Image Courtesy: www.pixabay.com
You are viewing rates from banks across Torrance
Below are 5-year CD Rates from banks that are located in Torrance, { California}. Five Year Certificates of Deposit (CD) are generally the longest term CD that most banks will offer. They tend to offer the highest rates but require the longest commitment. Five year CDs are especially popular in a declining interest rate environment as depositors can lock money in at the highest rate possible for the longest period of time. They are also popular with depositors who are willing to lock up money for five years in return for extra yield.
Torrance, CA - October 5, 2024
5 Year CD National Average : 0.91% ?
Banks | APY | MIN | MILES ? | |
---|---|---|---|---|
3.80% |
$1,000 |
- |
Learn More
|
|
Rate History: 3.95% → 3.85% → 3.80% |
||||
3.35% |
$500 |
- |
Learn More
|
|
Rate History: 3.20% → 3.35% |
||||
3.35% 0.35% |
$250,000 $1,000 |
- |
Learn More
|
|
Rate History: 3.45% → 3.65% → 3.35% |
||||
NORTY FLATZ | Dec 3, 2019 Have done business with "Hope's" San Diego branch for a few years. Always courteous and helpful. Looking forward to doing business with them in the future. Read More |
||||
2.00% |
$1,500 |
- |
Learn More
|
|
Ryan | Feb 13, 2018 Is it legal to bring someone into the branch and shake them down and threaten them when they want to redeem their CD upon maturity (as opposed to allowing it to automatically renew)? If not, these guys an... Read More |
||||
1.85% |
$1,000 |
- |
Learn More
|
|
1.77% |
$1,000 |
- |
Learn More
|
|
1.40% |
$500 |
- |
Learn More
|
|
samcasino | Jan 30, 2021 Sterling hasn't offered a 1% rate for over a year. Best one can do now is .20%. The rates shown on this site are grossly outdated. Read More |
||||
1.24% |
$10,000 |
20.07 |
Learn More
|
|
1.16% |
$10,000 |
16.90 |
Learn More
|
|
1.01% |
$10,000 |
22.49 |
Learn More
|
|
Small Company | Apr 9, 2020 I would stay away from this bank. It was much better run when it was Valley Community Bank, but went into the toilet when it was bought by Bay Commercial Bank. Their online banking terms and conditions cha... Read More |
||||
1.00% |
$10,000 |
15.60 |
Learn More
|
|
1.00% |
$100,000 |
18.70 |
Learn More
|
|
maris | Mar 2, 2019 does require us citizenship? Read More |
||||
0.90% |
$10,000 |
19.05 |
Learn More
|
|
0.75% |
$100,000 |
17.05 |
Learn More
|
|
kristinalouise | Dec 6, 2018 I have to say, as a local business owner, I purposefully chose to work with a 'local business bank'. I moved my checking over when I incorporated and assumed that I would go to them when my needs increased... Read More |
||||
0.75% |
$100,000 |
20.60 |
Learn More
|
|
0.75% |
$10,000 |
14.87 |
Learn More
|
|
0.75% |
$100,000 |
4.43 |
Learn More
|
|
0.70% |
$10,000 |
17.05 |
Learn More
|
|
kristinalouise | Dec 6, 2018 I have to say, as a local business owner, I purposefully chose to work with a 'local business bank'. I moved my checking over when I incorporated and assumed that I would go to them when my needs increased... Read More |
||||
0.65% |
$10,000 |
1.94 |
Learn More
|
|
RHG | Jan 29, 2019 The Bank does not have this product. Read More |
||||
0.55% |
$10,000 |
3.80 |
Learn More
|
|
0.50% |
$1,000 |
16.88 |
Learn More
|
|
sharzns | Jun 17, 2022 Midfirst doesn't seem to encourage any accounts other than checking. I have two. I've tried opening others, but they talk me out of it every single time. Read More |
||||
0.50% |
$10,000 |
4.43 |
Learn More
|
|
0.50% |
$10,000 |
6.56 |
Learn More
|
|
Harry Reese | Jul 22, 2015 Fix your automated system so I can find information after you close Read More |
||||
0.45% |
$10,000 |
17.06 |
Learn More
|
|
0.45% |
$10,000 |
24.89 |
Learn More
|
|
0.45% |
$10,000 |
- |
Learn More
|
|
0.40% |
$10,000 |
15.79 |
Learn More
|
|
Michael strubert | Jun 8, 2021 Someone from Beneficial State Bank tried to cash a fraudulent check on my EECU account for $469.99. On 6/1/21. Read More |
||||
0.40% |
$50,000 |
- |
Learn More
|
|
0.30% |
$10,000 |
20.60 |
Learn More
|
|
0.30% |
$10,000 |
24.24 |
Learn More
|
|
