dcsimg The Get Rich Slowly Forums • View topic - Wamu 7% saving account

  GRS Home  Forum Home
Bank Rates Center
   Savings Account Rates
   Money Market Rates
   Highest CD Rates
Insurance Rates Center
  Auto           Health
   Life              Home
Mortgage Rates Center
  Mortgage Rates
  Mortgage Quotes

Last visit was:
A place for Get Rich Slowly readers to ask questions
and exchange ideas
It is currently Wed Nov 25, 2015 1:15 am

Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: Wamu 7% saving account
PostPosted: Wed Aug 15, 2007 5:04 pm 

Joined: Sun Jun 10, 2007 6:00 pm
Posts: 260
Location: Chicago, IL
Well its only currently availible in 4 states and its really more of a CD but heres the details.

The minimum deposit is $1 and the maximum deposit is $500. Then each month you can add between $25 to $500 a month by automatic transfers from your WaMu checking. The yield of 7.00% APY is guaranteed for 12 months. At the end of the 12 months, the money is moved into a WaMu sweeps account where you can start the Savings for Success account again (at a new rate) or transfer it out. During the 12 months, it's like a CD in that early withdrawal penalties apply. A WaMu checking account is required.

Available in Illinois, Texas, Georgia, and Washington.

Seems like a decent safe place to throw some money you won't need for a year. If I did my math correct and you max it out every month you would turn $6,000 into $6,232. Not the best in the world but a guaranteed 7% return is still pretty good.

Offline Profile   
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ]  Moderators: bpgui, JerichoHill

Who is online

Users browsing this forum: Google [Bot], Yahoo [Bot] and 45 guests

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Theme created StylerBB.net & kodeki