Washington Mutual Raises Online Savings Rate to 3.75% APY - Bonds Article - savings rates, washington mutual, wamu

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Washington Mutual Raises Online Savings Rate to 3.75% APY

Article Submitted by: BankMan
Bonds

Tags: Savings rates, Washington mutual, Wamu.

WaMu now offers an online savings account with 4% APY.

Submitted: Jul 31, 2008 Views: 2651 Comments: 3 Likes: 3

On September 23, 2008, WaMu has raised their online savings rate to 4%, which is the best online savings offer with no minimum balance.

To get the 4% savings account you will need to first open a free checking account and then link the savings account to it. This can all be done together online.

Washington Mutual, however, is a very troubled institution and is considered by many to be unlikely to survive. Depositors are therefore reminded that especially in this case to keep deposits below FDIC limits.

To learn more about this offer, click here. Please note that WaMu has not adjusted all of the copy on its site and may still be listing the rate as 3.75% APY in some places.

For more information, see the BestCashCow.com savings and money market rate tables.

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Comments Received:

BankMan

To add, FDIC limits are $100,000K per person per bank. There are ways of getting additional insurance - Revocable Trusts, etc. but its best to check with the FDIC website or the BestCashCow article at:

http://bestcashcow.com/stocks_-_options_-_mutual_funds/article/sam_cass/trust-accounts-causing-some-confusion-with-indymac-and-fdic

Obviously, investing in a sound bank is the best insurance your money will be there.

Posted: Jul 31, 2008

checks for savings account
(Unregistered)

I have an account with Wamu and they just told me they have no checks with the savings account. Am I missing something?

Posted: Sep 17, 2008

BankMan

The check writing comes through the checking account which you must open as a companion to the savings account in order to get the higher rate.

Posted: Sep 23, 2008

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