[Please note: This page is part of the Chicago CD Rates archive. Most of these deals on this page are not current and no longer available. Please check the date of the post before getting too excited and driving to a bank an hour away. If you have any doubts whether the deal is available, contact the bank or credit union. For a list of more current rates, visit our homepage.]

5% Coverdell ESA CDs at WaMu

WaMu (Washington Mutual) has some very good rates for Coverdell ESA CDs: Their 13-17 month Coverdell CDs are yielding 5.00% APY, as are their 48-120 month Coverdell CDs.  The minimum deposit is only $100, although there is a yearly maximum of $2000 of new money for all Coverdell accounts for a single beneficiary (a requirement of Coverdell accounts, not a WaMu requirement).  You could transfer over more than $2000 from another Coverdell account, however.

WaMu has many locations throughout the United States.

529 and Coverdell ESA CDs 1 Comment September 9th, 2008

529 Plan CDs up to 4.75% at Fifth Third Bank

Fifth Third Bank, through the Ohio Tuition Trust Authority’s College Advantage 529 Plan, is unusual in that they’re offering CDs as part of a 529 Plan.  For most people invested in 529s, CDs are probably not the best investment option — you’re potentially giving up gains for security — but for those who would rather have their money stay on the safer side, this might be a very good option.

Some of their current 529 CD rates are:

  • 24-to-35-month CDs: 4.00% APY
  • 36-to-47-month CDs: 4.75% APY
  • 48-month-and-up CDs: 4.50% APY

These 529 Plan CDs have a minimum deposit of $500.  The terms listed above have a early termination penality of the greater of 6 months of interest half the stated interest for remaining term.

If you’d like to invest in one of Fifth Third’s 529 CDs, you can call visit any Fifth Third Bank branch, call 800-233-6734, or visit CollegeAdvantage.com.

529 and Coverdell ESA CDs 2 Comments September 4th, 2008