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OneWest Bank N.A. (Pasadena, CA)

2.15% 10-Month CD and Other Competitive Rates at OneWest Bank - Available Nationwide


Update 11/14/09: Rates have fallen. 10-mo CD: 1.25% APY, E-Money Market: 1.25% APY $10K+

OneWest Bank has a new online CD special with a very competitive rate of 2.15% APY for terms of 10 to 18 months. Minimum deposit is $5,000. This rate is listed at OneWest Bank's CD rates page as of 8/22/09. Details about the online CD including terms and conditions are available here.

OneWest Bank also increased the low tier rates of its E-Money Market Account. The rate for the $10K tier is now 1.85% APY. This used to be 1.25%. The rate is listed at OneWest Bank's E-Money Market page as of 8/22/09.

Another good deal at OneWest Bank is its Online Keep Your Options Open CD. It's a liquid CD that allows additional deposits up to a maximum principal balance of $100,000. It also allows two penalty-free early withdrawals. OneWest is currently offering this CD with a 1.90% APY and a term of 12 months. This is listed in the bank's online CD rates page.

It's important to note that the above rates are only available online. Branch rates are lower.

I have more details on OneWest Bank CDs and its other accounts at this OneWest product review post.

OneWest Bank used to be IndyMac Bank. The FDIC completed the sale of IndyMac in March to new owners who renamed it OneWest. With OneWest Bank being a new bank it doesn't have the bad loan baggage of IndyMac. The bank has been a FDIC member since 3/19/2009 (FDIC Certificate # 58978).

Account History:
11/14/09: Rates have fallen. 10-mo CD: 1.25% APY, E-Money Market: 1.25% APY $10K+
11/07/09: Rates have fallen. 10-mo CD: 1.25% APY, E-Money Market: 1.40% APY $10K+
10/24/09: Rates have fallen. 10-mo CD: 1.50% APY, E-Money Market: 1.50% APY $10K+
10/17/09: Rates have fallen. 10-mo CD: 1.60% APY, E-Money Market: 1.60% APY $10K+
10/10/09: Rates have fallen, 12-mo CD: 1.80% APY, 10-mo CD: 1.65% APY, E-Money Market: 1.65% APY $10K+
9/12/09: Rates have fallen. 12-mo CD: 2.05% APY, 10-mo CD: 1.76% APY, E-Money Market: 1.75% APY $10K+
9/05/09:The 10-to-18 month CD rate has fallen to 2.10% APY.

Related Pages: OneWest Bank N.A. (Pasadena, CA), Los Angeles, Palm Springs, San Diego, CD rates

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Anonymous   |     |   Comment #1
It used to be impossible to fund a CD online at IndyMac. However, the local IndyMac office was kind enough to give me the online rate when I brought them a check and a printout of my (accepted) CD application.

Has anyone had experience with opening and funding a CD online at OneWest Bank:
Anonymous   |     |   Comment #2
I haven't had the thrill of opening an online account with The Bank Formerly Known as Indy Mac
Anonymous   |     |   Comment #3
But I had the sheer misery of nearly losing my life's savings there during 3 hot weeks in August 2008
Anonymous   |     |   Comment #4
How can we find great rates like these for business accounts?