Federal Reserves' Indication That Rates Will Remain Low Leaves Savers with Little Hope
Press release from the issuing company
Friday, August 29th, 2014
RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. reported today that national averages for CD rates of all durations this week remained unchanged as the Federal Reserve continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008.
"National averages of CD rates were unchanged after Janet Yellen gave little indication that the Federal Reserve has changed its thinking about the direction of short-term interest rates at its Aug. 21 gathering in Jackson Hole, Wyoming," reported Antoine Gara, Reporter for TheStreet. "While the Fed continues to reduce its monthly bond purchases, Yellen said the central bank will continue to provide substantial help to the labor market, citing significant slack in the economy and the job market. The chairwoman's comments indicate that the Fed will continue to keep rates low a considerable time after the end of its economic stimulus program."
NATIONAL AVERAGE RESULTS - $10K
|
This |
Last |
|
|
Money Market |
0.15 |
0.15 |
|
1 month CD |
0.11 |
0.11 |
|
3 month CD |
0.15 |
0.15 |
|
6 month CD |
0.23 |
0.23 |
|
1 year CD |
0.36 |
0.36 |
|
2 year CD |
0.55 |
0.55 |
|
3 year CD |
0.75 |
0.75 |
|
4 year CD |
0.93 |
0.93 |
|
5 year CD |
1.15 |
1.15 |
* National Average is calculated using one unique rate per institution. Averages are based on Banks, Savings & Loans, Brokers and Internet Banks with assets greater than $1 Billion.
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 |
Minimum |
APY |
|
First NBC Bank |
B- |
10000 |
1.260 |
|
504-671-3550 |
|||
|
www.firstnbcbank.com |
|||
|
Salem Five Direct |
B |
1 |
1.000 |
|
800-850-5000 |
|||
|
www.salemfivedirect.com |
|||
|
Sallie Mae Bank |
A- |
1 |
0.900 |
|
877-346-2756 |
|||
|
www.salliemaebank.com |
|||
|
Ally Bank |
A- |
1 |
0.850 |
|
877-247-2559 |
|||
|
www.ally.com |
|||
|
Synchrony Bank |
C+ |
10000 |
0.850 |
|
866-869-4671 |
|||
|
www.myoptimizerplus.com |
|||
|
1 Month CD |
Financial |
Minimum |
APY |
|
Great Southern Bank |
B |
250 |
0.450 |
|
417-888-4316 |
|||
|
www.greatsouthernbank.com |
|||
|
Beal Bank USA |
C+ |
1000 |
0.400 |
|
702-598-3500 |
|||
|
www.bealbank.com |
|||
|
Beal Bank, SSB |
C- |
1000 |
0.400 |
|
619-894-8066 |
|||
|
www.bealbank.com |
|||
|
Carter Bank & Trust |
C+ |
2500 |
0.400 |
|
276-632-2901 |
|||
|
www.carterbankandtrust.com |
|||
|
Merchants Bank of Indiana |
B+ |
1 |
0.350 |
|
765-874-2511 |
|||
|
www.merchantsbankofindiana.com |
|||
|
3 Month CD |
Financial |
Minimum |
APY |
|
Beal Bank USA |
C+ |
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 |
Minimum |
APY |
|
Atlas Bank, a division of Kearny Federal Savings |
C- |
2500 |
1.010 |
|
718-768-4800 |
|||
|
www.atlasbank.com |
|||
|
Doral Bank |
D- |
500 |
0.950 |
|
850-914-2525 |
|||
|
www.doralbankflorida.com |
|||
|
National Republic Bank of Chicago |
E+ |
1000 |
0.800 |
|
312-738-4900 |
|||
|
www.nrbchicago.com |
|||
|
Beal Bank USA |
