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.

1. 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

2. 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.

3. 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.

1. 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

2. 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

3. 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.

1. 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

2. 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

3. 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.

1. 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

2. 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

3. 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.

1. 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

2. 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.

3. 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.

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