Now through June 30, 2015 Wilshire Bank is offering a 15-month EZ Flex CD (1.20% APY). The minimum opening deposit is $30K, with a maximum deposit of $250K.
The "EZ Flex" part of the CD consists of the ability to make six no-penalty withdrawals (minimum $1K withdrawal) and make additional deposits (minimum $1K) throughout the length of the term.
The only other requirement is a Personal Flex Checking account, since all earned interest will be automatically deposited. The Personal Flex Checking account requires a $1K minimum opening deposit. There is a $10 Monthly Service Charge that will be waived if one of the three following requirements are met:
- $1K average daily balance
- One direct deposit per month
- Seven debit card purchases per month
Many thanks to Lisa, a long-time DA reader, who spotted this deal in Monday’s Los Angeles Times.
Headquartered in Los Angeles, Wilshire Bank has branches in Southern California, New Jersey, New York, and Texas, and the 15-month EZ Flex CD is available wherever Wilshire Bank has a branch. The branches are all located in major metropolitan areas.
Opening the 15-month EZ Flex CD requires an in-person visit to any of the 22 California branches, four New Jersey branches, four New York branches and three Texas branches.
The 15-month EZ Flex CD is currently not listed on Wilshire Bank’s website, but CSR stated it will appear shortly.
Wilshire Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 7.57% (excellent), based on December 31, 2014 data. In the past year, Wilshire Bank increased its total deposits by $505.38 Million, an excellent annual growth rate of 17.36%. Please refer to our financial overview of Wilshire Bank for more details.
Founded in 1980, Wilshire Bank (FDIC Certificate # 23301) is the 22nd largest bank in California and one of the few Korean-American banks to have both a multi-ethnic customer base and Board of Directors. Wilshire Bank currently holds assets in excess of $4.1 Billion and serves four of the largest metropolitan areas in the country.
How the CD Compares
Given the scope of Wilshire Bank’s market area, a comparison to nationally available CDs is appropriate. While the APY may not be the highest, the two added benefits of additional deposits and six no-penalty withdrawals definitely add to its value.
When compared to other similar length-of-term CDs tracked by DepositAccounts.com that are available nationally, Wilshire Bank’s 15-month EZ Flex CD is 6th in a list that ranges from 1.65% APY to 1.20% APY.
The above rates are accurate as of 3/16/2015.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates tables.