8-month online CD at Wamu: 3.25%
June 22, 2008
Not to steal Citibank’s thunder, but my curiosity got the better of me. Wamu’s offering an online CD for a slightly shorter term and lower rate. I’m not sure that there’s any real benefit to accepting the lower rate for a month less term, but here ’tis:
Minimum deposit to open and obtain APY is $1,000.00. To obtain the APY for the effective date on the day you apply, the Online CD account must be funded within seven (7) calendar days. If received on or after the eighth calendar day, the then effective date APY will be applied. Certificate of Deposit accounts earn a fixed interest rate and APY for the selected term. Fees may reduce earnings. Penalty for early withdrawals apply. Restrictions and limited servicing apply to Online CDs (See, details above). Programs (including, without limit, fees, rates and features) are subject to change without notice.
If you’re willing to take a much longer term, to the tune of 48 months, you could opt for their 4-year CD at a rate of 4% APY/3.93% APR.
These are online CDs only.
I did like their online savings rates, though. For accounts with less than $10,000, you earn 3.3% APY/3.25% APR. I suppose accounts with more than $10,000 earned more interest once upon a time, but the rates are the same for both categories right now.
