WAMU 5% 12 Month CD

Washington Mutual Bank (WAMU) has just released a 12 month CD with a 5% APY rate. This rate is only offered until 8/29. There is a minimum investment of $1000, but that is it. You are not required to open a checking account, savings account etc.

This 5% 12 month CD is being offered as an Online CD, meaning that it doesn’t require a visit to a branch. The CD, however, is available at branches if you feel more comfortable opening it that way.

I cannot comment on WAMU’s customer service as I have never had an account with them. There is talk that they are desperate for deposits due to the recent bank issues, but as long as you invest less than the $100,000 you will be covered by FDIC insurance.

A 5% APY for one year is a pretty good rate as I don’t beleive we will see 5% online savings accounts for a while until the Fed starts to increase interest rates, and with the current housing crunch I highly doubt it will start happening soon.

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NOTE: For posts that contain bonuses, be sure to read the post for bonus expiration dates. Links may work but the bonus may have expired.

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