Wachovia Savings Account Rates
As you’re probably aware, Wachovia Bank was recently bought out by Wells Fargo, but continues to do business as Wachovia. We here at Interest Rates Reviews wanted to see how Wachovia savings rates have changed since that takeover.
Currently Wachovia savings account types include: Way2Save, a Premium Savings Account, and a High Performance Money Market account. We’ll look at each of these individually and what they offer.
Way2Save is a Wachovia savings account that has an automatic pay-in every time you use your debit card on a Wachovia checking account. These accounts have great Wachovia savings rates, with a whopping 5% annual percentage yield (APY) at the end of the first year and 2% for the next two years. This payout is capped at $300, however.
Another of Wachovia savings rates is in the Premium account. This is a more standard savings account with a minimum balance of $300 to avoid fees. Wachovia Bank interest rates on this Premium plan are tiered according to the account’s balance. Under $25,000 yields 0.05% APY, $25,000-$49,999 yields 0.10% APY and over $50,000 yields 0.15% APY. These accounts can also be linked to auto-desposits for further savings.
The Wachovia Bank money market account (called High Performance) is the best of the group for most savings plans. With a minimum balance of $2,500 to avoid fees, it may not be for everyone, however. The account yields 1.01% APY right now, which are good Wachovia money market rates right now.
While Wachovia bank interest rates are variable and, on Wachovia savings rates like these, they are not fixed, we think it’s worth considering if you’re looking for a Wachovia savings account.