California Banking Rates

Best Interest Rates in California: Historical Comparison

Interest rates on banking products have gone through many changes over the past couple of years, and in most cases, for the worst. Go Banking Rates is performing a state-by-state comparison of interest rates in 2013 versus 2011 to find out exactly how rates on savings accounts and CDs have fared over time, and local depositors can use this information to find out whether their state offers better savings opportunities than the rest of the county.

This installment examines California credit union and bank interest rates. Below you will find a historical comparison of average interest rates offered by banks in California for 6-month, 1-year and 2-year certificates of deposit, and well as savings accounts. Additionally, we compare how California interest rates rank against the rest of the U.S. states and Washington D.C. in 2011 versus today.

Average California Interest Rates

Below are the average California interest rates from two years ago compared with average interest rates today:

February 2011

  • 6-Month CD: .26% APY
  • 1-Year CD: .68% APY
  • 2-Year CD: 1.07% APY
  • Savings Account: .22% APY

January 2013

  • 6-Month CD: .46% APY
  • 1-Year CD: .37% APY
  • 2-Year CD: .53% APY
  • Savings Account: .14% APY

Steadiest Rate: Savings account (.08% difference)

Biggest Drop: 2-year CD (.54% difference)

california interest rates

Historical California Credit Union and Bank Rankings

California Rank
Account Type 2011 2013
6-Month CD 44th 39th
1-Year CD 48th 44th
2-Year CD 45th 48th
Savings Account 45th 49th

About This California Interest Rates Study

Interest rates used in this historical rates comparison are pulled from the Go Banking Rates database containing interest rates offered by more than 4,000 banks and credit unions. Present rates as of January 31, 2013 were compared against Go Banking Rates archived rate data as of February 28, 2011.

Rates are based on individual institutions’ published online rates, assuming a $10,000 deposit. Note that current rates may have changed since the publish date. It’s recommended that anyone interested in opening an account based on the information above first verify rates.