Washington Federal Savings Bank is offering some fairly respectable returns on their FDIC-insured savings products. If you visit their website, however, you will not be able to find any savings rates posted. They may want to reconsider this (in our opinion) given the competitiveness of some of their current rates.
For terms up to 18 months they offer rates which are pretty much on par with the national average, however their 24 – 36 month CD rates are substantially above it.
After reaching out to a representative I found that these rates are available in both Washington state and Idaho. If you do not live in one of these two state you may want to dig through our archive of best CD rates to find products in which you CAN take advantage of.
Washington Federal Savings Bank is based out of Seattle, Washington and was founded in 1917. Today they are the largest bank in the state of Washington and control roughly $8.9 billion in consumer deposits while servicing almost $8 billion in loans.
Washington Federal Savings Bank CD Rates:
(available in Washington and Idaho)
- 24 month CD yielding 2.50% APY for deposits between $1,000 and $89,999. This rate gets bumped up to 2.55% APY with deposits of $90k and larger. The national average for 24 month CDs currently hovers around 2.05% APY.
- 36 month CD yielding 2.75% APY for deposits between $1,000 and $89,999. This rate is bumped up to 2.80% APY with deposits greater than $90,000. The national average for 3 year CDs sits at roughly 2.20% APY.
- 48 month CD yielding 3.0% APY for deposits between $1,000 and $89,999. This rate is also bumped up 0.05% to 3.05% APY with deposits of more than $90,000. The national average for 4 year CDs currently sits at around 2.40% APY.
We would recommend locking in a long term deposit with a favorable interest rate as rates as a whole are likely going to continue their decline. The FED is aiming to keep key rates between 0.25 and 0.50 percent for the foreseeable future.