WAMU

I was talking to one of the tellers at WAMU about the easiest most convenient way to earn interest on your money. I am interest of opening a Savings Accounts and I want to know the pros and cons. The teller told me that Liquid CD is a great way to invest your money with. Higher interest rates for your money. Minimum deposit is $5000. Certain withdrawals can be made but not below $5000. Liquid CD in California is a five month term.

The teller also mentioned to me about roll over IRA. When you are still employed from a specific company and you want to rollover your IRA, WAMU can assist you on that field. If you have more than one IRA account or you want your spouse in yours in one institution is definitely a good idea for record keeping in one trusted place.

Traditional CD is an account where you are given a fixed interest rate for a selected terms. Opening balance for this account is $1000. Traditional CD at WAMU has BUMP RATE feature - which means that if standard interest rates go up during your initial term, you can request—once during the initial term—that we adjust your rate to our then-current standard rate (posted in our Financial Centers and Web site) on your CD type, term, and balance for the remainder of that term.

Statement Savings account opening balance is $300. Once you withdraw below your opening balance, you will be penalized of $4. You need to be 19 years of age to be able to open an account. Interest rates are subject to Bank's Discretion.

You can open an Online savings account with WAMU and link that account to an existing active account and receive the Relationship Interest Rate which can go up to 3.25%. That is not bad. Compared to some other bank, WAMU offers higher interest rate.

Last account the teller told me was Online CD. The teller mentioned that the more month terms I sign up, the higher my interest rate for that specific account. You can get up to 3.25% for 60 months.