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22.10.2013 19:58:00
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Months Of Weak Jobs Reports Means Bad News For Savers
NEW YORK, Oct. 22, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages for 3-year CD rates slightly gained this week as CDs generally remained unchanged at record-low levels.
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"We've seen a one basis point fluctuation in national 3-year CD rates for the last four weeks, and little change in other CD terms," reported Joe Deaux, TheStreet's Economics Analyst. "Multiple months of weaker jobs reports have led the Fed to refrain from scaling back its monthly economic stimulus program. The decision to not 'taper' pushes back the stage at which the central bank will begin to raise the federal funds rate. For savers, this suggests banks won't be boosting CD rates significantly in the near term."
NATIONAL AVERAGE RESULTS - $10K
This | Last | |
Money Market | 0.10 | 0.10 |
1 month CD | 0.06 | 0.06 |
3 month CD | 0.09 | 0.09 |
6 month CD | 0.14 | 0.14 |
1 year CD | 0.23 | 0.23 |
2 year CD | 0.37 | 0.37 |
3 year CD | 0.51 | 0.50 |
4 year CD | 0.63 | 0.63 |
5 year CD | 0.82 | 0.82 |
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 | Minimum | APY |
First NBC Bank | B- | 10000 | 1.260 |
504-671-3550 | |||
www.firstnbcbank.com | |||
Doral Bank | D- | 5000 | 0.940 |
212-584-6820 | |||
www.doralbankny.com | |||
Sallie Mae Bank | A- | 1 | 0.900 |
801-281-1423 | |||
www.salliemaebank.com | |||
Mercantil Commercebank, National Association | C | 10000 | 0.900 |
305-460-8701 | |||
www.mercantilcb.com | |||
Ally Bank | B+ | 1 | 0.840 |
877-247-2559 | |||
www.ally.com | |||
1 Month CD
| Financial | Minimum | APY |
Beal Bank USA | B- | 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 |
317-805-4300 | |||
www.merchantsbankofindiana.com | |||
Pinnacle Bank | B | 500 | 0.350 |
402-454-6515 | |||
www.pinnbank.com | |||
3 Month CD
| Financial | Minimum | APY |
Beal Bank USA | B- | 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 | 1.000 |
212-584-6820 | |||
www.doralbankny.com | |||
Beal Bank USA | B- | 1000 | 0.750 |
702-598-3500 | |||
www.bealbank.com | |||
GE Capital Bank | A | 500 | 0.650 |
801-517-5000 | |||
www.gecapitalbank.com | |||
Discover Bank | C+ | 500 | 0.650 |
888-765-6654 | |||
www.discoverbank.com | |||
VirtualBank | B- | 10000 | 0.650 |
561-776-8860 | |||
www.virtualbank.com | |||
1 Year CD
| Financial | Minimum | APY |
Doral Bank | D- | 500 | 1.200 |
212-584-6820 | |||
www.doralbankny.com | |||
Beal Bank USA | B- | 1000 | 1.110 |
786-347-3601 | |||
www.bealbank.com | |||
Eloan.com | C- | 10000 | 1.100 |
888-533-5333 | |||
www.eloan.com | |||
GE Capital Bank | A | 500 | 1.050 |
801-517-5000 | |||
www.gecapitalbank.com | |||
Nationwide Bank | B+ | 10000 | 1.010 |
614-249-6226 | |||
www.nationwide.com | |||
2 Year CD
| Financial | Minimum | APY |
Doral Bank | D- | 500 | 1.450 |
212-584-6820 | |||
www.doralbankny.com | |||
Flushing Commercial Bank | C+ | 5000 | 1.200 |
718-512-2929 | |||
www.flushingbank.com | |||
Nationwide Bank | B+ | 10000 | 1.200 |
614-249-6226 | |||
www.nationwide.com | |||
GE Capital Bank | A | 500 | 1.150 |
801-517-5000 | |||
www.gecapitalbank.com | |||
Guaranty Bond Bank, National Association | B+ | 1000 | 1.150 |
903-572-9881 | |||
www.gnty.com | |||
3 Year CD
| Financial | Minimum | APY |
Doral Bank | D- | 500 | 1.600 |
212-584-6820 | |||
www.doralbankny.com | |||
Salem Five Direct | B- | 10000 | 1.500 |
800-850-5000 | |||
www.salemfivedirect.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 | |||
Emigrant Bank | C+ | 1000 | 1.400 |
212-850-4521 | |||
www.emigrant.com | |||
4 Year CD
| Financial | Minimum | APY |
Institution for Savings In Newburyport | B | 1 | 2.000 |
978-462-3106 | |||
www.institutionforsavings.com | |||
HarborOne Bank | U | 1 | 2.000 |
508-895-1000 | |||
www.harborone.com | |||
Nationwide Bank | B+ | 10000 | 1.670 |
614-249-6226 | |||
www.nationwide.com | |||
Doral Bank | D- | 500 | 1.650 |
212-584-6820 | |||
www.doralbankny.com | |||
iGObanking.com | C+ | 1000 | 1.650 |
888-432-5890 | |||
www.igobanking.com | |||
5 Year CD
| Financial | Minimum | APY |
Charles Schwab | U | 1000 | 2.100 |
800-435-4000 | |||
www.schwabbank.com | |||
EverBank | C | 1500 | 2.010 |
888-882-3837 | |||
www.everbank.com | |||
Institution for Savings In Newburyport | B | 1 | 2.000 |
978-462-3106 | |||
www.institutionforsavings.com | |||
Compass Bank | C | 1 | 2.000 |
205-297-1986 | |||
www.bbvacompass.com | |||
GE Capital Bank | A | 500 | 2.000 |
801-517-5000 | |||
www.gecapitalbank.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 96,000 financial institution locations across the United States.
About RateWatchFor 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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