Best CD Rates in California
When it comes to maximizing your savings in California, finding the best CD (Certificate of Deposit) rates is a most convenient financial move. With a vibrant economy and diverse financial institutions, California offers a plethora of options for the people who want to boost their return.
In addition to this, large national banks to local credit unions, California’s financial landscape is full with opportunities to grow your savings. Let’s dive into the details of how you can secure the best CD rates in California.
Overall Best CD rates in California
No. | Name of the Bank | APY % | Term Length (month) | Address |
1 | East West Bank | 5.25% | 6-month | 135 N Los Robles Ave, Pasadena, CA |
2 | City National Bank | 5.22% | 3-month | 555 S Flower St, Los Angeles, CA. |
3 | City National Bank | 5.22% | 3-month | 50 Fremont St San Francisco, CA 94105 |
4 | Northern Trust Company | 5.10% | 3-month | 2500 Sand Hill Rd Menlo Park, CA 94025 |
5 | Chase Bank | 5.00% | 12-month | 560 Mission Street, San Francisco, CA |
6 | First Technology Federal Credit Union | 5.00% | 12-month | 1011 Sunset Blvd, Rocklin, CA 95765 |
7 | Wescom Central Credit Union | 5.00% | 18-month | 308 Westwood Plz Los Angeles, CA 90095 |
8 | Habib American Bank | 5.00% | 3-month | 18357 Pioneer Blvd Artesia, CA 90701 |
9 | Schools Financial | 5.00% | 13-month | 8848 Calvine Rd Sacramento, CA 95828 |
10 | Beal Bank USA | 4.96% | 3-month | 5180 Stevens Creek Blvd San Jose, CA 95129 |
11 | Beal Bank, SSB | 4.96% | 3-month | 1631 N California Blvd Walnut Creek, CA 94596 |
12 | SchoolsFirst Federal Credit Union | 4.75% | 12-month | 2115 N Broadway, Santa Ana, CA 92706 |
13 | MUFG Union Bank | 4.65% | 6-month | 1251 Avenue of the Americas, New York, NY |
14 | California Credit Union | 4.65% | 18-month | 701 N Brand Blvd, Glendale, CA 91203 |
15 | California Bank & Trust | 4.64% | 9-month | 11622 El Camino Real #200, San Diego, CA |
16 | Gateway Bank, F.S.B. | 4.51% | 3-month | 2201 Broadway Oakland, CA 94612 |
17 | Wells Fargo | 4.50% | 3-month | 420 Montgomery Street, San Francisco, CA |
18 | Balboa Thrift and Loan Association | 4.50% | 3-month | 7060 N Marks Ave Fresno, CA 93711 |
19 | Cathay Bank | 4.41% | 6-month | 777 N Broadway, Los Angeles, CA |
20 | SCE Federal Credit Union | 4.41% | 48-month | 12701 Schabarum Ave, Irwindale, CA 91706 |
21 | Meriwest Credit Union | 4.40% | 3-month | 5683 Cottle Rd San Jose, CA 95123 |
22 | California Coast Credit Union | 4.17% | 3-month | 3202 Governor Dr San Diego, CA 92122 |
23 | Safe Credit Union | 4.10% | 3-month | 2295 Iron Point Rd, Suite 100, Folsom, CA 95630 |
24 | Provident Credit Union | 4.02% | 18-month | 303 Twin Dolphin Drive, Redwood City, CA 94065 |
25 | Banc of California | 4.00% | 6-month | 3 MacArthur Place, Santa Ana, CA |
26 | CEFCU | 4.00% | 3-month | 3980 Rivermark Plz Santa Clara, CA 95054 |
27 | Premier America Credit Union | 4.00% | 3-month | 18111 Nordhoff St, Northridge, CA 91330 |
28 | Bank of America | 4% | 13-month | 555 California Street, San Francisco, CA |
29 | First Entertainment Credit Union | 3.93% | 12-month | 6735 Forest Lawn Drive, Los Angeles, CA 90068 |
30 | Bank of America, National Association | 3.93% | 3-month | 620 Camino De Los Mares San Clemente, CA 92673 |
