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5-Year CD Rates in Greater Riverside Region Lower Than National Average

RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages for two-year CD rates increased by one basis point, while all other durations remained unchanged this 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.

"The tick higher in 2-year CDs simply offset last week's one-basis point decline. Looking past the one-week move, savers should listen closely to Federal Reserve Chairwoman Janet Yellen on Wednesday as she holds her first press conference," reported Joe Deaux, TheStreet's Economics Analyst. "While economists expect the central bank to continue tapering its economic stimulus program, many are uncertain how Yellen intends to address when the Fed will raise its key interest rate. Any indication of the time period for a rate hike will be critical news for anyone hoping to boost yield on cash savings."

NATIONAL AVERAGE RESULTS - $10K

Avg Rate This weekAvg Rate Last week
Money Market0.15%0.15%
1 month CD0.11%0.11%
3 month CD0.15%0.15%
6 month CD0.23%0.23%
1 year CD0.36%0.36%
2 year CD0.56%0.56%
3 year CD0.75%0.75%
4 year CD0.92%0.92%
5 year CD1.13%1.13%

In the Greater Riverside Region area, the average 5-year CD rate sat at 0.86%, lower than the national average of 1.13%. Rates on the 5-year CD ranged from 0.2% on the low end to 1.5% at the high end, which can be found at OneWest Bank, FSB. The average 3-year CD rate in Greater Riverside Region was 0.57% with a range of 0.05% to 1.15% found at CapitalSource Bank. And if you are on the market for a 1-year CD, take a look at OneWest Bank, FSB, which currently offers a rate of 0.8% as compared to the Greater Riverside Region average of 0.3%. Other top rate issuers can be found in the tables that follow.

GREATER RIVERSIDE REGION AVERAGE RESULTS - $10K

Avg Rate This
week
Highest Available
Rate
Highest Available Rate Issuer
Money Market0.1%0.5%OneWest Bank, FSB
1 month CD0.08%0.2%Wilshire Bank
3 month CD0.12%0.45%OneWest Bank, FSB
6 month CD0.21%0.6%OneWest Bank, FSB
1 year CD0.3%0.8%OneWest Bank, FSB
2 year CD0.45%1.1%CapitalSource Bank
3 year CD0.57%1.15%CapitalSource Bank
4 year CD0.67%1.25%OneWest Bank, FSB
5 year CD0.86%1.5%OneWest Bank, FSB

