Countrywide Bank has recently raised their long term CD rates by several basis points. All CDs over 18 months have been increased. 18 month CDs now yield 4.10% APY, while 3-5 year CDs yield 4.50% APY, some of the highest rates available. Countrywide CD’s all have a $10,000 minimum balance and are FDIC insured up to $100,000.

• 91 days of interest early withdrawal penalty for terms under 12 months
• 180 days of interest early withdrawal penalty for terms of 12 to 60 months
• Grace period at maturity when you can close without penalty is 10 calendar days
• No hard credit inquiries for opening CDs or savings accounts
• CD funding options: mail a check, wire transfer, or drop off check at a CW financial center

Countrywide has had its share of subprime mortgage problems recently, and it’s slated to be bought out by Bank of America. However, with continually deteriorating credit conditions, it would be wise to keep your deposits less than the FDIC insured amount.