Exchange Bank of California Certificates of Deposit

Exchange Bank of California Certificates of Deposit Review

Exchange Bank of California Certificates of Deposit are offered by Exchange Bank of California, a bank founded in 1890 and based in Santa Rosa, CA. Exchange Bank of California Certificates of Deposit are available in 1 state across the USA.

Key Takeaways

• Small selection of CD account types. Exchange Bank of California Certificates of Deposit only offers IRA and traditional CDs.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.31%, which is much higher than the national average for a CD account.
• $1,000 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
• Wide selection of CD terms. Exchange Bank of California Certificates of Deposit allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.

Pros & Cons of Exchange Bank of California Certificates of Deposit

Exchange Bank of California Certificates of Deposit FAQ

Are CD from Exchange Bank of California federally insured?

Yes, your Exchange Bank of California CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #8468). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does Exchange Bank of California offer?

• Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs for another term.
• IRA CDs. An IRA CD is a type of IRA that consists entirely of CDs. In general, you can invest in CDs in any IRA, but Exchange Bank of California Certificates of Deposit offers a CD that is specifically for retirement.

What rates does Exchange Bank of California offer on its CDs?

Exchange Bank of California Certificates of Deposit offers an APY starting at 0.1% and ranging up to 0.31%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What is the minimum deposit to open a CD account with Exchange Bank of California?

Exchange Bank of California Certificates of Deposit require a minimum deposit of $1,000 to open an account.

What is the grace period for Exchange Bank of California Certificates of Deposit?

Exchange Bank of California Certificates of Deposit does not specify what their grace period is. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does Exchange Bank of California charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the term ends.

Exchange Bank of California does not charge an early withdrawal fee.

Exchange Bank of California does charge any of the fees we track.