5.01% 5-Month CD at World Savings Bank
Feb 23, 2006 - 7:20 AM by Ken Tumin
World Savings is offering a 5.01% APY 5-month liquid internet certificate of deposit. The liquid feature allows you to make deposits and withdrawals of at least $500 without penalties if the balance remains above $5K. There is a limit of $100K balance per household and it's for personal accounts only. Here's the link to the promotional page.
This CD is available to everyone. The application can be submitted online. The account can then be funded by either mailing a check or brining your deposit to a World Savings branch.
Credit for finding this deal goes to FW member link626 who posted it on this FW thread.
This CD is available to everyone. The application can be submitted online. The account can then be funded by either mailing a check or brining your deposit to a World Savings branch.
Credit for finding this deal goes to FW member link626 who posted it on this FW thread.
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Anonymous - #1, Thursday, February 23, 2006 - 3:18 PM
emerging markets is the best bet these days
check out iceland and new zealend non indexed interest rates
http://www.kaupthing.net/?PageID=773
8.24% 3 month currency cd
Exchange rate at maturity makes this a high level risk
http://www.everbank.com/canvas.asp?id=8253&IdPage=pro_wc_cd_rts_pop
Banking Guy (anonymous) - #2, Thursday, February 23, 2006 - 6:53 PM
Here's an important excerpt from Everbank for those considering these World Currency Certificate of Deposits:
FDIC insurance only insures against losses related to bank insolvency – it does not cover any risk associated with changing currency prices. As with all investments, investors can lose money, including principal if the U.S. dollar strengthens against the world currency you own, over the term that you own it. Please only invest with money that you can afford to risk, and as part of a broadly diversified investment strategy.
Kat (anonymous) - #3, Friday, February 24, 2006 - 1:50 AM
Wow. That's better than HSBC's 3 month rate of 4.80%. Now I have to see how soon I can pull my money without losing at least one month's interest.
You are always right on the money, banking guy. For me you're better than Bankrate.com, because you always 'cut to the chase'.
Anonymous - #4, Friday, February 24, 2006 - 6:53 AM
Sure there is a exchange rate risk, but if you follow the exchange rate for the past 6 yeras you can see the fluctuation is minimal. If you were to get a 3 month cd at 8% or more it is a risk of course but highly doubtful you will lose money in the exchange after 3 months
Banking Guy (anonymous) - #5, Friday, February 24, 2006 - 9:01 AM
Kat, Thanks for the feedback. This FW thread may be useful to help decide if it's worth it to move your money from HSBC to World Savings. You might consider opening a HSBC checking account, and then you can just fund the World Savings CD with an HSBC check. I'm not sure of an easy and quick way to transfer it out after the CD matures.
Banking Guy (anonymous) - #6, Friday, February 24, 2006 - 9:06 AM
Thanks for the info on the Everbank WorldCurreny CDs. It looks like something to consider for a part of one's portfolio.
Banking Guy (anonymous) - #7, Friday, March 31, 2006 - 2:11 PM
This liquid CD promotion seems to have ended when checked on Mar 31, 2006. World Savings has a new promotion good through April 22nd: 5.26% APY 6-month CD. Not available online. See post for more info
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