Countrywide is offering the highest local CD (Certificate of Deposit) rate at 5.10% APY with a 3 month term. This CD available country wide, but this particular rate of 3 month 5.10% is only available for the state of California. You can check this by visiting Countrywide’s rate tier and typing in your zip code. If you are in California, the rate for the 3 month CD should change from 4.80% to 5.10%.

The Annual Percentage Yields (APY) is effective as of Monday, January 28, 2008. The minimum deposit to open a CD account and obtain the APY is $10,000 for a regular CD and $2,500 for an IRA CD. The penalty for early withdrawwl will 91 days of simple interest at the rate then paid on the account, whether or not paid or earned, on the amount of principal withdrawn.

I personally think this will be the highest and last 5.00% APY CD by Countrywide Bank, so take advantage of this offer while it lasts.