NEW YORK, Jan. 7, 2014 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages for 5-year CD rates decreased one basis point this week, while other durations remained unchanged as the Federal Reserve has continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008.
(Logo: http://photos.prnewswire.com/prnh/20130219/NY62571LOGO )
(Logo: http://photos.prnewswire.com/prnh/20130102/NY35868LOGO-b )
"The 5-year CD rate has fluctuated the most since the Fed announced it would begin to scale back its economic stimulus program. Savers should expect longer duration CD rates to move as it shows that the market expects interest rates to begin to rise in the next few years," reported Joe Deaux, TheStreet's Economics Analyst. "Investors wondering why we haven't seen an immediate jump in CDs should know such a catalyst won't occur until the Fed signals that it will begin to raise rates, which may not occur until 2015."
NATIONAL AVERAGE RESULTS - $10K
This week |
Last week |
|
Money Market |
0.10 |
0.10 |
1 month CD |
0.06 |
0.06 |
3 month CD |
0.09 |
0.09 |
6 month CD |
0.14 |
0.14 |
1 year CD |
0.23 |
0.23 |
2 year CD |
0.37 |
0.37 |
3 year CD |
0.51 |
0.51 |
4 year CD |
0.63 |
0.63 |
5 year CD |
0.81 |
0.82 |
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 |
First NBC Bank |
B- |
10000 |
1.260 |
504-671-3550 |
|||
www.firstnbcbank.com |
|||
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 |
0.850 |
877-247-2559 |
|||
www.ally.com |
|||
1 Month CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
Beal Bank USA |
C+ |
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 |
0.400 |
619-894-8066 |
|||
www.bealbank.com |
|||
Merchants Bank of Indiana |
A- |
1 |
0.350 |
765-874-2511 |
|||
www.merchantsbankofindiana.com |
|||
Pinnacle Bank |
B+ |
500 |
0.350 |
402-454-6515 |
|||
www.pinnbank.com |
|||
3 Month CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
Beal Bank USA |
C+ |
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 |
0.500 |
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 |
|||
Beal Bank USA |
C+ |
1000 |
0.750 |
702-598-3500 |
|||
www.bealbank.com |
|||
GE Capital Bank |
A |
500 |
0.700 |
801-517-5000 |
|||
www.gecapitalbank.com |
|||
Discover Bank |
C |
500 |
0.650 |
888-765-6654 |
|||
www.discoverbank.com |
|||
VirtualBank |
B- |
10000 |
0.650 |
561-776-8860 |
|||
www.virtualbank.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 |
C+ |
1000 |
1.110 |
786-347-3601 |
|||
www.bealbank.com |
|||
CIT Bank |
B+ |
1000 |
1.020 |
801-412-6800 |
|||
www.bankoncit.com |
|||
GE Capital Bank |
A |
500 |
1.000 |
801-517-5000 |
|||
www.gecapitalbank.com |
|||
Nationwide Bank |
B |
10000 |
0.960 |
614-249-6226 |
|||
www.nationwide.com |
|||
2 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
Doral Bank |
D- |
500 |
1.450 |
212-584-6820 |
|||
www.doralbankny.com |
|||
CIT Bank |
B+ |
1000 |
1.170 |
801-412-6800 |
|||
www.bankoncit.com |
|||
GE Capital Bank |
A |
500 |
1.150 |
801-517-5000 |
|||
www.gecapitalbank.com |
|||
Guaranty Bond Bank, National Association |
B+ |
1000 |
1.150 |
903-572-9881 |
|||
www.gnty.com |
|||
Emigrant Bank |
C- |
1000 |
1.150 |
212-850-4521 |
|||
www.emigrant.com |
|||
3 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
Northern Bank & Trust Company |
C+ |
500 |
1.600 |
781-937-5423 |
|||
www.nbtc.com |
|||
Doral Bank |
D- |
500 |
1.600 |
212-584-6820 |
|||
www.doralbankny.com |
|||
Intervest National Bank |
C- |
2500 |
1.450 |
212-218-8383 |
|||
www.intervestnatbank.com |
|||
Boiling Springs Savings Bank |
C+ |
1000 |
1.400 |
201-939-6600 |
|||
www.bssbank.com |
|||
Community Bank |
C- |
1000 |
1.400 |
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 |
|||
HarborOne Bank |
U |
1 |
2.000 |
508-895-1000 |
|||
www.harborone.com |
|||
EverBank |
C+ |
1500 |
1.680 |
888-882-3837 |
|||
www.everbank.com |
|||
Nationwide Bank |
B |
10000 |
1.670 |
614-249-6226 |
|||
www.nationwide.com |
|||
Doral Bank |
D- |
500 |
1.650 |
212-584-6820 |
|||
www.doralbankny.com |
|||
5 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
EverBank |
C+ |
1500 |
2.160 |
888-882-3837 |
|||
www.everbank.com |
|||
iGObanking.com |
C+ |
1000 |
2.150 |
888-432-5890 |
|||
www.igobanking.com |
|||
Flushing Commercial Bank |
C+ |
5000 |
2.150 |
718-512-2929 |
|||
www.flushingbank.com |
|||
VirtualBank |
B- |
10000 |
2.020 |
561-776-8860 |
|||
www.virtualbank.com |
|||
GE Capital Bank |
A |
500 |
2.010 |
801-517-5000 |
|||
www.gecapitalbank.com |
Financial Strength Rating: A=Excellent, B=Good, C=Fair, D=Weak, E=Very Weak, U=Unrated |
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:
Emily Schneider
TheStreet, Inc.
212-321-5521
[email protected]
Joe Deaux
TheStreet, Inc.
212-321-5086
[email protected]
SOURCE TheStreet, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article