High CD Rates

Today at High CD Rates, we’re going to look at the current Wachovia Bank CD rates and show you what’s available now.  Wachovia, of course, is now owned by Wells Fargo, but many of their banking services are still separate, including many certificate of deposit offers.

Wachovia offers several CD options and terms, all of which can be “rolled over” to auto-renew at current rates when they expire, so they continue to build.  They have two classes of CD rates at Wachovia: Featured CD and Fixed Rate CD.

A Featured CD is one in which the customer already has a relationship with Wachovia (checking, savings, etc.) and has a $5,000 minimum deposit to open and maintain the account.  These Wachovia CD rates are available in 3 terms.

On a 37-month term, the yield is 1.01% annual percentage yield (APY), on 45 months it’s 1.25% APY, and on 58 months it’s 1.76% APY.  Again, these require a Wachovia checking account and a $5,000 minimum.

Standard Fixed Rate CDs range from 3 months to 24 months with a $1,000 minimum deposit requirement to avoid fees.

The Wachovia Bank CD rate for 3 months is 0.01% APY, for 6 months it’s 0.10% APY, for 9 months it’s also 0.10% APY, and for 12 or 18 months it’s 0.15% APY.  At 24 months, it rises to 0.40% APY.  None of these rates are nationally competitive.

Wachovia, under Wells Fargo, is still fully FDIC insured.  Certificate of deposit accounts are covered up to $250,000 until January 1, 2013 when it reverts back to $100,000.