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Record Lows For Money Market Accounts And CD Rates Continue

TheStreet and RateWatch Report Top CD Rate Issuers


News provided by

TheStreet, Inc.

Apr 09, 2013, 03:04 ET

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NEW YORK, April 9, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that National averages for Money Market Accounts, 1 year and 5 year CD rates each decreased slightly but have generally remained 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 Federal Reserve is expected to release on Wednesday the minutes of its March 20 policy-making meeting. The Fed already has disclosed the policy changes of that meeting, but investors look forward to the release in order to gather more details.

"St. Louis Fed President James Bullard in a CNBC interview on Tuesday said he would be open to scaling back the central bank's bond-buying program as he believed the U.S. economy likely would continue to improve," says Joe Deaux, TheStreet's Economist. "Voting members of the FOMC have continued to reiterate their commitment to short-term low interest rates, which would keep rates low for savers looking to invest in CDs."

NATIONAL AVERAGE RESULTS - $10K


This week

Last week

Money Market

0.11

0.12

1 month CD

0.06

0.06

3 month CD

0.10

0.10

6 month CD

0.15

0.15

1 year CD

0.24

0.25

2 year CD

0.39

0.39

3 year CD

0.52

0.52

4 year CD

0.65

0.65

5 year CD

0.83

0.84

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
(%)

Mercantil Commercebank, National Association

C

10000

1.000

305-460-8701

www.mercantilcb.com

Sallie Mae Bank

A-

1

0.950

801-281-1423

www.salliemaebank.com

Ally Bank

B+

1

0.840

877-247-2559

www.ally.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

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

3 Month CD

Financial Strength Rating

Minimum to Earn Interest
($)

APY
(%)

Eloan.com

C-

10000

0.550

888-533-5333

www.eloan.com

Beal Bank, SSB

C

1000

0.511

713-888-3900

www.bealbank.com

Beal Bank USA

B-

1000

0.510

702-598-3500

www.bealbankusa.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

CIT Bank

B+

1000

1.010

801-412-6800

www.bankoncit.com

2 Year CD

Financial Strength Rating

Minimum to Earn Interest
($)

APY
(%)

Doral Bank

D-

500

1.450

212-584-6820

www.doralbankny.com

Nationwide Bank

B+

10000

1.200

614-249-6226

www.nationwide.com

VirtualBank

C+

10000

1.160

561-776-8860

www.virtualbank.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

D-

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

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
(%)

First NBC Bank

B-

10000

2.120

504-671-3550

www.firstnbcbank.com

Institution for Savings In Newburyport

B

1

2.000

978-462-3106

www.institutionforsavings.com

National Republic Bank of Chicago

C

1000

1.870

312-738-4900

www.nrbchicago.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 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, Inc.

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