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 BankAPY %Term Length (month)Address
1East West Bank5.25%6-month135 N Los Robles Ave, Pasadena, CA
2City National Bank5.22%3-month555 S Flower St, Los Angeles, CA.
3City National Bank5.22%3-month50 Fremont St San Francisco, CA 94105
4Northern Trust Company5.10%3-month2500 Sand Hill Rd Menlo Park, CA 94025
5Chase Bank5.00%12-month560 Mission Street, San Francisco, CA
6First Technology Federal  Credit Union5.00%12-month1011 Sunset Blvd, Rocklin, CA 95765
7Wescom Central Credit Union5.00%18-month308 Westwood Plz Los Angeles, CA 90095
8Habib American Bank5.00%3-month18357 Pioneer Blvd Artesia, CA 90701
9Schools Financial5.00%13-month8848 Calvine Rd Sacramento, CA 95828
10Beal Bank USA4.96%3-month5180 Stevens Creek Blvd San Jose, CA 95129
11Beal Bank, SSB4.96%3-month1631 N California Blvd Walnut Creek, CA 94596
12SchoolsFirst Federal  Credit Union4.75%12-month2115 N Broadway, Santa Ana, CA 92706
13MUFG Union Bank4.65%6-month1251 Avenue of the Americas, New York, NY
14California Credit Union4.65%18-month701 N Brand Blvd, Glendale, CA 91203
15California Bank &  Trust4.64%9-month11622 El Camino Real #200, San Diego, CA
16Gateway Bank, F.S.B.4.51%3-month2201 Broadway Oakland, CA 94612
17Wells Fargo4.50%3-month420 Montgomery Street, San Francisco, CA
18Balboa Thrift and Loan  Association4.50%3-month7060 N Marks Ave Fresno, CA 93711
19Cathay Bank4.41%6-month777 N Broadway, Los Angeles, CA
20SCE Federal Credit Union4.41%48-month12701 Schabarum Ave, Irwindale, CA 91706
21Meriwest Credit Union4.40%3-month5683 Cottle Rd San Jose, CA 95123
22California Coast Credit  Union4.17%3-month3202 Governor Dr San Diego, CA 92122
23Safe Credit Union4.10%3-month2295 Iron Point Rd, Suite 100, Folsom, CA 95630
24Provident Credit Union4.02%18-month303 Twin Dolphin Drive, Redwood City, CA 94065
25Banc of California4.00%6-month3 MacArthur Place, Santa Ana, CA
26CEFCU4.00%3-month3980 Rivermark Plz Santa Clara, CA 95054
27Premier America Credit  Union4.00%3-month18111 Nordhoff St, Northridge, CA 91330
28Bank of America4%13-month555 California Street, San Francisco, CA
29First Entertainment  Credit Union3.93%12-month6735 Forest Lawn Drive, Los Angeles, CA 90068
30Bank of America, National  Association3.93%3-month620 Camino De Los Mares San Clemente, CA 92673
31CBC Federal Credit Union3.93%3-month3636 Dean Dr Ventura, CA 93003
32Travis Credit Union3.69%12-month1 Travis Way, Vacaville, CA 95687
33Pacific Premier Bank3.59%6-month17901 Von Karman Avenue, Suite 1200, Irvine, CA 92614
34Unify Financial Credit  Union3.50%3-month4431 Candlewood St Lakewood, CA 90712
35Mechanics Bank3.44%6-month1111 Civic Drive, Walnut Creek, CA
36San Diego County Credit Union3.44%17-month6545 Sequence Dr, San Diego, CA 92121
37Pacific Western Bank3.35%6-month9701 Wilshire Blvd, Suite 700, Beverly Hills, CA
38Rabobank3.35%15-month915 Highland Pointe Dr, Roseville, CA 95678
39Kinecta Federal Credit  Union3.35%17-month1440 Rosecrans Ave, Manhattan Beach, CA 90266
40First Republic Bank3.00%6-month111 Pine Street, San Francisco, CA.
41Redwood Credit Union3.00%60-month3033 Cleveland Ave, Santa Rosa, CA 95403
42Star One Credit Union3.00%48-month1306 Bordeaux Dr, Sunnyvale, CA 94089
43Patelco Credit Union2.75%6-month5050 Hopyard Rd, Pleasanton, CA 94588
44North Island Credit Union2.75%36-month5898 Copley Drive, San Diego, CA 92111
45Westamerica Bank2.70%6-month1108 5th Avenue, San Rafael, CA.
46Altura Credit Union2.60%60-month2847 Campus Pkwy, Riverside, CA 92507
47Tri Counties Bank2.50%6-month63 Constitution Drive, Chico, CA
48Heritage Bank of Commerce2.50%36-month150 Almaden Blvd, San Jose, CA 95113
49American First Credit Union2.50%48-month6 Pointe Drive, Suite 400, Brea, CA 92821
50Logix Federal Credit Union2.33%36-month2340 Hollywood Way, Burbank, CA 91505
51Silicon Valley Bank1.90%6-month3003 Tasman Dr, Santa Clara, CA
52Comerica Bank1.90%6-month1717 Main St, Dallas, TX
53Golden 1 Credit Union1.90%3-month8945 Cal Center Dr, Sacramento, CA 95826
54Stanford Federal Credit Union1.90%24-month1860 Embarcadero Rd, Palo Alto, CA 94303
55U.S. Bank0.25%5-years633 W 5th St, Los Angeles, CA
56Union Bank0.16%24-monh400 California St, San Francisco, CA
57Citibank0.05%12-month388 Greenwich St, New York, NY
58Bank of the West0.05%12-month180 Montgomery St, San Francisco, CA
59Mission Federal Credit  UnionN/A15-month5785 Oberlin Dr, San Diego, CA 92121
60Orange County’s Credit  UnionN/A6-month1701 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
  1. 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.
  1. 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
  1. 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
  1. 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
  1. 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
  1. 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
  1. 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
  1. 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
  1. 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.
  1. 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.
StatisticValue
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)
PopulationOver 39 million
Per Capita Income$45,591
Unemployment Rate6.40%
Median AgeVaries 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

Who has the best CD rates in California?

East West Bank offers the best CD rates in California with a 5.25% APY for a 6-month term.

What Credit Union has the Best CD rates in California?

First Technology Federal Credit Union leads among credit unions with a 5.00% APY for a 12-month term.