CD Rate Standstill Presses On with Growing Uncertainty in U.S. Economy

By USDR

RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today National averages for CD rates remained unchanged across all durations for the second consecutive week 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.

“Movement in CD rates is muted as banks and market participants await more direction from the Fed. Investors are anticipating the October jobs report on Friday as markets are hoping to assess how the government shutdown last month influenced the labor market,” reported Joe Deaux, TheStreet’s Economics Analyst. “With growing uncertainty in the U.S. economy and no word from the Fed until December, savers should expect CD rates to remain unchanged.”

NATIONAL AVERAGE RESULTS – $10K

This week Last week
Money Market 0.10 0.10
1 month CD 0.06 0.06
3 month CD 0.09 0.09
6 month CD 0.14 0.14
1 year CD 0.23 0.23
2 year CD 0.37 0.37
3 year CD 0.51 0.51
4 year CD 0.63 0.63
5 year CD 0.82 0.82

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
($)
APY
(%)
First NBC Bank B- 10000 1.260
504-671-3550
www.firstnbcbank.com
Doral Bank D- 5000 0.940
212-584-6820
www.doralbankny.com
Sallie Mae Bank A- 1 0.900
801-281-1423
www.salliemaebank.com
Mercantil Commercebank, National Association C 10000 0.900
305-460-8701
www.mercantilcb.com
Ally Bank B+ 1 0.860
877-247-2559
www.ally.com
1 Month CD Financial Strength Rating Minimum to Earn Interest
($)
APY
(%)
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
619-894-8066
www.bealbank.com
Merchants Bank of Indiana A- 1 0.350
317-805-4300
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
($)
APY
(%)
Beal Bank USA B- 1000 0.510
702-598-3500
www.bealbank.com
Umbrellabank.com C 1000 0.510
866-862-7355
www.umbrellabank.com
Institution for Savings In Newburyport B 1 0.500
978-462-3106
www.institutionforsavings.com
Doral Bank D- 500 0.500
850-914-2525
www.doralbankflorida.com
FirstBank Florida D+ 1000 0.500
305-740-9522
www.firstbankfla.com
6 Month CD Financial Strength Rating Minimum to Earn Interest
($)
APY
(%)
Doral Bank D- 500 1.000
212-584-6820
www.doralbankny.com
GE Capital Bank A 500 0.830
801-517-5000
www.gecapitalbank.com
Beal Bank USA B- 1000 0.750
702-598-3500
www.bealbank.com
Discover Bank C+ 500 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
($)
APY
(%)
Doral Bank D- 500 1.200
212-584-6820
www.doralbankny.com
Beal Bank USA B- 1000 1.110
786-347-3601
www.bealbank.com
GE Capital Bank A 500 1.050
801-517-5000
www.gecapitalbank.com
Nationwide Bank B+ 10000 1.010
614-249-6226
www.nationwide.com
Eloan.com C- 10000 0.990
888-533-5333
www.eloan.com
2 Year CD Financial Strength Rating Minimum to Earn Interest
($)
APY
(%)
Doral Bank D- 500 1.450
212-584-6820
www.doralbankny.com
Flushing Commercial Bank C+ 5000 1.200
718-512-2929
www.flushingbank.com
Nationwide Bank B+ 10000 1.200
614-249-6226
www.nationwide.com
GE Capital Bank A 500 1.180
801-517-5000
www.gecapitalbank.com
Guaranty Bond Bank, National Association B+ 1000 1.150
903-572-9881
www.gnty.com
3 Year CD Financial Strength Rating Minimum to Earn Interest
($)
APY
(%)
Institution for Savings In Newburyport B 1 2.000
978-462-3106
www.institutionforsavings.com
Doral Bank D- 500 1.600
212-584-6820
www.doralbankny.com
Intervest National Bank C 2500 1.450
212-218-8383
www.intervestnatbank.com
Community Bank C+ 1000 1.400
800-239-9427
www.dodcommunitybank.com
Emigrant Bank C+ 1000 1.400
212-850-4521
www.emigrant.com
4 Year CD Financial Strength Rating Minimum to Earn Interest
($)
APY
(%)
Institution for Savings In Newburyport B 1 2.000
978-462-3106
www.institutionforsavings.com
HarborOne Bank U 1 2.000
508-895-1000
www.harborone.com
GE Capital Bank A 500 1.670
801-517-5000
www.gecapitalbank.com
Nationwide Bank B+ 10000 1.670
614-249-6226
www.nationwide.com
Doral Bank D- 500 1.650
212-584-6820
www.doralbankny.com
5 Year CD Financial Strength Rating Minimum to Earn Interest
($)
APY
(%)
Charles Schwab U 1000 2.150
800-435-4000
www.schwabbank.com
GE Capital Bank A 500 2.010
801-517-5000
www.gecapitalbank.com
Institution for Savings In Newburyport B 1 2.000
978-462-3106
www.institutionforsavings.com
Compass Bank C 1 2.000
205-297-1986
www.bbvacompass.com
State Farm Bank, FSB C 500 2.000
877-734-2265
www.statefarm.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 96,000 financial institution locations across the United States.

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.

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