Poppy Bank (CA) Offers 4.00% APY On Three Short-Term CDs


Deal Summary: 12-month CD, 4.00% APY, $1k minimum deposit

Availability: California

Following recent rate increases, Poppy Bank is currently offering three 4.00% APY CDs: 6-month, 9-month, and 12-month. The minimum opening deposit for any Poppy Bank CD is $1k, with no stated balance cap. According to CSR, only personal CDs can be opened; business account and trust account CDs are not allowed.

5.00%$1k-Poppy Bank12 Month CD
5.00%$1k-Poppy Bank6 Month CD
5.00%$1k-Poppy Bank9 Month CD
5.00%$1k-Poppy Bank6 Month IRA
5.00%$1k-Poppy Bank12 Month IRA
Rates as of September 29, 2023.

The 6-month and 12-month CDs are also available as IRA CDs (Traditional and Roth), earning the same 4.00% APY with the same $1k opening deposit requirement.

Last week’s rate hikes were definitely substantial, with 200, 150, and 100 bps added to the 6-month, 9-month, and 12-month CDs, respectively.

The CD Truth-in-Savings (TIS) disclosure is not listed on Poppy Bank’s website. CSR stated a copy of the TIS would be provided after account opening, which really doesn’t help when trying to do due diligence before opening a CD. According to CSR, partial withdrawals are allowed, with the following Early Withdrawal Penalties applying:

  • 30 days of interest – 6-month CD
  • 90 days of interest – 9-month CD and 12-month CD

Interest is compounded daily and credited monthly and can be withdrawn penalty-free at any time.

Funding a CD can be done by ACH, wire transfer, or check. Maturing funds will be distributed by cashier’s check to the address on file, wire transfer, or deposited into a Poppy Bank savings or checking account. There is a seven day grace period before a CD automatically renews at the then-current rate.

Unlimited beneficiaries (with equal shares) can be designated, with full legal name, DOB, and Social Security number required for each named beneficiary.


Headquartered in Santa Rosa, California, Poppy Bank currently offers its CD product line to U.S. citizens and residents aliens who live in California. For a short time, Poppy Bank offered CDs online to a nationwide market area, but that was discontinued in early 2022. (When I called Poppy Bank yesterday, I was hoping the CDs would again be available nationwide. I was disappointed.)

CDs can only be opened in-branch at any of 16 Northern California branches located in Alameda, Corte Madera, Menlo Park, Milpitas, Napa, Petaluma, Pleasanton, Roseville, San Francisco, San Rafael, Santa Rosa (4), Walnut Creek, and Windsor, or four Southern California branches located in Costa Mesa, La Jolla, Long Beach, and Los Angeles.

Bank Overview

Poppy Bank has an overall health rating of "A" at DepositAccounts.com, with a Texas Ratio of 10.85% (excellent), based on June 30, 2022 data. In the past year, the Bank has increased its total non-brokered deposits by $227.19 million, an excellent annual growth rate of 7.09%. Please refer to our financial overview of Poppy Bank (FDIC Certificate # 57903) for more details.

Originally known as First Community Bank, Poppy Bank was founded in 2005 by nine prominent San Francisco area business leaders. The Bank re-branded as Poppy Bank in November 2017 to avoid marketplace confusion, although the parent company name (First Bank Community Holdings) has not changed. According to Poppy Bank CEO, Khalid Acheckzai,

There are thirteen banks named “First Community Bank” in the United States with 157 branch locations. As we expanded, we wanted to distinguish our excellent products and services from our competitors. Changing our name to “Poppy Bank” is unique and an exciting step forward on our road to continued success.

The Bank’s footprint expanded into Southern California with the 2018 acquisition of Blue Gate Bank (Costa Mesa). Currently the 32st largest bank headquartered in California, Poppy Bank has deposits in excess of $3.6 billion and nearly 21,000 customer accounts.

How the 12-Month CD Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the market area and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the Poppy Bank 12-Month CD. The following table compares the 12-Month CD to the two highest-rate CDs from other banks and the two highest-rate CDs from banks.

The above information and rates are accurate as of 10/6/2022.

To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.

