Bank of America a "Go" to Purchase Countrywide Bank

Bank of America Corp. stated it’s committed to buying Countrywide Financial Corp which includes Countrywide Bank. “Everything is a ‘go’ to complete this transaction,” Bank of America Chief Executive Officer Kenneth Lewis said at an investor conference today, in reference to Countrywide. Depositors at Countrywide Bank will become customers of Bank of America when the deal is finalized some time in the fall or winter of 2008 if the transaction moves forward as planned.

Deposit rates at Countrywide Bank remain very competive with both the 90-day and 180-day yielding 4.90% and their Savingslink account yielding 4.75%, rates which nearly top the rate lists at money-rates.com. The SavingsLink account comes with the following features:

The minimum deposit to open the SavingLink account is $1,000. Apply online here.