C+ |
1000 |
0.750 |
|
702-598-3500 |
|||
|
www.bealbank.com |
|||
|
GE Capital Bank |
A |
500 |
0.700 |
|
801-517-5000 |
|||
|
www.gecapitalbank.com |
|||
|
1 Year CD |
Financial |
Minimum |
APY |
|
Doral Bank |
D- |
500 |
1.100 |
|
850-914-2525 |
|||
|
www.doralbankflorida.com |
|||
|
Colorado Federal Savings Bank |
B- |
5000 |
1.100 |
|
877-484-2372 |
|||
|
www.coloradofederalbank.com |
|||
|
GE Capital Bank |
A |
500 |
1.050 |
|
801-517-5000 |
|||
|
www.gecapitalbank.com |
|||
|
iGObanking.com |
C+ |
1000 |
1.050 |
|
888-432-5890 |
|||
|
www.igobanking.com |
|||
|
Synchrony Bank |
C+ |
2000 |
1.050 |
|
866-869-4671 |
|||
|
www.myoptimizerplus.com |
|||
|
2 Year CD |
Financial |
Minimum |
APY |
|
Doral Bank |
D- |
500 |
1.300 |
|
850-914-2525 |
|||
|
www.doralbankflorida.com |
|||
|
EverBank |
B- |
1500 |
1.260 |
|
888-882-3837 |
|||
|
www.everbank.com |
|||
|
Columbia Bank |
C- |
500 |
1.250 |
|
201-794-5840 |
|||
|
www.columbiabankonline.com |
|||
|
Colorado Federal Savings Bank |
B- |
5000 |
1.250 |
|
877-484-2372 |
|||
|
www.coloradofederalbank.com |
|||
|
Salem Five Direct |
B |
10000 |
1.250 |
|
800-850-5000 |
|||
|
www.salemfivedirect.com |
|||
|
3 Year CD |
Financial |
Minimum |
APY |
|
Doral Bank |
D- |
500 |
1.500 |
|
850-914-2525 |
|||
|
www.doralbankflorida.com |
|||
|
Oritani Savings Bank |
A- |
1000 |
1.500 |
|
201-664-5400 |
|||
|
www.oritani.com |
|||
|
EverBank |
B- |
1500 |
1.460 |
|
888-882-3837 |
|||
|
www.everbank.com |
|||
|
State Farm Bank, FSB |
C |
500 |
1.450 |
|
877-734-2265 |
|||
|
www.statefarm.com |
|||
|
Sallie Mae Bank |
A- |
2500 |
1.450 |
|
877-346-2756 |
|||
|
www.salliemaebank.com |
|||
|
4 Year CD |
Financial |
Minimum |
APY |
|
Institution for Savings In Newburyport |
B |
1 |
2.000 |
|
978-462-3106 |
|||
|
www.institutionforsavings.com |
|||
|
BayCoast Bank |
C- |
10 |
1.950 |
|
508-678-7641 |
|||
|
www.baycoastbank.com |
|||
|
EverBank |
B- |
1500 |
1.850 |
|
888-882-3837 |
|||
|
www.everbank.com |
|||
|
Nationwide Bank |
B |
10000 |
1.850 |
|
877-422-6569 |
|||
|
www.nationwide.com |
|||
|
CIT Bank |
B+ |
1000 |
1.800 |
|
801-412-6800 |
|||
|
www.bankoncit.com |
|||
|
5 Year CD |
Financial |
Minimum |
APY |
|
EverBank |
B- |
1500 |
2.300 |
|
888-882-3837 |
|||
|
www.everbank.com |
|||
|
Barclays Bank Delaware |
C+ |
1 |
2.250 |
|
888-710-8756 |
|||
|
www.banking.barclaysus.com |
|||
|
GE Capital Bank |
A |
500 |
2.250 |
|
801-517-5000 |
|||
|
www.gecapitalbank.com |
|||
|
CIT Bank |
B+ |
1000 |
2.250 |
|
801-412-6800 |
|||
|
www.bankoncit.com |
|||
|
Synchrony Bank |
C+ |
2000 |
2.250 |
|
866-869-4671 |
|||
|
www.myoptimizerplus.com |
Data is surveyed weekly with averages calculated each Monday afternoon from RateWatch's unbiased national interest rate survey of over 97,000 financial institution locations across the United States. National Average is calculated using one unique rate per institution. Averages and Top Rate Issuers are based on Banks, Savings & Loans, Brokers and Internet Banks with assets greater than $1 Billion.
