4.00% 5-Month CD at a WA/ID/UT Bank (AmericanWest)

AmericanWest Bank is offering a special 4.00% APY 5-month CD. The minimum deposit is $1,000. It's available for consumer, business and IRA funds.

There's also a special 36-month bump-rate CD with a yield of 4.15% APY. The bump feature gives you one bump opportunity to increase your rate every twelve months throughout the term of your CD. The 36-month yield is a little low to be a good deal. Since it's easy for the bank to keep future 36-month CD yields low, these bump features are often not worth sacrificing a higher initial rate.

According to the banking rep, to open an account you have to live near their market area which is in Washington State, Idaho and Utah. The bank has been FDIC insured since 1977 (FDIC Certificate # 22441). It has a 2-star rating (problematic) at BauerFinancial based on 3/31/08 data.

Tags: Washington, AmericanWest Bank, Utah, Idaho, CD rates, IRA rates