Competitive CD Rates at State Bank of India (California) - Local Only

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Update: The rates fell just after this post was published. Refer to the table above for the latest rates.

State Bank of India (California) continues to offer competitive CD rates. Rates went down in August and the special 15-month CD is no longer available, but if you're looking for long-term CDs in California, this bank is a good option. The best CDs include a 2.40% APY 5-year CD, a 1.75% APY 3-year CD and a 1.40% APY 2-year CD. Minimum deposit is $1,000. These rates are listed in the bank's rate sheet as of 9/7/2011.

On the front page of the bank's website it states:

State Bank of India (California) is fully owned by State Bank of India, one of the strongest banks in the World, with controlling ownership by Government of India.

This is a sister bank of State Bank of India in New York which offers CDs and money market accounts by mail.

State Bank of India (California) has new account forms available online that can be mailed. However, the instructions state that "All applicants must visit the branch of choice for in person ID verification and to complete additional account documentation."

State Bank of India (California) branches are located in several California cities including Los Angeles, Artesia, Canoga Park, San Jose, Fresno, San Diego, Bakerfield, Fremont and Tustin. It also has a branch in Washington, DC.

The bank has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 16.97% (average) based on June 2011 data. Please refer to our financial overview of State Bank of India (California) for more details. The bank has been a FDIC member since 1982 (FDIC Certificate # 23998).

How These CD Rates Compare

It used to be easy to find a 2.50% APY on a 5-year CD, but that's no longer the case. Only one internet bank, Airbanking, is offering a 2.50% APY 5-year CD. Airbanking also has top CD rates for other terms (1.50% APY for 2 years and 1.90% APY for 3 years). Rates are accurate as of 9/7/2011.

Searching for the Best CD and IRA CD Rates

To search for the best nationwide rates and the best rates in your state, please refer to the following sections of DepositAccounts.com:

Comments
Anonymous
Anonymous   |     |   Comment #1
The rate sheet and the bank's web site do not show the rates you mention.  I'm seeing a 2-yr CD at  1.10%, and 3-yr is 1.30%.  Where are you getting this info??
lou
lou   |     |   Comment #2
Ken, I don't see these rates either.
KenBDG
KenBDG   |     |   Comment #3
You know the rates are falling fast these days when they fall an hour after I post on them.
Competitive CD Rates at State Bank of India (California) - Local Only

State Bank of India (California) is offering a few competitive CD rates. There's a special 15-month CD with a 1.51% APY. Also, there are some top rates for the long-term CDs: 2.75% APY for 5 years and 2.00% APY for 3 years. Minimum deposit is $1,000. These rates are listed in the bank's rate sheet as of 3/29/2011.

On the front page of the bank's website it states:

This is a sister bank of State Bank of India in New York which offers CDs and money market accounts by mail.

State Bank of...



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Competitive 2-Year CD at State Bank of India (California) - Local Only

State Bank of India (California) is offering 2.10% APY on a 2-year CD. The other terms are not quite as competitive. The next best one is a 1.50% APY 12-month CD. Minimum deposit is $1,000. Note, interest is not compounded so the rate equals the APY. These rates are listed in the bank's rate sheet as of 4/27/2010.

On the front page of the bank's website it states:

This is a sister bank of State Bank of India in New York which offers CDs and money market accounts by mail. However, it...



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3.00% 36-Month CD at State Bank of India (California) - Local Only
Update 1/02/09: The CD rates have fallen. Refer to the front page of the bank's website for the latest rates.

State Bank of India (California) is offering some competitive long-term CD rates. The most competitive one is a 3.00% APY 3-year CD. The other ones include a 2.30% APY 2-year CD and a 3.40% APY 5-year CD. Minimum deposit is $1,000. These rates are listed in the bank's rate sheet as of 12/23/09. Note, interest must be paid out at least annually so the interest rate is the same as the...

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State Bank of India (California) is offering several competitive CD rates. These include a 2.50% APY 12-month CD and a 2.20% APY 6-month CD. Minimum deposit is $50,000. Lower rates are available with a $1,000 minimum. Below is the list of the bank's CD rates for a $50K minimum as listed in the bank's rate sheet as of 7/26/09 (rate sheet available on the bank's home page).
  • 1.90% APY 3 months
  • 2.20% APY 6 months
  • 2.50% APY 12 months
  • 2.75% APY 24 months
  • 3.00% APY 36 months
  • 3.40% APY 60 months
The rate sheet also lists a...
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