Investing in certificates of deposit is a must for many people because we are all aware of how important saving is. With the problems in Medicare and the 401k not being enough for retirement, our only saving grace is the money we’ve set aside for ourselves. With stocks being so volatile, one of the safest ways we can make our money grow is through certificates of deposit.

One bank that has the best rates in terms of certificate of deposits is Universal Bank. This is a private bank with total assets of around $450 million. Universal Bank’s main headquarters is in West Covina, California with branches around Monterey Park, Los Angeles, Eagle Rock, Rosemead, and some other places. Those who want to check up on this bank can go to their website and inquire further what they want to know. Right now, they do not just offer good rates with regards to certificate of deposits but also with their mortgages and other financing services for real estate.

Certificate of Deposit Rates

With Universal Bank, it is possible to open a certificate of deposit with a minimum amount of $1,000. This is already a good deal especially now that it is so much harder to acquire such an amount. Universal Bank’s terms range from a month to three years. Those who will have a deposit of $1,000- $9,999.99 for the term of a month, the rate is 0.20% with an annual percentage yield or APY of 0.20%. For deposits of $25,000- @49,999.99 within the same term, the APY and interest rate is 0.30%. For deposits of $100,000 and more with the term of 30 days, the interest rate as well as the APY is 0.40%. On the other hand for the three years term, the APY and interest rate for deposits of $1,000 – $100,000 and more are 0.60%.

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