Residents of California can take advantage of a very good money in the bank deal with Metro United Bank . They offer the top cd rates which include a 2.25% APY 12-month CD and a 6-month certificate of deposit which earn 2.05% APY.

These best cd rates can be enjoyed with an initial deposit of $5000. We saw the promo on the bank’s website recently and it is scheduled to end on September 8. Interest consumers can still take advantage of these current interest rates.

The bank does not impose any monthly service charge and does not set any minimum daily balance to avoid any fees. The bank offers certificates of deposits which can range from a month to 3 years but the details are not specified on their website. It might be best to contact their customer service representative to get the latest figures.

Earnings do not compound unless account holders opt to credit it to their account on a monthly basis. It also depends on their tiered structure. If you plan to close an account you should also wait for the interests to be credited or you can say goodbye to your profits.

Like other banks, you also have to ask for any early withdrawal penalties which the bank may impose.

There is no online application on the promo page so it seems that a branch visit is necessary. They have offices in North and Southern California particularly in San Diego, San Francisco, Irvine, San Mateo, Alhambra, and City of Industry.

Bankrate.com gave a rating of 3.5 stars while BauerFinancial only issued 2 stars. As you can see, the performance reviews are mixed so it will be wise to stay within the limits of the FDIC.

Metro United is listed with the FDIC with certificate number 33401.