US Banking System

The Twist pushes CD interest rates lower.  After the Federal Reserve announcement on Thursday when the Fed discussed the Twist, short term and long term bank CD rates moved lower.  The Twist is term given to the FOMC program where the Fed sells short term bonds and buys long term bonds in an effort to push long term rates even lower than they already are in an effort to spur lending and investment. 

The Twist announcement was made on September 22nd and by the close of the next day, the best CD interest rates available nationally as measured by the Selectcdrates.com CD rate index had fallen by more than three basis points to an average rate of 1.211 percent.  One basis point is equal to 1/100th of a percent. 

While the twist program is designed to impact long term rates, both short term and long term CD rates moved lower.  The best three month CD rates available nationally were squeezed by a little more than two basis points, closing the week with an average rate of 0.547 percent.  The best three month CD rate is a real stand out coming from Hudson City Savings Bank which still offers a three month CD with an interest rate of 0.75 percent.  The next best rate falls 15 basis points back at 0.60 percent.  Virtual Savings Bank’s CD and One West Bank’s CD both come with a 0.60 percent yield.

The top ten best six month CD rates lost an almost equal amount of yield, falling just over two basis points.  The average rate for the best six month CD rates came in at 0.902 percent after dipping to 0.927 percent in the prior week.  The highest six month CD rate is held in a three way tie.  Giant Bank, Aurora Bank and Ascencia Bank all share the top spot with six month CD rate of 1.00 percent.

One year CD rates gave up under two basis points over the week.  The average rate for the best one year CD rates was down by 1.7 basis points bringing the yield to 1.141 percent.   The best rates available in the two year term category are available at Sallie Mae Bank and CNBBank Direct which offer one year CD rates at 1.20 percent, unchanged from the prior week.  The next best one year yields are available at AloStar Bank and Doral Bank with two year certificates yielding 1.15 percent.  

The best two year CD rates followed the other rates and were cut back by a little less than two basis points.  The average yields on the highest two year CDs came down to 1.337 percent from 1.355 percent in the previous week.  The top two year yield comes from CNBBank Direct at 1.50 percent.  With the loss of Flagstar’s two year CD rate this week, the second best two year yield comes from three banks offering two year rates at 1.35 percent.  Aurora Bank, Giant Bank and Ultima Bank all market a two year CD that comes with an interest rate at 1.35 percent.

The long term, five year CDs, were crushed this week.  The average rate on the top ten best five year CD rates was driven lower by 7.7 basis points week over week.  The average yield on the top five year bank CDs ended the week at 2.126 percent.  The highest five year CD rate is now available at AmTrust Direct which promotes a five year rate at 2.25 percent.  Following AmTrust is the CD from First Internet Bank which delivers a five year rate at 2.20 percent.

Interest rates may have remained unchanged earlier this month, but some banks are lowering their savings rates, so it’s more important than ever to keep a close eye on your accounts.

Santander has just pulled its eSaver Issue 3 account, which was paying one of the highest easy access rates at 3.00%, and replaced it with eSaver Issue 4 paying a lower rate of 2.75%. Existing customers with Issue 3 of the account will contine to receive 3.00% but anyone applying for an eSaver account now will only earn 2.75%. Read full post…

During the current recession it has become difficult to find investment rates that are both favorable in return and guaranteed not to lose money. The best way to find certificate of deposit rates is to get a wide survey of all of your options to give you choices. There area few steps to this progress. After putting in this work you will be rewarded with the choice of investments that only someone who has done their homework can find.

Another great tip is to look online. Even non conventional banks like ING offer rates of return for CD’s and savings accounts. Bonuses for opening accounts also can add to your return rate. Do a web search for CD rates and see what you find. I

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Today Giantbank CD rates are from a division of the Landmark Bank that was founded in 1999. Landmark Bank is a community bank located in Fort Lauderdale, Florida.

The advantage of being an online bank like Giantbank.com is that with a reduced overhead because of no brick and mortar branch offices, they can offer better rates than their competition. This makes investing your money with them a better return on investment.

The certificates of deposits are available for the personal accounts, IRA and Coverdell Education Savings accounts. The minimum deposits for these tree types of accounts are $2,500, $1,000 and $500 respectively.

The current bank CD rates include the 91 day CD that is earning an APY of 0.45%.

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Today Colorado Federal Savings Bank CD rates are from a financial institution that has one of the highest capital ratios in the financial industry. Its balance sheet is solid so even thou this financial intuition is insured by the FDIC, there is little worry it will ever become insolvent. This makes investing your money with CFSB as safe as it possibly can be.

The current bank CD rates include the 6 month CD that is earning an APY of 1.00%. The 1 year CD is earning an APY of 1.20%. The 18 month CD that is earning an APY of 1.30%.

The 2 year CD is earning an APY of 1.40%. The 3 year CD is earning an APY of 1.75%.

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Savings Accounts and Money Market Rates provided by 27 April 2011 If you’re a Bank of America customer, your dander will definitely rise within seconds. The North Carolina-based bank said it could begin charging customers who miss a payment on their credit cards a higher penalty interest rate on future purchases, according to a recently published report.

The Wall Street Journal reports that Bank of America has begun telling its customers that it may apply the higher interest rates as soon as June. Moreover, the biggest bank by assets in the U.S. said it may charge as much as 30 percent on future purchase balances for some customers who miss . Read full post…

This is a Charleston South Carolina CD Rates update on the local financial establishments that cover this beautiful town. There are some national financial institutions that may have higher rates, but they will not be included in this update.

The CD Rates from 1^st Federal of South Carolina F.S.B. currently is offering a 91 day CD that is earning an APY of 0.50%. The 6 month CD is earning an APY of 1.10%. The 8 month CD is earning an APY of 1.15%. The 1 year CD is earning an APY of 1.20%. The 15 month CD is earning an APY of 1.35%. The 18 month CD is earning an APY of 1.45%. The 30 month CD is earning an APY of 1.50%. The 3 year CD is earning an APY of 1.70%.

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