31 | CBC Federal Credit Union | 3.93% | 3-month | 3636 Dean Dr Ventura, CA 93003 |
32 | Travis Credit Union | 3.69% | 12-month | 1 Travis Way, Vacaville, CA 95687 |
33 | Pacific Premier Bank | 3.59% | 6-month | 17901 Von Karman Avenue, Suite 1200, Irvine, CA 92614 |
34 | Unify Financial Credit Union | 3.50% | 3-month | 4431 Candlewood St Lakewood, CA 90712 |
35 | Mechanics Bank | 3.44% | 6-month | 1111 Civic Drive, Walnut Creek, CA |
36 | San Diego County Credit Union | 3.44% | 17-month | 6545 Sequence Dr, San Diego, CA 92121 |
37 | Pacific Western Bank | 3.35% | 6-month | 9701 Wilshire Blvd, Suite 700, Beverly Hills, CA |
38 | Rabobank | 3.35% | 15-month | 915 Highland Pointe Dr, Roseville, CA 95678 |
39 | Kinecta Federal Credit Union | 3.35% | 17-month | 1440 Rosecrans Ave, Manhattan Beach, CA 90266 |
40 | First Republic Bank | 3.00% | 6-month | 111 Pine Street, San Francisco, CA. |
41 | Redwood Credit Union | 3.00% | 60-month | 3033 Cleveland Ave, Santa Rosa, CA 95403 |
42 | Star One Credit Union | 3.00% | 48-month | 1306 Bordeaux Dr, Sunnyvale, CA 94089 |
43 | Patelco Credit Union | 2.75% | 6-month | 5050 Hopyard Rd, Pleasanton, CA 94588 |
44 | North Island Credit Union | 2.75% | 36-month | 5898 Copley Drive, San Diego, CA 92111 |
45 | Westamerica Bank | 2.70% | 6-month | 1108 5th Avenue, San Rafael, CA. |
46 | Altura Credit Union | 2.60% | 60-month | 2847 Campus Pkwy, Riverside, CA 92507 |
47 | Tri Counties Bank | 2.50% | 6-month | 63 Constitution Drive, Chico, CA |
48 | Heritage Bank of Commerce | 2.50% | 36-month | 150 Almaden Blvd, San Jose, CA 95113 |
49 | American First Credit Union | 2.50% | 48-month | 6 Pointe Drive, Suite 400, Brea, CA 92821 |
50 | Logix Federal Credit Union | 2.33% | 36-month | 2340 Hollywood Way, Burbank, CA 91505 |
51 | Silicon Valley Bank | 1.90% | 6-month | 3003 Tasman Dr, Santa Clara, CA |
52 | Comerica Bank | 1.90% | 6-month | 1717 Main St, Dallas, TX |
53 | Golden 1 Credit Union | 1.90% | 3-month | 8945 Cal Center Dr, Sacramento, CA 95826 |
54 | Stanford Federal Credit Union | 1.90% | 24-month | 1860 Embarcadero Rd, Palo Alto, CA 94303 |
55 | U.S. Bank | 0.25% | 5-years | 633 W 5th St, Los Angeles, CA |
56 | Union Bank | 0.16% | 24-monh | 400 California St, San Francisco, CA |
57 | Citibank | 0.05% | 12-month | 388 Greenwich St, New York, NY |
58 | Bank of the West | 0.05% | 12-month | 180 Montgomery St, San Francisco, CA |
59 | Mission Federal Credit Union | N/A | 15-month | 5785 Oberlin Dr, San Diego, CA 92121 |
60 | Orange County’s Credit Union | N/A | 6-month | 1701 E St. Andrew Place, Santa Ana, CA 92705 |
Current CD Rates of California
The current CD rates in California represent a diverse range of options for investors. These rates vary significantly across different financial institutions by reflecting the dynamic nature of the state’s banking landscape.
Moreover, the landscape of CD rates in California is enriched by institutions like Quontic, offering. Its rates fall between 4.3% and 5.05% for all the terms ranging from 6 months to 5 years, with a minimum deposit of $500.
Some of the similar flexible offerings are;
Best 6 Month CD Rates
For those seeking short-term investment opportunities with decent returns, the best 6-month CD rates offer a perfect balance between accessibility and profit.
