Wachovia Bank CDs

What do you get with a CD from Wachovia Bank? Firstly, with any CD you earn a guaranteed rate of return known as interest income. However, which each individual bank comes different requirements. Here’s Wachiova Bank CDs Rules and Requirements.

Wachovia Bank CDs Short Term Interest

CDs allow your money to grow. With a Wachiova CDs you earn interest from the date you opening the CD until your maturity date. Your maturity date is the same as the term of the CD. At Wachovia you interest on a CD is compounded daily and is add to you account monthly.

At the end of the CD’s term (Your Maturity Date) Wachovia will notify you. You will have 7 days to renew, change, withdraw funds at that time. If you miss the 7 day grace period, the CD will automatically renew.

Also this seem to be the little dirty secret of the bank world, you can withdraw the interest income each month. You can have the interest income deposited to another account. Interest income doesn’t have to remain with the principle until the term of the CD.

However, the principle of the CD is a different story. If you really need to withdraw your principle before the term of the CD (your maturity date) you will have penalties.

CDs are covered under the FDIC insurance.

Wachovia CDs Available as of 8/6/09 (with a minimum opening Deposit of $5,000)

• 13 Month CD at 1.40%
• 21 Month CD at 1.98%
• 32 Month CD at 2.75%

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• Why I Purchased Bank Certificates of Deposits – CDs