CD Rates Falling Quickly - Best Options for Locking in CD Rates

Provident CU has 16 and 60 month CDs at 5.01% APY at time of posting. For those of us who already have Super Reward checking accounts with them, it's a couple of forms to switch over. Yes, it's a .5% loss over what SRC is paying, but who knows how long that will last?

Emigrant Direct just dropped its CD rate from 4.55% to 3.50% APY.

Does anyone have ideas on when banks will start dropping their savings account rates, like they've been doing with CD rates? E*Trade's Complete Savings is still at 5.05%. Yet their CD rates are all below 4.45%. Obviously they don't want to lose customers, but it seems a drop is inevitable. How big do you think the drop will be?

superior savings locks in 14 days from date of postig. 5.25% 7month

#$%^ that TDAmeritrade is offer 5.30% CD for 3 months

WaMu's website says only 7 days to fund online CD for NJ customers.

WaMu still has the 5.1% APY 7 mo. with add-on.

Wachovia has 5-month CD at 5.01% APY. Online application is smooth and you have 10 days from date of application to fund (my app was dated 1/20 even tho I prepared & submitted it 1/22). Other strange part is if you want to fund by ACH or wire "a CSR will contact you to arrange" so you can't just pull money in from a linked external account.

I second the WaMu 7 days (CA). I won't be able to get the money that fast.

Therefore, I had to open an account with CapitalOne (and I hate them). Are you sure they'll give you 10 days?

I couldn't find that information on their website

Countrywide gives you 10 days from date of application to fund. In some states, they're still offering 5% for 3 or 6 months.

ING Direct (savings) down to 3.65% APY as of January 23, 2008
http://home.ingdirect.com/products/products.asp?s=OSAHP

Flagstar still has apy rates of 5% for 6 mo's, 4.91 for 12 mo,s , and 4.86 for 18, 24 , 30 , 36 , 48 ,and 60 mo"s . I beleive the min amount is only $500.

fyi, etrade's complete savings is down to 4.40% from 5.05%

I just called Patelco (1/23/080. They will only open a CD if you have funds deposited in the account or if you write a check to them at the time you open the account at their branch office.

From your call to Patelco, was that in regards to opening the CD by phone that they require funds already in your Patelco savings or checking?

Check your 3 month penalty comment on the Wamu 60 month CD.
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If the balance of a Liquid Certificate of Deposit is drawn below the minimum balance requirement or if the principal
from any other type of CD is withdrawn before the Maturity Date, the CD Early Withdrawal Penalty (EWP) will be
calculated at the rate then paid on the CD on the amount withdrawn, whether earned or not, based on the full (rather
than remaining) current term of the CD as follows: CDs with a term of less than 12 months – an EWP equal to 90 days
of simple interest; CDs with a term of 12 to less than 36 months – an EWP equal to 180 days of simple interest; CDs
with a term of 36 months or more – an EWP equal to 365 days of simple interest.

this is bogus. I opened a CD yesterday at CapitalOne. The interest rate did NOT lock in. Today it shows the current low rate...

About CapOne, I would check with the CSR to see if they can correct this. Let us know if they give you any problems.

procol, thanks for the WaMu correction. I guess the CSR may have just told me the short term CD penalties. I've updated the post with a link to the terms.

About Patelco, here's their reply to my email question about opening CDs:

You may log into your account and select "Open a New Account". This will allow you to select the specifics on your new certificate. Currently there is no limit on the amount that can be transfer via ACH transfer at the time the certificate is opened. If you opt to send a check we must have the check within 10 calendar days.