El Dorado Savings Bank Rates Reviewed
El Dorado Savings Bank was founded in 1956 and its headquarters are located in Placerville, California. It has assets totaling $2 billion and deposits totaling $2 billion, ranking it as a large bank.
El Dorado Savings Bank has a full suite of savings products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, and mortgage products.
This quick guide will compare El Dorado Savings Bank money market, savings account, and CD rates to other leading financial institutions and annuity rates.
Without further ado, let’s dive in!
Table of Contents
El Dorado Savings Bank CD Rates
| Term | Minimum | APY |
|---|---|---|
| 3 Month | $500.00 | 0.10% |
| 6 Month | $500.00 | 0.16% |
| 1 Year | $500.00 | 0.20% |
| 2 Year | $500.00 | 0.40% |
| 3 Year | $500.00 | 0.55% |
| 5 Year | $500.00 | 0.90% |
El Dorado Savings Bank Savings Account Rates
| Standard Savings | $100.00 | 0.03% |
El Dorado Savings Bank Money Market Rates
| Minimum Balance | APY |
|---|---|
| $5,000.00 | 0.10% |
| $15,000.00 | 0.03% |
| $25,000.00 | 0.04% |
| $50,000.00 | 0.06% |
| $100,000.00 | 0.08% |
| $1,000,000.00 | 0.10% |
CDs vs Fixed Annuity
A multi year guaranteed annuity (MYGA) is essentially a CD that is issued by an insurance company rather than a bank. The table below compares and contrasts some of the key differences and similarities between the two.
| FIXED ANNUITY | CD | |
|---|---|---|
| Issued By | Insurance Companies | Banks |
| Investment Amount | $2,000 - $1,000,000 | Essentially Any Amount |
| Investment Term | 2 years - 10 years | 3 months - 5 years |
| Interest Rates (APY) | Varies by product. | Varies by bank, term and investment amount. |
| Liquidity | Usually, 10% annually or interest earned. | Almost always accumulated interest. |
| Guarantees | Backed by Insurer & State Guaranty Associations. | Backed by the FDIC. |
| Death Benefit | May avoid probate. | Probate process required. |
Today's Best Guaranteed Annuity Rates
Fixed annuity rates are guaranteed for a set number number of years.
| Term | Annuity | Rate | AM Best | W/Ds | ||
|---|---|---|---|---|---|---|
| 2 Years | SILAC | Secure Savings Elite | 4.75% | B+ |  | |
| 3 Years | Atlantic Coast Life | Safe Haven | 5.53% | B+ | | |
| 4 Years | Americo | American Pathway | 5.15%% | A |  | |
| 5 Years | Ibexis | MYGA Plus | 5.80% Simple | A- | | |
| 6 Years | Americo | Platinum Assure | 5.45% | A | | |
| 7 Years | Atlantic Coast Life | Safe Harbor | 5.64% | B++ | | |
| 8 Years | Oxford Life | Multi-Select | 4.95% | A | | |
| 9 Years | Oxford Life | Multi-Select | 4.95% | A | | |
| 10 Years | Atlantic Coast Life | Safe Haven | 5.35% | B++ | |
Today's Top CD Rates
3 Month CD Rates
| Bank | Rate | Minimum Deposit To Open |
|---|---|---|
| Popular Direct | 4.05% APY | $10,000.00 |
| Citibank | 3.25% APY | $500.00 |
| America First Credit Union | 2.30% APY | $500.00 |
12 Month CD Rates
| Bank | Rate | Minimum Deposit To Open |
|---|---|---|
| First Internet Bank | 4.75% APY | $1,000.00 |
| Popular Direct | 4.75% APY | $10,000.00 |
| Alliant Credit Union | 4.60% APY | $1,000.00 |
2 Year CD Rates
| Term | Bank | Rate | Minimum |
|---|---|---|---|
| 24 Months | Rising Bank | 3.80% APY | $1,000 |
| 24 Months | Bread Savings | 3.75% APY | $1,500 |
| 24 Months | American Heritage Credit Union | 3.75% APY | $500 |
| 24 Months | Merrick Bank | 3.70% APY | $25,000 |
| 24 Months | Synchrony Bank | 3.40% APY | $.01 |
3 Year CD Rates
| Bank | Rate | Minimum Deposit To Open |
|---|---|---|
| Alliant Credit Union | 4.60% APY | $1,000.00 |
| Popular Direct | 4.55% APY | $10,000.00 |
| BMO Harris | 4.50% APY | $1,000.00 |
4 Year CD Rates
| Term | Bank | Rate | Minimum |
|---|---|---|---|
| 48 Months | Bread Savings | 4.15% APY | $1,500 |
| 48 Months | American Heritage Credit Union | 4.00% APY | $500 |
| 49 Months | NASA Federal Credit Union | 3.85% APY | $10,000 |
| 48 Months | Merrick Bank | 3.75% APY | $25,000 |
| 48 Months | PenFed Credit Union | 3.50% APY | $1,000 |
5 Year CD Rates
| Bank | Rate | Minimum Deposit To Open |
|---|---|---|
| BMO Harris | 4.50% APY | $1,000.00 |
| Bread Savings | 4.50% APY | $1,500.00 |
| Popular Direct | 4.50% APY | $10,000.00 |
CD Interest Calculator
Use the calculator below to see how much interest you will earn in a CD or annuity. Enter your initial investment amount, the fixed annuity or CD rate and term in the calculator below then hit CALCULATE.
By default, you’ll see what your annuity or CD will be worth at the end of the investment term based on compounding interest and no withdrawals.
If you would like to know how much interest you will earn monthly scroll past the bar chart below and click the monthly tab (just to the right of the annual tab).
Key Take-Aways
A certificate of deposit is very similar to a fixed annuity. If you are looking for a safe and steady way to grow your retirement savings you can learn more about fixed “CD Type Annuities” here.
If you would like a personalized annuity quote you can contact us or use one of our fixed annuity calculators to see how much an annuity would pay you.
FAQs
Are Annuities FDIC Insured?
While not FDIC insured, State Guaranty Associations provide a safety net for their state’s annuity policyholders. These Guaranty Associations guarantee policyholders continue to receive coverage (up to the limits spelled out by state law) even if their insurer is declared insolvent. Source: “Learn to Invest, Investment Types, Annuities, Fixed Annuities.” Financial Industry Regulatory Authority (FINRA). Visit FINRA’s Fixed Annuities Webpage
Can you Loose money in a fixed annuity?
You can not lose money in a fixed annuity. However, guarantees are backed by the claims-paying ability of the issuing insurance company so it is important to consider an insurer’s financial rating when shopping for an annuity.
Does a Fixed Annuity Have any Fees?
Fixed Annuities do not have any fees or expenses unless you add an additional rider that was not mentioned on this page.
El Dorado Savings Bank Contact Info
Customer Service Phone Number:
Mailing Address:
4040 El Dorado Rd.
Placerville, CA 95667
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