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5.20% 7-Month CD at WaMu in Some States


Washington Mutual is offering a special 5.20% APY 7-month special CD in some states. A reader mentioned in my last WaMu post that he opened one in New York. A free checking account was required. This doesn't seem to be listed at their website. I called WaMu, and I was told that this 5.20% APY 7-month CD is available in New York, New Jersey, Connecticut, California, Illinois and Florida. A yield of 5.15% APY is available in Texas. There's also a 4-month CD in Texas. Only the 4-month 5.15% APY is avilable in Georgia, Colorado and Utah. The CSR went through the states fast, so be sure to call to verify what's available in your state.

According to the CSR, the minimum deposit is $1,000, and it has an add-on feature that allows you to make additional deposits during the term up to the amount of the initial deposit. These specials are scheduled to last until December 27, 2007.

WaMu is still offering a 5.10% APY 6-month Online CD which is available to people in any state. Please refer to my Friday post for more info on these CDs and on WaMu's online high yield savings account and free checking account.

Thanks to the reader who mentioned this new CD special in the comments.

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Anonymous   |     |   Comment #1
Like most other banks offering good deals (Countrywide, IndyMac) WaMu is in trouble over subprime lending. http://abcnews.go.com/Business/wireStory?id=3980000
Banking Guy
Banking Guy (anonymous)   |     |   Comment #2
Thanks for noting that article. Everyone should definitely keep below the FDIC limits.
Anonymous   |     |   Comment #3
I went to a local branch today (California). They said they can only offer that deal if an existing CD with them is currently on its Grace Period.
Anonymous   |     |   Comment #4
FYI - read this post right after signing up for the 5.10% online CD, and called to try and switch to this deal. The fellow at WAMU's 800 number had never heard of this deal and had no information on it. It's not clear from the post, but what he indicated is that this might be a branch offer available in the listed states - this is not something that you can do on the website or, apparently, on the phone.
Dr J
Dr J (anonymous)   |     |   Comment #5
It's an in branch off rate-sheet special good through December 20th
H (anonymous)   |     |   Comment #6
I went to WAMU earlier to open a CD, but now the rate for the 7-month CD is ONLY 4.75% APY in California.

4.75% is the same as their online savings account. Thus, no point in opening a CD.