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.
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"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 Last week 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 - $10K
This is a list of issuers with top interest rates. The issuer's Financial Strength Rating is an independent, unbiased evaluation of quarterly regulatory statements. Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity. For more information, visit www.weissratings.com/help/what-our-ratings-mean.aspx. Information is believed to be accurate, but not guaranteed.
Money Market Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- 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 Minimum APY (%) Strength to Earn Rating Interest ($) --- --- Beal Bank USA C+ 1000 0.400 --- ---- ----- 702-598-3500 www.bealbank.com ---------------- Umbrellabank.com C- 1000 0.400 --- ---- ----- 866-862-7355 www.umbrellabank.com -------------------- Beal Bank, SSB C- 1000 0.400 --- ---- ----- 619-894-8066 www.bealbank.com ---------------- Carter Bank & Trust C+ 2500 0.400 --- ---- ----- 276-632-2901 www.carterbankandtrust.com -------------------------- Merchants Bank of Indiana B+ 1 0.350 --- --- ----- 765-874-2511 www.merchantsbankofindiana.com ------------------------------ 3 Month CD Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- 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 ($) --- --- Doral Bank D- 500 1.000 --- --- ----- 212-584-6820 www.doralbankny.com ------------------- Beal Bank USA C+ 1000 0.750 --- ---- ----- 702-598-3500 www.bealbank.com ---------------- GE Capital Bank A 500 0.700 --- --- ----- 801-517-5000 www.gecapitalbank.com --------------------- National Republic Bank of Chicago E+ 1000 0.700 --- ---- ----- 312-738-4900 www.nrbchicago.com ------------------ Colorado Federal Savings Bank B- 5000 0.700 --- ---- ----- 877-484-2372 www.coloradofederalbank.com --------------------------- 1 Year CD Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- 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 Minimum APY (%) Strength to Earn Rating Interest ($) --- --- Doral Bank D- 500 1.500 --- --- ----- 212-584-6820 www.doralbankny.com ------------------- EverBank B- 1500 1.260 --- ---- ----- 888-882-3837 www.everbank.com ---------------- VirtualBank B 10000 1.260 --- ----- ----- 561-776-8860 www.virtualbank.com ------------------- Salem Five Direct B 10000 1.250 --- ----- ----- 800-850-5000 www.salemfivedirect.com ----------------------- GE Capital Bank A 500 1.200 --- --- ----- 801-517-5000 www.gecapitalbank.com --------------------- 3 Year CD Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- 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 Minimum APY (%) Strength to Earn Rating Interest ($) --- --- Institution for Savings In Newburyport B 1 2.000 --- --- ----- 978-462-3106 www.institutionforsavings.com ----------------------------- First Republic Bank B+ 10000 2.000 --- ----- ----- 415-392-1400 www.firstrepublic.com --------------------- EverBank B- 1500 1.790 --- ---- ----- 888-882-3837 www.everbank.com ---------------- Nationwide Bank B 10000 1.790 --- ----- ----- 877-422-6569 www.nationwide.com ------------------ VirtualBank B 10000 1.790 --- ----- ----- 561-776-8860 www.virtualbank.com ------------------- 5 Year CD Financial Minimum APY (%) Strength to Earn Rating Interest ($) --- --- 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.
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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.
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