NEW YORK, March 25, 2014 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages for two-year CD rates decreased by one basis point, while all other durations remained unchanged this week 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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"Two-year CD rates have witnessed the only fluctuation in the past three weeks. This is telling as Fed Chairwoman Janet Yellen last week told market observers that the central bank could begin to raise interest rates as soon as six months after the end of tapering," reported Joe Deaux, TheStreet's Economics Analyst. "Yellen's key comment coupled with the majority of policy makers forecasting the federal funds rate to reach 1% by 2015 means savers may have just received their biggest signal that rising CD rates, especially for longer durations, are at hand."
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 0.56 --------- ---- ---- 3 year CD 0.75 0.75 --------- ---- ---- 4 year CD 0.92 0.92 --------- ---- ---- 5 year CD 1.13 1.13 --------- ---- ----
* 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 - $10K
This is a list of issuers with top interest rates. The issuer's Financial Strength Rating is an independent, unbiased evaluation of quarterly regulatory statements. Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity. For more information, visitwww.weissratings.com/help/what-our-ratings-mean.aspx. Information is believed to be accurate, but not guaranteed.
Money Market Financial Minimum APY Strength to Earn (%) Rating Interest ($) --- --- 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 --------------------- Mercantil Commercebank, National Association C 10000 0.900 --- ----- ----- 305-460-8701 www.mercantilcb.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 ($) --- --- Doral Bank D- 500 1.000 --- --- ----- 850-447-3000 www.doralbankflorida.com ------------------------ Beal Bank USA C+ 1000 0.750 --- ---- ----- 702-598-3500 www.bealbank.com ---------------- GE Capital Bank A 500 0.700 --- --- ----- 801-517-5000 www.gecapitalbank.com --------------------- Colorado Federal Savings Bank B- 5000 0.700 --- ---- ----- 877-484-2372 www.coloradofederalbank.com --------------------------- Discover Bank C 500 0.650 --- --- ----- 888-765-6654 www.discoverbank.com -------------------- 1 Year CD Financial Minimum APY Strength to Earn (%) Rating Interest ($) --- --- 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 ---------------- GE Capital Bank A 500 1.050 --- --- ----- 801-517-5000 www.gecapitalbank.com --------------------- CIT Bank B+ 1000 1.020 --- ---- ----- 801-412-6800 www.bankoncit.com ----------------- VirtualBank B 10000 1.010 --- ----- ----- 561-776-8860 www.virtualbank.com ------------------- 2 Year CD Financial Minimum APY Strength to Earn (%) Rating Interest ($) --- --- Doral Bank D- 500 1.450 --- --- ----- 212-584-6820 www.doralbankny.com ------------------- CIT Bank B+ 1000 1.170 --- ---- ----- 801-412-6800 www.bankoncit.com ----------------- Barclays Bank Delaware C+ 1 1.150 --- --- ----- 888-710-8756 www.banking.barclaysus.com -------------------------- GE Capital Bank A 500 1.150 --- --- ----- 801-517-5000 www.gecapitalbank.com --------------------- Guaranty Bond Bank, National Association B+ 1000 1.150 --- ---- ----- 903-572-9881 www.gnty.com ------------ 3 Year CD Financial Minimum APY Strength to Earn (%) Rating Interest ($) --- --- Northern Bank & Trust Company B- 500 1.600 --- --- ----- 781-937-5423 www.nbtc.com ------------ Doral Bank D- 500 1.600 --- --- ----- 212-584-6820 www.doralbankny.com ------------------- Oritani Savings Bank B+ 1000 1.500 --- ---- ----- 201-664-5400 www.oritani.com --------------- Intervest National Bank C 2500 1.450 --- ---- ----- 212-218-8383 www.intervestnatbank.com ------------------------ Community Bank C- 1000 1.400 --- ---- ----- 800-239-9427 www.dodcommunitybank.com ------------------------ 4 Year CD Financial Minimum APY Strength to Earn (%) Rating Interest ($) --- --- Institution for Savings In Newburyport B 1 2.000 --- --- ----- 978-462-3106 www.institutionforsavings.com ----------------------------- Oritani Savings Bank B+ 1000 1.750 --- ---- ----- 201-664-5400 www.oritani.com --------------- GE Capital Retail Bank C+ 2000 1.700 --- ---- ----- 866-869-4671 www.gecrb.com ------------- Nationwide Bank B 10000 1.670 --- ----- ----- 877-422-6569 www.nationwide.com ------------------ Barclays Bank Delaware C+ 1 1.650 --- --- ----- 888-710-8756 www.banking.barclaysus.com -------------------------- 5 Year CD Financial Minimum APY Strength to Earn (%) Rating Interest ($) --- --- GE Capital Retail Bank C+ 2000 2.200 --- ---- ----- 866-869-4671 www.gecrb.com ------------- Barclays Bank Delaware C+ 1 2.150 --- --- ----- 888-710-8756 www.banking.barclaysus.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 -------------------- Dime Savings Bank of Williamsburgh B- 500 2.100 --- --- ----- 718-782-6200 www.dsbwdirect.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.
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.
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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
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