Washington Mutual has just rolled out a promotional CD rate. It is available online and in branch (if you have WaMu in your state). The minimum investment is $1,000 and early withdrawal penalty is 90 days of interest. There are 12 and 13 month terms available
This is an incredibly good rate from a decently sized bank. You can fund the CD with an ACH transfer within 7 calendar days of opening an account. If you already have an account with them like me then this should be just a matter of an internal funds transfer.
WaMu has not been exactly doing great financially over the past year and this promotion could be a sign that they are running into liquidity problems. That said, the account is FDIC insured and you will be fine as long as you are under the total FDIC coverage limit.
