World Savings 5-Month 5.01% Internet CD

World Savings Bank is now offering a 5.01% APY 5-month on their website. The minimum deposit is $10K and the funds must be new to the bank. The maximum limit is $100K.

In February World Savings started advertising a 5.01% 5-month liquid CD which allowed some deposits and withdrawals during the term. This liquid CD seems to have ended sometime in March.

You can still get a 5.26% APY 6-to-11 month CD at World Savings' branches (see post).

I'm glad to see this new 5.01% 5-month CD clearly advertised at World Savings' website. Neither the 5.26% CD nor the liquid CD were advertised. The liquid CD did have a website page but there were no links anywhere on World's main website pages. The 5.26% CD seems to have been advertised by mailers to certain customers. I had called to confirm this when I first heard about it on March 20th. At least World Savings' policy allows them to offer the CDs once a customer asks about them. However, the branches often are not aware of these specials.

Although this latest CD special is clearly advertised, it still requires new funds which means that the money has to come from another financial institution. You can get around this restriction by moving your money, but it adds extra steps which may include time in which your money isn't earning interest.

Credit for this find goes to Victor who left a comment about it in the finding deals post. Thanks!