5.38% 6-Month CD at a Washington State Bank (Variable Rate)

Seattle Savings Bank is offering a 5.38% APY variable rate certificate of deposit called the Option Plus CD. The rate is indexed to the Prime rate. There is no penalty for withdrawal after the first 6 months, with a 30-day notice. During the first 6 months, the penalty for early withdrawal is 90 days of interest. The minimum opening balance is $25K. There's a $10K minimum balance. Deposits of $1K minimum are allowed during the first six months. The bank is also offering a 3-month Option Plus CD with an APY of 5.12%

The bank has branches in and around Seattle, Washington.