Washington Federal is offering a special short-term CD. It's a 7-month CD with a 1.00% APY. Minimum deposit is $1,000, and the maximum is $250,000. Thanks to DA reader Pearlbrown who first noted this special in the forum. I found this special mentioned at this Washington Federal deposit rates page on 3/5/2013.
In 2011 Washington Federal had offered top rates on its 5-year CDs. Most of its current standard CD rates are not too competitive.
A branch visit has been required to open accounts. For those who prefer opening a CD in a branch, this bank may be a good choice especially for those who live in cities like Las Vegas and Phoenix where rates are below national averages.
Washington Federal branches are located in several cities in the Western states of Arizona, Idaho, New Mexico, Nevada, Oregon, Texas, Utah and Washington. Some of the major cities include Phoenix, Tucson, Boise, Albuquerque, Las Vegas, Portland, Dallas, Salt Lake and Seattle.
Washington Federal is a sizable bank with $12.5 billion in assets. It has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 13.28% (above average) based on September 2012 data. Please refer to our financial overview of Washington Federal for more details. The bank has been a FDIC member since 1935 (FDIC Certificate # 28088).
How This CD Rate Compares
It's hard to find short-term CDs with rates of at least 1.00%. The highest 6-month CD rate that's nationally available is 1.00% APY at Connexus Credit Union. However, this requires an active checking account with direct deposit. Without a checking requirement, the highest rate is 0.89% APY at Doral Bank Direct. I still think the best short-term CD deal is Ally Bank's 11-month No Penalty CD. Its rates have fallen a bit. It currently has a 0.86% APY. Since there isn't an early withdrawal penalty, you can make this CD have any term from 7 days to 11 months. These rates are accurate as of 3/5/2013.
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.