CD Rates Pause As 10-year Treasury Note Yield Retreats From 2013 Highs
TheStreet and RateWatch Report Top CD Rate Issuers
NEW YORK, July 23, 2013, RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today national averages generally remained unchanged at record-low levels.
Movements in CD rates have paused as the 10-year Treasury Note yield has slightly retreated from 2013 highs and after Federal Reserve Chairman Ben Bernanke offered no major surprises in his testimonies to Congress.
“With banks showing little appetite to shift CD rates in the near term, and a typically slow August approaching, the next month could remain quiet for savers seeking an increase in CD rates,” reported Joe Deaux, TheStreet’s Economist.
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 | 0.62 | 0.62 |
| 5 year CD | 0.81 | 0.81 |
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 | 0.940 |
| 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 | 0.840 |
| 877-247-2559 | |||
| www.ally.com | |||
| 1 Month CD | Financial Strength Rating | Minimum to Earn Interest ($) |
APY (%) |
| Carter Bank & Trust | C+ | 2500 | 0.500 |
| 276-632-2901 | |||
| www.carterbankandtrust.com | |||
| Beal Bank USA | B- | 1000 | 0.400 |
| 702-598-3500 | |||
| www.bealbank.com | |||
| Umbrellabank.com | C | 1000 | 0.400 |
| 866-862-7355 | |||
| www.umbrellabank.com | |||
| Beal Bank, SSB | C | 1000 | 0.400 |
| 469-467-5000 | |||
| www.bealbank.com | |||
| Merchants Bank of Indiana | A- | 1 | 0.350 |
| 317-805-4300 | |||
| www.merchantsbankofindiana.com | |||
| 3 Month CD | Financial Strength Rating | Minimum to Earn Interest ($) |
APY (%) |
| 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 | |||
| FirstBank Florida | D+ | 1000 | 0.500 |
| 305-740-9522 | |||
| www.firstbankfla.com | |||
| 6 Month CD | Financial Strength Rating | Minimum to Earn Interest ($) |
APY (%) |
| Doral Bank | D- | 500 | 1.000 |
| 212-584-6820 | |||
| www.doralbankny.com | |||
| CapitalSource Bank | B+ | 10000 | 0.800 |
| 888-433-4272 | |||
| www.capitalsourcebank.com | |||
| Beal Bank USA | B- | 1000 | 0.750 |
| 702-598-3500 | |||
| www.bealbank.com | |||
| Discover Bank | C+ | 2500 | 0.650 |
| 888-765-6654 | |||
| www.discoverbank.com | |||
| VirtualBank | B- | 10000 | 0.650 |
| 561-776-8860 | |||
| www.virtualbank.com | |||
| 1 Year CD | Financial Strength Rating | Minimum to Earn Interest ($) |
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 ($) |
APY (%) |
| Doral Bank | D- | 500 | 1.450 |
| 212-584-6820 | |||
| www.doralbankny.com | |||
| Emigrant Bank | C+ | 1000 | 1.150 |
| 212-850-4521 | |||
| www.emigrant.com | |||
| First Republic Bank | B+ | 5000 | 1.150 |
| 415-392-1400 | |||
| www.firstrepublic.com | |||
| CapitalSource Bank | B+ | 10000 | 1.150 |
| 888-433-4272 | |||
| www.capitalsourcebank.com | |||
| Nationwide Bank | B+ | 10000 | 1.150 |
| 614-249-6226 | |||
| www.nationwide.com | |||
| 3 Year CD | Financial Strength Rating | Minimum to Earn Interest ($) |
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 | |||
| Boiling Springs Savings Bank | C | 1000 | 1.500 |
| 201-939-6600 | |||
| www.bssbank.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 | |||
| 4 Year CD | Financial Strength Rating | Minimum to Earn Interest ($) |
APY (%) |
| Institution for Savings In Newburyport | B | 1 | 2.000 |
| 978-462-3106 | |||
| www.institutionforsavings.com | |||
| Boiling Springs Savings Bank | C | 1000 | 1.750 |
| 201-939-6600 | |||
| www.bssbank.com | |||
| Doral Bank | D- | 500 | 1.650 |
| 212-584-6820 | |||
| www.doralbankny.com | |||
| Emigrant Bank | C+ | 1000 | 1.650 |
| 212-850-4521 | |||
| www.emigrant.com | |||
| Intervest National Bank | C | 2500 | 1.600 |
| 212-218-8383 | |||
| www.intervestnatbank.com | |||
| 5 Year CD | Financial Strength Rating | Minimum to Earn Interest ($) |
APY (%) |
| Institution for Savings In Newburyport | B | 1 | 2.000 |
| 978-462-3106 | |||
| www.institutionforsavings.com | |||
| Hingham Institution for Savings | B | 500 | 2.000 |
| 781-749-2200 | |||
| www.hinghamsavings.com | |||
| Boiling Springs Savings Bank | C | 1000 | 2.000 |
| 201-939-6600 | |||
| www.bssbank.com | |||
| First Republic Bank | B+ | 5000 | 2.000 |
| 415-392-1400 | |||
| www.firstrepublic.com | |||
| First NBC Bank | B- | 10000 | 1.970 |
| 504-671-3550 | |||
| www.firstnbcbank.com |
Financial Strength Rating: A=Excellent, B=Good, C=Fair, D=Weak, E=Very Weak
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 RateWatchFor 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.
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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.
http://www.thestreet.com
