THESTREET, INC. 
By NEW YORK, Jan. 15, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that interest rates for savings products generally decreased over the previous week with the average national rate on a 2-year, 3-year, 4-year, and 5-year CD decreasing by 0.01 percent based on data collected from over 90,000 financial institution locations.
Bank deposit rates have been range-bound at historically low levels because the Federal Reserve has kept its target range for the short-term federal funds rate in a range of zero to 0.25% since late 2008. While the Federal Deposit Insurance Corp's Transaction Account Guarantee Program -- which provided unlimited insurance coverage for non-interest bearing transaction accounts -- has ended, banks are flush with liquidity, making it unlikely that there will be significant competition for deposits over the short term.
It appears that depositors may have to wait a bit longer for interest rates to begin to rise, but for the banking industry, the yield curve has been improving. Long-term U.S. Treasury securities were trading at a yield of 1.81% Tuesday morning, with yields as high as 1.91% on Jan. 3, rising from a range of 1.60% only a month earlier. During this painful economic cycle, U.S. Treasury yields briefly went as low as 1.38% in July.
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NATIONAL AVERAGE RESULTS - $10K
This Last
week week
---- ----
Money Market 0.12 0.12
------------ ---- ----
1 month CD 0.06 0.06
---------- ---- ----
3 month CD 0.10 0.10
---------- ---- ----
6 month CD 0.17 0.17
---------- ---- ----
1 year CD 0.26 0.26
--------- ---- ----
2 year CD 0.41 0.42
--------- ---- ----
3 year CD 0.55 0.56
--------- ---- ----
4 year CD 0.68 0.69
--------- ---- ----
5 year CD 0.88 0.89
--------- ---- ----
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, visitwww.weissratings.com/help/what-our-ratings-mean.aspx. Information is believed to be accurate, but not guaranteed.
Money Market Financial Minimum APY
Strength to Earn
Rating Interest
--- ------ --------
Sallie Mae Bank A- 1 1.050
--- --- -----
801-281-1423
www.salliemaebank.com
---------------------
Green Bank, National Association C+ 500 1.000
--- --- -----
713-275-8370
www.greenbank.com
-----------------
Ally Bank B+ 1 0.950
--- --- -----
877-247-2559
www.ally.com
------------
1 Month CD Financial Minimum APY
Strength to Earn
Rating Interest
--- ------ --------
First NBC Bank B- 1000 0.510
--- ---- -----
504-671-3550
www.firstnbcbank.com
--------------------
Pinnacle Bank B- 500 0.500
--- --- -----
402-529-3581
www.pinnbank.com
----------------
Carter Bank & Trust C+ 2500 0.500
--- ---- -----
828-325-9800
www.carterbankandtrust.com
--------------------------
3 Month CD Financial Minimum APY
Strength to Earn
Rating Interest
--- ------ --------
Eloan.com C- 10000 0.650
--- ----- -----
888-533-5333
www.eloan.com
-------------
EverBank D+ 1500 0.610
--- ---- -----
888-882-3837
www.everbank.com
----------------
Beal Bank, SSB C 1000 0.511
--- ---- -----
205-202-8511
www.bealbank.com
----------------
6 Month CD Financial Minimum APY
Strength to Earn
Rating Interest
--- ------ --------
Carter Bank & Trust C+ 2500 1.000
--- ---- -----
910-630-2500
www.carterbankandtrust.com
--------------------------
Doral Bank E+ 1000 0.900
--- ---- -----
212-329-3700
www.doralbankdirect.com
-----------------------
Beal Bank USA B- 1000 0.750
--- ---- -----
702-598-3500
www.bealbankusa.com
-------------------
1 Year CD Financial Minimum APY
Strength to Earn
Rating Interest
--- ------ --------
Beal Bank USA B- 1000 1.110
--- ---- -----
786-347-3601
www.bealbankusa.com
-------------------
Sallie Mae Bank A- 1 1.050
--- --- -----
801-281-1423
www.salliemaebank.com
---------------------
Doral Bank E+ 500 1.050
--- --- -----
850-914-2525
www.doralbankflorida.com
------------------------
2 Year CD Financial Minimum APY
Strength to Earn
Rating Interest
--- ------ --------
Doral Bank E+ 500 1.300
--- --- -----
850-914-2525
www.doralbankflorida.com
------------------------
FirstBank Florida D+ 1000 1.250
--- ---- -----
305-740-9522
www.firstbankfla.com
--------------------
Compass Bank D+ 5000 1.250
--- ---- -----
205-297-1986
www.bbvacompass.com
-------------------
3 Year CD Financial Minimum APY
Strength to Earn
Rating Interest
--- ------ --------
First NBC Bank B- 10000 1.970
--- ----- -----
504-671-3550
www.firstnbcbank.com
--------------------
First Guaranty Bank C 500 1.450
--- --- -----
985-345-7685
www.fgb.net
-----------
Doral Bank E+ 500 1.450
--- --- -----
850-914-2525
www.doralbankflorida.com
------------------------
4 Year CD Financial Minimum APY
Strength to Earn
Rating Interest
--- ------ --------
Institution for Savings In Newburyport B 1 1.750
--- --- -----
978-462-3106
www.institutionforsavings.com
-----------------------------
First Guaranty Bank C 500 1.700
--- --- -----
985-345-7685
www.fgb.net
-----------
Green Bank, National Association C+ 1000 1.700
--- ---- -----
713-275-8370
www.greenbank.com
-----------------
5 Year CD Financial Minimum APY
Strength to Earn
Rating Interest
--- ------ --------
First NBC Bank B- 10000 2.120
--- ----- -----
504-671-3550
www.firstnbcbank.com
--------------------
Carter Bank & Trust C+ 100 2.020
--- --- -----
828-325-9800
www.carterbankandtrust.com
--------------------------
Institution for Savings In Newburyport B 1 2.000
--- --- -----
978-462-3106
www.institutionforsavings.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
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Contact:
Erin Corcoran
TheStreet, Inc.
212-321-5566
erin.corcoran@thestreet.com
SOURCE TheStreet