Bauhinia C | Mar 15, 2023 Oh Natty natty natty, haha the fact you need to take out (probably a second) loan for $160,000 on a $625,000 sends up all kinds of red flags. The bank was right to run away from YOU dear hahaha. Read More |
||||
0.15% 0.10% |
$1 $0 |
- |
Learn More
|
|
Austin | Aug 25, 2021 I have banked with Umpqua in Gig Harbor since 2013 and although there money market rates are not good didn’t have much problem until I moved to Spokane and started using this branch on south hill. They ... Read More |
||||
0.15% |
$500 |
- |
Learn More
|
|
MrBond | Feb 25, 2023 I have been working for this company more than 5 years. I would not recommend any investment with First Citizens Bank. They are the worst performer on the market based on the customer and employee reviews... Read More |
||||
0.00% |
$10,000 |
2.16 |
Learn More
|
BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.
Five-year CDs are the big kahuna of the CD world. While banks may offer six-year, seven-year, or even 10-year CDs, the five-year is the longest of the most commonly offered terms. The 5-year CD is therefore often the highest offer at your local bank. Therefore, the temptation for those looking for yield is to open one, deposit money, and forget about it for five years. This could be a mistake. In rising rate environments a five-year CD may not be a good investment.
Like every other CD term, five year CDs from FDIC insured banks are protected up to FDIC limits (generally $250,000 per account holder per bank). If your deposit is over the FDIC limit then you may not receive the uninsured money in case of a bank failure.
The principle threat to a a five year CD is inflation. If the CD is opened in a low rate environment, and rates and inflation subsequently rise, then inflation will erode the value of the certificate of deposit over its five years. For example, if a depositor opened a five year CD in year 1 with a yield of 2.05% APY and inflation at 1.5%, then the real return is .55 percentage points. But if inflation rises the next year to 2.5% and stays there for the next four years, then the CD in real terms is losing money every year: 2.05% - 2.5% = -.45%.
While it is impossible for anyone to predict too far into the future, savers should be cognizant of the economic environment before locking up money for a five year time-period. Our rate analysis page provides some insight into where we think rates will go.
On the other hand, if rates are falling and will continue to do so for some time due to an economic recession then it makes sense to lock in a higher rate with a five year CD. Savers who opened five year CDs in 2008 immediately after the financial crisis were able to lock in rates in the 6% range, a great move considering two years later a five year CD paid below 3%.
Five-year CDs currently pay about 1.00% more in interest than a one year CD. In general, CDs of this duration are best opened as part of a laddered CD portfolio or if the depositor thinks that rates will either stagnate or drop over the next couple of years.
Opening a five year CD in a branch is relatively easy and similar to every other CD term. Most banks require the customer be a resident of the United States and most branch-based banks ask that the account be opened in the bank. Funding can be performed by transferring money that is already located at that bank or by check or ACH transfer from another bank. The CD can be opened that day and the rate locked.
With longer term CDs, savers should make sure they put a record of the CD in a safe place and that if they move, they forward their new address to the bank. In cases where the bank cannot find the CD holder, the bank may hand the funds over to a state authority as a lost deposit, and it will require onerous paperwork to reclaim the money.
All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.
To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.
Find out how much extra money you can earn by moving your bank money into an account that pays more.
Use or Change these Amounts And Rates