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6 Percent Certificate of Deposit Updates


I've confirmed at my local Washington Mutual branch that you can also get a 6.00% APY 18-month certificate in addition to the 13-month. The 18-month CD doesn't require new money. As I mentioned in my previous post, WaMu is not offering 6% for these CDs in all states.

A reader informed me today that the Bank of Goochland in Virginia is still offering a 6.00% APY 24-month CD. I first reported on this special on July 19th. They do take out-of-state deposits. I was told that you can wire the funds and fax a letter of direction to facilitate account opening. The bank will then mail a signature card for you to get notarized.

Another reader mentioned that the Peoples First Community Bank in Florida has extended their 6% APY 15-month or 30-month CD special from August 11th to August 18th. To open an account at this bank, you must be present at a bank branch.

World Savings' 6.01% APY 9-month CDs are still available until August 26th. This is an in-branch special (see post). For those who don't live near a branch, you can open a 5.91% APY 13-month CD online at World Savings' website.
Anonymous   |     |   Comment #1
Just made a CD deposit at World Savings, 6.01% 9mo. Thanks to your Blog I now have 4 unadvertised special CD's and no problems getting the bank accept the rate.
procol   |     |   Comment #2
I'm having trouble geetting IRA money into these deals, the banks say no.

Wamu told me they won't accept an IRA rollover into the 6% CD.

I can't understand why they would turn away the deposit.
Anonymous   |     |   Comment #3
I'm having trouble geetting IRA money into these deals, the banks say no

looks like digital credit union will do an IRA with the special rate
Anonymous   |     |   Comment #4
BTW, I believe Addison Avenue's HIGHEST CD interest rate is for their SHORTEST length CD term. Last I checked, 5.30% for 3-month CD. I thought the longer the term, the higher the rate?

Here is the link:

Banking Guy
Banking Guy   |     |   Comment #5
5.30% is pretty good for a 3-mo CD. Many credit unions and banks are coming out with higher rates for the shorter term CDs than the longer term CDs (inverted yield curve). There's strong expectations for a slowing in the economy and lower interest rates next year. The only reason to take a lower rate on a longer term CD is to lock in the rate in expectations that rates will fall.

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