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Fed will likely maintain a firm policy of low interest rates in the near term

TheStreet and RateWatch Report Top CD Rate Issuers

NEW YORK, March 5, 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.

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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. Federal Reserve Chairman Ben Bernanke's testimony to the U.S. Senate on Feb. 26 and the House on Feb. 27 suggested that the central bank would continue to keep interest-rates low. Fed Vice Chairman Janet Yellen said Monday that she believed the balance of risks still called for highly accommodative monetary policy.

"Federal Open Market Committee minutes from the January meeting triggered concerns last month among investors as the report noted that 'many' members were considering the need to scale back purchases of longer-term Treasuries and mortgage-backed securities before the end of 2013," says Joe Deaux, TheStreet's economist. "Bernanke's testimony and Yellen's comments have led many economists and financial analysts to judge that the Fed will maintain a firm policy of low interest rates in the near term. Reiteration by Fed leaders of the need to continue easing at least through 2013 may have dispelled market concerns. Congress' decision not to act immediately on sequestration -- across-the-board spending cuts that went into effect March 1 -- signaled fiscal tightening, which likely put more pressure on the central bank to maintain monetary expansion."

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

0.40

0.40

3 year CD

0.54

0.54

4 year CD

0.66

0.66

5 year CD

0.85

0.85

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

Sallie Mae Bank

A-

1

0.950

801-281-1423

www.salliemaebank.com

Ally Bank

B+

1

0.900

877-247-2559

www.ally.com

Customers Bank

C-

10000

0.800

610-933-2000

www.customersbank.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

Pinnacle Bank

B-

500

0.500

402-529-3581

www.pinnbank.com

Carter Bank & Trust

C+

2500

0.500

828-325-9800

www.carterbankandtrust.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

205-202-8511

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

Doral Bank

E+

500

1.200

212-584-6820

www.doralbankny.com

Beal Bank USA

B-

1000

1.110

786-347-3601

www.bealbankusa.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

1.450

212-584-6820

www.doralbankny.com

FirstBank Florida

D+

1000

1.250

305-740-9522

www.firstbankfla.com

Nationwide Bank

B+

10000

1.200

614-249-6226

www.nationwide.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

1.550

212-584-6820

www.doralbankny.com

Community Bank

C

1000

1.450

800-239-9427

www.dodcommunitybank.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

Doral Bank

E+

500

1.650

212-584-6820

www.doralbankny.com

Emigrant Bank

C+

1000

1.650

212-850-4521

www.emigrant.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

Carter Bank & Trust

C+

100

2.020

910-630-2500


Institution for Savings In Newburyport

B

1

2.000

978-462-3106

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
[email protected]

SOURCE TheStreet

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