Today's CD Rates

CD Deal of the Week – Cal First Bank

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California First National Bank has been in operation since 1977, operating out of Irvine, California, and various branches across the same state. The bank operates with all the traditional account offerings for customers, including checking and savings accounts for both consumers and businesses. Further, all Cal First accounts are federally insured, so there’s no risk of loss of value in deposits. This does not include any kind of market investment accounts, however.

Currently, California First National Bank, now dubbed Cal First under its current branding, is offering a 2-year certificate of deposit with a competitive rate of 1.20 percent for funds held for three years and 1.10 percent for funds held for up to two years. Given that many larger corporation banks are barely offering 0.1 percent rates of return on savings accounts, Cal First’s CD rates are quite attractive, especially for those who want to deposit large fund amounts but also want at least some kind of better return on the locked-up funds.

The minimum deposit for a customer to open a savings CD with Cal First is at least $5,000 US Dollars. However, for those opening an individual retirement account CD instead a traditional deposit, they only have to deposit a minimum of $2,000 instead. So there are viable options available for different customers.

All CD choices offered to customers by Cal First are subject to monetary penalties if the funds are withdrawn early before the CD matures, usually coming out of the interest profit earned on the given CD involved. Further, when the CD becomes available for renewal, the interest rate at that time will be at the given market rate versus any kind of predetermined amount or previous amount offered. Customers should also remember that CD amounts can only be insured up to $250,000 under current FDIC protections. Greater deposit amounts won’t be insured for loss by the federal government if something occurs. It's better to break up funds into different accounts if amounts larger than $250,000 need to be saved. More detailed information on CD and general account restrictions are provided on the Cal First's website at .

About John Krystof

John Krystof writes about personal finance and money matters for He was born and educated in Central Europe, but presently resides in New York City.

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