Still Some 5% CDs at Countrywide Bank


Short term 5% CDs haven't gone away completely. Countrywide Bank is offering 5% APY for 6 and 3 month terms if you open the CD through its Call Center or one of its local Financial Centers. The internet rate is 4.90% APY for these terms. If you type in your zip code at its CD rate table, you can see if the 5% is available in your area. I've confirmed the 5% for zip codes in California, Texas, New York, Florida and Illinois. The minimum deposit is $10,000.

The worries of the financial condition of Countrywide may be a moot point if its acquisition by Bank of America goes through. However, as this MarketWatch article describes, the acquisition is not a sure thing, and recent issues could put the deal at risk. As with any bank, it's always a good idea to stay below the FDIC limits. Please refer to this post for what you can expect from the FDIC when a bank fails.

As I mentioned in a previous post, I believe Countrywide still gives you 30 days after the CD application to make additional deposits as long as you fund the CD with the $10K minimum within 10 days (see post). This can be useful if you have a CD that's nearing maturity. However, this seems to be ending. A reader had commented about a notice he received stipulating that effective Feb 19, 2008, you'll only be able to make additional deposits during the grace period.
Anonymous   |     |   Comment #1
I used Dallas link but gave my Houston address but it still registered me for $50 bonus.
rajesh (anonymous)   |     |   Comment #2
rates have been lowered
5.10% 6 and 3-Month CDs at Countrywide in Some States
Even though Countrywide Bank lowered all of its internet CD rates to under 5%, it still has local CD yields up to 5.10% APY for 3 and 6 month terms. I've verified the 5.10% APY for California and Illinois. A yield of 5% APY is offered in New York, Florida and Texas. A yield of 4.75% APY (the same yield as available online) is listed for Indiana, Michigan, Kentucky, Colorado and Arizona. You can check what's available in your area by typing in your zip code in Countrywide's CD rate...
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Update on Countrywide's CDs - 5.50% for 3 and 5 Month Terms
Countrywide Bank is offering a 3-month CD with a yield of 5.50% APY in some states. This is only available at Countrywide's financial centers and call centers. The yield available on the internet is 5.45% APY. To see if your state has this 5.50%, type in your zip code in the Countrywide CD page. I've verified this for Massachusetts, Texas and California.

I also called again their toll-free number (1-800-283-8875), and I was told that their secret 5.50% APY 5-month CD special is still available, at least for my Texas zip...

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5.50% 5-Month CD at Countrywide Bank Continues
Countrywide Bank is still offering a "secret" 5.50% APY 5-month CD special that I first reported on November 28th. It's not listed at their website. They've been advertising it on TV in certain markets. I just called their toll-free number (1-800-283-8875) and verified that it's still available at least for Texas (it may vary by state). However, I was told it may end any day. The minimum deposit is $10,000. The application must be done by phone.

Other Countrywide Bank CD Rates

Last week, Countrywide was offering 6-month CD yields as high...

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5.50% 5-Month CD at Countrywide Bank
Countrywide Bank has a 5.50% APY 5-month CD special that's not listed at their website. A reader mentioned seeing this advertised on TV yesterday. According to the reader, he called and was able to open the CD and have it funded using money from his Countrywide Savingslink account. I just called their toll-free number (1-800-283-8875), and I was told that this special CD is still available. However, I had to give them my Texas zip code. The CSR said the rate may vary by state. Also, I was told that...
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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...
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