bank rates

WaMu 5.00% APY 1-Year CD

A few weeks ago we had a huge discussion about WaMu’s secret in-branch rates.

Now, Washington Mutual has quietly rolled out a killer 5.00% APY interest rate on their 12-month and 13-month CD accounts.

Although I strongly believe that this rate hike is a sign of desperation (have you seen their stock lately?) from WaMu, this yield is so awesome that it’s not going to stop me from opening an account. Just be sure to stay within FDIC insurance limits!

Hats off to Bankaholic reader Raymond for tipping me off on this white hot rate.

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Comments (67)
1 Star2 Stars3 Stars4 Stars5 Stars (30 votes, average: 3.70 out of 5)
67 Existing Comments
  1. John said:
    on September 19th at 03:39 pm

    Anybody still getting a 5% CD for 13 months in southern CA….?

  2. Greg said:
    on September 22nd at 02:50 am

    (Partly in response to Joyce on 9/17) FDIC may insure you to 100K, but remember to adjust what you actually put in, considering the interest that will accrue. By adding siblings (etc) as beneficiaries (POD, ITF) you can increase your coverage. Just be sure to get those benef’s listed as soon as you open your account. The FDIC EDIE calculator is great for planning this or confirming what amount you are covered to. Stuff hard learned from being burned at IndyMac.

  3. James said:
    on September 23rd at 04:39 am

    It’s back !

  4. chris said:
    on September 26th at 01:59 am


  5. professor said:
    on September 26th at 06:56 am

    make sure you have your PODs on your account
    WM died today

  6. Saving Fool said:
    on September 27th at 09:22 pm

    What are POD’s?

  7. yin said:
    on September 28th at 04:30 am

    POD = payable on death. if you die, your money goes to your kids

  8. Allan said:
    on September 29th at 03:38 pm

    to the math professor – how can one be so educated (supposedly) yet unable to put simple sentences together using everyday grammer….

    500k in cd’s and you need overdraft protection? what kind of math professor are you if you cant keep a checkbook…

  9. Gail said:
    on September 29th at 04:43 pm

    If you have a Will designating the person or persons who should inherit your money upon death, do you still need to have a benificiary or POD on your C.D.? I am asking about accounts that do not go beyond the FDIC insured limit of $100,000.

  10. professor said:
    on September 29th at 10:26 pm

    The fdic REMOVED the need for qualified Benies last friday. YOU can put anyone down now! I also thought of this 1 year at 5, but I have been doing 5 years at 5.10-5.35 instead. We are in for a nasty few years.
    I also did a 10 year at 6 and another at 7.5.
    I hope my 2m won’t disappear.

  11. professor said:
    on September 29th at 10:31 pm

    I wanted the $100 in overdraft just for that lame best free checking account. I spend 6 weeks in Fla over christmas and my electric bill was being deducted directly from my checking account. So, I just wanted it in case the bill wasn’t forwarded to Boca while I was away. AND I’ve never had to use overdraft, but they offerred it to me at the branch so I went for it.
    And yet WM turned me down with 525k in cds.

  12. James said:
    on October 7th at 04:11 pm

    now it’s 3% CD

  13. jimmy said:
    on October 8th at 12:34 am

    5% rate for 12 months gone as of the today as James posted. If u signed up near the end be careful, rate is only good if account is funded in 7 calendar days (small print) otherwise u get the new 3% rate.

  14. Michael Jackson said:
    on October 9th at 01:43 pm

    I tried opening a online cd and have a lot of problems, made calls to customer service and was given misleading information, which is unacceptable to me.
    I never did fund the cd and I’m glad because I’ll never do business with them again.
    Too many other honest places out there.

  15. Ted Kazinski said:
    on October 9th at 07:12 pm

    Did anyone else receive this retard reply after having problems with their customer service:

    Thank you for letting me know about this issue. I regret any
    inconvenience it may have caused.

    Unfortunately, more information is required to research your inquiry.

    We’re sorry for the misunderstanding.

    Have a great day!


    Myrna Fitch
    WaMu Customer Service

  16. Dilip said:
    on October 17th at 05:35 pm

    WaMu Online CD information said 5% for 13 months. I opened up two accounts, but none of them went through and got processed. It is frustrating to see banks advertise and no one really followed up. I do not still have any money getting this percent offer. Bank needs to follow up on these complaints.

  17. June said:
    on December 4th at 05:06 pm

    I opened a WaMu Online CD on 9/4/2008 and confirmed their micro-deposit on 9/6/2008. But they had no response after that.
    Because this was my first time opened a CD account, I didn’t know it is abnormal until I receive an e-statement with $0.00 balance.
    I asked them three times about this problem. Finally, they funded my account just on the day the rate down to 3%(Oct. 7th). And I get the rate 3%.
    My second CD account is HSBC Online CD. I opened it on 10/22/2008. This time I knew I need to follow up. I asked them to transfer initial deposit for three times before my account was funded on 11/11. They debited two fund from my resource account.