Related Pages: Los Angeles CD rates, San Francisco Bay CD rates, Sacramento CD rates, 1-year CD rates

  |     |   Comment #1
What does it mean when it is called a "fixed" CD? The rate on most CDs is fixed for the term, but they are not all being called "fixed."
  |     |   Comment #2
The Corte Madera branch is in a tiny space inside Safeway. Most of the online reviews are mostly negative, and about the same issues: difficulty opening an account, inability to reach customer service, and lack of details on terms, and so on. Not worth the headache.
  |     |   Comment #3
Too bad it's only local a 6 month 4% CD is perfect in this rising rate environment.
  |     |   Comment #6
D1, Why do u not take advantage of risk free US Treasuries at commensurate rates instead?
  |     |   Comment #5
Had a CD with them a few years ago, no problems at all. Great rate, but yes you do have to be in California. Could be worse.
  |     |   Comment #7
This bank is not prepared to handle the volume of deposits that come their way when they have a product with the highest rate available in its class.

Ran into this in December when they were offering 1% for a 12-month CD when leading rates at other institutions were around 0.75%. They will take 10+ business to open an account, and they're kind of brain dead when it comes to signature cards as they will require you send one in for every CD opened.

So, unless you can actually visit a B&M branch and get them to open a CD that day, best to stay away.
  |     |   Comment #8
Sorry. Just realized the post says in-branch opening only. Checked the web site, and you cannot open online. Still, my comments stand in the event they do offer CDs online again.
  |     |   Comment #9
VERY BAD Branch Experience: Went to a local branch(a couple of miles away) with ID and check book to open promotion CDs. They dont have staff to open a new account for the next one month. They gave me an appointment for November.
They dont allow it to open online also.
Its a successful promotion for a failure. Poooopy Experience.
  |     |   Comment #10
Following is an update to my post, dated 10/7/22. The EWP on the 6-mo. CD is 90 days/ not 30 days. And the CD must be opened at a branch, and only funded with a check or cash. Alternatively, I opened a savings account first, then wired funds to the savings account, then went back to the branch and opened the CD. The Branch Operations Specialist I dealt with was very friendly and helpful. Her business card contains her direct telephone number. All in all, it's worthwhile to do business with them, but only if you're close to one of their branches.
  |     |   Comment #11
We have been with Poppy Bank for several years. There were some issues when opening accounts, but for the last few years, the branch in Pleasanton, CA has been very very good. We have money market, savings and CD's with them. In my branch they are very knowledgeable, polite and helpful.
Poppy Bank Offers Market-Leading Rate On 12-Month CD
Update 1/11/2022: Poppy Bank has ended its online application. They now require a branch visit for opening CDs.

Deal Summary: 12-month CD, 1.00% APY, $1k minimum deposit

Availability: Nationwide through online application Branch visit is now required.

Earlier this week, California-based Poppy Bank raised the rates on about half of its CD product line, with the 12-month CD (1.00% APY) having the most competitive rate. When I wrote about Poppy Bank’s long-term CDs in March, the online market area had been expanded statewide; the online market area now...

Continue Reading
Poppy Bank (CA) Offers Competitive Long-Term CDs Statewide
Deal Summary: CDs – 24-month (0.75% APY), 36-month (1.00% APY), 48-month (1.00% APY), 60-month (1.00% APY), $1k minimum deposit.

Availability: All California residents through online application.

Poppy Bank is currently offering competitive rates on its long-term CDs, all of which are available statewide. Of the four CDs listed below, the 36-month CD has the most competitive rate. The minimum opening deposit is $1k, with no stated balance cap.

The CD disclosure is listed on the penultimate page of the online application, which really doesn’t help anyone trying...

Continue Reading
Poppy Bank (CA) Offers Poppy Savings At Two Branches
Deal Summary: Poppy Savings, 2.50% APY, $10k minimum, guaranteed through December 31, 2019, checking requirement.

Availability: Offer in-branch at the Menlo Park and Milpitas locations only.

Poppy Bank (formerly First Community Bank) is currently offering a Poppy Savings/Poppy Checking combo special only at its Menlo Park and Milpitas branch locations. Both accounts must be opened at the same time. (Note: since this offer is limited to only two branch locations, the Poppy Savings account is not listed in any of DA's rate tables.)

Poppy Savings

Continue Reading
Poppy Bank (CA) Ups 12-Month CD Rate
Deal Summary: 12-month CD (2.50% APY), 24-month CD (2.75% APY), $1k minimum deposit.

Availability: Market area is San Francisco Bay area.

About a month ago, Poppy Bank (formerly known as First Community Bank) added a 12-month and a 24-month CD, with fairly ho-hum rates. Following increases of 50 bps over the weekend, those rates are now quite competitive: 12-month CD (2.50% APY) and 24-month CD (2.75% APY). The minimum opening deposit is $1k, with no stated balance cap.

According to CSR, the Early Withdrawal Penalty...

Continue Reading

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.