Banks Do Not Budge On Rate Changes For Seventh Straight Week - WSET.com - ABC13

Banks Do Not Budge On Rate Changes For Seventh Straight Week

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE TheStreet, Inc.

TheStreet and RateWatch Report Top National & Regional CD Rate Issuer

NEW YORK, June 3, 2014 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages this week for CD rates of all 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.

TheStreet Logo

"For the seventh-straight week national averages of CD rates remained unchanged. Banks aren't budging on significant rate changes for savers seeking a place to park their cash," reported Joe Deaux, Economics Analyst for TheStreet. "Fed Chairman Janet Yellen addresses the press in two weeks, when investors should listen for any new language about when the central bank will raise the benchmark interest rate."

NATIONAL AVERAGE RESULTS - $10K


This

week

Last

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

1.14

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

Strength

Rating

Minimum

to Earn

Interest
($)

APY
(%)

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

B+

1

0.850

877-247-2559

www.ally.com

1 Month CD

Financial

Strength

Rating

Minimum

to Earn

Interest
($)

APY
(%)

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

Strength

Rating

Minimum

To Earn

Interest
($)

APY
(%)

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

Strength

Rating

Minimum

to Earn

Interest
($)

APY
(%)

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

D-

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

Strength

Rating

Minimum

to Earn

Interest
($)

APY
(%)

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

1.100

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

Strength

Rating

Minimum

to Earn

Interest
($)

APY
(%)

Institution for Savings In Newburyport

B

1

2.000

978-462-3106

www.institutionforsavings.com

Doral Bank

D-

500

1.500

212-584-6820

www.doralbankny.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

Strength

Rating

Minimum

to Earn

Interest
($)

APY
(%)

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

Sallie Mae Bank

A-

2500

1.450

877-346-2756

www.salliemaebank.com

Intervest National Bank

C

2500

1.450

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

Nationwide Bank

B

10000

1.790

877-422-6569

www.nationwide.com

VirtualBank

B

10000

1.790

561-776-8860

www.virtualbank.com

EverBank

B-

1500

1.780

888-882-3837

www.everbank.com

Northern Bank & Trust Company

B-

500

1.750

781-937-5423

www.nbtc.com

5 Year CD

Financial

Strength

Rating

Minimum

to Earn

Interest
($)

APY
(%)

VirtualBank

B

10000

2.280

561-776-8860

www.virtualbank.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

GE Capital Retail Bank

C+

2000

2.250

866-869-4671

www.gecrb.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.

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.

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 Scheer
TheStreet, Inc.
212-321-5521
emily.scheer@thestreet.com

TheStreet and RateWatch Report Top CD Rate Issuers

Logo - http://photos.prnewswire.com/prnh/20140603/93856

Logo - http://photos.prnewswire.com/prnh/20130219/NY62571LOGO

©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WSET. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.