2.50% 6-Month CD & 2.65% 9-Month CD at Plaza Bank in California

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Plaza Bank is offering three competitive CD rates: 2.50% APY for 6 months, 2.65% APY for 9 months and 2.75% APY for 12 months. Minimum deposit is $25,000, and new money is required. These rates are listed on the bank's home page as of 4/24/09. According to the small print, these rates are scheduled to last through 5/31/09.

It appears a branch visit is required. It's a small bank with an office located in Irvine, California.

The bank's ratings for safety and soundness are weak: 1 star (troubled) at BauerFinancial and 1 star (lowest) at Bankrate. Both ratings are based on 12/31/08 financial data. It's a fairly new bank that was established in 2005. It's a member FDIC (FDIC Certificate # 58100).

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Comments
4.75% 60-Month CD at a Chicago Bank (Plaza).
Update 2/09/08: The CD rates have fallen. Please check the bank's website for the latest rates.

Plaza Bank has some competitive CD rates on its longer terms. The highest is a 4.75% APY for a 5-year term. The minimum deposit is $1,000. There's also a promotional 10-month 4% CD with a $5K minimum deposit, but this requires a checking account with direct deposit. Without the checking the yield is 3.75% APY. The rate table has a Feb 4, 2008 date so hopefully these rates will last awhile.

Branches are located in Chicago...



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