Also known as time deposit accounts, CDs offer competitive fixed interest rates that are higher than typical savings accounts.
You determine up front how long you want to leave the money in a CD, with terms from days to years. During the maturation time, you’ll enjoy predictable earnings with a stable principal. CDs are FDIC-insured* and are often part of a diversified portfolio.
Fixed-Rate CD
With a fixed-rate CD, you get a guaranteed interest rate for the term you select.
Invest in an automatically renewable CD with a maturity period from seven to 90 days; minimum deposit is $2,500
Invest in an automatically renewable CD with a maturity period from 91 days to 60 months; minimum deposit is $1,000
Earn higher rates on deposits of $10,000 or more
Benefit from the safety and security of FDIC insurance
12-Month Convertible CD
A 12-month convertible CD gives you the flexibility to take advantage of rising interest rates.
Start with a fixed-rate CD and after 90 days, if interest rates rise, you can convert to a CD with a term of 12 months or longer with no penalty
Increase your CD with additional deposit at time of conversion
Minimum opening balance of $1,000
24-Month Step Rate CD
For a rate that is guaranteed to rise every six months, you can invest in a 24-month step rate CD.
A fixed-rate CD with an automatic rate bump predetermined at account opening occurring every six months, regardless of what is going on in the market
Minimum opening balance of $1,000
36-Month Callable CD
A 36-month callable CD provides a premium interest rate for up to three years.
Earn premium interest
Wachovia reserves the right to call your CD after the first year (if your CD is called, you will have several reinvestment options)