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5.15% 7-Month CD at Indymac Bank


Update 1/30/08: The 7-month CD yield has dropped to 4.80% APY.
Update 1/22/08: The 7-month CD yield has dropped to 5.00% APY.

Indymac Bank slashed the rate on its 4-month internet CD special from 5.25% to 4.10% APY. However, it raised the yield on its 7-month internet CD to 5.15% APY. All the other CD terms have yields far below 5%.

This shows the importance of not letting your CDs renew automatically, especially in these times of falling rates.

For more info on Indymac Bank and its CDs, please refer to this previous Indymac CD post.

Moody's Investors Service just did another downgrade of Indymac Bancorp's credit rating and the financial strength of Indymac's bank (see article). So as always, make sure to keep below the FDIC limits. Indymac Bank is a member FDIC (Certificate # 29730).

Thanks to Scott who mentioned these rate updates in the finding-the-best-rates post.

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Anonymous   |     |   Comment #1
Good luck trying to open an online account. I tried over two weeks ago and still have not received any paperwork.
Anonymous   |     |   Comment #2
Indy just dropped this to 5.00%
Anonymous   |     |   Comment #3
Down to 4.8% as of 1/29/08.
Zoomer (anonymous)   |     |   Comment #4
Dropped to 4.80% APY!