Dedicated to Deposits: Deals, Data, and Discussion

Countrywide Bank's High Yield 6-Month CDs


Countrywide Bank continues to offer a very competitive 6-month CD rate, but unfortunately, the rates have been declining just like the rates at most other banks. The rates do vary by state and sometimes by branch. A reader informed me that a new Countrywide Financial Center in Bellevue, Washington (10800 Ne 8th St, Bellevue - 425-453-7300) is offering a yield of 5.55% APY. The best that's listed at Countrywide's website is 5.45% APY for the rest of Washington State and also for California and Colorado. Lower yields are available in other states but most seem to be at least 5 basis points higher than what's available from the internet.

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 info on the Bellevue CD rate.

  Tags: Washington, CD rates, IRA rates

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Comment #1 by Anonymous posted on
Who cares about them. this is a bad company- bad for the planet. Avoid disease!

Comment #2 by Anonymous posted on
People who want good rates care. All banks (and really, all large corporations) are evil people-crushing, world-destroying machines. But you gotta keep you money somewhere.

Comment #3 by Ade (anonymous) posted on
LOL! I agree with the 2nd anonymous. I hope that the 1st anonymous (same person???) is incorrect since I have an IRA account with them (NYC) at 5.67%. So far I foun them very satisfying. For those in NYC: I just called and they are offering a 5.35% 6-month CD but $10,000 min. deposit.

Actually a bank I strongly recommend to stay away from even with good rates is SOVEREIGN BANK in NYC (don't know if it branches out to other cities. From Oct. 4 that Penfeld sent them the transfer papers, only after my dozens of calls and TWO MONTHS later they tell me the check went out to Penfed yesterday!!! Won't know it until I get the confirmation paper from Penfed! I understnd their early w/l charge...but they also charged me for the transfer BY CHECK, sad can't wire!!! I shall never go near them ever! Adela

Comment #4 by Anonymous posted on
Read this linked article. Your money is safe, but they are really a troubling company. It's not hard to make money when you do things like they do in this article. Just be glad you're a creditor, and not a debtor.

Comment #5 by Anonymous posted on
oops it didn't post. have to use two pieces.

Comment #6 by Anonymous posted on
I saw on TV yesterday that they are offering a 5 month CD at 5.5% APY. I called today and was able to open a one up today, transferring from my Savingslink account. This is supposedly only available in their banking centers and over the phone, not online.

Comment #7 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the info on that 5-month CD special. I just did a post on it here.