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5.10% 7-Month CD at WaMu in Some States


Washington Mutual is offering a special 5.10% APY 7-month Add-On CD in some states. A WaMu checking account and new money are required. The minimum deposit is $1,000. The add-on feature allows you to make additional deposits up to the amount of the intial balance during the term. This doesn't seem to be listed at WaMu.com. It has been advertised in several papers. Here's an online ad from the Dallas Morning News.

Update 1/25/08: Readers have reported being told that this 5.10% special will be available through Monday (1/28/08). Monday is likely to be the last day.

According to the ad, you can open at a WaMu financial center or by calling 1-866-808-1396. In addition to personal accounts, it's also available for all business ownership types. The offer is valid AZ, CO, CT, FL, GA, ID, NJ, NV, NY, TX and UT. For those outside of those states, you still can get an online CD with 5.10% APY and a 6-month term.

The checking requirement isn't that bad since you should be able to choose their free checking which has no monthly fees and provides free checks and wire transfers. Plus, once you have the checking, you're qualified for their online savings account which currently has a yield of 4.75% APY with no minimum balance requirements.

For those in Texas and Georgia, you may also want to add their Savings for Success account. It's also available in Illinois and Washington State, but these states don't have the CD deal.

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

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ShraZZy (anonymous)   |     |   Comment #1
4.85% 6M online now
Anonymous   |     |   Comment #2
I got the add-on CD last week in CA. Was advertised on sfgate last week and this week.
Anonymous   |     |   Comment #3
opened a CD this morning. Please note that the add on feature is only equal to the amount of the initial deposit. If you open with 10k, you can only add up to another 10k. This CD must be new money to WAMU.
Jope this helps.
Anonymous   |     |   Comment #4
I called this morning and I was told that the rate will prob drop tomororw or Monday.
Anonymous   |     |   Comment #5
I opened a CD via phone tonight. I was told I had 30 days for WAMU to receive my check. The 5.10% rate is still available in Texas. I opened a $16,000 CD and agreed to send them $16,001 - $1 to fund free checking account.
Dave (anonymous)   |     |   Comment #6
How did you open by phone? If you go to the branch and open one.. can you send them the money later as well?