Pacific Mercantile Bank offers Personal IRA products that require a minimum deposit of $7,500. The IRA rates are accurate as of July 14, 2009 but may change after account opening. There may also be fees and withdrawal penalties which could lower your earnings.
- 18 month CD – 2.53%APY
- 2 year CD – 2.53%
- 5 year CD – 2.53%
There is a maintenance fee of $15 for accounts opened prior to January 1, 2006 with account balances below $10,000.
Pacific Mercantile bank with locations in California is insured with FDIC, however, it only has one star rating from bankrate.com.