CDs May Be Safest Play in Light of Fed's Recent Announcements TheStreet and RateWatch Report Top CD Rate Issuers PR Newswire NEW YORK, Feb. 12, 2013 NEW YORK, Feb. 12, 2013 /PRNewswire/ --RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that interest rates for savings products remained the same over the previous week based on data collected from over 90,000 financial institution locations. (Logo: http://photos.prnewswire.com/prnh/20130102/NY35868LOGO-b ) CD rates have generally remained unchanged at record-low levels. The Federal Reserve has continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008. Some investment officers suggest that CDs with a higher yield than money markets can be a more attractive option for cash-equivalent investments, but others warn that savers should consider whether CDs are a favorable alternative after taxes and the rate of inflation. "The Fed's loose monetary policy, in part, attempts to encourage investors to move funds into riskier assets and the highly accommodative policy has made CDs a less attractive option in recent years," says Joe Deaux, The Street's economist. "Some investment officers see CDs as a safe play for the near term as recent announcements by the Fed's policymaking wing suggest that some members in the central bank have argued to slow monetary easing in 2013." NATIONAL AVERAGE RESULTS - $10K This week Last 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 0.16 1 year CD 0.25 0.25 2 year CD 0.41 0.41 3 year CD 0.54 0.54 4 year CD 0.67 0.67 5 year CD 0.87 0.87 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. Money Market Financial Minimum to APY Strength Rating Earn Interest Green Bank, National Association 713-275-8370 C+ 500 1.000 www.greenbank.com Sallie Mae Bank 801-281-1423 A- 1 0.950 www.salliemaebank.com Ally Bank 877-247-2559 B+ 1 0.900 www.ally.com 1 Month CD Financial Minimum to APY Strength Rating Earn 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 3 Month CD Financial Minimum to APY Strength Rating Earn 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 USA 702-598-3500 B- 1000 0.510 www.bealbankusa.com 6 Month CD Financial Minimum to APY Strength Rating Earn Interest Doral Bank 212-584-6820 E+ 500 0.900 www.doralbankny.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 1 Year CD Financial Minimum to APY Strength Rating Earn Interest Doral Bank 212-584-6820 E+ 500 1.150 www.doralbankny.com 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 2 Year CD Financial Minimum to APY Strength Rating Earn Interest Doral Bank 212-584-6820 E+ 500 1.400 www.doralbankny.com FirstBank Florida 305-740-9522 D+ 1000 1.250 www.firstbankfla.com First Citizens National Bank 615-591-2248 B+ 1000 1.200 www.firstcitizens-bank.com 3 Year CD Financial Minimum to APY Strength Rating Earn Interest First NBC Bank 504-671-3550 B- 10000 1.970 www.firstnbcbank.com Doral Bank 212-584-6820 E+ 500 1.550 www.doralbankny.com First Citizens National Bank 615-591-2248 B+ 1000 1.450 www.firstcitizens-bank.com 4 Year CD Financial Minimum to APY Strength Rating Earn Interest Institution for Savings In Newburyport 978-462-3106 B 1 1.750 www.institutionforsavings.com Green Bank, National Association 713-275-8370 C+ 1000 1.700 www.greenbank.com Yakima Federal Savings & Loan Association A 10000 1.700 509-248-2634 www.yakimafed.com 5 Year CD Financial Minimum to APY Strength Rating Earn 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 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. 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 firstname.lastname@example.org RELATED LINKS www.rate-watch.com SOURCE TheStreet, Inc. Website: http://www.ratewatch.com
CDs May Be Safest Play in Light of Fed's Recent Announcements
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