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Silvergate Bank Drastically Reduces Short Term CD Rates

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Silvergate Bank, headquartered in La Jolla California, recently lowered their short term CD rates by a considerable amount. The largest reduction was on Silvergate Bank's regular 1 year certificate of deposit. 1 year CD rates were reduced 78 basis points from 1.08 percent to 0.30 percent.

6 month CD rates were also lowered to 0.20 percent with a yield of 0.20 percent. The previous 6 month CD rate was much higher at 0.75 percent with a yield of 0.75 percent. These rates are for Silvergate Bank's High Yield Online Certificates of Deposit. To search for CD rates and terms, search monitorbankrates.com.

Silvergate Bank Certificate of Deposit Summary

  • FDIC insured to the maximum amount allowed by law
  • You can open and fund the CD account online
  • Fixed CD rates guarantee your return
  • CD terms range from 6 months to 3 years
  • $25,000 minimum to opening CD account deposit
  • There are no monthly CD account maintenance fees

Current List of Regular CD Rates at Silvergate Bank

ProductAPYRateMin. Deposit
6 month CD0.200%0.200%$25,000.00
1 yr CD0.300%0.300%$25,000.00
2 yr CD1.470%1.460%$25,000.00
3 yr CD1.660%1.650%$25,000.00

Current List of Jumbo CD Rates at Silvergate Bank

ProductAPYRateMin. Deposit
6 month jumbo CD0.200%0.200%$100,000.00
1 yr jumbo CD0.300%0.300%$100,000.00
3 yr jumbo CD1.660%1.650%$100,000.00

Author: Brian McKay
July 24th, 2016