NEW YORK, April 1, 2014 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages for two-year and five-year CD rates increased by one basis point, while all other durations remained unchanged this week 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.
"Savers are familiar with recent fluctuation in two-year CD rates, but a move higher in tandem with five-year rates suggests that banks are beginning to adjust for a rising interest rate environment due to the Fed's guidance that it will raise the federal funds rate in late-2015," reported Joe Deaux, TheStreet's Economics Analyst. "Those who yearned for somewhere to park cash during the economic recovery are sensing the opportunity for meaningful yield on CDs for the first time since the mid-2000s."
NATIONAL AVERAGE RESULTS - $10K
This week |
Last week |
|
Money Market |
0.15 |
0.15 |
1 month CD |
0.11 |
0.11 |
3 month CD |
0.15 |
0.15 |
6 month CD |
0.23 |
0.23 |
1 year CD |
0.36 |
0.36 |
2 year CD |
0.56 |
0.55 |
3 year CD |
0.75 |
0.75 |
4 year CD |
0.92 |
0.92 |
5 year CD |
1.14 |
1.13 |
* National Average is calculated using one unique rate per institution. Averages are based on Banks, Savings & Loans, Brokers and Internet Banks with assets greater than $1 Billion.
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 |
|||
Salem Five Direct |
B |
1 |
1.000 |
800-850-5000 |
|||
www.salemfivedirect.com |
|||
Doral Bank |
D- |
1 |
0.940 |
212-584-6820 |
|||
www.doralbankny.com |
|||
Sallie Mae Bank |
A- |
1 |
0.900 |
877-346-2756 |
|||
www.salliemaebank.com |
|||
Mercantil Commercebank, National Association |
C |
10000 |
0.900 |
305-460-8701 |
|||
www.mercantilcb.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 |
850-447-3000 |
|||
www.doralbankflorida.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 |
|||
Hanmi Bank |
B |
1000 |
0.700 |
213-427-5757 |
|||
www.hanmi.com |
|||
Colorado Federal Savings Bank |
B- |
5000 |
0.700 |
877-484-2372 |
|||
www.coloradofederalbank.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 |
|||
GE Capital Bank |
A |
500 |
1.050 |
801-517-5000 |
|||
www.gecapitalbank.com |
|||
CIT Bank |
B+ |
1000 |
1.020 |
801-412-6800 |
|||
www.bankoncit.com |
|||
VirtualBank |
B |
10000 |
1.010 |
561-776-8860 |
|||
www.virtualbank.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 |
|||
Barclays Bank Delaware |
C+ |
1 |
1.150 |
888-710-8756 |
|||
www.banking.barclaysus.com |
|||
GE Capital Bank |
A |
500 |
1.150 |
801-517-5000 |
|||
www.gecapitalbank.com |
|||
Hudson City Savings Bank |
C |
500 |
1.150 |
201-967-1900 |
|||
www.hcsbonline.com |
|||
3 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
Northern Bank & Trust Company |
B- |
500 |
1.600 |
781-937-5423 |
|||
www.nbtc.com |
|||
Doral Bank |
D- |
500 |
1.600 |
212-584-6820 |
|||
www.doralbankny.com |
|||
Oritani Savings Bank |
B+ |
1000 |
1.500 |
201-664-5400 |
|||
www.oritani.com |
|||
Intervest National Bank |
C |
2500 |
1.450 |
212-218-8383 |
|||
www.intervestnatbank.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 |
|||
EverBank |
B- |
1500 |
1.810 |
888-882-3837 |
|||
www.everbank.com |
|||
Oritani Savings Bank |
B+ |
1000 |
1.750 |
201-664-5400 |
|||
www.oritani.com |
|||
CIT Bank |
B+ |
1000 |
1.700 |
801-412-6800 |
|||
www.bankoncit.com |
|||
GE Capital Retail Bank |
C+ |
2000 |
1.700 |
866-869-4671 |
|||
www.gecrb.com |
|||
5 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
EverBank |
B- |
1500 |
2.270 |
888-882-3837 |
|||
www.everbank.com |
|||
CIT Bank |
B+ |
1000 |
2.251 |
801-412-6800 |
|||
www.bankoncit.com |
|||
First Republic Bank |
B+ |
5000 |
2.250 |
415-392-1400 |
|||
www.firstrepublic.com |
|||
GE Capital Retail Bank |
C+ |
2000 |
2.200 |
866-869-4671 |
|||
www.gecrb.com |
|||
Barclays Bank Delaware |
C+ |
1 |
2.150 |
888-710-8756 |
|||
www.banking.barclaysus.com |
Financial Strength Rating: A=Excellent, B=Good, C=Fair, D=Weak, E=Very Weak, U=Unrated
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 97,000 financial institution locations across the United States. National Average is calculated using one unique rate per institution. Averages and Top Rate Issuers are based on Banks, Savings & Loans, Brokers and Internet Banks with assets greater than $1 Billion.
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 97,000 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]
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SOURCE TheStreet, Inc.
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