New World Savings CD Special: 5.61% 7-Month CD
Jun 6, 2006 - 3:16 PM by Ken Tumin
World Savings has a new secret CD. It's a 5.61% APY 7-month CD. The minimum deposit is $10K and the maximum is $100K. As usual, it requires funds new to World Savings. The application must be filled out by June 24, 2006 and it must be funded within 10 days of that date. The penalty for early withdrawal is 3-months interest.
A reader informed me this morning of an email being sent by World Savings to select customers regarding this new certificate of deposit special. I called and was able to confirm it. The email has the following link to the promotion: www.worldsavings.com/emailspecial
The application must be done online at this link and printed out. You must then either mail in the application with a check or visit a local branch. The application will have a reference number that will verify the rate to World Savings. As usual, if you find out about this deal on your own, they seem to allow you to participate.
This is a little different than the 5.51% CD special that ended last Saturday. In that case there was no online page. You had to visit a branch to fill out the application. Last month I was able to open that CD without any problems. One thing to note is that the grace period when a World Savings CD matures is only 6 days. If you're not careful and let the CD renew, you'll likely get stuck with a low rate CD.
Another thing to note regarding these World Savings CD specials is that it pays to have a high interest money market account or checking account. This allows you to be earning decent interest while you're waiting for the check to clear. I had opened the CD on a Saturday at the World Savings branch. The CD took effect that day but the check wasn't debited from GMAC Bank until Wednesday. The money continued to earn high interest at GMAC for those days.
World Savings also has a decent CD special of 5.31% APY for 5-months that is advertised on their home page.
A reader informed me this morning of an email being sent by World Savings to select customers regarding this new certificate of deposit special. I called and was able to confirm it. The email has the following link to the promotion: www.worldsavings.com/emailspecial
The application must be done online at this link and printed out. You must then either mail in the application with a check or visit a local branch. The application will have a reference number that will verify the rate to World Savings. As usual, if you find out about this deal on your own, they seem to allow you to participate.
This is a little different than the 5.51% CD special that ended last Saturday. In that case there was no online page. You had to visit a branch to fill out the application. Last month I was able to open that CD without any problems. One thing to note is that the grace period when a World Savings CD matures is only 6 days. If you're not careful and let the CD renew, you'll likely get stuck with a low rate CD.
Another thing to note regarding these World Savings CD specials is that it pays to have a high interest money market account or checking account. This allows you to be earning decent interest while you're waiting for the check to clear. I had opened the CD on a Saturday at the World Savings branch. The CD took effect that day but the check wasn't debited from GMAC Bank until Wednesday. The money continued to earn high interest at GMAC for those days.
World Savings also has a decent CD special of 5.31% APY for 5-months that is advertised on their home page.
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Anonymous - #1, Tuesday, June 6, 2006 - 6:34 PM
I think they will come up with their REAL secret CD in two weeks. This is just another internet-CD promotion with the only exception being the method of promotion.
scott61 (anonymous) - #2, Wednesday, June 7, 2006 - 7:39 AM
Looks like you must mail this one,
" Not available in branches. Please note that World's special promotional gift offers are not available with this CD."
Anonymous - #3, Wednesday, June 7, 2006 - 10:55 AM
I love the World Savings CD's. Each time they come up with a better one and no problem with the new money, even though I cash out matured CD's and then write a personal check from another bank. I will not have any new money until July and please assure me that these specials will be upgraded. Anonymous says the real CS's will be coming later, I sure hope so. Thanks for keeping the daily updates, I depend on you.
compound interest (anonymous) - #4, Wednesday, June 7, 2006 - 11:54 PM
Thanks again for keeping the site the best of the best.
This is the irst place I check every day :-).
Always looking to you for the next ('secret') World Saving offer, just to mention one of the many goodies you continually find for us.
Anonymous - #5, Wednesday, June 14, 2006 - 3:38 PM
Where did you find that 10-days funding grace period? I have a CD maturing with World Saving on 6/30 and 7/3. If I were to apply right on 6/24, then do I have 10 'working days' to fund the CD? 10 working days from 6/24 takes it down to 7/5. Is this correct?
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