Best CD Rates in Los Angeles, California

When it comes to maximizing your savings Los Angeles offers a variety of banks and credit unions that promise attractive rates to grow your investment. Here is the most comprehensive guide that helps you to navigate the landscape of CD opportunities in LA. This will also ensure that your hard-earned money works just as hard as you do in this city of stars.

Overall Best CD rates in Los Angeles, California

No.	Name of the Bank	APY %	Term Length (month)	Address
1	American Airlines Federal  Credit Union	5.50%	6-month	400 World Way Los Angeles, CA 90045
2	First Credit Bank	5.32%	6-month	9255 W Sunset Blvd Los Angeles, CA 90069
3	1st Century Bank,  National Association	5.25%	6-month	1875 Century Park E Ste 1400 Los Angeles, CA 90067
4	MidFirst Bank	5.25%	6-month	1320 E 7th St Los Angeles, CA 90021
5	Preferred Bank	5.22%	6-month	18321 Ventura Blvd Los Angeles, CA 90001
6	City National Bank	5.10%	3-month	555 S Flower St Los Angeles, CA 90071
7	Northern Trust Company	5.10%	3-month	2049 Century Park E Los Angeles, CA 90067
8	Grandpoint Bank	5.05%	6-month	110 S Fairfax Ave Los Angeles, CA 90036
9	Habib American Bank	5.00%	3-month	110 E 9th St Los Angeles, CA 90079
10	Habib American Bank	5.00%	6-month	110 E 9th St Los Angeles, CA 90079
11	Northern Trust Company	5.00%	6-month	2049 Century Park E Los Angeles, CA 90067
12	OneWest Bank, National  Association	4.88%	6-month	8750 S Sepulveda Blvd Los Angeles, CA 90045
13	Wilshire Bank	4.75%	6-month	3832 Wilshire Blvd Los Angeles, CA 90010
14	Wells Fargo Bank,  National Association	4.50%	3-month	2544 Glendale Blvd Los Angeles, CA 90039
15	SchoolsFirst Federal  Credit Union	4.35%	6-month	5359 W Centinela Ave Los Angeles, CA 90045
16	Firefighters First Credit  Union	4.25%	6-month	815 Colorado Blvd Los Angeles, CA 90041
17	Pan American Bank	4.00%	3-month	3626 E First St Los Angeles, CA 90063
18	Pasadena Federal Credit Union	4.00%	12-month	1038+A1:E41 S Fair Oaks Ave, Pasadena, CA 91105
19	SchoolsFirst Federal  Credit Union	3.95%	3-month	5359 W Centinela Ave Los Angeles, CA 90045
20	Bank of America, National  Association	3.93%	3-month	4510 Franklin Ave Los Angeles, CA 90027
21	Credit Union of Southern  California	3.93%	36-month	028 Greenleaf Ave, Whittier, CA 90602
22	MWD Federal Credit Union	3.92%	6-month	700 N Alameda St Los Angeles, CA 90012
23	Northrop Grumman Federal Credit Union	3.86%	6-month	1 Gateway Plz Los Angeles, CA 90012
24	BBCN Bank	3.60%	3-month	3267 W Olympic Blvd Los Angeles, CA 90006
25	Wilshire Bank	3.60%	3-month	3832 Wilshire Blvd Los Angeles, CA 90010
26	First Credit Bank	3.55%	3-month	9255 W Sunset Blvd Los Angeles, CA 90069
27	Unify Financial Credit  Union	3.50%	3-month	8632 S Sepulveda Blvd Los Angeles, CA 90045
28	Unify Financial Credit  Union	3.50%	6-month	8632 S Sepulveda Blvd Los Angeles, CA 90045
29	Preferred Bank	3.44%	3-month	18321 Ventura Blvd Los Angeles, CA 90001
30	California Credit Union	3.20%	3-month	420 Rosenell Ter Los Angeles, CA 90026
31	Farmers Insurance Group Federal Credit Union	3.15%	3-month	4601 Wilshire Blvd Los Angeles, CA 90010
32	Golden 1 Credit Union	3.11%	6-month	320 W 4th St Los Angeles, CA 90013
33	Golden 1 Credit Union	3.00%	3-month	320 W 4th St Los Angeles, CA 90013
34	PenFed Credit Union	3.00%	6-month	Online
35	Logix Federal Credit Union	3.00%	24-month	2340 Hollywood Way, Burbank, CA 91505 (Greater LA Area)
36	USC Credit Union	2.96%	3-month	3096 McClintock Ave Los Angeles, CA 90089
37	Wescom Central Credit Union	2.86%	3-month	308 Westwood Plz Los Angeles, CA 90095
38	Wells Fargo Bank,  National Association	2.50%	6-month	2544 Glendale Blvd Los Angeles, CA 90039
39	Southland Credit Union	2.08%	48-month	8545 Florence Ave, Downey, CA 90240
40	First Entertainment  Credit Union	1.38%	12-month	6735 Forest Lawn Dr, Los Angeles, CA 90068

Current CD Rates of Los Angeles, California

In Los Angeles, California, current CD rates hold significant importance for investors. Because it will optimize their financial portfolios. Along with the fluctuating economic conditions and varying interest rates, securing a competitive CD rate in LA can provide a stable and predictable return on investment. This financial instrument becomes especially crucial for those seeking a low-risk savings option.

