NEW 5.00% 12-Month CD from WaMu

Now through this Friday, August 29th, WaMu is offering a 13-month 5.00% APY CD available in the branches, online, or by phone. They are really pushing this hard and is a great rate. Penalty for early withdrawal is 90 days interest.

They are also offering a 12-month 5.00% CD online which might be better for you if you don’t want to lock in your money for 13 months. I’m not sure when this deal expires, though. This is only available online. Minimum is $1000 to open for both.

I’m thinking about opening one up myself. This may be a desperation move for the large bank to get some cash but I wouldn’t be worried unless you have more than $100,000 with them. The FDIC will cover everything under $100,000.