WaMu Online Savings Account Now Yields 3.75%

Another confirmation that banks are starting to raise interest rates on Savings and certificate of deposit (CD) accounts, Washington Mutual Bank has just increased the rate it is paying on it's Online Savings Account to 3.75% APR from 3.30% APR. The minimum opening balance is $1.00 and the account must be opened and linked to a WaMu Free Checking Account or any other WaMu checking account.

The online savings account can be opened online, at a Washington Mutual Bank branch or by calling 1-800-788-7000. No direct deposit is required for the checking account and checks can be ordered online.

WaMu Online Savings Account Application