- CommunityWide FCU
Minimum Amount: $1.000.00
APY / Rate: 3.25% APY
Pros:
- NCUA Insured to at least $250,000
- Dividend can be compounded in certificates / deposited to another share/ transferred to another institution
- Option to renew on the maturity
Rules:
- Any withdrawal before maturity is charged with a penalty
- Penalty= amount of the withdrawal x the remaining term (days) of the certificate at the rate of 2x the current APR (divided by 365)
- Dividends are paid at the end of the month
- Quontic Bank
Minimum Amount: $500.00
APY / Rate: 2.25% APY
Pros:
- Instant account opening
- Low minimum balance
- FDIC insured
Rules:
- Interest is compounded daily and credited to the account at the end of every month
- A periodic rate is applied to the balance (principal + interest) in the account
- CD can be withdrawn upon maturity within 10 days after which, it is automatically renewed on the same terms.
- PenFed Credit Union
Minimum Amount: $1,000.00
APY / Rate: 2.00% APY
Pros:
- Easy renewal without any conditions
- Can be accessed at the branch, mobile or online
- Insured by NCUA insurance
Rules:
- Dividends are calculated on a simple interest basis
- Monthly dividends are paid on CD maturity
Best 1 Year CD Rates
The best 1-year CD rates stand out as a compelling choice for savers looking for slightly higher yields without significantly extending the commitment period.
- Blue FCU
Minimum Amount: $1.00
APY / Rate: 4.60% APY
Pros:
- Nationwide available bank
- No penalty for early withdrawal
- Can withdraw after 7 days of the opening date
- FDIC insured
Rules:
- Interest is compounded daily and credited to the account at the end of the month
- Bread Savings
Minimum Amount: $1,500.00
APY / Rate: 4.00% APY
Pros:
- $1 million per account and $10 million limit per customer maximum deposit limit
- No hidden fees
- Free monthly maintenance
- Auto-renew facility available
Rules:
- Interest is accrued and compounded on daily basis and credited to the account every month
- Synchrony Bank
Minimum Amount: $0.00
APY / Rate: 4.01% APY
Pros:
- No minimum balance
- Easiest penalty terms
- Interest can be withdrawn anytime without penalty
- FDIC insured up to $250,000
Rules:
- Monthly Interest is calculated and credited to the account at the end of the month
- A penalty is charged if you withdraw prematurely
Best 2 Year CD Rates
For investors ready to lock in their savings for a bit longer, the 2-year CD rates present an attractive option to maximize interest earnings over a moderate period.
- Marcus by Goldman Sachs
Minimum Amount: 4.25% APY
APY / Rate: $500.00
Pros:
- Instant account opening
- Low minimum balance requirements
- All seven days of customer support
Rules:
- Interest is accrued daily and compounded at the end of the month
- No penalty withdrawal is available on the interest amount
- Skyla Credit Union
Minimum Amount: $500.00
APY / Rate: 4.50% APY
Pros:
- Low minimum balance requirement
- Insured up to $500,000 by National Credit Union Administration (NCUA) and Excess Share Insurance Corporation (ESI)
- No monthly fees
Rules:
- The dividend is compounded and credited on a monthly basis
- Complete the term to avoid penalties
- Genisys Credit Union
Minimum Amount: $500.00
APY / Rate: 4.58% APY
Pros:
- A low minimum balance is required to open an account
- Higher APY than most of the banks
- Hassle-free account opening
Rules:
- Maintain a minimum balance of $500 to earn the interest
- Interest is compounded and credited to the account on a monthly basis.
Best 3 Year CD Rates
3-year CD rates cater to individuals looking for a steady and reliable return over a few years. These CDs are appealing for those who have a clear savings goal in sight.
- Barclays
Minimum Amount: $0.00
APY / Rate: 4.15% APY
Pros:
- Easy fund transfer
- No minimum balance
- No monthly fees
Rules:
- Fund the account within 14 days of opening to make it functional
- To earn interest ensure $0.01 at all times
- First National Bank of America
Minimum Amount: $1,000.00
APY / Rate: 4.10% APY
Pros:
- High APY and interest rates
- Easy account opening procedure
- FDIC insured
- BBB accredited business
Rules:
- You must maintain a minimum balance of $1000 to earn APY
- Interest is added to the account every end of month
- Capital One
Minimum Amount: $0.00
APY / Rate: 4.15% APY
Pros:
- No minimum balance required
- FDIC insured investment
- No risk investment
- Instant account opening
Rules:
- No minimum balance is required to earn an interest
- The interest is compounded monthly and credited to the account
- You can withdraw the interest at anytime of the term without any penalty or fee
Best 5 Year CD Rates
The best 5-year CD rates are tailored for investors who are in no rush to access their funds and are focused on achieving the maximum return on their investments over time.
