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      Fed will likely maintain a firm policy of low interest rates in the near term

      TheStreet and RateWatch Report Top CD Rate Issuers

      TheStreet

      News provided by

      TheStreet

      Mar 05, 2013, 03:59 ET

      Share this article

      Share this article


      NEW YORK, March 5, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that interest rates for savings products remained the same over the previous week based on data collected from over 90,000 financial institution locations.

      (Logo: http://photos.prnewswire.com/prnh/20130102/NY35868LOGO-b )

      Continue Reading
      TheStreet
      TheStreet

      (Logo: http://photos.prnewswire.com/prnh/20130219/NY62571LOGO )

      CD rates have 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. Federal Reserve Chairman Ben Bernanke's testimony to the U.S. Senate on Feb. 26 and the House on Feb. 27 suggested that the central bank would continue to keep interest-rates low. Fed Vice Chairman Janet Yellen said Monday that she believed the balance of risks still called for highly accommodative monetary policy.

      "Federal Open Market Committee minutes from the January meeting triggered concerns last month among investors as the report noted that 'many' members were considering the need to scale back purchases of longer-term Treasuries and mortgage-backed securities before the end of 2013," says Joe Deaux, TheStreet's economist. "Bernanke's testimony and Yellen's comments have led many economists and financial analysts to judge that the Fed will maintain a firm policy of low interest rates in the near term. Reiteration by Fed leaders of the need to continue easing at least through 2013 may have dispelled market concerns. Congress' decision not to act immediately on sequestration -- across-the-board spending cuts that went into effect March 1 -- signaled fiscal tightening, which likely put more pressure on the central bank to maintain monetary expansion."

      NATIONAL AVERAGE RESULTS - $10K


      This
      week

      Last
      week

      Money Market

      0.12

      0.12

      1 month CD

      0.06

      0.06

      3 month CD

      0.10

      0.10

      6 month CD

      0.16

      0.16

      1 year CD

      0.25

      0.25

      2 year CD

      0.40

      0.40

      3 year CD

      0.54

      0.54

      4 year CD

      0.66

      0.66

      5 year CD

      0.85

      0.85

      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

      0.950

      801-281-1423

      www.salliemaebank.com

      Ally Bank

      B+

      1

      0.900

      877-247-2559

      www.ally.com

      Customers Bank

      C-

      10000

      0.800

      610-933-2000

      www.customersbank.com

      1 Month CD

      Financial
      Strength
      Rating

      Minimum
      to Earn
      Interest

      APY

      First NBC Bank

      B-

      1000

      0.510

      504-671-3550

      www.firstnbcbank.com

      Pinnacle Bank

      B-

      500

      0.500

      402-529-3581

      www.pinnbank.com

      Carter Bank & Trust

      C+

      2500

      0.500

      828-325-9800

      www.carterbankandtrust.com

      3 Month CD

      Financial
      Strength
      Rating

      Minimum
      to Earn
      Interest

      APY

      Eloan.com

      C-

      10000

      0.600

      888-533-5333

      www.eloan.com

      EverBank

      D+

      1500

      0.590

      888-882-3837

      www.everbank.com

      Beal Bank, SSB

      C

      1000

      0.511

      205-202-8511

      www.bealbank.com

      6 Month CD

      Financial
      Strength
      Rating

      Minimum
      to Earn
      Interest

      APY

      Doral Bank

      E+

      500

      0.890

      212-329-3700

      www.doralbankdirect.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

      E+

      500

      1.200

      212-584-6820

      www.doralbankny.com

      Beal Bank USA

      B-

      1000

      1.110

      786-347-3601

      www.bealbankusa.com

      Eloan.com

      C-

      10000

      1.020

      888-533-5333

      www.eloan.com

      2 Year CD

      Financial
      Strength
      Rating

      Minimum
      to Earn
      Interest

      APY

      Doral Bank

      E+

      500

      1.450

      212-584-6820

      www.doralbankny.com

      FirstBank Florida

      D+

      1000

      1.250

      305-740-9522

      www.firstbankfla.com

      Nationwide Bank

      B+

      10000

      1.200

      614-249-6226

      www.nationwide.com

      3 Year CD

      Financial
      Strength
      Rating

      Minimum
      to Earn
      Interest

      APY

      First NBC Bank

      B-

      10000

      1.970

      504-671-3550

      www.firstnbcbank.com

      Doral Bank

      E+

      500

      1.550

      212-584-6820

      www.doralbankny.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

      1.750

      978-462-3106

      www.institutionforsavings.com

      Doral Bank

      E+

      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

      First NBC Bank

      B-

      10000

      2.120

      504-671-3550

      www.firstnbcbank.com

      Carter Bank & Trust

      C+

      100

      2.020

      910-630-2500


      Institution for Savings In Newburyport

      B

      1

      2.000

      978-462-3106

      www.institutionforsavings.com

      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.

      Data is surveyed weekly with averages calculated each Monday afternoon from RateWatch's unbiased national interest rate survey of over 90,000 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 90,000 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. is a leading digital financial media company that distributes its content through online, social media, tablet and mobile channels. The Company's network of brands includes: TheStreet, RealMoney, RealMoney Pro, Stockpickr, Action Alerts PLUS, Options Profits, Chat on TheStreet, MainStreet and RateWatch. For more information on TheStreet's business, visit www.t.st. For financial and business news, actionable trading ideas, stock quotes and more, visit TheStreet.com, follow TheStreet on Facebook and Twitter, and access TheStreet through all major mobile and tablet platforms.  For more information on The Deal, visit www.thedeal.com.

      Contact:
      Erin Corcoran
      TheStreet, Inc.
      212-321-5566
      [email protected]

      SOURCE TheStreet

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