California Banking Rates

Recent Changes to Current California CD Rates

california cd rates

May was a turbulent month for CD rates in California. Potential CD customers should keep an eye on California CD rates before they purchase — this gives you some idea of the fluctuations that take place on the market and help you know what changes in California CD rates are normal and what are extreme.

Many California CDs allow you to lock in at the rate you invest at, so you won’t have to worry about rate changes in California CD rates until the term is up.

Recent Changes to Current California CD Rates

  • One West Bank: The FSB 24-month CD account saw a dramatic increase of a full percent in the month of May.
  • Focus One Community Credit Union: On the converse, Focus One Community Credit Union saw their 12-month CD rate fall by .35% to .30%.
  • Sea Air Credit Union: This credit union saw its California CD rates drop by .40% to .35%.
  • Universal City Studios Credit Union: There was a significant decrease in California CD rates for Universal City Studios Credit Union of half a percentage point, bringing the May rate on this California CD to .40%.
  • SkyOne Federal Credit Union: The most significant change in May California CD rates was at SkyOne Federal Credit Union. Rates on 12-month CD accounts tumbled by .84% , leaving the CD rate at .79%.

As noted above, these changes only effect customers who have not already purchased a California CD. However, if you’re in the market for a CD in the state of California, you should keep a close eye on rates. When there’s a rate increase, it’s usually a good time to buy. Conversely, no one would advise you to purchase a CD whose rate has just taken a tumble. Keep an eye on the changes in California CD rates for a month or so before you make your final purchase so you have some idea of the rate changes for California CDs.