(Now DEAD !!) Worldsavings 7 months cd 4.16% APY

Just got a letter in mail inviting to open a 7 months CD at 4.16% APY.

This offer is now available online too ...

link

Don't see anything on the website.

This deal has been going on for a while but not advertised. Simply go to a local B&M branch and ask a rep to open an account (7-month CD special). I just confirmed this deal locally (4.08% with 4.15 APY, min $10000 and max $100k). I was told the deal would expire sometime in mid-July. Good deal since Corus Bank offers 12-month CD at 4.05 yielding 4.11.

I was able to go in and open the 7 months cd at 4.16 APY by just mentioning the special rate

Don't like $238 in 7 months? Use the $10k to buy 10 lawn mowers, hire 12 illegal workers, and start mowing. You hire 12 to give yourself a cushion in case 2 get deported. Rotate your crew daily so you wouldn't have to pay 2 guys to stand around. You can make 50% return investment in 7 months easily.

Sound too risky? That's why they have CDs paying 4.16% for risk averse people.

I know its completly different question but Who files for W-8BEN ? Why ING will close the account ? What happens to ED ?

No WorldSavings Bank in Massachusetts Nearest is NY and NJ.

But if moniker's reply is correct, may be we can open an account on phone , definately online works too !!

dunno whether the "Special Rate" would hold or not ..

When I was a non resident alien, I just checked resident alien on all bank/investment related things. What they care about is whether you file 1040 or 1040NR with IRS. If you file 1040 then your are a resident for tax purposes and that is all they care about ( I was told this when I opened my first account in US)


ussrfw said: Whether no resident alien individual can take this offer?
Some bank, like ING, do not service for no resident alien individual.
When you send W-8BEN form to them, they will close your account.

manish22 said: Just got a letter in mail inviting to open a 7 months CD at 4.16% APY.

I can fax it to you on monday if you PM me fax number. I've already faxed it to a few other fw members.


mariamania said: is there anyway for you to scan the letter? my bank requires the actual letter to give me the rate. btw, thanks op! this is a hot deal if it goes through.

Manish, I don't have easy access to a fax, would you be willing to e-mail it to me?

Thanks OP. Took advantage of this deal last week.

workingonit said: How about posting the letter here?


Here is the pdf of the letter

click here

alternate link

rogerbeagle said: Link to pdf is broken... suppose I'm too late?Roger, the link is working for me:

1. click on the link in manish22's post
2. click on the orange 'button' that says "download" on the right side of the screen
3. click on the "Download File" link near the middle of the screen

Manish22... thank you very much!

going to the West Coldwell, NJ branch this Saturday. That is the West Coldwell mentioned in one of The Sopranos episodes.

wow...wish I had $10k+ in liquid assets to invest.

Please remember to open multiple 10K CD's, so that if rates skyrocket in the next 7 months (highly improbable but is possible) or if you need to break the CD's for some other reason, you will be able to do so without being forced to break all of them at once.

mnsweeps said: Holy molly I cannot believe I have 2 accounts with them and came to know today that they have a branch 2 blocks from where I live in Toluca Lake CA

How do you have 2 accounts and not know about it?

On Saturday I opened a CD at the branch in Ramsey, NJ. They asked if I had the letter, but I said I just found out from a friend and they did not seem to care. It literally took 3 minutes to open the account. No fuss at all. When I called a day before they did not even mention that I needed a letter or anything...so I am sure you could say that too.

I was able to open the linked pdf (the fisrt link) fine in Preview in Tiger. Have you tried redownload the file and open it again in Preview? If it still does not work, how about Adobe Reader 7.0? I have counted some files that has to be opened by Adobe Reader and Preview will not able to render the same file correctly.

Has anyone been able to get this rate in NJ? If so, did they ask for the letter?

Thanks

jensenjp said: Will have to look out for it the mailing.
I think these rates are some of the best around.

Is there a URL in the mailing?(you prolly would have posted it if there was wone, but I gotta ask anyhow)

SGB - wonder if you should start a new thread(as the current thread is for the wrong yield and marked as dead)

NO URL, not even a telephone number. Just says "visit your local branch by Saturday October 15th". Might be worth calling to find out if this is available to those that don't have a current CD with them.

I will start a new thread as well.