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5.55% 6-Month / 5.55% 12-Month CD at a California Bank and 5.25% Savings Account (Fremont Investment and Loan)


Fremont Investment and Loan is offering a yield of 5.55% APY for a 6, 9 and 12 month certificate of deposit. The minimum for this rate is $10,000. A yield of 5.40% APY is available for a minimum of $1,000. These are available as a regular or IRA CD.

The bank also has a savings account called the Apple Indexed Savings Account that's competitive for a brick-and-mortar bank. The rate is 5.00% APY for balances up to $25K and 5.25% APY for larger balances. The minimum to open is $100. The Apple Indexed Money Market Deposit Account has rates up to 5.20% APY, but it has much larger minimum balance requirements to open and to obtain the top rates. Seems like the only advantage of this MMA is the check writing.

Branches are located in Central and Southern California including the cities of Fresno, Bakersfield, Santa Barbara, Los Angeles, Pasadena, Redlands, Newport Beach and Laguna Hills. The bank has been FDIC insured since 1984.
Related Pages: CD rates, IRA rates, savings account

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ille_vir   |     |   Comment #1
I would be careful with this bank. This is the "industrial bank" arm of Fremont General, a major subprime player that has released significant negative news recently. They are FDIC insured though, so if you're going to go for these accounts, I would keep deposits lower than the insured limit.
Banking Guy
Banking Guy   |     |   Comment #2
Thanks for the info. In fact, I just noticed this in the news: FDIC sanctions Fremont over subprime loans.

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