OneWest Bank (Formerly IndyMac) CD, Money Market
Posted by Best Bank Rates under [ OneWest Bank (the bank formerly known as IndyMac Bank) has a new online CD special available nationwide. This special CD features a 12 month term at 2.65% APY. Minimum deposit is $5,000. The early withdrawal penalty is 6 months of interest.
OneWest also has a “Raise Your Rate CD” with the option of requesting a rate increase:
Raise Your Rate CD allows a one-time rate increase at anytime during the term of the CD in the event Raise Your Rate CD interest rates increase. The entire balance will begin earning the higher Raise Your Rate CD rate the day following the request and the original maturity date will remain unchanged.
This CD would appear to give you some buffer in case there is a sudden jump in CD rates. While this isn’t impossible, the current state of the economy would suggests that rates won’t rise anytime in the near future. On top of that, the starting rate of this CD is 2.45%, which is lower than that of the 1 year Online CD.
OneWest Bank also has a E-Money Market account with 2.25% APY for balances over $1,000.There is a $7/month service charge if your balance drops below $1,000.
All rates listed here are current as of 4/15/2009. OneWest Bank only recently received an entry in the FDIC database, with an established date of 3/19/2009.
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9 Comments on “OneWest Bank (Formerly IndyMac) CD, Money Market”
I hold three IndyMac Bank accounts. I live in Sudan and have done online baniking with IndyMac. I do not see how to do on line banking from this web cite. Please help me or I will have to change to another bank.
Wes Ringer
One West Bank has the worst customer service on the planet. Their customer service agents are ignorant of their own rates. They have a faulty system or thats what they tell you and they cheat you of your money by giving you a different rate than what you were promised. They do not respect their customers and the bank penalises you for everything. I would never put my money in this bank. They advertise good rates so they can get customers but then dont give them those rates and pretty much accuse the customer of lying.
thanks for this cd rate, i just opened a new certificate today
June 2, 2009
I am writing to you on behalf of my family and all the military families stuck in mortgages created within the last 3-4 years who are now receiving orders which will in turn create a foreclosure situation.
My husband received orders to Miami Fl in 2006. By 2007 the real estate market had dropped drastically and we felt we were in a buyer’s market. Because we were having trouble with our land lord, no base housing was offered, and we strongly believe in home ownership, we bought a home in Cutler Bay. The prices continued to drop so much so that our house today has lost almost half its value and the rental market will not bring enough to cover the mortgage, not to mention tax and insurance. In October 2008 my husband and I approached Indy Mac Bank (now One West Bank) letting them know our situation, we were awaiting orders for a June 2009 move, and pleaded with them to help us keep our home through a loan re modification. After two rejections we decided to place the home on the market as a short sale knowing that soon we would be unable to make the payments. We have now received two offers, one meeting the banks requirements, both of which were rejected by the bank as in their words we are still making our payments. Once we received an offer for the amount the bank requested, they increased the amount they would be willing to take by $20K. (They wanted cash from us no matter what)
Because of all the back and forth and since our first communication with Indy Mac Bank in regards to this matter, our home has continued to decrease in value and there is no end I sight. I believe one may say Indy Mac, under the ownership of the federal government, is cutting off its nose to spite its face. I can’t help but wonder what the tax payers would say when they find out Indy Mac could have received 200K for a property in a short sale but had to take $125 after foreclosure. How does this help the tax payers? Where is the return in investment?
We have never missed or been late on any mortgage payment. We are just good people, one of who has served his country for 14 years, and we are trying to do the right thing.
We now have no choice, as we are being forced to stop making our mortgage payments. I would think Indy Mac being a federal bank would be to our advantage. After all, we the tax payers own them. We helped them when they needed it and this is how we get repaid? We need your help to help save our credit and my husband’s and his peers good name and clearances. Please do not brush this aside as there are so many military families going through the same thing.
Help us stay ready!
Regards,
Heidi Burgess
These bums cheated me out of $40,000 of my money by lying to me about the FDIC rules regarding In Trust For (ITF) beneficiaries. They really suck! After I lost my money by trusting their assurances that I was insured for the full amount of my deposit, they had the balls to tell me I should have checked with the FDIC before believing them! What a bunch of assholes!
We applied for a loan modification through OneWest/Indymac Bank. There incompentcy in handling the modification has caused our home to go into foreclosure. They can’t seem to understand anything. Everytime I call, I end up talking to a different, explaining the situation all over again and the person I’m talking has no authority to do anything about the modification. I also get a different story every time I call because all the person can do is read whatever it says on the computer screen. I refuse to loose my home due to their incompetency and will sue if that’s what it takes. I having a difficult finding a number of someone I can talk to that can actually help me.
One West is has far the worst customer service of any corporation I have ever dealt with. Their customer service agents are rude and uneducated. They have never gotten the escrow correct on my account in 5 years! It is a very poorly run company and if I was not upside down on my house at the moment I would refinance in a heartbeat. I am truly disgusted with the service I have received. Having worked for a Fortune 500 company for many years in customer service I am shocked at the apathy and ignorance thier representatives project over the phone!
I totally agree with everyone and feel we should all get together and sue OneWestBank. They deal with Financial Freedom (who totall screwed us) My grandmother passed way in 2004. Because both FF and OWB couldn’t get there act together and sign off on the mortage, our family is now destroyed!!! My father’s brother’s and sister are suing us. We owe so much in lawyers fees that we will never get them paid off anytime soon. Who makes out? The banks. They took their good old time to go through everything and don’t care about anyone but themselves. They don’t have to pay laywers or have family sending hate mail to them. This has been going on for years and you mean to tell me they couldn’t have someone sign one piece of paper? We should do something about this?
One West has lied to me as they do to everyone. Hope Now helped put together the loan mod. and after IndyMac/OneWest lost it three times they had a collector call to tell me if I send in one payment it will hold off foreclosue long enough for them to approve my modification. Stupid me!! I got the foreclosure letter in the mail the next day. And, after calling and calling they would only say I did not qualify for the loan mod. There is no hope for those of us that have to deal with these guys. My house is worth less than half of what I owe, and they don’t get it. They will be getting back a house that they can not sell for $0.40 on the dollar. Time for me to pack my bags and move on. Good luck to those who sue them, I hope you can show the country that the little guy can still get justice.