and a secondary ID, is then returned to Pinnacle Bank to initiate the opening of the CD.

If you prefer a brick-and-mortar experience, a CD can be opened at either of two Arizona branches located in Scottsdale and Phoenix. Currently, Pinnacle Bank’s online banking platform is limited to account management and bill payment services.

Bank Overview

Pinnacle Bank (FDIC Certificate # 58186) has an overall health grade of "A+" at, with a Texas ratio of 4.73% (excellent) based on December 31, 2015 data. In the past year, Pinnacle Bank has increased its total deposits by $25.34 Million, an excellent annual growth rate of 22.56%. Please refer to our financial overview of Pinnacle Bank for more details.

Established in 2005, Pinnacle Bank was formed by local business leaders who own and manage their businesses in Arizona’s Valley of the Sun. Backed by over 275 shareholders (primarily local) that represent a cross section of the business community, Pinnacle Bank has grown in ten years to become the 11th largest bank in Arizona, with assets in excess of $159 Million.

How the CDs Compare

When compared to the 138 similar length-of-term CDs tracked by that require a similar minimum deposit and are available nationally, Pinnacle Bank’s 1-Year CD currently ranks first.

When compared to the 104 similar length-of-term CDs tracked by that require a similar minimum deposit and are available nationally, Pinnacle Bank’s 18-Month CD currently ranks first.

When compared to the 132 similar length-of-term CDs tracked by that require a similar minimum deposit and are available nationally, Pinnacle Bank’s 2-Year CD currently ranks first.

The above rates are accurate as of 3/24/2016.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table or our new Rates Map page.

Related Pages: Pinnacle Bank (AZ), Phoenix, IRA rates

Bankster   |     |   Comment #1
"With signatures notarized in accordance with the Patriot Act"?  I can't find a reference to notarizing my application documents in USA PATRIOT or in the regulations implementing section 326.  Sounds pretty stupid, but then the evil doers are probably rushing to open these hot CDs.
Anonymous   |     |   Comment #2
Good rate on 2 year but not worth the hassle of out of state investors having to get signatures notariized
Lee Roy Jabar
Lee Roy Jabar   |     |   Comment #3
I called to open a CD and the Phoenix office told me they are not offering to those living out-of-state.
Anonymous   |     |   Comment #4
That's incorrect. I'm an out-of-stater and have been communicating back and forth by email with the CSR who is putting together my account.
zz   |     |   Comment #5
I was also told they are not offering to those living out of state. I believe they are helping you, I'm just saying that you telling Lee that they were incorrect was incorrect.
Anonymous   |     |   Comment #6
Hmmmm.  Sounds as if e-mail is the smart way to communicate with this bank.  They don't have a toll-free number, either, so telephoning is a "fail" for a couple of reasons.
Anonymous   |     |   Comment #7
Confusion at this point with this institution does not bode well for future interaction in regard to your investments with them. Is a ''red flag'' to me.
J_Norton   |     |   Comment #8
I called just now and the nice lady that answers the phone said that they do not offer CDs to out of state people.
Bozo   |     |   Comment #9
This reminds me of National Bank of Kansas City (NBKC) a few years back. They advertised a great CD rate, only to have Ken Tumin pick it up and all heck broke loose. I was acquainted with one of the Bank officers at the time. She said her phone never stopped ringing. After a few days, they cut off all out-of-state depositors.
Pinnacle Bank (AZ) Offer Competitive 18-month and 2-year CDs

1.50% APY is the top CD rate offered by Pinnacle Bank (Arizona); it’s also the rate for Pinnacle Bank’s 18-month, 2-, 3-, 4-, and 5-year CDs. Obviously, the shorter the term the better the rate, and the 18-month and 2-year CDs are definitely competitive.

The minimum opening deposit for either the 18-month or 2-year CD is $1K, with no maximum balance cap. According to CSR, the Early Withdrawal Penalty for both CD is the same: six months interest.


Update 12/24/14: It has been reported that...

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