Umpqua Bank, based out of Portland, Oregon, is a regional bank that serves the residents of five states in the Western U.S. These states are:

• Washington
• Oregon
• California
• Idaho
• Nevada

They were originally formed in 1953 in Canyonville, Oregon when six individuals working in the timber business wanted to create a means to cash their payroll checks. Today, the bank has more than $50 billion in assets and $26.6 billion in deposits and offers a full suite of deposit accounts – both variable and fixed rate.

In our review below, we will focus on the fixed-rate certificates of deposit offered by Umpqua Bank. These products can be opened in-branch or over the phone and are federally insured by the FDIC up to $250,000 per depositor.

We should note that Umpqua Bank used to offer a handful of CD specials that could be opened online by new customers that are no longer available. All new customers must contact them directly at (866) 486-7782 or visit a local branch to begin the CD application process. Current Umpqua Bank customers may login to online banking and access CDs.

Umpqua Bank CD Rates + Account Details

Umpqua Bank currently offers nine standard term CDs (certificates of deposit) and one IRA CD that all require a minimum deposit of $1,000. They also have one CD “special” that comes with a 13 month term and a minimum deposit of $10,000 (or $25,000 if a renewal) which features their highest APY (annual percentage yield). The deposits made into the 13 month CD Special must be new money not currently held in any Umpqua Bank account.

CD Rates

CD Term	APY
1 month	0.01%
3 months	0.02%
6 months	0.05%
12 months	3.25%
13 month Special	4.25%
18 months	0.10%
18 month IRA	0.10%
2 years	0.10%
3 years	0.10%
4 years	0.10%
5 years	0.10%

To put these yields in perspective, the current national average for a 12 month CD and a 60 month CD sits at just 1.59% and 1.37% APY, respectively, according to FDIC data.

Interest on all Umpqua Bank CDs is compounded daily and credited back to the account monthly for every term.

If you need access to funds in your Umpqua Bank CD prior to its maturity date, you will face an early withdrawal penalty. We’ve broken down these fees below.

Grace Period

As with most banks and credit unions, Umpqua Bank has a standard 10-day grace period upon your CD’s maturity in which you may close it out or modify it in any way without facing any fees.

If nothing is done during the grace period your Umpqua Bank CD will automatically renew for the same term and the going APY at that time.

Early Withdrawal Penalties

If you need access to the funds in your CD prior to its maturity you will face an early withdrawal fee. The fee structure is listed below.

CD Term	Penalty
31 days or less	All interest earned on the amount you are withdrawing with a minimum of seven days’ interest.
31 days – 1 year	$25 plus 1% of the amount withdrawn.
1 year or more	$25 plus 3% of the amount withdrawn.

Open and Manage your Umpqua Bank CD

As mentioned, Umpqua Bank allows you to open a CD in one of two ways – in a local branch or by contacting their Digital Store at (866) 486-7782.

Once you’re ready to begin the application process you will want to have the following pieces of personal information readily available:

1. Name, email and phone number
2. Current Address
3. Social security number or government issued ID
4. Driver’s License

When you’re ready to fund your Umpqua Bank CD, you’ll need the following information:

1. Routing number of your current bank or credit union where the funds will be coming from.
2. Current bank account number.

Once your CD is open, you can download the Umpqua Bank app for either IOS or Android to stay on top of interest accrued, maturity date and grace period.

Money Market Account

If you’re interested in a variable-rate deposit account, then you may want to check out Umpqua Bank’s money market accounts. They have 4 different accounts with varying yields, minimum deposit requirements and balance tiers. The 4 accounts are:

• Thrive Money Market
• Prosper Money Market
• Premium Personal Money Market
• Premium Personal Money Market Special

See the table below for a breakdown of yields and deposit tiers.

Money Market Account	Balance	APY
Thrive	$100 – $250k	0.05% – 0.15%
Prosper	$100 – $250k	0.05% – 0.15%
	$250k +	0.50% – 1.00%
Premium Personal MMA	$100k – $999.99k	0.20%
	$1m +	0.50%
Premium Personal MMA Special	$100k +	3.50%

To put the yield above into perspective, the current national average for money market accounts sits at just 0.59% APY, however, some online banks are offering yields above 4.60% APY without any minimum deposit requirements.

Final Thoughts

Most of Umpqua Bank’s CD rates are far below the national average and provide negligible yields. Their 13 month CD Special and Premium Personal money market account Special are their most competitive accounts but still lag behind the top yields found with other online banks and nationally available credit unions – and without any minimum deposit or balance requirements.