World Savings just started a new internet CD special. The new offer is a 6.01% APY 15-month certificate of deposit. Unlike the previous 6.01% CD special that required you to visit a branch, this one is available on the web to anyone in the nation. For those who couldn't take advantage of the the previous CD special, this new one might be for you. It is a longer term, but with rates starting to fall, this may be an advantage. Below are the details of the CD from the webpage and from speaking with a World CSR.
This new special seems to replace the 5.91% 13-month CD special. However, the 5.51% 5-month internet special is still available. For those who prefer to open the CD at a World Savings branch, they have some decent branch CD specials of 8 to 10 months and rates that range from 5.56% to 5.76% APY depending on the state.
There's no official end date for this CD special, but the CSR thought it would last for more than a month. For those with current World CDs about to mature, you'll have to withdraw the money into an outside account to fund this new CD since it requires new money. If you have at least $25K in accounts at World, you qualify for a free Ambassador Checking Account with no monthly fee. Link this checking account with a high-yield money market account such as GMAC Money Market Savings Account. When the CD matures, request that the money be transfered into this checking account. Then you can electronically transfer this money into your GMAC account. It'll take a few days for this money to be available. Once it's available, you can write a check and fund this special World CD. During the time it's in the money market account, it'll be earning a decent rate.
- 6.01% APY (5.84% interest rate)
- 15-month term
- $10K minimum deposit
- $100K maximum deposit per household
- Must be funded by check. World doesn't offer ACH for initial funding.
- Requires money new to World Savings
- Starts today. End date not known
- Internet only. Not offered at branches
- After the maturity date, there's a 6-calendar-day grace period.
- Early withdrawal penalty equals 6 months of interest
- No hard credit pull
This new special seems to replace the 5.91% 13-month CD special. However, the 5.51% 5-month internet special is still available. For those who prefer to open the CD at a World Savings branch, they have some decent branch CD specials of 8 to 10 months and rates that range from 5.56% to 5.76% APY depending on the state.
There's no official end date for this CD special, but the CSR thought it would last for more than a month. For those with current World CDs about to mature, you'll have to withdraw the money into an outside account to fund this new CD since it requires new money. If you have at least $25K in accounts at World, you qualify for a free Ambassador Checking Account with no monthly fee. Link this checking account with a high-yield money market account such as GMAC Money Market Savings Account. When the CD matures, request that the money be transfered into this checking account. Then you can electronically transfer this money into your GMAC account. It'll take a few days for this money to be available. Once it's available, you can write a check and fund this special World CD. During the time it's in the money market account, it'll be earning a decent rate.
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