2.24% 12-Month CD & 2.72% 24-Month CD at City Bank - Washington State Only


City Bank is offering some very competitive CD rates. For a minimum deposit of $500, the CD rates as listed in the bank's rates page as of 9/17/09 include:
  • 1.52% APY 3 months
  • 1.84% APY 6 months
  • 2.24% APY 12 months
  • 2.72% APY 24 months
  • 2.97% APY 36 months
  • 3.18% APY 48 months
  • 3.48% APY 60 month
Higher rates are available for Jumbo short-term CDs with a $100,000 minimum. These rates as of 9/17/09 include:
  • 1.62% APY 3 months
  • 1.94% APY 6 months
  • 2.05% APY 9 months
  • 2.32% APY 12 months
All of these can be opened with an online application that allows electronic funding via ACH. However, when you open the application, it states that accounts can only be opened by Washington State residents.

City Bank is based in Lynnwood, Washington. It's a moderate size bank with 8 branches and $1.3 billion in assets. Its ratings for safety and soundness have gone down since my January post on this bank. They're now very weak: 0 star (lowest) at BauerFinancial (based on 6/30/09 data) and 1 star (lowest) at Bankrate.com (based on 3/31/09 data). The bank has been a FDIC member since 1974 (FDIC Certificate # 21521).

Thanks to the reader rav who mentioned this bank in the comments. If you find a good rate at a bank or credit union, please leave a comment at the bank deals hub.

Other Competitive Certificate of Deposit Rates
3.71% 12-Month CD and Other High-Yield Internet CDs at City Bank
Update 2/12/09: The CD rates have fallen, but they remain competitive. Refer to the bank's website for the latest rates.

City Bank is having a grand opening special for its eBranch. The bank is offering several very competitive CD rates. The most competitive include a 3.51% APY for 6 months, a 3.71% APY for one year and a 4.06% APY for 2 years. Minimum deposit is $500. Higher rates are available for Jumbo CDs with a $100,000 minimum. The most competitive Jumbo CD rates include a 3% APY 3-month CD and...

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