5.00% Savings Account at Countrywide ($50K min)
Jun 2, 2006 - 8:51 AM by Ken Tumin
Countrywide increased the yield on their new saving account (Savingslink) from 4.50% to 5.00% APY on balances between $50K and $100K. The 5% also applies to balances between $100K and $2.5M. The previous APY on this tier was 4.85%. For those with over $2.5M, you're out of luck. The APY remains at 1.50%.
For those with balances between $1K and $50K, the APY remains at 4.25%. No interest is earned for balances under $1K.
This is a new savings account at Countrywide. I first mentioned it in this May 19th post. It's very similar to other online savings accounts. There are no minimum balance requirements and no monthly fees. You can link up to 3 external accounts, and all links can be done online.
Credit for this rate update goes to scott61 who mentioned it in the finding deals post.
For those with balances between $1K and $50K, the APY remains at 4.25%. No interest is earned for balances under $1K.
This is a new savings account at Countrywide. I first mentioned it in this May 19th post. It's very similar to other online savings accounts. There are no minimum balance requirements and no monthly fees. You can link up to 3 external accounts, and all links can be done online.
Credit for this rate update goes to scott61 who mentioned it in the finding deals post.
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Anonymous - #1, Saturday, June 3, 2006 - 12:27 PM
Equifax shows my address as a PO Box which is what I want. That makes it impossible for me to open an account with this bank or others that use the same system without going through phones calls which I need to have someone else do for me because I am deaf. Too much trouble.
Banking Guy (anonymous) - #2, Saturday, June 3, 2006 - 2:38 PM
Sorry to read about this difficulty. Do you think this is due to the hard credit check that Countrywide performs? Perhaps a soft credit check or a Chex system check wouldn't have this restriction?
Anonymous - #3, Monday, June 12, 2006 - 3:18 PM
The problem with Countrywide bank is that they do a hard pull credit check whenever you open an account. Even if you already have opened an account, they will do another one. They refuse to stop this practice. You should advise your readers to stop using them until they stop this practice.
Banking Guy (anonymous) - #4, Monday, June 12, 2006 - 6:03 PM
Thanks for the info about CW's hard credit pulls. It does seem to be a total disregard to their customers to do this for every account opening. It's bad enough for the first account opening. I'll be sure to mention this for all future posts on CW.
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