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

NEW YORK - RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that national averages this week for CD rates of all durations remained unchanged 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.

"For the seventh-straight week national averages of CD rates remained unchanged. Banks aren't budging on significant rate changes for savers seeking a place to park their cash," reported Joe Deaux, Economics Analyst for TheStreet. "Fed Chairman Janet Yellen addresses the press in two weeks, when investors should listen for any new language about when the central bank will raise the benchmark interest rate."

NATIONAL AVERAGE RESULTS - $10K

  Avg Rate This week Avg Rate Last week
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 1.14% 1.14%

In the Greater San Francisco Region area, the average 5-year CD rate sat at 0.91%, lower than the national average of 1.14%. Rates on the 5-year CD ranged from 0.15% on the low end to 2.25% at the high end, which can be found at First Republic Bank. The average 3-year CD rate in Greater San Francisco Region was 0.55% with a range of 0.05% to 1.2% found at First Republic Bank. And if you are on the market for a 1-year CD, take a look at Eloan.com, which currently offers a rate of 0.91% as compared to the Greater San Francisco Region average of 0.26%. Other top rate issuers can be found in the tables that follow.

GREATER SAN FRANCISCO REGION AVERAGE RESULTS - $10K

  Avg Rate This
week
Highest Available
Rate
Highest Available Rate Issuer
Money Market 0.09% 0.4% Hanmi Bank
1 month CD 0.07% 0.2% Preferred Bank
3 month CD 0.1% 0.4% Hanmi Bank
6 month CD 0.16% 0.7% Hanmi Bank
1 year CD 0.26% 0.91% Eloan.com
2 year CD 0.38% 1.0% Hanmi Bank
3 year CD 0.55% 1.2% First Republic Bank
4 year CD 0.68% 1.5% First Republic Bank
5 year CD 0.91% 2.25% First Republic Bank

TOP RATE ISSUERS - $10K

This is a list of issuers with top interest rates in the Greater San Francisco 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 Market Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Hanmi Bank
415-749-7600
www.hanmi.com
B 10000 0.4
Preferred Bank
415-230-3288
www.preferredbank.com
B- 1 0.2
Compass Bank
925-947-3434
www.bbvacompass.com
C 10000 0.15
Cathay Bank
415-398-3122
www.cathaybank.com
B 10000 0.15
Far East National Bank
415-986-2300
www.fenb-us.com
B 10000 0.15
1 Month CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Preferred Bank
415-230-3288
www.preferredbank.com
B- 1000 0.2
Torrey Pines Bank
510-899-7500
www.torreypinesbank.com
B- 5000 0.15
Hanmi Bank
415-749-7600
www.hanmi.com
B 1000 0.1
Compass Bank
925-947-3434
www.bbvacompass.com
C 1 0.1
Far East National Bank
415-986-2300
www.fenb-us.com
B 10000 0.1
3 Month CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Hanmi Bank
415-749-7600
www.hanmi.com
B 1000 0.4
Preferred Bank
415-230-3288
www.preferredbank.com
B- 1000 0.3
BBCN Bank
510-302-0505
www.bbcnbank.com
B- 1000 0.3
Eloan.com
888-533-5333
www.eloan.com
C 10000 0.25
Torrey Pines Bank
510-899-7500
www.torreypinesbank.com
B- 5000 0.2
6 Month CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Hanmi Bank
415-749-7600
www.hanmi.com
B 1000 0.7
BBCN Bank
510-302-0505
www.bbcnbank.com
B- 1000 0.6
Eloan.com
888-533-5333
www.eloan.com
C 10000 0.43
Opus Bank
415-256-9827
www.opusbank.com
C+ 10000 0.4
Preferred Bank
415-230-3288
www.preferredbank.com
B- 1000 0.35
1 Year CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Eloan.com
888-533-5333
www.eloan.com
C 10000 0.91
Hanmi Bank
415-749-7600
www.hanmi.com
B 1000 0.8
BBCN Bank
510-302-0505
www.bbcnbank.com
B- 1000 0.8
Opus Bank
415-256-9827
www.opusbank.com
C+ 10000 0.55
Preferred Bank
415-230-3288
www.preferredbank.com
B- 1000 0.55
2 Year CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
Eloan.com
888-533-5333
www.eloan.com
C 10000 1.0
Hanmi Bank
415-749-7600
www.hanmi.com
B 1000 1.0
BBCN Bank
510-302-0505
www.bbcnbank.com
B- 1000 1.0
Compass Bank
925-947-3434
www.bbvacompass.com
C 1 0.85
Opus Bank
415-256-9827
www.opusbank.com
C+ 10000 0.7
3 Year CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
First Republic Bank
415-392-1400
www.firstrepublic.com
B+ 5000 1.2
Eloan.com
888-533-5333
www.eloan.com
C 10000 1.1
BBCN Bank
510-302-0505
www.bbcnbank.com
B- 1000 1.1
Hanmi Bank
415-749-7600
www.hanmi.com
B 1000 1.05
Opus Bank
415-256-9827
www.opusbank.com
C+ 10000 1.0
4 Year CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
First Republic Bank
415-392-1400
www.firstrepublic.com
B+ 5000 1.5
Bank of the West
925-942-8300
www.bankofthewest.com
B 10000 1.5
Umpqua Bank
415-268-8010
www.umpquabank.com
B- 10000 1.41
Eloan.com
888-533-5333
www.eloan.com
C 10000 1.2
Opus Bank
415-256-9827
www.opusbank.com
C+ 10000 1.05
5 Year CD Financial Strength
Rating
Minimum to Earn
Interest ($)
APY(%)
First Republic Bank
415-392-1400
www.firstrepublic.com
B+ 5000 2.25
Compass Bank
925-947-3434
www.bbvacompass.com
C 1 2.0
Umpqua Bank
415-268-8010
www.umpquabank.com
B- 10000 1.76
Eloan.com
888-533-5333
www.eloan.com
C 10000 1.51
Bank of the West
925-942-8300
www.bankofthewest.com
B 10000 1.5

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.

This article was written by a staff member of TheStreet.

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