Interest Rates Reviews

Wachovia has merged with Wells Fargo to give their customers a better banking experience. They offer many kinds of products and services that are flexible to meet the needs of different kinds of customers. They have a customer base that is spread across the length and breadth of the United States and this necessitates that they have some flexible features. Other than the features, the Wachovia interest rates are competitive in the existing market conditions.

The current Wachovia Bank CD rates for a term of three months is 0.05% APY for all balances. The rate for a term of six months is also 0.05% while the Wachovia CD rates for a term of one year is 0.10%. These are the standard rates offered by this bank and they also have a specials CD scheme. Under this option, the current Wachovia certificate of deposit rates for a term of five months is 0.20% and it renews automatically for a three month term. The rates for a term of 41 months is 1.01% and this renews automatically for a term of 36 months. The last special rate is for a term of 58 months and the rates are 1.65%. This renews for a 48 month term on the completion of 58 months. The minimum opening deposit for the special offers is $5,000 while for the others, it is $2,500. When the special offers renew automatically, they will earn the rates of a standard CD only.

Above everything, these deposits are insured by FDIC and so you can be assured of the safety of your money.

Mortgage is the most serious and largest financial obligation one makes. A loan which is taken on the security of a house or a property, which is repaid over a period of time in installments, is called a mortgage. Wachovia is a part of the Wells Fargo group and it offers various mortgage options according to the eligibility of the customers. Let’s have a look at the mortgage rates for the primary residence of a single family.

Wachovia bank mortgage rates under Conforming and FHA Loans scheme for 30 years fixed period is offered to eligible customers and the interest rate is 4.33%APR. For 30 years fixed FHA, the Wachovia interest rates are 5.087% APR. For 15 year Fixed, Wachovia home loans rate are 3.943% APR while the 5 year ARM interest rate is 3.083% APR. For 5 years ARM FHA, the interest rate is 2.948%  APR.

For larger loan amounts in eligible areas under Conforming FHA scheme and for a 30 year fixed mortgage, Wachovia’s mortgage rates are 4.382% APR. For 30 year Fixed FHA, the interest rate is 5.032% APR while for a 5 year ARM, the interest rate is 3.167% APR.

There is a Jumbo Loan scheme where the loan amount exceeds the conforming loan limits. Under this scheme, the Wachovia mortgage rates for a 30 year fixed loan is 5.012% APR while for 5 years ARM, the interest rate is 3.388% APR.

For all the above interest rates under all the schemes, 1% of loan amount needs to be paid towards loan origination charges, but does not include other closing costs or discount points. Borrower paid insurance may apply for loans with less than 20% down payment.

Whether you are saving for a major purchase or just to safeguard your funds thereby earning some interest, Wachovia Money Market is the best choice. Wachovia Money Market rates are evaluated in such a way that the market volatility or risk is minimized compared to other investments. It also offers a higher rate of return when compared to other forms of investment and along with the liquidity aspect, it is a preferred option.

The Wachovia bank money market rates are highly competitive and it adds to your savings automatically without any effort through deposit transfer from your checking account. Other highlights are that you get free online banking and 24 hours access to your account.

Wachovia interest rates for a balance of $0 to $4,999.99 is 0.02% APY. For a balance slab of $5,000 to $9,999.99, interest rate is 0.05% APY. For a balance of $10,000 to $24,999.99, it is 0.10% APY, from $25,000 to $49,999.99, the interest rate is 0.20% APY. For balances from $50,000 to $99,999.99, the interest rate is 0.24% APY, for balances from $100,000 to $249,999.99, it is 0.30% APY and for balances from $250,000 and above, Wachovia savings rates are 0.40% APY.

A minimum balance of $2500 has to be maintained. A monthly service fee of $10 would be waived on maintenance of the minimum balance. $10 would be charged towards over draft protection transfer and $15 would be charged for every third party or pre-authorized transfers. An initial online deposit of $1000 is required and the maximum amount is $75000. No ATM withdrawal fee is charged even for non Wachovia or non Wells Fargo clients. These features coupled with the good rates make it an attractive form of investment.

Wachovia is a leading bank in the US today and its strength has been enhanced after its merger with Wells Fargo Bank. With this combination, the group is able to reach out to more and more customers and offer better services that cater to the needs of different kinds of people. Each of their product comes with good features and the Wachovia interest rates for each of the products is competitive.

Wachovia’s savings accounts come in three kinds, namely Goal Savings account, High Yield Savings account and money market savings account. The goal savings account is a great way to begin the process of saving money for a secure future. You can open this account with as low as $25. The minimum opening deposit is $100 or $25 when you choose to set-up an automatic recurring transfer from any other Wachovia or Wells Fargo account. The current Wachovia savings account rates on this account is 0.05% APY for all balances. It also comes with an optional overdraft facility.

The second option is the High Yield savings account that comes with better rates and features. The minimum deposit amount is $25,000 and the monthly maintenance fee is waived if this amount is maintained in the account. The Wachovia Bank savings account rates for a balance of up to $25,000 is 0.05% APY and for balances over $25,000, the Wachovia savings rates are 0.30% APY. This account is also eligible for a bonus rate of it is linked with PMA Primary Checking account. The bonus rates are 0.15% for a balance of less than $25,000 and 0.40% for a balance of over $40,000. The Wachovia high yield savings account is an attractive way to earn more interest on your balance.

Wachovia is a leading financial institution that offers one of the better banking experience to its customers. They offer many kinds of lending and savings products to their customers who are located across the length and breadth of the country. Wachovia interest rates on all the products are competitive and each and every product has convenient features that makes it easy for customers to reach their personal financial goals. To top it all, Wachovia online banking offers a good degree of flexibility.

Wachovia Bank online banking makes it possible for customers to view their real-time balances and up to 90 days of transactions in any savings account, checking account, loans, CDs and even credit cards. It is also possible to access all this information through mobile phone as well. Any customer can view or print up to 7 years of bank statements directly from his or her account. With Wachovia banking online, one can also transfer funds from one account to another without any hassles. It is simple and easy for customers to better manage their finances. This system makes it easy to reorder checks as and when required and also make stop payments on any cheque easily.

They offer a free Balance alerts service through which a customer can get account balances to their inbox or mobile or any other wireless device. They also have another service called Bill Pay through which customers can pay their bills periodically. They can either set it up as a recurring payment or just make a one-time payment directly from the account. These features make online banking a flexible and convenient option, especially for people on the move.