2014

Slight Drop In 1- And 3-Year CD Rates, Despite Talk Of Fed Scale Back On Stimulus TheStreet and RateWatch Report Top CD Rate Issuers

NEW YORK, May 28, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported this week the average 1- and 3-year CD rates dipped incrementally as national averages generally remained unchanged at record-low levels. The Federal Reserve has continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008.

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The slight drop in average 1- and 3-year CD rates occurred despite the suggestion in last week's Federal Reserve minutes that a growing number of members were considering scaling back on monetary stimulus.

"Economists and analysts have said that a pullback in Fed stimulus eventually could lead to a gradual increase in the federal funds rate. Investors in CDs must gauge the possibility of such a rise and then consider the length of CD to currently hold, says Joe Deaux, Economist at TheStreet. "Savers want to avoid costly penalties associated with early withdrawal from CDs in the event that they seek to reinvest because of rising rates."

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

0.24

2 year CD

0.38

0.38

3 year CD

0.50

0.51

4 year CD

0.63

0.63

5 year CD

0.81

0.81

 

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
(%)

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

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.bealbankusa.com

Umbrellabank.com

C

1000

0.400

866-862-7355

www.umbrellabank.com

3 Month CD

Financial
Strength
Rating

Minimum
to Earn
Interest
($)

APY
(%)

Beal Bank USA

B-

1000

0.510

702-598-3500

www.bealbankusa.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

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.bealbankusa.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.bealbankusa.com

CapitalSource Bank

B

10000

1.010

888-433-4272

www.capitalsourcebank.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

Signature Bank

A-

5000

1.110

646-822-1500

www.signatureny.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

1.550

212-584-6820

www.doralbankny.com

Customers Bank

D+

500

1.500

610-933-2000

www.customersbank.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

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

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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