NEW YORK, Jan. 7, 2014 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages for 5-year CD rates decreased one basis point this week, while other durations remained unchanged as 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 5-year CD rate has fluctuated the most since the Fed announced it would begin to scale back its economic stimulus program. Savers should expect longer duration CD rates to move as it shows that the market expects interest rates to begin to rise in the next few years," reported Joe Deaux, TheStreet's Economics Analyst. "Investors wondering why we haven't seen an immediate jump in CDs should know such a catalyst won't occur until the Fed signals that it will begin to raise rates, which may not occur until 2015."
NATIONAL AVERAGE RESULTS - $10K
This Last week week ---- ---- 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 0.51 --------- ---- ---- 4 year CD 0.63 0.63 --------- ---- ---- 5 year CD 0.81 0.82 --------- ---- ----
TOP RATE ISSUERS - $10K
This is a list of issuers with top interest rates. The issuer's Financial Strength Rating is an independent, unbiased evaluation of quarterly regulatory statements. Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity. For more information, visit www.weissratings.com/help/what-our-ratings-mean.aspx. Information is believed to be accurate, but not guaranteed.
Money Market Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- 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 0.850 --- --- ----- 877-247-2559 www.ally.com ------------ 1 Month CD Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- Beal Bank USA C+ 1000 0.400 --- ---- ----- 702-598-3500 www.bealbank.com ---------------- Umbrellabank.com C- 1000 0.400 --- ---- ----- 866-862-7355 www.umbrellabank.com -------------------- Beal Bank, SSB C- 1000 0.400 --- ---- ----- 619-894-8066 www.bealbank.com ---------------- Merchants Bank of Indiana A- 1 0.350 --- --- ----- 765-874-2511 www.merchantsbankofindiana.com ------------------------------ Pinnacle Bank B+ 500 0.350 --- --- ----- 402-454-6515 www.pinnbank.com ---------------- 3 Month CD Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- 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 Minimum APY (%) Strength to Earn Rating Interest ($) --- --- Doral Bank D- 500 1.000 --- --- ----- 212-584-6820 www.doralbankny.com ------------------- Beal Bank USA C+ 1000 0.750 --- ---- ----- 702-598-3500 www.bealbank.com ---------------- GE Capital Bank A 500 0.700 --- --- ----- 801-517-5000 www.gecapitalbank.com --------------------- Discover Bank C 500 0.650 --- --- ----- 888-765-6654 www.discoverbank.com -------------------- VirtualBank B- 10000 0.650 --- ----- ----- 561-776-8860 www.virtualbank.com ------------------- 1 Year CD Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- Doral Bank D- 500 1.200 --- --- ----- 212-584-6820 www.doralbankny.com ------------------- Beal Bank USA C+ 1000 1.110 --- ---- ----- 786-347-3601 www.bealbank.com ---------------- CIT Bank B+ 1000 1.020 --- ---- ----- 801-412-6800 www.bankoncit.com ----------------- GE Capital Bank A 500 1.000 --- --- ----- 801-517-5000 www.gecapitalbank.com --------------------- Nationwide Bank B 10000 0.960 --- ----- ----- 614-249-6226 www.nationwide.com ------------------ 2 Year CD Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- Doral Bank D- 500 1.450 --- --- ----- 212-584-6820 www.doralbankny.com ------------------- CIT Bank B+ 1000 1.170 --- ---- ----- 801-412-6800 www.bankoncit.com ----------------- GE Capital Bank A 500 1.150 --- --- ----- 801-517-5000 www.gecapitalbank.com --------------------- Guaranty Bond Bank, National Association B+ 1000 1.150 --- ---- ----- 903-572-9881 www.gnty.com ------------ Emigrant Bank C- 1000 1.150 --- ---- ----- 212-850-4521 www.emigrant.com ---------------- 3 Year CD Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- Northern Bank & Trust Company C+ 500 1.600 --- --- ----- 781-937-5423 www.nbtc.com ------------ Doral Bank D- 500 1.600 --- --- ----- 212-584-6820 www.doralbankny.com ------------------- Intervest National Bank C- 2500 1.450 --- ---- ----- 212-218-8383 www.intervestnatbank.com ------------------------ Boiling Springs Savings Bank C+ 1000 1.400 --- ---- ----- 201-939-6600 www.bssbank.com --------------- Community Bank C- 1000 1.400 --- ---- ----- 800-239-9427 www.dodcommunitybank.com ------------------------ 4 Year CD Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- Institution for Savings In Newburyport B 1 2.000 --- --- ----- 978-462-3106 www.institutionforsavings.com ----------------------------- HarborOne Bank U 1 2.000 --- --- ----- 508-895-1000 www.harborone.com ----------------- EverBank C+ 1500 1.680 --- ---- ----- 888-882-3837 www.everbank.com ---------------- Nationwide Bank B 10000 1.670 --- ----- ----- 614-249-6226 www.nationwide.com ------------------ Doral Bank D- 500 1.650 --- --- ----- 212-584-6820 www.doralbankny.com ------------------- 5 Year CD Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- EverBank C+ 1500 2.160 --- ---- ----- 888-882-3837 www.everbank.com ---------------- iGObanking.com C+ 1000 2.150 --- ---- ----- 888-432-5890 www.igobanking.com ------------------ Flushing Commercial Bank C+ 5000 2.150 --- ---- ----- 718-512-2929 www.flushingbank.com -------------------- VirtualBank B- 10000 2.020 --- ----- ----- 561-776-8860 www.virtualbank.com ------------------- GE Capital Bank A 500 2.010 --- --- ----- 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.
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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.