Bank of America has very low CD rates. They also are dependent on what area of the country you live in. Bank of America also just completed the acquisition of Countrywide Bank. It will be interesting to see how that plays out. However, at the moment the banks will be operating separately.
The current CD rates for BofA are a 7-month CD at 3.10% APY.
Bank of America is $1.35 Trillion dollars in size. That is ginormous. They made more money, about $1.2 Billion, than most banks have in assets. That is just scary.
The FDIC# is 3510.
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IndyMac Bank has taken a turn for the worse, but they are confident they will whether this storm as they have weathered others. Of course, they have to be confident or all of the stockholders would sell their shares. They already had a small run on the bank. Here is a link to the most recent press release, as well as, one from about a week ago.
July 7, 2008 Press Release
June 30, 2008 Press Release
One thing to note, is for the moment they are unable to accept brokered deposits. This may mean some nice internet only rate specials. Keep a watch out. (some are noted below)
They are currently offerning a special on-line only money market account for 4% APY.
They also have high interest CD Rates.
| 3-Month CD
| 3.70% |
| 9-Month CD
| 4.00% |
| 10-Month CD
| 4.00% |
| 2-Year CD
| 4.65% |
As noted, they are having financial problems. Be sure to stay under the FDIC insurance limits. They are a very large bank and I’m sure the FDIC is doing everything they can to ensure they don’t fail. But, be wise. IndyMac’s FDIC# is 29730 and you can view their current CD rate here.
Wachovia Bank has great certificate of deposit rates. They are federally insured by the FDIC.
Rates are as follows:
| 7-Month CD
| 4.00% |
| 1-Year CD
| 4.25% |
Different rates and terms may be available in different parts of the US. Some areas have had a 5% APY for a 3-year CD. Wachovia Bank’s FDIC# is 33869. They were established in 1994 and as of March-2008 they have about $665BB in assets. They are one of largest banks in the United States and are based in Charlotte, North Carolina (NC) . As of March 2008, they have an operating loss of 369MM.
Here is a link to their site, www.wachovia.com