Pinnacle Bank (AZ) Boosts 5-Year CD APY


Deal Summary: 5-year CD (3.25% APY), 4-year CD (3.00% APY), $1k minimum deposit.

Availability: Arizona

In early February, Pinnacle Bank (Pinnacle) had become the fourth member of the 3 For 5 Club, when its 5-year CD reach an all-time high of 3.00% APY. Since I first coined the phrase in January, membership in the 3 For 5 Club has grown to more than 90 banks and credit unions. Pinnacle has separated from the APY peloton this week by raising the rate on its 5-year CD (3.25% APY) and 4-year CD (3.00% APY). Either CD can be opened with a minimum $1k deposit, with no stated balance cap.

The CDs are also available as IRAs (Traditional) earning the same APY, with the same funding requirements.

According to CSR, the Early Withdrawal Penalty for all Pinnacle CDs is 6 months interest, which is quite mild and advantageous for long-term CDs. DA’s Early Withdrawal Penalty Calculator shows what the effective yields would be on a month-by-month basis for the 5-year CD. For example,

  • 2.88% APY – closed at 4 years
  • 2.75% APY – closed at 3 years
  • 2.47% APY – closed at 2 years
  • 2.20% APY – closed at 18 months


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

Since I last wrote about Pinnacle Bank, the Bank has begun offering its CDs to all Arizona residents. CDs can be opened at any of three Arizona branches located in Phoenix (2) and Scottsdale or by calling 480.609.0055.

CSR stated a preliminary worksheet that “captures the Account Signer’s Identifying Information," is available on request to facilitate opening a CD. This same identifying information can also be given over the phone, prior to an actual branch visit.

Bank Overview

Pinnacle Bank has an overall health grade of "B+" at, with a Texas Ratio of 3.27% (excellent) based on December 31, 2017 data. The Bank has an excellent annual capitalization level (14.80%), the resulting of holding $190.43 million in assets with $28.19 million in equity. Please refer to our financial overview of Pinnacle Bank (FDIC Certificate # 58186) for more details.

Established in 2005, Pinnacle Bank was formed by local business leaders who owned and managed 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 13 years to become the eighth largest bank in Arizona, with deposits in excess of $167 million.

How the CDs Compare

When compared to the 232 similar length-of-term CDs tracked by that require a similar minimum deposit and are available within the Bank’s market area, Pinnacle Bank’s 5-Year CD APY currently shares the top spot with Connexus Credit Union’s 60-Month Certificate APY.

When compared to the 213 similar length-of-term CDs tracked by that require a similar minimum deposit and are available within the Bank’s market area, Pinnacle Bank’s 4-Year CD APY currently shares the top spot with Connexus Credit Union’s 42-Month Certificate APY.

The above rates are accurate as of 5/25/2018.

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

Related Pages: Phoenix CD rates, 5-year CD rates

The Mighty Sven
  |     |   Comment #1
This is good news indeed. Sharonview aside, getting these stubborn American banks and credit unions to BREAK the three for five barrier in a meaningful manner is like pulling teeth.
Hairy Granny
  |     |   Comment #2
Wow! Thanks!
  |     |   Comment #3
Not yet anything to be grateful for, - and no "wow" factor whatsoever with me (more of a groan). 3% only deserves my money for a year or less.
  |     |   Comment #4
Funny, how just a few short months ago people were just wishing for CD rates to reach 3%. And now that they generally have........................
  |     |   Comment #5
Though I somewhat regret now not allocating funds to Sharonview's 4% 5+ year CD (in fact I intended to but didn't act quickly enough before it was withdrawn), resisting Andrews FCU 3% 7 year offer of a year and a half ago is something I more than ever believe was most prudent. 3% now just isn't what it was in the 2017/18 transition, and 6 month EWP notwithstanding I wonder how many depositors here now question the wisdom of rushing into that, with 5+ long years now still to run.
Hairy Fred
  |     |   Comment #6
Wow!!! Thanks!!!!
  |     |   Comment #7
Full disclosure - I bought both the recent SharonView CDs and the much earlier 2016 Andrews CDs.

Regrets re. Andrews CDs? Nope. I bought these almost 19 months ago.

As of today, Ken's calculator shows that if I were to cash out today at the listed 6 months EWP, I would make 2.09%. We all know that most bond markets (US and foreign) have crashed and burned recently. So... aside from some equity markets, with their various risks, etc., please tell me in what FDIC- or NCUA-insured investment I would have made this much in the past 19 months?

I'm anxiously awaiting your response....
Deplorable 1
  |     |   Comment #8
Insight prepaid debit card 5% FDIC insured savings account $5,000 cap plus any accrued interest. I have 8 of them. Also Netspend savings accounts 5% FDIC insured up to $1,000 I have 10 of these. All totaled that's about $54,000 earning 5% for the last 19 months with the interest.
  |     |   Comment #10
That's a great rate. But, didn't you post, within the last several days, that for one of these types of accounts, the financial institution offering it had decided to stop offering it, or at least make some type of change that would make it less profitable? (Admittedly, I may have forgotten some of the details here.)
deplorable 1
  |     |   Comment #11
@111: Well they are still earning 5% for the time being. So far Insight has just announced they are ending it for new customers. I was just going back 19 months per your post. I thought that I could open more that 4 accounts per individual so basically a uncapped 5% but 4 was the limit. This is why I missed out on the 4% CD. I didn't post this before because I wasn't sure if it was going to stick around or if it was capped. As soon as I found out there was a limit they killed it for new customers.
Deplorable 1
  |     |   Comment #9
I procrastinated on the Sharonview 4% CD as well and regret it. Don't worry I think we will have another opportunity real soon and who knows maybe it will be another add-on.
Pinnacle Bank (AZ) 5-Year CD Rates Jumps
Deal Summary: 5-year CD, 3.00% APY, $1k minimum deposit.

Availability: Market area covers the Phoenix and Scottsdale area, including the Camelback corridor.

Pinnacle Bank (Arizona) has become the fourth member of the “3.00% 5-Year Club.” (The other three are Connexus CU, Illinois’ Prairieland FCU, and Oklahoma-based RCB Bank.) The minimum opening deposit is $1k, with no stated balance cap.

It should be no surprise that the 3.00% APY is the 5-year CD’s highest rate since DA started tracking Pinnacle Bank's products in 2011. In the...

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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.

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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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