Wachovia CD rates – May 2011 Update
If you are looking to earn good money by way of interest on funds that you are not likely to use in the near future, then CDs are the best form of investment for you. Almost every bank today offers CD as a way of mobilizing funds and thereby helping you to earn additional income. One such bank is Wachovia and they offer good rates and features for their CDs. One advantage of this bank is that they have a presence in almost every part of the US and after their merger with Wells Fargo, they have become even more widespread. This article will talk more about the rates and features of the CDs at Wachovia Bank.
The Wachovia Bank CD rates are 0.01% APY for three months and the minimum balance required to open these accounts can be $2,500, $10,000 or $100,000. The amount of balance in the account has no bearing on the interest rates at this point. The Wachovia CD rates are 0.10% APY for a period of six months and 0.15% for a period of one year respectively. The Wachovia certificate of deposit rates for a period of 11 months is 0.20% APY and for 33 months, it is 0.90% APY. Wachovia interest rates are 1.40% APY for a period of 43 months and 2.15% APY for a period of 58 months respectively. These rates are quite competitive in the current market conditions.
Other than the interest rates, customers should also understand the fees and charges that come with the account because it can reduce their earnings over a period of time. In this product, there is a withdrawal fee for withdrawals made before the end of the term period. This rate is one month’s interest for a term of three months and less, three months’ interest for a term of 3-12 months, 6 months’ fee for a term that is more than twelve months and the minimum fee is $25.