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Bank Deposit Rates Remain at Historically Low Levels



             Bank Deposit Rates Remain at Historically Low Levels

TheStreet and RateWatch Report Top CD Rate Issuers

PR Newswire

NEW YORK, Jan. 22, 2013

NEW YORK, Jan. 22, 2013 /PRNewswire/ -- RateWatch, a premier banking data and
analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that
the interest rate on a 6 month CD decreased 0.01 percent over the previous
week based on data collected from over 90,000 financial institution locations.

(Logo: http://photos.prnewswire.com/prnh/20130102/NY35868LOGO-b )

Bank deposits rates remain at historically low levels, as the Federal Reserve
has kept its target range for the short-term federal funds rate in a range of
zero to 0.25% since late 2008.  The Federal Reserve Open Market Committee in
December said that it expected this target range to remain  "appropriate at
least as long as the unemployment rate remains above 6-1/2 percent," and as
long as inflation projections remain within 0.5% of the central bank's
long-term goal of 2%.

Fourth-quarter earnings reports from money center banks and large regional
banks show that the multiyear inflow of non-interest bearing deposits has
continued, providing plenty of excess liquidity and making significant rate
competition unlikely until the overall economy heats up further.  Longer-term
CD rates have continued to decline, with the national average five-year CD
rate declining by five basis points over the past two months, while the
average four-year CD rate has declined by four basis points, and the average
three-year CD rate has declined by three basis points.

 

NATIONAL AVERAGE RESULTS - $10K

             This Last
             week week
Money Market 0.12 0.12
1 month CD   0.06 0.06
3 month CD   0.10 0.10
6 month CD   0.16 0.17
1 year CD    0.26 0.26
2 year CD    0.41 0.41
3 year CD    0.55 0.55
4 year CD    0.68 0.68
5 year CD    0.88 0.88

 

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.

                                       Financial Minimum
Money Market                           Strength  to Earn  APY
                                       Rating    Interest
Sallie Mae Bank
801-281-1423                           A-        1        1.050
www.salliemaebank.com
Green Bank, National Association
713-275-8370                           C+        500      1.000
www.greenbank.com
Ally Bank
877-247-2559                           B+        1        0.950
www.ally.com
                                       Financial Minimum
1 Month CD                             Strength  to Earn  APY
                                       Rating    Interest
First NBC Bank
504-671-3550                           B-        1000     0.510
www.firstnbcbank.com
Pinnacle Bank
402-529-3581                           B-        500      0.500
www.pinnbank.com
Carter Bank & Trust
828-325-9800                           C+        2500     0.500
www.carterbankandtrust.com
                                       Financial Minimum
3 Month CD                             Strength  to Earn  APY
                                       Rating    Interest
Eloan.com
888-533-5333                           C-        10000    0.650
www.eloan.com
EverBank
888-882-3837                           D+        1500     0.600
www.everbank.com
Beal Bank, SSB
205-202-8511                           C         1000     0.511
www.bealbank.com
                                       Financial Minimum
6 Month CD                             Strength  to Earn  APY
                                       Rating    Interest
Doral Bank
212-329-3700                           E+        1000     0.900
www.doralbankdirect.com
Beal Bank USA
702-598-3500                           B-        1000     0.750
www.bealbankusa.com
Discover Bank
888-765-6654                           C+        2500     0.750
www.discoverbank.com
                                       Financial Minimum
1 Year CD                              Strength  to Earn  APY
                                       Rating    Interest
Beal Bank USA
786-347-3601                           B-        1000     1.110
www.bealbankusa.com
Sallie Mae Bank
801-281-1423                           A-        1        1.050
www.salliemaebank.com
Doral Bank
850-914-2525                           E+        500      1.050
www.doralbankflorida.com
                                       Financial Minimum
2 Year CD                              Strength  to Earn  APY
                                       Rating    Interest
Doral Bank
850-914-2525                           E+        500      1.300
www.doralbankflorida.com
FirstBank Florida
305-740-9522                           D+        1000     1.250
www.firstbankfla.com
Compass Bank
205-297-1986                           D+        5000     1.250
www.bbvacompass.com
                                       Financial Minimum
3 Year CD                              Strength  to Earn  APY
                                       Rating    Interest
First NBC Bank
504-671-3550                           B-        10000    1.970
www.firstnbcbank.com
First Guaranty Bank
985-345-7685                           C         500      1.450
www.fgb.net
Doral Bank
850-914-2525                           E+        500      1.450
www.doralbankflorida.com
                                       Financial Minimum
4 Year CD                              Strength  to Earn  APY
                                       Rating    Interest
Institution for Savings In Newburyport
978-462-3106                           B         1        1.750
www.institutionforsavings.com
First Guaranty Bank
985-345-7685                           C         500      1.700
www.fgb.net
Green Bank, National Association
713-275-8370                           C+        1000     1.700
www.greenbank.com
                                       Financial Minimum
5 Year CD                              Strength  to Earn  APY
                                       Rating    Interest
First NBC Bank
504-671-3550                           B-        10000    2.120
www.firstnbcbank.com
Carter Bank & Trust
828-325-9800                           C+        100      2.020
www.carterbankandtrust.com
Institution for Savings In Newburyport
978-462-3106                           B         1        2.000
www.institutionforsavings.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 90,000 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 90,000 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. is a leading digital financial media company that distributes
its content through online, social media, tablet and mobile channels. The
Company's network of brands includes: TheStreet, RealMoney, RealMoney Pro,
Stockpickr, Action Alerts PLUS, Options Profits, Chat on TheStreet, MainStreet
and RateWatch. For more information on TheStreet's business, visit www.t.st.
For financial and business news, actionable trading ideas, stock quotes and
more, visit TheStreet.com, follow TheStreet on Facebook and Twitter, and
access TheStreet through all major mobile and tablet platforms.  For more
information on The Deal, visit www.thedeal.com.

Contact:  

Erin Corcoran 
TheStreet, Inc.      
212-321-5566       
erin.corcoran@thestreet.com      

RELATED LINKS
www.rate-watch.com

SOURCE TheStreet

Website: http://www.t.st
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