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13.08.2013 19:47:00
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Investors Should Remain Patient with CDs as Fed Maintains Low Fund Rates
NEW YORK, Aug. 13, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today national averages for CD rates generally remained unchanged at record-low levels.
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"CD rates continue to remain mostly unchanged this summer, and savers see few appealing CDs to lure their cash from other investments," said Joe Deaux, TheStreet's Economist. "With little chance of the Federal Reserve raising the federal funds rate any time soon, investors must remain patient with exceptionally low rates on deposits."
Regionally, the Boston and Philadelphia area banks offered incremental gains across various rates, while the Dallas and New Haven region banks on average cut rates.
NATIONAL AVERAGE RESULTS - $10K
This | Last | |
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 | 0.23 |
2 year CD | 0.37 | 0.37 |
3 year CD | 0.50 | 0.50 |
4 year CD | 0.63 | 0.63 |
5 year CD | 0.81 | 0.81 |
BOSTON REGION AVERAGE RESULTS - $10K
This | Last | |
Money Market | 0.13 | 0.13 |
1 month CD | 0.06 | 0.06 |
3 month CD | 0.13 | 0.13 |
6 month CD | 0.19 | 0.17 |
1 year CD | 0.28 | 0.28 |
2 year CD | 0.46 | 0.46 |
3 year CD | 0.58 | 0.58 |
4 year CD | 0.71 | 0.71 |
5 year CD | 0.85 | 0.85 |
NEW HAVEN REGION AVERAGE RESULTS - $10K
This | Last | |
Money Market | 0.09 | 0.10 |
1 month CD | 0.06 | 0.06 |
3 month CD | 0.07 | 0.07 |
6 month CD | 0.09 | 0.09 |
1 year CD | 0.13 | 0.14 |
2 year CD | 0.24 | 0.25 |
3 year CD | 0.42 | 0.43 |
4 year CD | 0.55 | 0.56 |
5 year CD | 0.72 | 0.73 |
DALLAS REGION AVERAGE RESULTS - $10K
This | Last | |
Money Market | 0.11 | 0.11 |
1 month CD | 0.07 | 0.07 |
3 month CD | 0.10 | 0.10 |
6 month CD | 0.16 | 0.17 |
1 year CD | 0.28 | 0.28 |
2 year CD | 0.43 | 0.43 |
3 year CD | 0.55 | 0.56 |
4 year CD | 0.66 | 0.67 |
5 year CD | 0.87 | 0.88 |
PHILADELPHIA REGION AVERAGE RESULTS - $10K
This | Last | |
Money Market | 0.12 | 0.12 |
1 month CD | 0.06 | 0.06 |
3 month CD | 0.10 | 0.10 |
6 month CD | 0.14 | 0.14 |
1 year CD | 0.23 | 0.23 |
2 year CD | 0.37 | 0.37 |
3 year CD | 0.48 | 0.47 |
4 year CD | 0.64 | 0.64 |
5 year CD | 0.83 | 0.83 |
TOP RATE ISSUERS - $10K
This is a list of issuers with top interest rates. The issuer's Financial Strength Rating isan 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, visitwww.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 | |||
Doral Bank | D- | 5000 | 0.950 |
212-584-6820 | |||
Sallie Mae Bank | A- | 1 | 0.900 |
801-281-1423 | |||
Mercantil Commercebank, | C | 10000 | 0.900 |
305-460-8701 | |||
Ally Bank | B+ | 1 | 0.840 |
877-247-2559 | |||
1 Month CD | Financial Strength Rating | Minimum to Earn Interest | APY |
Pacific Trust Bank, FSB | C+ | 1 | 0.800 |
877-441-2265 | |||
Carter Bank & Trust | C+ | 2500 | 0.500 |
276-632-2901 | |||
Beal Bank USA | B- | 1000 | 0.400 |
