Dedicated to Deposits: Deals, Data, and Discussion

Update on World Savings Special CDs

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World Savings has been making slight changes to its Internet CDs over the last month. Unfortunately, the changes have been slightly lower rates. Nevertheless, the rates are still competitive. The two best Internet certificates have a yield of 5.41% APY and have terms of 6 and 10 months. World also has a 5.41% APY 7-month branch special CD (branch rates can vary by state). Only the 10-month term CD requires new money. All have a minimum deposit of $10,000.

In March World was offering 5.56% APY on its 10-month Internet CD and 5.51% on its branch CDs. Sorry to see the rates lower now, but this is common at other banks also.

One note about the Internet CDs, 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. If you open a World CD, you may want to consider World's Free Checking Account (see post). This makes it easy when you want to close a World CD. You can just call and request that the CD funds be transfered to your checking. You can then initiate a transfer from an online account at another bank to withdraw the funds.

World Savings and its parent, Golden West Financial, are undergoing a merger with Wachovia. FDIC insurance is stil listed for World Savings (FDIC Certificate # 27076).
  Tags: CD rates

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