BofA CD Promo

[scfr]

BofA (not normally known for stellar rates) is offering a Promotional 7-month online CD @ 4.11% (min $5K)

Here in Texas, you can also get a 7-month CD at a BofA branch for 4.00% APY. This promo started today. My branch told me it will be going for 2 weeks, and that it has to be opened with "new" money.

While this is an offer in Texas, I would assume the same or similar promos are being offered in other states. When I expressed my surprise at the high rate to the branch manager, he told me "We are trying to get the customers who are leaving xxx (fill in the name of a financial institution that is known to be on shaky ground)."

[skydivingchic]

Thanks for the heads up. I believe I will take advantage of this offer with some of my personal savings money.

[brig2221]

Thanks a lot! I just transferred a good amount of money into their online CD offering using a bank transfer. Didn't even have to get out of my chair.

[simple987]

Wamu is now offering an 8 month online CD with 4.17% interest rate. I've heard that WAMU is the next bank to fail though.


Its really tempting but I just put all my available cash into another CD.

[m3racer]

Wamu is now offering an 8 month online CD with 4.17% interest rate. I've heard that WAMU is the next bank to fail though.

Where have your heard this? I have not read nor heard anything like this.

[scfr]

Thanks a lot! I just transferred a good amount of money into their online CD offering using a bank transfer. Didn't even have to get out of my chair.

Nice.

[hopefulfirefly]

Thank you! I also just opened up on online CD with this promo!

[simple987]

check the website: Online CD, Online CD Rate, Certificate of Deposit Rate from WaMu


I live in TX so that might have something to do with it?

[brig2221]

I am a little hesitant of re-upping my current 5% CD with WAMU due to the fact that nearly everyone thinks they will be the next bank to fall.

That said, if I do re-up with them, it will be for less than $100K, so not only will it be FDIC insured, but my money wouldn't be frozen. So, I think I might just take a risk and re-up at 4.25%, if they are still offering that come mid-August when my current CD matures.

I am in Texas also, McKinney to be exact.

[atomicrc11]

The whole bank failing thing is kind of a self fulfilling prophecy. If you and all your friends think they will fail and pull your money out, and enough other people do the same they will fail. If you're under the insurance cap of the FDIC, I wouldn't worry as they have the funds to cover you. This way you'll also hopefully keep them afloat!