2014

Savers Beware: Banks Offering Attractive CD Rates May Be on Less Stable Ground TheStreet and RateWatch Report Top CD Rate Issuers

NEW YORK, July 2, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today the average 5-year CD rate rose incrementally as national averages generally remained unchanged at record-low levels.  

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"Savers see that while mortgage rates begin to rise, CD rates appear frozen. This creates a difficult position for investors who could be paying higher mortgage rates without receiving a higher return on their cash investments," reports Joe Deaux, TheStreet's Economist. "Banks in stronger financial position are flush with cash and therefore in less need of attracting more deposits. Savers should be aware that some banks looking to attract deposits have more attractive CD rates, but may be on less stable financial footing."

NATIONAL AVERAGE RESULTS - $10K

 


This

week

Last

week

Money Market

0.11

0.11

1 month CD

0.06

0.06

3 month CD

0.09

0.09

6 month CD

0.15

0.15

1 year CD

0.23

0.23

2 year CD

0.37

0.37

3 year CD

0.50

0.50

4 year CD

0.63

0.63

5 year CD

0.81

0.80

TOP RATE ISSUERS - $10K 
This is a list of issuers with top interest rates. The issuer's Financial Strength Rating is an independent, unbiased evaluation of quarterly regulatory statements. Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity. For more information, visit www.weissratings.com/help/what-our-ratings-mean.aspx.  Information is believed to be accurate, but not guaranteed.

 

Money Market

Financial

Strength

Rating

Minimum

to Earn

Interest
($)

APY
(%)

Doral Bank

D-

5000

0.940

212-584-6820

www.doralbankny.com

Sallie Mae Bank

A-

1

0.900

801-281-1423

www.salliemaebank.com

Mercantil Commercebank, National Association

C

10000

0.900

305-460-8701

www.mercantilcb.com

Ally Bank

B+

1

0.840

877-247-2559

www.ally.com

Customers Bank

D+

10000

0.800

610-933-2000

www.customersbank.com

1 Month CD

Financial

Strength

Rating

Minimum

 to Earn

Interest ($)

APY 

 (%)

Carter Bank & Trust

C+

2500

0.500

276-632-2901

www.carterbankandtrust.com

Beal Bank USA

B-

1000

0.400

702-598-3500

www.bealbank.com

Umbrellabank.com

C

1000

0.400

866-862-7355

www.umbrellabank.com

Beal Bank, SSB

C

1000

0.040

469-467-5000

www.bealbank.com

First National Bank

E-

1000

0.360

956-380-8530

www.webfnb.com

3 Month CD

Financial

Strength

 Rating

Minimum

to Earn

 Interest
($)

APY
(%)

Beal Bank USA

B-

1000

0.510

702-598-3500

www.bealbank.com

Umbrellabank.com

C

1000

0.510

866-862-7355

www.umbrellabank.com

Institution for Savings In Newburyport

B

1

0.500

978-462-3106

www.institutionforsavings.com

Doral Bank

D-

500

0.050

850-914-2525

www.doralbankflorida.com  

FirstBank Florida

D+

1000

0.500

305-740-9522

www.firstbankfla.com

6 Month CD

Financial

Strength

Rating

Minimum

to Earn

 Interest
($)

APY
(%)

Doral Bank

D-

500

1.000

212-584-6820

www.doralbankny.com

CapitalSource Bank

B+

10000

0.800

888-433-4272

www.capitalsourcebank.com

Beal Bank USA

B-

1000

0.750

702-598-3500

www.bealbank.com

Discover Bank

C+

2500

0.650

888-765-6654

www.discoverbank.com

Ally Bank

B+

1

0.610

877-247-2559

www.ally.com

1 Year CD

Financial

Strength

Rating

Minimum

 to Earn

 Interest
($)

APY
(%)

