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Some More Decent CD Rates That Are Still Available


CD and savings account rates are dropping like a rock. With another Fed rate cut likely on the 31st, locking money into a CD will likely be better than keeping it in a savings account. I listed a few CDs with decent rates that are still available in yesterday's post. Some also have generous lock periods (the period after you apply in which the bank has to receive the funds to lock in the rate). Thanks to everyone who commented about other CD suggestions. I've pulled together the suggestions, checked that they're still available as of this morning, and put them in the list below. If you have any other CD deals or have other information on these CDs, please leave a comment.

  • WaMu's 5.10% APY 7-Month Add-On CD is still available in some states (see my review). May have 7 days after applying before they have to receive the funds to lock in rate.
  • Wachovia's 5.01% APY 5-Month CD is still listed in some states. When I reviewed this two weeks ago, it was 5.05% APY. A reader had the following comment about this Wachovia CD: "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."
  • TD Ameritrade is still listing a 5.30% APY 3-month CD. According to TD's webpage, it has to be funded by 2/1/08. I first reviewed this in this December post.
  • Superior Savings is still listing a 5.25% APY 7-month CD. A reader commented that it locks in 14 days from date of posting. I first reported on this CD in this November post.
  • Countrywide Bank still has 3-month and 6-month CDs with yields as high as 5.10% APY in some states. A reader commented that you have 10 days from date of application to fund. I reported on these CDS last Sunday.
  • Provident Credit Union is still listing a 5.01% APY 16 and 60-month CD. They also have a 5.51% reward checking account. I reviewed the 16-month CD (when it was 5.30%) in this November post.
  • Flagstar Bank is still listing a 5.00% APY 6-month CD, a 4.91% APY 12-month CD, and 4.86% APY for longer terms.
  • Corus Bank is listing a 4.85% APY 6-month CD. A reader commented that Corus provides a 14-day funding period from the date in which the online application is submitted.
  • Hyde Park Savings Bank is still listing a 5.00% APY 9-month CD that can be opened online and funded with an ACH transfer. MA residents only. See my review.

Since rates are changing fast, be sure to check with the bank for the latest rates. And please verify the funding requirements directly from the bank.

Updated 1/23/08 afternoon: Added CD rate and info on Corus Bank and Hyde Park Savings based on readers' comments. Thanks!

Related Pages: Flagstar Bank, Detroit, Flint, Lansing, Grand Rapids, South Bend, CD rates, Provident Credit Union (CA), San Francisco Bay, Sacramento

Related Posts

bill   |     |   Comment #1
Ing Direct dropped to 3.65
E*TRADE Savings 4.40
unimax   |     |   Comment #2
wamu is 4.85 for 6m now.
Goldie   |     |   Comment #3
For Massachusetts only
Hyde Park Savings Bank
5%cd still available 1k min.
Anonymous   |     |   Comment #4
Everything is dropping. ING Direct's Electric Orange Checking just dropped a lot. Yesterday, if you had $100,000 you got 4.8% APY. Today it is 4.25% APY. If your balance is under $50K, you only get 2.5% APY. It will go even lower, as the Fed will lower the rate even more on January 31st.
Anonymous   |     |   Comment #5
Corus Bank in Chicago provides a 14-day funding period from the date in which the online application is submitted.
Anonymous   |     |   Comment #6
WaMu 5.10% 7 month add-on CD will remain available in branches at least through tomorrow in states where it is offered.
Anonymous   |     |   Comment #7
Superior Savings has also unadvertized special of 5.25% APY for 13 months. This may be best after alliant CU. Min. $500 to open, no membership crap (that did not work on line to me from Alliant)
Anonymous   |     |   Comment #8
Pentagon Federal Credit Union is still showing some good CD rates ($1000 min.) as of Thurs morning: 4.75% for 3 or 4 years, 5% for 5 years and 5.25% for 7 years. The way rates are going, I took the 7 years at 5.25%. Anyone can join by joining the National Military Families Assn. for a small fee. Easy to join and open online, and fund via ACH transfer from any external account. --John from Los Angeles
Ade   |     |   Comment #9
I'm not thinking very straight these days, would a kind soul give me an opinion whether it's worth the trouble of doing the following please?:

I have left only about $600 in IRAs that's split in 2 institutions at 4.5%, and want to transfer them to Superior Savings Bank at 5.25% for 13 months, as "trustee to trustee" which takes longer too, but I called the bank with my data to sort of assure the same rate.

Is it really worth it for just around half percent??? Thanks so much for any opinion. Adela
Anonymous   |     |   Comment #10
to ade: 1/2% on $600 is $3 per year. One Latte probably. Not worth it for me. Also note that your current IRA custodiam may charge you a fee for transfer out.
Anonymous   |     |   Comment #11
Provident CU lowered their CD special to 4.65% today (Friday Jan 25 2008)
Anonymous   |     |   Comment #12
For the TD Ameritrade CD promo, might be better off with the $100 bonus if you have $25k-$50k to invest.
Anonymous   |     |   Comment #13
Just received a mail postcard from Wachovia offering a 4.50% APY Money Market Account. Must open account by Feb 28 2008. Says to call 800-987-2941 or visit financial center to open account.

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