NEW YORK, July 1, 2014 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages this week for 5-year CD rates rose while all other 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 held steady for more than two months, but recent comments from Fed officials suggest that the central bank will begin to raise the benchmark interest rate in the first half of 2015," reported Joe Deaux, Economics Analyst at TheStreet. "More than five years removed from the 2008 financial crisis, savers are still dealing with historically low CD rates. But the possibility of faster-than-anticipated rising inflation and the near-end to economic stimulus means rates could be going up soon. This is good news for savers looking to park their cash in the intermediate future."
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 |
1.15 |
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 Strength Rating |
Minimum to Earn Interest |
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 |
|||
Doral Bank |
D- |
1 |
0.940 |
212-584-6820 |
|||
www.doralbankny.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 |
|||
1 Month CD |
Financial Strength Rating |
Minimum to Earn Interest |
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 Strength Rating |
Minimum to Earn Interest |
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 Strength Rating |
Minimum to Earn Interest |
APY |
Doral Bank |
D- |
500 |
1.000 |
212-584-6820 |
|||
www.doralbankny.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 Strength Rating |
Minimum to Earn Interest |
APY |
Doral Bank |
D- |
500 |
1.250 |
212-584-6820 |
|||
www.doralbankny.com |
|||
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 |
|||
EverBank |
B- |
1500 |
1.100 |
888-882-3837 |
|||
www.everbank.com |
|||
VirtualBank |
B |
10000 |
1.070 |
561-776-8860 |
|||
www.virtualbank.com |
|||
2 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
Doral Bank |
D- |
500 |
1.500 |
212-584-6820 |
|||
www.doralbankny.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 Strength Rating |
Minimum to Earn Interest |
APY |
Doral Bank |
D- |
500 |
1.670 |
212-584-6820 |
|||
www.doralbankny.com |
|||
Northern Bank & Trust Company |
B |
500 |
1.600 |
781-937-5423 |
|||
www.nbtc.com |
|||
Oritani Savings Bank |
A- |
1000 |
1.500 |
201-664-5400 |
|||
www.oritani.com |
|||
First Republic Bank |
B+ |
10000 |
1.500 |
415-392-1400 |
|||
www.firstrepublic.com |
|||
EverBank |
B- |
1500 |
1.450 |
888-882-3837 |
|||
www.everbank.com |
|||
4 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
APY |
Institution for Savings In Newburyport |
B |
1 |
2.000 |
978-462-3106 |
|||
www.institutionforsavings.com |
|||
First Republic Bank |
B+ |
10000 |
2.000 |
415-392-1400 |
|||
www.firstrepublic.com |
|||
EverBank |
B- |
1500 |
1.790 |
888-882-3837 |
|||
www.everbank.com |
|||
Nationwide Bank |
B |
10000 |
1.790 |
877-422-6569 |
|||
www.nationwide.com |
|||
VirtualBank |
B |
10000 |
1.790 |
561-776-8860 |
|||
www.virtualbank.com |
|||
5 Year CD |
Financial Strength Rating |
Minimum to Earn Interest |
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]
Logo - http://photos.prnewswire.com/prnh/20140603/93856
Logo - http://photos.prnewswire.com/prnh/20130219/NY62571LOGO
SOURCE TheStreet, Inc.
Share this article