Dedicated to Deposits: Deals, Data, and Discussion

5.75% 8-Month CD at Wachovia California

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Wachovia Bank
Wachovia is advertising a 5.75% APY 8-month certificate of deposit. The minimum deposit is $1,000, and it requires that you have or open a personal checking account. According to the service rep, the free checking account can qualify. This 5.75% yield is only available at Wachovia's California branches. This CD special is not listed at Wachovia's website. It was advertised in today's California newspapers today. The ad is available online here.

It's interesting to note that Wachovia was suppose to have finished the conversion of the 19 Western Financial Bank branches in Southern California by February 12th (see article). Many had been worried that Wachovia wasn't going to offer the high yield CDs and savings accounts that Western Financial had offered. This may not become a common practice at Wachovia, but at least it's a solid deal for the short term.

Wachovia has also been advertising 5-percent-plus yield on its High Performance Money Market Account in some states. A 5% APY is still being advertised in Texas (see post). Readers have mentioned a 5.10% APY being advertised in California. This account requires $10K balance to earn this rate.

Wachovia still has a $50 checking account bonus for its free checking account. Please refer to my Wachovia checking bonus post for more info. Since the free checking account qualifies for the 5.75% CD, I would think you should be able to open this first and then qualify for the CD.

Thanks to the readers who mentioned this new CD special.

  Tags: California, Wachovia Bank, CD rates

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