Wachovia CD Rates
Wachovia Bank is now one of the largest banks in the United States, so at Best CD Rates Info we were interested to see how Wachovia Bank CD Rates stack up to the competition. While Wachovia has many different types of certificates of deposit, for this article we chose to focus on the absolutely highest CD rate of return (without accounting for individual tax rates).
This search for the highest cd rate available leads us to the Wachovia Featured Certificate of Deposit. First and foremost, information about the high interest rate: in our region we found this Wachovia CD to have an interest rate of 4.64%, resulting in an Annual Percentage Yield of 4.75%. That is a pretty impressive rate for a fixed rate CD.
That rate is for a Wachovia Featured Certificate of Deposit for a term of 60 months, so you do have to tie up your funds for five years. There is also a minimum deposit of $5,000 to get this high interest CD — and an early withdrawal can result in a penalty of up to 180 days worth of interest, depending upon how soon the funds are withdrawn.
According to Wachovia, there are no fees associated with this certificate of deposit. Also, Wachovia states that funds in CDs are insured by the FDIC for up to $100,000. In order to sign up for the Wachovia Featured CD, you must also open a Wachovia checking account.
CD rates often vary by region, and sometimes change rapidly, so be sure to check the Wachovia web site to confirm availability in your area. Overall, this high interest rate Wachovia CD definitely sounds like an interesting investment option that is worth investigating further.
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