Dedicated to Deposits: Deals, Data, and Discussion

5.56% 10-Month Internet CD Special at World Savings

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World Savings just increased the rate on its Internet CD special from 5.45% to 5.56% APY. The term remains the same at 10 months, and it has the same requirements as before: $10K minimum, $100K maximum, and new money required. You must open the CD online and fund it by check. It's not available at the branches, but you can choose to deposit the check at a branch. You can also mail the check.

This comes just a few days after World Savings increased the rate on its in-branch CD special. That one has an APY of 5.51% with terms of either 6 or 9 months (see post).

World Savings and its parent, Golden West Financial, are undergoing a merger with Wachovia. Currently, World Savings is FDIC insured.

Thanks to the reader who mentioned this new rate on the CD special.

  Tags: CD rates

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Comments
6 Comments.
Comment #1 by Anonymous posted on
Anonymous
If I open an account today & mail the check, and if the rate changes tomorrow (for ex), will I get 5.56% (which is as of today) OR the APY on the day the funds get deposited into my account?

I am thinking the latter, but just wanted to confirm. Anyone? Thanks

1
Comment #2 by Anonymous posted on
Anonymous
I spoke with a CSR today. If you submit the application online, the rate in effect at the time of the submission will be locked in for 10 days.

1
Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for checking on this.

1
Comment #4 by Anonymous posted on
Anonymous
It's also possible to get a 10-day lock in the branch if you're trying to tranfer funds from another bank (e.g., CD maturing shortly after the deadline day). They have a "Guaranteed Rates for Drafted Funds" form for this.

1
Comment #5 by Anonymous posted on
Anonymous
Also, depositing the check at a branch is the same as opening at a brnach. You go through the same complicated process (World loves paperwork), except you first present the form you printed online. They still have to type in the info, usually making mistakes (frankly, World's paperwork usually exceeds their employee's ability to follow all of it without error).

1
Comment #6 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info.

There's also a 5.45% APY 5-month internet CD special listed here. This one has no new-money requirement.

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