Monday, 30 November 2020

Washington Federal Reviews: Checking, Savings, CD, Money Market, and IRA Accounts

Washington Federal Reviews: Checking, Savings, CD, Money Market, and IRA Accounts
18 Oct
6:03

Washington Federal’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

0.10%

Savings

Washington Federal Statement Savings

2.15%

CIT Bank Savings Builder

LEARN MORE Secured

on CIT Bank’s secure website

Member FDIC

0.60%

CD Rates

Washington Federal 12 – 17 Month CD

2.55%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

1.15%

CD Rates

Washington Federal 36 – 47 Month CD

2.65%

American Express National Bank 36 Month CD

on American Express National Bank’s secure website

Member FDIC

2.00%

CD Rates

Washington Federal 60 Month CD

3.00%

American Express National Bank 60 Month CD

on American Express National Bank’s secure website

Member FDIC

Washington Federal’s checking account options

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How Washington Federal’s checking accounts compare

Rates aside, the Green and Stellar Plus accounts offer some decent perks, including free checks, buyer protection and accidental death insurance. However, where these accounts fall short is the low APY. Other online banks also offer other features like ATM reimbursements and no fees. The Basic checking account isn’t anything special either.

It’s probably a better idea to go elsewhere for a checking account that offers a higher APY unless those value-added benefits are really speaking to you.

To see other options, check out our list of the 10 best online checking accounts.

Washington Federal’s savings account option

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How Washington Federal’s savings account compares

Sadly, Federal Washington’s savings account falls way short in comparison to the best offerings out there. Many of these other choices offer much higher APYs, ATM access and no fees. In short, you’re better off with one of the accounts on our list of the best online savings accounts.

Washington Federal’s CD rates

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How Washington Federal’s CD rates compare

Washington Federal’s special CD rates are on par with what’s being offered out there. Along with the similar rates, these also require a low minimum opening deposit that’s around the same, so if you’re looking for a short-term investment option, these CDs could be a good choice.

However, if you’re interested in longer terms, you’re not going to find great rates here. In that case, you’re better off finding something from our list of the current best CD rates.

Washington Federal’s money market account option

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How Washington Federal’s money market account compares

The Gold money market account rate is around the same as what the best offerings are out there. However, some of these accounts offer slightly better rates with lower opening minimum deposits. If that’s a big concern for you, then you’ll want to check out our list of the best money market rates.

Washington Federal IRA options

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How Washington Federal’s IRA CD rates compare

These IRA rates are slightly lower than what’s currently being offered out there. The main advantage is that you can open a Washington Federal IRA CD account with a lower opening deposit. If that’s important to you, then some of the rates for these IRA CDs can be a great choice. Otherwise, you can choose from our list of the best IRA CD rates.

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Sarah Li Cain

Sarah Li Cain |

Sarah Li Cain is a writer at MagnifyMoney. You can email Sarah Li here

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