Bank of the West doesn’t make it terribly easy to take advantage of its CD rates.
If you want to purchase a certificate of deposit, you have to call customer service or walk into one of the California-based bank’s 700 branches, which are located in 19 states in the West and Midwest.
In most cases, it’s not worth the effort, although — as at many big banks — there are a few exceptions.
The best deals at Bank of the West are the 36-month CDs, at 1.50% APY, and the 60-month CDs, at 2.00% APY.
The average annual yield large banks and thrifts are offering for 36-month CDs is 1.04% APY, and for 60-month CDs, 1.71% APY.
While Bank of the West’s rates for those terms are above average, they’re still much lower than the top nationally available rates on our CD Rates Leaderboard.
The 36-month leader there pays 2.17% APY; the 60-month leader, 2.93% APY.
Other rates from Bank of the West that are above average, albeit slightly:
3-month CD rate is 0.20% APY versus an average rate of 0.19% APY. (Leaderboard leader is 0.80% APY.)
12-month CD rate is 0.60% APY versus an average rate of 0.47% APY. (Leaderboard leader is 1.41% APY.)
24-month CD rate is 0.75% APY versus an average rate of 0.72% APY. (Leaderboard leader is 1.66% APY.)
You’ll find better deals if you compare Bank of the West’s returns with CD rates from scores of other banks in our extensive database.
Note: Don’t confuse this big bank with the much smaller Bank of the West based in El Paso, which has a top local deal.