Last Updated: 04/18/2025
Pacific Western Bank 12-Month High Yield CD
Unaffiliated
in CD Accounts from Pacific Western Bank
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
5.51%(Verified 06/21/2024)
Minimum Opening Deposit
Starting at $1
Certificate Term
12 months
Pacific Western Bank 12-Month High Yield CD Review
Pacific Western Bank 12-Month High Yield CD are offered by Pacific Western Bank, a bank founded in 1982 and based in Beverly Hills, CA. Pacific Western High Yield CD are available in 50 states and Washington, DC.
Key Takeaways
- Only one CD type available. Pacific Western High Yield CD only offers bump up CD accounts.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 5.51%, which is much higher than the national average for a CD account.
- Small minimum initial deposit. You only need $1 to open an account.
- Limited selection of CD terms. Pacific Western High Yield CD only offers one CD term. This limits your options when trying to set up a CD ladder.
Pros & Cons of Pacific Western Bank 12-Month High Yield CD
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Pacific Western Bank 12-Month High Yield CD FAQ
Are CD from Pacific Western Bank federally insured?
Yes, your Pacific Western Bank CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). 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 Pacific Western Bank offer?
Pacific Western High Yield CD provides the following types of CDs.- 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.
- Bump-up CDs. Bump-up CDs allow you to increase the interest rate you earn on your savings if the going interest rates rise. These CDs are useful in a changing interest rate environment.
What rates does Pacific Western Bank offer on its CDs?
The CD rates for this account have an APY of5.51% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1.6% APY for 12-month CDs.
What terms does Pacific Western High Yield CD offer?
Pacific Western Bank offers CD terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term | 12 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12-Month APY | 5.51% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 5.51% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a CD account with Pacific Western Bank?
Pacific Western High Yield CD require a minimum deposit of $1 to open an account.
What is the grace period for Pacific Western High Yield CD?
Pacific Western High Yield CD 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 Pacific Western Bank 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.
Pacific Western Bank charges an early withdrawal fee.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Annual Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Monday
9:00AM - 4:00PM
Tuesday
9:00AM - 4:00PM
Wednesday
9:00AM - 4:00PM
Thursday
9:00AM - 4:00PM
Friday
9:00AM - 4:00PM
Saturday
Closed