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5.45% 10-Month Add-On CD at WaMu in Several States


Washington Mutual is offering a 5.45% APY 10-month certificate of deposit. The minimum deposit is $1,000. It has an add-on feature that allows you to make additional deposits up to the amount of the initial deposit. The additional deposits must be at least $100. New money is required, and it requires that you have a WaMu checking account. This special is not listed at the bank's website. It's being advertised in several newspapers. The ad is available online.

According to the ad, it's available in New Jersey, New York, Connecticut and California. However, I called WaMu today, and I was told it's also available in Oregon and Washington State. The banking rep also said this promotion is scheduled to end on August 2nd. It's not available online. You have to open at a WaMu financial center or by calling 1-866-808-1396.

If you think this is too much of a hassle, WaMu also has a pretty good deal on its online CDs. They're offering 5.35% APY on all terms from 6 to 60 months.

If you need to open a WaMu checking account, make sure you get their Free Checking (see post), and if you're going to open this Free Checking, you may want to consider also opening their 5% Savings Account (see post). If you sign up for both online, you get the 5% APY on the savings account and the monthly fee waiver. This is stated in the WaMu checking application page.

Washington Mutual is FDIC insured (FDIC Certificate # 32633).

Thanks to the reader who mentioned this certificate special in the comments of the finding deals post.

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Sree (anonymous)   |     |   Comment #1
WaMu is always good to keep the money and move it around..
its best deals are
1) Free checking Account
2) Statement Savings account
3) and.. occational CDs

But their customer support SUX a big time..

Thanks Banking guy, a very nice CD post
Anonymous   |     |   Comment #2
Please noted that the interest is not compounded for this CD.
Anonymous   |     |   Comment #3
Correction on the above comment. Even reps from 2 different branches told me that the interest is not compounded, but the CSR from the toll-free no. said the interest will be compounded daily and credited monthly. (5.32%/5.45%)