Earning interest on savings with the option to increase the interest rate isn’t usually an option when investing in a certificate of deposit (CD). But Pacific Trust Bank offers CD rates that can adjust.
The bank has a “Peace of Mind” CD that offers an adjustable rate. It is geared toward people who may be concerned about depositing money, only to see CD rates rise later while their money is tied up. Details of the CD offer include:
- Minimum initial deposit of $5,000
- 3-year term
- Annual rate adjustment can increase CD rate but never lower it
- Combine maturing CDs into one higher-rate account
The CD allows you to add funds in increments of at least $1,000 at any time during the first year. When adding money the CD rate and maturity date stay the same.
As of Jan. 4, 2010, the CD rate for the Peace of Mind certificate is:
- 1.71% annual percentage yield (APY) for balances of $5,000 to $49,999
- 1.76% APY for balances of $50,000 to $94,999
- 1.81% APY for balances of $95,000 and up
Pacific Trust Bank CDs are insured by the Federal Deposit Insurance Corp. (FDIC) up to $250,000 per depositor.
The bank is based in Chula Vista, Calif. You can open a CD at a branch or online.
- 6 Month CD %
- 1-year CD %
- 2-year CD %
- Money Market Account %
- Savings Account %
- 30-year Fixed Mortgage 3.62 %
Bank rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming mortgage rates
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