Halted Benchmark Interest Rate Leaves CD Savers In Low-Yield Environment
TheStreet and RateWatch Report Top National & Regional CD Rate Issuer
NEW YORK, June 24, 2014 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages this week for CD rates of all durations remained unchanged as the Federal Reserve continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008.
"National averages of CD rates have remained unchanged for more than two months. The Fed's statement last Wednesday suggested that the central bank isn't near to raising the benchmark interest rate, which leaves savers looking to park their cash in a historically low-yield savings environment," reported Joe Deaux, TheStreet's Economics Analyst. "With just one central bank meeting between now and the beginning of fall, investors can expect little to no change in CD rates."
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 |
0.55 |
0.55 |
| 3 year CD |
0.75 |
0.75 |
| 4 year CD |
0.93 |
0.93 |
| 5 year CD |
1.14 |
1.14 |
| * 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 |
Minimum |
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 |
|||
| Sallie Mae Bank |
A- |
1 |
0.900 |
| 877-346-2756 |
|||
| www.salliemaebank.com |
|||
| Ally Bank |
A- |
1 |
0.850 |
| 877-247-2559 |
|||
| www.ally.com |
|||
| Synchrony Bank |
C+ |
10000 |
0.850 |
| 866-869-4671 |
|||
| www.myoptimizerplus.com |
|||
| 1 Month CD |
Financial |
Minimum |
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 |
|||
| Carter Bank & Trust |
C+ |
2500 |
0.400 |
| 276-632-2901 |
|||
| www.carterbankandtrust.com |
|||
| Merchants Bank of Indiana |
B+ |
1 |
0.350 |
| 765-874-2511 |
|||
| www.merchantsbankofindiana.com |
|||
| 3 Month CD |
Financial |
Minimum |
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 |
Minimum |
APY |
| Doral Bank |
D- |
500 |
0.950 |
| 850-914-2525 |
|||
| 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 |
|||
| National Republic Bank of Chicago |
E+ |
1000 |
0.700 |
| 312-738-4900 |
|||
| www.nrbchicago.com |
|||
| Colorado Federal Savings Bank |
B- |
5000 |
0.700 |
| 877-484-2372 |
|||
| www.coloradofederalbank.com |
|||
| 1 Year CD |
Financial |
Minimum |
APY |
| Beal Bank USA |
C+ |
1000 |
1.110 |
| 786-347-3601 |
|||
| www.bealbank.com |
|||
| GE Capital Bank |
A |
500 |
1.100 |
| 801-517-5000 |
|||
| www.gecapitalbank.com |
|||
| Doral Bank |
D- |
500 |
1.100 |
| 850-447-3000 |
|||
| www.doralbankflorida.com |
|||
| VirtualBank |
B |
10000 |
1.070 |
| 561-776-8860 |
|||
| www.virtualbank.com |
|||
| Synchrony Bank |
C+ |
2000 |
1.050 |
| 866-869-4671 |
|||
| www.myoptimizerplus.com |
|||
| 2 Year CD |
Financial |
Minimum |
APY |
| Doral Bank |
D- |
500 |
1.300 |
| 850-914-2525 |
|||
| www.doralbankflorida.com |
|||
| EverBank |
B- |
1500 |
1.260 |
| 888-882-3837 |
|||
| www.everbank.com |
|||
| VirtualBank |
B |
10000 |
1.260 |
| 561-776-8860 |
|||
| www.virtualbank.com |
|||
| Salem Five Direct |
B |
10000 |
1.250 |
| 800-850-5000 |
|||
| www.salemfivedirect.com |
|||
| GE Capital Bank |
A |
500 |
1.200 |
| 801-517-5000 |
|||
| www.gecapitalbank.com |
|||
| 3 Year CD |
Financial |
Minimum |
APY |
| Northern Bank & Trust Company |
B |
500 |
1.600 |
| 781-937-5423 |
|||
| www.nbtc.com |
|||
| Doral Bank |
D- |
500 |
1.500 |
| 850-914-2525 |
|||
| www.doralbankflorida.com |
|||
| Oritani Savings Bank |
A- |
1000 |
1.500 |
| 201-664-5400 |
|||
| www.oritani.com |
|||
| First Republic Bank |
B+ |
5000 |
1.500 |
| 415-392-1400 |
|||
| www.firstrepublic.com |
|||
| EverBank |
B- |
1500 |
1.450 |
| 888-882-3837 |
|||
| www.everbank.com |
|||
| 4 Year CD |
Financial |
Minimum |
APY |
| Institution for Savings In Newburyport |
B |
1 |
2.000 |
| 978-462-3106 |
|||
| www.institutionforsavings.com |
|||
| First Republic Bank |
B+ |
5000 |
2.000 |
| 415-392-1400 |
|||
| www.firstrepublic.com |
|||
| Nationwide Bank |
B |
10000 |
1.790 |
| 877-422-6569 |
|||
| www.nationwide.com |
|||
| VirtualBank |
B |
10000 |
1.790 |
| 561-776-8860 |
|||
| www.virtualbank.com |
|||
| EverBank |
B- |
1500 |
1.780 |
| 888-882-3837 |
|||
| www.everbank.com |
|||
| 5 Year CD |
Financial |
Minimum |
APY |
| EverBank |
B- |
1500 |
2.300 |
| 888-882-3837 |
|||
| www.everbank.com |
|||
| CIT Bank |
B+ |
1000 |
2.251 |
| 801-412-6800 |
|||
| www.bankoncit.com |
|||
| Barclays Bank Delaware |
C+ |
1 |
2.250 |
| 888-710-8756 |
|||
| www.banking.barclaysus.com |
|||
| GE Capital Bank |
A |
500 |
2.250 |
| 801-517-5000 |
|||
| www.gecapitalbank.com |
|||
| Synchrony Bank |
C+ |
2000 |
2.250 |
| 866-869-4671 |
|||
| www.myoptimizerplus.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 Scheer
TheStreet, Inc.
212-321-5521
[email protected]
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SOURCE TheStreet, Inc.
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