Wilshire State Bank is offering one of the best CD rates available these days. The bank is offering a 12-month certificate of deposit that currently has a yield of 2.30 percent. 

The bank is also offering an 18-month certificate of deposit which currently has an annual percentage yield of 2.40 percent.

Wilshire State Bank started operations in 1980, their corporate head quarters is in Los Angeles, California. The bank has several branches in California and in three other states including New York, New Jersey and Texas.

The certificate of deposits are not like tradtional certificates of deposits. Wilshire Bank is calling them flex CDs and they give you the ability to make additional deposits and up to six withdrawals before maturity. The minimum opening balance is $10,000.

You can also make an unlimited amount of deposits between $1,000 and $95,000. The early CD withdrawal penalty is three months of simple interest.