Dedicated to Deposits: Deals, Data, and Discussion

5.50% 6-Month CD at Countrywide Bank in Some States


Countrywide Bank continues to offer a very competitive 6-month CD rate. The rates have declined a little since my last post two weeks ago. Just like before, the best rate is available at their financial centers rather than online. Countrywide Bank's best internet rate is currently 5.35% APY for a 6-month term. But residents of certain states can get up to 5.50% APY for the 6-month term. I've verified this for Colorado and California. A yield of 5.40% APY is available in New Jersey, Texas and Florida. If I didn't include your state, please check at Countrywide and leave a comment about the rate. There are also higher local rates for the 3, 9 and 12 month terms. The minimum deposit is $10,000.

With the issues Countrywide has been having in its mortgage business (see post), it seems prudent to stay below the FDIC insurance limits. Note, there are many ways to extend your FDIC coverage over $100K. However, you have to be careful, especially if you use POD's. Please see this post for more info.

For more info on Countrywide's online savingslink account and CDs, please see this post.

To review Countrywide Bank's FDIC information, please see their FDIC page.

Thanks to the reader who emailed me the update on the local CD rates.

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Comment #1 by Anonymous posted on
The rate listed for Michigan is 5.30% for the 6 month.

Comment #2 by Anonymous posted on
5.45% in the Seattle, WA area.