IndyMac Bank 5.50% 6-Month CD Rate

Dude, you gotta say how much the minimum deposit is. It’s a pretty important piece of info that you’re making me search and click a few more times to find.

Would like to deposit $28,000. IRA money. I pay & transfer monies from my Bank of America account. How, can I transfer that amount to your new 6 month 5.50% CD? I would like to do this without having to go into BofA> Possible? Thanks RNelson

These guys suck. I have two CD’s with them. Good luck getting your money back once the CD matures. You have to send them a letter requesting the funds and attach with the letter a seperate letter of acknowledgement from a notary public, signed and sealed. What a nightmare…..AmTrust Direct pulls the same crap. Funny thing is that they have no problem taking your investment electronically, but won’t let you redeem it the same way. They suck.

Paul,
Can you explain more about the advantages of T Bills?

To get the 5.50% APR rate for the 6 month CD, you must also have (or open) both a Savings and Checking account with IndyMac.

The minimum balance on the 5.50% CD is $1,000 (not $5,000)

If just a checking or savings account, CD rates drops to 5.45%

No checking or savings accounts, rate drops to 5.40%

(Read the fine print)

I represent a nationwide notary signing service. How do I get on the list with these banks as a preferred vendor to handle out of the area signings?

Paul complained that he couldn’t get his money without a notarized signature. That is ONLY for those who did not send in a signature card when they opened an account. This seems a sensible precaution since they won’t have your signature on file,
I checked with Indymac about what Paul wrote, because I was able to get my money without notarizing my signature. That is what they explained. In fact I got the money very easily, with faxing a letter with my signature. However, with another bank’s CD, I had forgotten to send in the signature card and had to get my signature notarized.

So, remember to send in the signature card when you get your CD and you won’t have Paul’s problem.

We have 6 month / $10,000 / 7%-8% fully backed by FDIC & 1yr / $1,000,000 / 10%-11% also 100% insured by FDIC

Bank of America

I had a CD with another bank that Bank of America took over.
When this CD matured, they refused to redeem my CD. I had to go to several branches before I could redeem my money. This took over 2 weeks before I received my money.

Bank of America is not customer oriented and their service is poor.

c cole- i had $200K CD that i pulled early from IM in Sep.
They and Countrywide are very exposed to the mortgage mess. I put my $ in 1 mo. T-bills.

I am having a fit trying to get my $$ from a CD that matured 3/23/08. I faxed a letter on 3/17 that I do not want to renew [according to Indymac's direction] and then they say they cannot “find” the signature card I sent in at the start of the 6/mo CD. They say get a notary stamp next to my signature on the letter - I do, I fax it today [I now only have 3 biz days before it auto-renews] and they say not acceptable because I have to have a “letter of acknowledgement” from the notary - I have already put in a complaint to the FDIC and will head back to WAMU and their notary here in Dallas TX tomorrow morning to now do this instruction - I suppose I have nothing better to do then try to accomplish the same goal 5x over. Bottom line, do not do biz with them, they will hold your money “hostage.” Every time I am on the phone for the same reason to close the CD, they try to talk me into renewing - I am thinking they “misplaced” the sig card, then give me incorrect directions to close so it auto-renews before I can get this all done - not proper behavior for a bank.