California Coast Credit Union’s Limited-Time 9.5% APY Celebration CD
- California Coast Credit Union is currently offering a high 9.5% APY on a 5-month CD, open to anyone nationwide.
- The CD has some restrictions, including a maximum deposit of $3,000, limiting potential earnings.
- To qualify for the 9.5% rate, having another active account with Cal Coast, like a checking account, is necessary.
- If dealing with the deposit cap and the extra account seems burdensome, exploring other top CD offers would likely be more beneficial.
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The Fine Print for This Remarkable 9.5% Rate
In October 2023, the daily top nationwide CD rate hit 6.50% APY, the highest in over 20 years. Therefore, a 9.5% rate is significant news.
To celebrate its 95th anniversary, California Coast Credit Union introduced the 9.5% “Celebration CD” for 5 months, accessible to individuals across the nation.
However, specific requirements and limitations are tied to earning the high 9.5% rate, as outlined below:
- You can deposit up to $3,000 in this CD (minimum deposit $500) and only open one per person.
- Within 30 days, you must maintain an additional Cal Coast account from a selection of eligible accounts.
- The account types include a checking account, money market account, regular or IRA CD, or a funded consumer loan with specific balances.
- If requirements aren’t met in 30 days, the APY drops to a standard 0.10%, far lower than the promoted rate.
While a 9.5% return is appealing, the $3,000 limit significantly constrains potential earnings.
The hassle of maintaining an extra account for a minimal financial gain may not be worthwhile for everyone.
There are numerous other lucrative options available for consideration.
A Top-Ranked CD—The Better Choice
We analyze and rank CD rates from over 200 institutions daily, providing a curated list of top rates for various CD terms, ensuring you can secure a leading rate for your investment.
Today’s top CD rates range from 4.80% to 5.51% for different terms, all offered by federally insured nationwide institutions.
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How We Find the Best Savings and CD Rates
We meticulously track and rank the top-paying savings and CD rates from a wide array of federally insured banks and credit unions to provide you with the most beneficial options.
Our selection criteria ensure that listed institutions are federally insured and have reasonable initial deposit requirements to streamline your decision-making process.