Washington Mutual (WaMu) Still Offering Savings Account at 4% APY and 1 Year CD at 5% APY after JP Morgan Chase Takeover - Bonds Article - high yield savings, wamu, high yield cd

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Washington Mutual (WaMu) Still Offering Savings Account at 4% APY and 1 Year CD at 5% APY after JP Morgan Chase Takeover

Article Submitted by: BankMan
Bonds

Tags: High yield savings, Wamu, High yield cd.

I just called WaMu and asked if they were still offering high rates after being sold to JP Morgan Chase. The news was good.

Submitted: Sep 26, 2008 Views: 973 Comments: 2 Likes: 1

I just called WaMu and asked if they were still offering high rates after being sold to JP Morgan. The woman on the phone told me the 1 year CD at 5% APY and the 4% APY savings account were still active. This is a great opportunity. You can technically get very competitive rates with the security of JP Morgan Chase.

I don't know how long these rates will last. Judging by what happened to Countrywide rates after the Bank of America takeover, I'd judge not that long. But for now, they are a great opportunity for yield and safety.

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Comments Received:

Jenn
(Unregistered)

It is a fantastic opportunity to lock in a CD. The savings rate won't last.

Posted: Sep 26, 2008

Bob
(Unregistered)

I just called WAMU Oct 21st 2008. They quoted .04% on CD purchase for 8 months, but said it will probably go down this coming week.

Posted: Oct 21, 2008

Author/Submitter Response:

I hope it was higher than .04%. You must have meant 4%. That's not a bad rate.

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