TOP RATE ISSUERS - $10K

This is a list of issuers with top interest rates in the Greater Riverside Region area. 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 MarketFinancial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
OneWest Bank, FSB
760-341-5652
www.owb.com
B+100000.5
Wilshire Bank
909-919-7755
www.wilshirebank.com
B25000.25
Community Bank
909-307-8100
www.cbank.com
C+25000.2
CapitalSource Bank
888-433-4272
www.capitalsourcebank.com
B+10.2
Citizens Business Bank
909-627-7316
www.cbbank.com
A-100000.1
1 Month CDFinancial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Wilshire Bank
909-919-7755
www.wilshirebank.com
B10000.2
Armed Forces Bank, National Association
760-386-1504
www.afbank.com
C5000.15
Opus Bank
909-517-1729
www.opusbank.com
C+100000.1
East West Bank
909-590-8310
www.eastwestbank.com
B100000.1
Rabobank, National Association
951-765-4300
www.rabobankamerica.com
C10000.1
3 Month CDFinancial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
OneWest Bank, FSB
760-341-5652
www.owb.com
B+10000.45
CapitalSource Bank
888-433-4272
www.capitalsourcebank.com
B+100000.35
Wilshire Bank
909-919-7755
www.wilshirebank.com
B10000.25
Armed Forces Bank, National Association
760-386-1504
www.afbank.com
C5000.2
Opus Bank
909-517-1729
www.opusbank.com
C+100000.2
6 Month CDFinancial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
OneWest Bank, FSB
760-341-5652
www.owb.com
B+10000.6
CapitalSource Bank
888-433-4272
www.capitalsourcebank.com
B+100000.6
Wilshire Bank
909-919-7755
www.wilshirebank.com
B10000.6
Opus Bank
909-517-1729
www.opusbank.com
C+100000.4
Community Bank
909-307-8100
www.cbank.com
C+25000.3
1 Year CDFinancial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
OneWest Bank, FSB
760-341-5652
www.owb.com
B+10000.8
Wilshire Bank
909-919-7755
www.wilshirebank.com
B10000.8
CapitalSource Bank
888-433-4272
www.capitalsourcebank.com
B+100000.7
Armed Forces Bank, National Association
760-386-1504
www.afbank.com
C5000.6
Opus Bank
909-517-1729
www.opusbank.com
C+100000.55
2 Year CDFinancial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
CapitalSource Bank
888-433-4272
www.capitalsourcebank.com
B+100001.1
Wilshire Bank
909-919-7755
www.wilshirebank.com
B10000.95
OneWest Bank, FSB
760-341-5652
www.owb.com
B+10000.9
Armed Forces Bank, National Association
760-386-1504
www.afbank.com
C5000.9
Pacific Premier Bank
760-660-4530
www.ppbi.com
A-100000.85
3 Year CDFinancial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
CapitalSource Bank
888-433-4272
www.capitalsourcebank.com
B+100001.15
Wilshire Bank
909-919-7755
www.wilshirebank.com
B10001.05
Pacific Premier Bank
760-660-4530
www.ppbi.com
A-100001.01
OneWest Bank, FSB
760-341-5652
www.owb.com
B+10001.0
Armed Forces Bank, National Association
760-386-1504
www.afbank.com
C5001.0
4 Year CDFinancial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
OneWest Bank, FSB
760-341-5652
www.owb.com
B+10001.25
CapitalSource Bank
888-433-4272
www.capitalsourcebank.com
B+100001.2
Armed Forces Bank, National Association
760-386-1504
www.afbank.com
C5001.1
Opus Bank
909-517-1729
www.opusbank.com
C+100001.05
Pacific Premier Bank
760-660-4530
www.ppbi.com
A-100001.01
5 Year CDFinancial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
OneWest Bank, FSB
760-341-5652
www.owb.com
B+10001.5
Bank of the West
909-941-2223
www.bankofthewest.com
B100001.5
CapitalSource Bank
888-433-4272
www.capitalsourcebank.com
B+100001.4
Opus Bank
909-517-1729
www.opusbank.com
C+100001.4
Provident Savings Bank, Federal Savings Bank
951-686-6060
www.myprovident.com
C+100001.4

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.

More About CDs:

CDs, or certificate of deposits, are bank-issued promissory notes wherein an investor deposits money for a set amount of time and, provided the money remains untouched, receives interest on the total sum when the investment matures.

While the money can't be accessed during that time (without incurring penalties), the advantage of a CD over a regular savings deposit is the higher rate of interest. Typically, a CD can be taken out on as few as three-month terms but can range to up to five years; generally, the longer the timeframe the higher rate of interest.

CD Laddering:

To provide further financial security, a CD laddering strategy offers conservative investors the opportunity to stagger their capital across numerous deposits set to expire at different intervals. Not only does this hedge against variable rate fluctuations by offering a guaranteed return at a locked-in interest rate, it also increases liquidity given that one CD will mature at predictable and established intervals.

Using an example of a five-year ladder strategy, an investor would divide his or her money amongst one-, two-, three-, four-, and five-year CDs. Once the one-year deposit matures, he or she will reinvest the money into a five-year CD, and will do so every subsequent year upon each CD's maturation. In this way, the investor has a CD that matures each year and thus, steady income from the interest on the maturing investments.

Nevertheless, investors must keep in mind that the onus of developing a ladder strategy is on the investor, not the bank or financial institution. In developing a strategy, map out each rung of the ladder, determining how long you want to invest for, the kind of return you are targeting and the length of time you can tolerate not having access to the principal and interest.

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 96,000 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.

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.

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