Doral Bank

D-

500

1.200

212-584-6820

www.doralbankny.com

Beal Bank USA

B-

1000

1.110

786-347-3601

www.bealbank.com

CapitalSource Bank

B+

10000

1.010

888-433-4272

www.capitalsourcebank.com

Ally Bank

B+

1

0.940

877-247-2559

www.ally.com

CIT Bank

B+

1000

0.900

801-412-6800

www.bankoncit.com

2 Year CD

Financial

Strength

 Rating

Minimum

 to Earn

Interest
($)

APY
(%)

Doral Bank

D-

500

1.450

212-584-6820

www.doralbankny.com

Emigrant Bank

C+

1000

1.150

212-850-4521

www.emigrant.com

First Republic Bank

D+

1000

1.100

415-392-1400

www.firstrepublic.com

Signature Bank

A-

5000

1.110

646-822-1500

www.signatureny.com

Community Bank

C+

1000

1.100

800-239-9427

www.dodcommunitybank.com

3 Year CD

Financial

Strength

 Rating

Minimum

 to Earn

 Interest
($)

APY
(%)

First NBC Bank

B-

10000

1.820

504-671-3550

www.firstnbcbank.com

Doral Bank

D-

500

1.600

212-584-6820

www.doralbankny.com

Customers Bank

D+

500

1.500

610-933-2000

www.customersbank.com

Boiling Springs Savings Bank

C

1000

1.500

201-939-6600

 www.bssbank.com

Community Bank

C+

1000

1.450

800-239-9427

www.dodcommunitybank.com

4 Year CD

Financial

Strength

 Rating

Minimum

to Earn

 Interest
($)

APY
(%)

Institution for Savings In Newburyport

B

1

2.000

978-462-3106

www.institutionforsavings.com

Doral Bank

D-

500

1.650

212-584-6820

www.doralbankny.com

Emigrant Bank

C+

1000

1.650

212-850-4521

www.emigrant.com

First Interstate Bank

C

1000

1.550

406-862-7437

www.firstinterstatebank.com

Yakima Federal Savings & Loan Association

A

10000

1.550

509-248-2634

www.yakimafed.com

5 Year CD

Financial

Strength

Rating

Minimum

 to Earn

Interest
($)

APY
(%)

Institution for Savings In Newburyport

B

1

2.000

978-462-3106

www.institutionforsavings.com

Boiling Springs Savings Bank

C

1000

2.000

201-939-6600

www.bssbank.com

First Republic Bank

B+

5000

2.000

415-392-1400

www.firstrepublic.com

First NBC Bank

B-

10000

1.970

504-671-3550

www.firstnbcbank.com

Doral Bank

D-

500

1.850

212-584-6820

www.doralbankny.com

 

Financial Strength Rating: A=Excellent, B=Good, C=Fair, D=Weak, E=Very Weak

                                                Plus sign "+" = top of range, Minus sign "-" = bottom of range

Data is surveyed weekly with averages calculated each Monday afternoon from RateWatch's unbiased national interest rate survey of over 96,000 financial institution locations across the United States.

About RateWatch 
For over 20 years, RateWatch has been the premier provider of competitive interest rate and product information to financial institutions across the United States.  Consistently providing top quality, highly relevant data RateWatch maintains the largest database in the industry with deposit, loan, and fee information monitoring over 96,000 locations. Rate surveys, product comparisons, financial strength reporting, local/regional/national averages, fee reporting, specialty reports and more are available.  To learn more about RateWatch, visit www.rate-watch.com.  RateWatch is a division of TheStreet, Inc.

About TheStreet 
TheStreet, Inc. (www.t.st) is the leading independent digital financial media company providing business and financial news, investing ideas and analysis to personal and institutional investors worldwide.  The Company's portfolio of business and personal finance brands includes: TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts PLUS, Options Profits, MainStreet and RateWatch. To learn more, visit www.thestreet.com.  The Deal, the Company's institutional business, provides intraday coverage of mergers and acquisitions and all other changes in corporate control.  To learn more, visit www.thedeal.com.

Contact:

Erin Corcoran
TheStreet, Inc.
212-321-5566
erin.corcoran@thestreet.com

 

SOURCE TheStreet, Inc.



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