Investors Should Remain Patient with CDs as Fed Maintains Low Fund Rates

TheStreet and RateWatch Report Top National & Regional CD Rate Issuers

PR Newswire

NEW YORK, Aug. 13, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (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
week

Last
week

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
week

Last
week

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
week

Last
week

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
week

Last
week

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
week

Last
week

Money Market

0.12

0.12

1 month CD

0.06

0.06

3 month CD

0.10

0.10

6 month CD

0.14

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 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

Doral Bank

D-

5000

0.950

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 Strength Rating

Minimum to Earn Interest
($)

APY
(%)

Pacific Trust Bank, FSB

C+

1

0.800

877-441-2265

www.pacifictrustbank.com

Carter Bank & Trust

C+

2500

0.500

276-632-2901

www.carterbankandtrust.com

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

469-467-5000

www.bealbank.com

3 Month CD

Financial Strength Rating

Minimum to Earn Interest
($)

APY
(%)

Pacific Trust Bank, FSB

C+

1

0.800

877-441-2265

www.pacifictrustbank.com

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                                                                                                        

6 Month CD

Financial Strength Rating

Minimum to Earn Interest
($)

APY
(%)

Doral Bank

D-

500

1.000

212-584-6820

www.doralbankny.com

Pacific Trust Bank, FSB

C+

1

0.800

877-441-2265

www.pacifictrustbank.com

CapitalSource Bank

B+

10000

0.800

888-433-4272

www.capitalsourcebank.com

Beal Bank USA

B-

1000

0.750

702-598-3500

www.bealbank.com

Discover Bank

C+

2500

0.650

888-765-6654

www.discoverbank.com                                                                                                            

1 Year CD

Financial Strength Rating

Minimum to Earn Interest
($)

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

CapitalSource Bank

B+

10000

1.010

888-433-4272

www.capitalsourcebank.com

Nationwide Bank

B+

10000

0.960

614-249-6226

www.nationwide.com

Ally Bank

B+

1

0.940

877-247-2559

www.ally.com

2 Year CD

Financial Strength Rating

Minimum to Earn Interest
($)

APY
(%)

Doral Bank

D-

500

1.450

212-584-6820

www.doralbankny.com

Emigrant Bank

C+

1000

1.150

212-850-4521

www.emigrant.com

CapitalSource Bank

B+

10000

1.150

888-433-4272

www.capitalsourcebank.com

Nationwide Bank

B+

10000

1.150

614-249-6226

www.nationwide.com

Signature Bank

A-

5000

1.110

646-822-1500

www.signatureny.com   

3 Year CD

Financial Strength Rating

Minimum to Earn Interest
($)

APY
(%)

First NBC Bank

B-

10000

1.820

504-671-3550

www.firstnbcbank.com

Doral Bank

D-

500

1.600

212-584-6820

www.doralbankny.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

Intervest National Bank

C

2500

1.400

212-218-8383

www.intervestnatbank.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

HarborOne Bank

U

1

2.000

508-895-1000

www.harboronecu.com

Doral Bank

D-

500

1.650

212-584-6820

www.doralbankny.com

Emigrant Bank

C+

1000

1.650

212-850-4521

www.emigrant.com

EverBank

C

1500

1.610

888-882-3837

www.everbank.com   

5 Year CD

Financial Strength Rating

Minimum to Earn Interest
($)

APY
(%)

EverBank

C

1500

2.060

888-882-3837

www.everbank.com

iGObanking.com

C+

1000

2.050

888-432-5890

www.igobanking.com

Institution for Savings In
Newburyport

B

1

2.000

978-462-3106

www.institutionforsavings.com

Hingham Institution for Savings

B

500

2.000

781-749-2200

www.hinghamsavings.com

OmniAmerican Bank

C+

1000

2.000

817-246-0111

www.omniamerican.com                                                                                                            

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

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