Washington Mutual Online Banking

Washington Mutual savings accounts offer some of the best savings rates.  If you are interested in opening a high interest rate savings account, you definitely need to investigate Washington Mutual Savings.  This article will review the important features that you need to know about Wamu savings accounts.

WaMu has two types of savings accounts.  The first is the WaMu Statement Savings account.  This is a traditional savings account that you would find in most banks with physical locations.  The interest rates on this WaMu savings account is low, 0.25%.  With such a low interest rate, I don’t see why anyone would open this account.

The Washington Mutual Online Savings account, however, offers one of the best savings rates.  This Washington Mutual savings product offers a 3.30% APY.  This is a great high interest rates savings account.  However, in order to get the 3.30% Washington Mutual interest rate, you also need to open a WaMu checking account.  By opening a WaMu checking account you get the “relationship rates.”

The WaMu online savings account and Washington Mutual checking account can be opened with as little as $1 deposited into each Washington Mutual account.  This low minimum deposit requirement is a great feature of this savings account.  With only being required to deposit $1, anyone can open a WaMu savings account and start saving money immediately.  But don’t forget to also open a WaMu checking account.  If you don’t, your savings interest rate will only be 0.25% like the WaMu Statement Savings.

Another great feature about Washington Mutual savings is that you don’t have to do all of your banking online.  While the Washington Mutual online banking is great, sometimes you want to be able to go into a local branch to make deposits or talk with the bankers.  WaMu allows you to do this with its WaMu Online Savings.

I hope that you found this review of Washington Mutual savings helpful.  If you have any questions about the Washington Mutual Online Savings account or any other WaMu accounts, please leave them in the comments below.