702-598-3500 | |||
Umbrellabank.com | C | 1000 | 0.400 |
866-862-7355 | |||
Beal Bank, SSB | C | 1000 | 0.400 |
469-467-5000 | |||
3 Month CD | Financial Strength Rating | Minimum to Earn Interest | APY |
Pacific Trust Bank, FSB | C+ | 1 | 0.800 |
877-441-2265 | |||
Beal Bank USA | B- | 1000 | 0.510 |
702-598-3500 | |||
Umbrellabank.com | C | 1000 | 0.510 |
866-862-7355 | |||
Institution for Savings In | B | 1 | 0.500 |
978-462-3106 | |||
Doral Bank | D- | 500 | 0.500 |
850-914-2525 | |||
6 Month CD | Financial Strength Rating | Minimum to Earn Interest | APY |
Doral Bank | D- | 500 | 1.000 |
212-584-6820 | |||
Pacific Trust Bank, FSB | C+ | 1 | 0.800 |
877-441-2265 | |||
CapitalSource Bank | B+ | 10000 | 0.800 |
888-433-4272 | |||
Beal Bank USA | B- | 1000 | 0.750 |
702-598-3500 | |||
Discover Bank | C+ | 2500 | 0.650 |
888-765-6654 | |||
1 Year CD | Financial Strength Rating | Minimum to Earn Interest | APY |
Doral Bank | D- | 500 | 1.200 |
212-584-6820 | |||
Beal Bank USA | B- | 1000 | 1.110 |
786-347-3601 | |||
CapitalSource Bank | B+ | 10000 | 1.010 |
888-433-4272 | |||
Nationwide Bank | B+ | 10000 | 0.960 |
614-249-6226 | |||
Ally Bank | B+ | 1 | 0.940 |
877-247-2559 | |||
2 Year CD | Financial Strength Rating | Minimum to Earn Interest | APY |
Doral Bank | D- | 500 | 1.450 |
212-584-6820 | |||
Emigrant Bank | C+ | 1000 | 1.150 |
212-850-4521 | |||
CapitalSource Bank | B+ | 10000 | 1.150 |
888-433-4272 | |||
Nationwide Bank | B+ | 10000 | 1.150 |
614-249-6226 | |||
Signature Bank | A- | 5000 | 1.110 |
646-822-1500 | |||
3 Year CD | Financial Strength Rating | Minimum to Earn Interest | APY |
First NBC Bank | B- | 10000 | 1.820 |
504-671-3550 | |||
Doral Bank | D- | 500 | 1.600 |
212-584-6820 | |||
Community Bank | C+ | 1000 | 1.400 |
800-239-9427 | |||
Emigrant Bank | C+ | 1000 | 1.400 |
212-850-4521 | |||
Intervest National Bank | C | 2500 | 1.400 |
212-218-8383 | |||
4 Year CD | Financial Strength Rating | Minimum to Earn Interest | APY |
Institution for Savings In | B | 1 | 2.000 |
978-462-3106 | |||
HarborOne Bank | U | 1 | 2.000 |
508-895-1000 | |||
Doral Bank | D- | 500 | 1.650 |
212-584-6820 | |||
Emigrant Bank | C+ | 1000 | 1.650 |
212-850-4521 | |||
EverBank | C | 1500 | 1.610 |
888-882-3837 | |||
5 Year CD | Financial Strength Rating | Minimum to Earn Interest | APY |
EverBank | C | 1500 | 2.060 |
888-882-3837 | |||
iGObanking.com | C+ | 1000 | 2.050 |
888-432-5890 | |||
Institution for Savings In | B | 1 | 2.000 |
978-462-3106 | |||
Hingham Institution for Savings | B | 500 | 2.000 |
781-749-2200 | |||
OmniAmerican Bank | C+ | 1000 | 2.000 |
817-246-0111 | |||
Financial Strength Rating: A=Excellent, B=Good, C=Fair, D=Weak, E=Very Weak, U=Unrated (new charter)
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:
Emily Schneider
TheStreet, Inc.
212-321-5521
emily.schneider@thestreet.com
Joe Deaux
TheStreet, Inc.
212-321-5086
joseph.deaux@thestreet.com
SOURCE TheStreet, Inc.
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