- Popular Direct
Minimum Amount: $10,000.00
APY / Rate: 4.35% APY
Pros:
- One of the highest APY
- 24X7 account access
- FDIC insured deposits
- 24/7 customer support
Rules:
- Minimum balance of $10000 must be maintained in the account to earn interest
- Interest is accrued and compounded monthly and transferred to the account at the end of month.
- Premature withdrawal are exposed to penalty
- Synchrony Bank
Minimum Amount: $0.00
APY / Rate: 4.26% APY
Pros:
- Best APY rate
- No minimum balance required
- High yield savings options
- No penalty on premature interest withdrawal
- 10 days grace period after maturity to add more funds to the CD
Rules:
- The interest is compounded monthly and added to the account at the end of the month.
- There is no minimum balance required to earn interest.
- Capital One
Minimum Amount: 0.00
APY / Rate: 4.25% APY
Pros:
- No minimum balance
- FDIC insured investment
- No risk investment
- 5 minutes account opening facility
Rules:
- Daily interest accrual which is monthly compounded and credited to the account
- The interest can be withdrawn on the end of term, monthly or annually basis.
California Economic Statistics
In the context of California’s economic landscape and its implications for investors, understanding the state’s median household income, average home values, and population provides most essential insights.
- The median household income in California, stands at approximately $91,551. It shows that the state has a relatively high cost of living and the prosperity of certain sectors that drive its economy, such as technology, entertainment, and agriculture.
- Average home values in California also highlight the state’s economic diversity and the wealth concentrated in its real estate market. With some of the highest property values in the nation, areas like Atherton and Beverly Hills see average household incomes well into the six figures. It clearly represents the affluent demographics that can significantly influence local banking and investment trends.
- Moreover, California’s population, exceeding 39 million, is not only the largest in the United States but also one of the most diverse, both economically and culturally. This diversity affects everything from consumer behavior to investment patterns.
Statistic | Value |
Median Household Income | $91,905 |
Average Household Income | $130,718 |
Mean Income of Top 5% | $627,250 |
Average Home Value (Top Cities) | Varies (e.g., Atherton at $594,651) |
Population | Over 39 million |
Per Capita Income | $45,591 |
Unemployment Rate | 6.40% |
Median Age | Varies by age group (e.g., 45 to 64 years at $108,046) |
For investors and savers, these statistics show the importance of understanding local economic conditions when considering CD investments in California.
How to Get Best CD Rates in California
To secure the best CD rates in California, savers and investors should adopt a comprehensive approach that takes into account the state’s diverse economic landscape.
- Start by comparing rates from a variety of financial institutions, including both large banks and local credit unions, as these entities often offer competitive rates to attract different segments of savers.
- Understanding local economic conditions, such as median household income and average home values, can also provide insights into which regions may offer more advantageous rates.
- Additionally, consider leveraging online resources and financial comparison tools to track rate changes and promotions. Building a relationship with your banking institution could also unlock better rates or insider advice on upcoming deals.
CD Rates Methodology
Our methodology for reviewing CD rates across California involved a comprehensive analysis of offerings from a wide range of financial institutions.
Initially, we surveyed 92 banks and credit unions to assess the diversity and competitiveness of CD rates available for the investors within the state. This extensive review encompassed both large national banks with significant presence in California and smaller, local credit unions known for offering personalized financial products.
From this broad pool, 60 institutions made it onto our list, chosen based on several critical factors. These factors included;
- Attractiveness of the Annual Percentage Yield
- Variety of terms available
- Customer service ratings
- Online banking capabilities
Conclusion
In conclusion, the state’s vast economy and demographic diversity express the clear opportunities to maximize your savings through higher CD rates. By staying informed about the economic indicators and being proactive in your search, you can position yourself to take advantage of the best possible CD rates that aligns with your investment strategy.
FAQs
East West Bank offers the best CD rates in California with a 5.25% APY for a 6-month term.
First Technology Federal Credit Union leads among credit unions with a 5.00% APY for a 12-month term.