Best 6 Month CD Rates

In the competitive landscape of Los Angeles, the best 6-month CD rates stand out for offering investors a swift return on their savings, along with balancing higher interest rates with short-term accessibility.

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
For those who require a balance between a decent yield and maintaining access to their funds, the best 1-year CD rates in LA present an appealing option for all the interested people.

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. 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

3. Marcus by Goldman Sachs

Minimum Amount: $500.00

APY / Rate: 4.00% APY

Pros:

• Hasslefree and Instant account opening
• Customer support avail all seven days of a week

Rules:

• CD rate can change at any time and hence customers are required to check the prevailing rates
• Interest is added to the principal at every month’s end
• It can be withdrawn without any penalty

Best 2 Year CD Rates

To be benefited by the 2-year CD options, here is the most current availability described next.

1. Synchrony Bank

Minimum Amount: $0.01

APY / Rate: 4.26% APY

Pros:

• No minimum balance
• Low penalty on early withdrawal
• Anytime interest withdrawal without penalty
• FDIC insured up to $250,000

Rules:

• Interest is calculated on a monthly basis and credited to the account at end of every month
• Premature withdrawal is charged with a penalty

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

The top 3-year CD rates in Los Angeles deal with the investors who are looking for a more substantial return without venturing too far into long-term investment territory.

1. Bread Savings

Minimum Amount: $1,500.00

APY / Rate: 4.00% APY

Pros:

• Hassle-free account opening
• Best reinvestment options available
• $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 on a monthly basis

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

Securing the best 5-year CD rates in LA is ideal for long-term planners. It provides a higher yield for those who are willing to lock in their investment.

1. Bread Savings

Minimum Amount: $1,500.00

APY / Rate: 4.25% 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 on monthly basis

2. 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

3. Barclays

Minimum Amount: $0.00

APY / Rate: 4.25% APY

Pros:

• One of the biggest banks in America
• No minimum balance required
• Easy fund transfer
• No monthly fees

Rules:

• Fund must be added to the account within 14 days of opening
• To earn interest minimum $0.01 balance must be maintained
• Interest is compounded on monthly basis

4. Bread Savings

Minimum Amount: $1,500.00

APY / Rate: 4.25% 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 on monthly basis

5. 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

6. Barclays

Minimum Amount: $0.00

APY / Rate: 4.25% APY

Pros:

• One of the biggest banks in America
• No minimum balance required
• Easy fund transfer
• No monthly fees

Rules:

• Fund must be added to the account within 14 days of opening
• To earn interest minimum $0.01 balance must be maintained
• Interest is compounded on monthly basis

Los Angeles, California Economic Statistics

Los Angeles, California, stands as a dynamic hub of economic activity, marked by its diverse population and robust housing market.

• With an estimated population of nearly 4 million people, Los Angeles is a sprawling metropolis that offers a unique landscape for investors and savers alike.
• The average household income in the city is approximately $74,580, according to the U.S. Census Bureau, reflecting the economic diversity of its residents.
• Meanwhile, the average home value in Los Angeles has surged to around $859,000, as reported by Zillow, indicating a highly competitive real estate market.

Economic Indicator	Statistic
Population	~4,000,000
Average Household Income	$74,580
Average Home Value	$859,000

These economic indicators are crucial for understanding the financial landscape of Los Angeles, especially for those looking to invest in CD rates. These aspects in income levels and the soaring property values underscore the importance of finding competitive CD rates as a means of saving and growing personal wealth

How to Get Best CD Rates in Los Angeles, California

To secure the best CD rates in Los Angeles, California, investors should adopt a well-informed approach.

• Begin by conducting thorough research across a variety of financial institutions, including both traditional banks and credit unions, as these often offer more competitive rates compared to their larger, nationwide counterparts.
• Moreover, staying updated on the current economic climate and Federal Reserve rate changes is crucial, as these factors directly impact CD rates.
• Additionally, consider leveraging online financial comparison tools to quickly assess and compare CD rates across different institutions. Building a relationship with your local bank or credit union can also unveil exclusive or preferential rates not advertised to the general public.
• Lastly, diversify your CD investments by laddering, which involves purchasing multiple CDs with different maturity dates, allowing you to benefit from higher rates on longer terms while retaining some level of access to your funds.

This strategy ensures that you are well-positioned to capitalize on the best possible CD rates in the vibrant and diverse economic landscape of Los Angeles.

CD Rates Methodology

Our methodology for selecting the best CD rates in Los Angeles, California, involves a comprehensive and rigorous analysis of CD rates that are offered by a wide array of financial institutions.

 Out of 85 banks and credit unions reviewed, spanning a diverse mix of large national banks, regional banks, and local credit unions, only 41 made our final list.

This selection process is grounded in a detailed evaluation of several key factors including the offered interest rates, the terms and conditions of the CD accounts; such as minimum deposit requirements and early withdrawal penalties.

Conclusion

By exploring various financial institutions, staying informed about the broader economic environment, and employing strategies, investors can optimize their returns in a city known for its dynamic and competitive financial market.

Moreover, the economic statistics of Los Angeles highlight the diverse economic base and the importance of smart saving and investing practices in los Angeles. With the right approach, securing the best CD rates in Los Angeles is not just a goal but a realistic achievement that can significantly enhance your financial portfolio.

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