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Low rates continue to weigh down on investment returns that savers seek


//science-technology.news-articles.net/content/2 .. down-on-investment-returns-that-savers-seek.html
Published in Science and Technology on Tuesday, March 19th 2013 at 13:00 GMT by Market Wire   Print publication without navigation


Low rates continue to weigh down on investment returns that savers seek -- NEW YORK, March 19, 2013 /PRNewswire/ --

NEW YORK, March 19, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: [ TST ]) reported today that interest rates for savings products generally stayed the same over the previous week with the average national rate on a 2 year CD falling 0.01 percent based on data collected from over 90,000 financial institution locations.

(Logo:  [ http://photos.prnewswire.com/prnh/20130219/NY62571LOGO ] )

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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. The Federal Reserve's policy-making wing is expected to make its latest announcement on March 20, and Chairman Ben Bernanke will address the press after the report prints.

"Analysts don't expect the Federal Open Market Committee to announce any surprise changes. Investors likely will dissect Bernanke's statements for any hint of whether the central bank is poised to scale back its quantitative easing programs as various U.S. economic indicators continue to beat expectations," says Joe Deaux, TheStreet's Economist. "Headline CPI Inflation in February remained below the Fed's upper target of 2.5%, which suggested FOMC members would maintain low interest rates. This would continue to weigh down on investment returns that savers seek in CDs".

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

0.39

0.40

3 year CD

0.53

0.53

4 year CD

0.65

0.65

5 year CD

0.84

0.84

 

TOP RATE ISSUERS - $10K

This is a list of issuers with top interest rates.  The issuer's Financial Strength Rating isan 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

(%)

Mercantil Commercebank, National Association

C

10000

1.000

305-460-8701

www.mercantilcb.com

Sallie Mae Bank

A-

1

0.950

801-281-1423

www.salliemaebank.com

Ally Bank

B+

1

0.840

877-247-2559

www.ally.com

1 Month CD

Financial Strength Rating

Minimum to Earn Interest (%)

APY

(%)

First NBC Bank

B-

1000

0.510

504-671-3550

www.firstnbcbank.com

Carter Bank & Trust

C+

2500

0.500

828-325-9800

www.carterbankandtrust.com

Beal Bank USA

B-

1000

0.400

702-598-3500

www.bealbankusa.com

3 Month CD

Financial Strength Rating

Minimum to Earn Interest

($)

APY

(%)

Eloan.com

C-

10000

0.600

888-533-5333

www.eloan.com

EverBank

D+

1500

0.590

888-882-3837

www.everbank.com

Beal Bank, SSB

C

1000

0.511

713-888-3900

www.bealbank.com

6 Month CD

Financial Strength Rating

Minimum to Earn Interest

($)

APY

(%)

Doral Bank

E+

500

0.890

212-329-3700

www.doralbankdirect.com

CapitalSource Bank

B

10000

0.800

888-433-4272

www.capitalsourcebank.com

Beal Bank USA

B-

1000

0.750

702-598-3500

www.bealbankusa.com

1 Year CD

Financial Strength Rating

Minimum to Earn Interest

($)

APY

(%)

Beal Bank USA

B-

1000

1.110

786-347-3601

www.bealbankusa.com

Doral Bank

E+

500

1.050

850-914-2525

www.doralbankflorida.com

Eloan.com

C-

10000

1.020

888-533-5333

www.eloan.com

2 Year CD

Financial Strength Rating

Minimum to Earn Interest

($)

APY

(%)

Doral Bank

E+

500

1.300

850-914-2525

www.doralbankflorida.com

Nationwide Bank

B+

10000

1.200

614-249-6226

www.nationwide.com

VirtualBank

C+

10000

1.160

561-776-8860

www.virtualbank.com

3 Year CD

Financial Strength Rating

Minimum to Earn Interest

($)

APY

(%)

First NBC Bank

B-

10000

1.970

504-671-3550

www.firstnbcbank.com

Doral Bank

E+

500

1.500

850-914-2525

www.doralbankflorida.com

Banco Popular North America

C-

10000

1.450

800-377-0800

www.bancopopular.com

4 Year CD

Financial Strength Rating

Minimum to Earn Interest

($)

APY

(%)

Institution for Savings In Newburyport

B

1

1.750

978-462-3106

www.institutionforsavings.com

Emigrant Bank

C+

1000

1.650

212-850-4521

www.emigrant.com

Yakima Federal Savings & Loan Association

A

10000

1.650

509-248-2634

www.yakimafed.com

5 Year CD

Financial Strength Rating

Minimum to Earn Interest

($)

APY

(%)

First NBC Bank

B-

10000

2.120

504-671-3550

www.firstnbcbank.com

Institution for Savings In Newburyport

B

1

2.000

978-462-3106

www.institutionforsavings.com

Union Savings Bank

B-

500

1.850

513-247-0300

www.unionsavings-bank.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 ]

 

SOURCE TheStreet



RELATED LINKS
[ http://www.rate-watch.com ]

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