M.Y. Safra Bank, FSB's Information and Current CD Rates
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M.Y. Safra Bank, FSB
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M.Y. Safra Bank, FSB CD Rates
Rates Updated: 09/20/2017
Articles Related to M.Y. Safra Bank, FSB
CD Rates Continue to Move Higher in September
Keeping with the uptrend in 2017, CD rates continue to move higher in September. In August, the top 1 year CD rate was at 1.55 percent, this month the top 1 year CD rate is at 1.60 percent. Popular Direct, EverBank, and Pacific National Bank are all offering 1 year CD rates at 1.59 percent with a yield of 1.60 percent.
At the beginning of the year, the top 1 year rate was only at 1.35 percent, 25 basis points lower than the current rate. Shorter term CD rates moved higher this year because the Federal Reserve has been increasing the fed funds rate, the rate banks use to lend each other money overnight. These rate increases have put upward pressure on short term interest rates and bond yields.
CD rates with terms shorter than 1 year are also moving higher. The top 3 month CD rate is week is from Luana Savings Bank at 1.05 percent. Last month, the top 3 month CD rate was at 1.00 percent. The top 6 month CD rate this month is at 1.26% from M.Y. Safra Bank, FSB. In August, the top 6 month rate was at 1.21 percent.
CD Yield Curve Flattening
As short term CD rates move higher, longer term rates have been stagnant, increasing a lot less than short term rates, which is flattening the yield curve. The top 2 year CD rate is at 1.71 percent, only 11 basis points higher than the top 1 year rate.
Looking at longer term certificates of deposit, rates are only marginally higher. The top 3 year rate is at 2.00 percent, the top 4 year rate is at 2.16 percent, and the top 5 year rate is at 2.40 percent. The CD yield curve will continue to be flat in the coming years, even if short term rates are pushed higher.Read more...
Top 2 Year CD Rate Now at 1.70 Percent
The top CD rates continue to move higher as the best 2 year CD rate hits 1.70 percent this week. 2 year CD rates at Connexus Credit Union take the top spot this week at 1.69 percent with a yield of 1.70 percent. Connexus has the best rate this week but two banks are right on the credit union's tail.
Northern Bank Direct, EverBank, and Popular Direct have the second best 2 year rate this week at 1.64 percent with a yield of 1.65 percent. We have another three-way tie for third place, My e-BAnC by BAC Florida Bank, TAB Bank, and VirtualBank all have a current 2 year rate of 1.61 percent with a yield of 1.62 percent.
Not only are the top rates moving higher this week, average 2 year CD rates are also higher. The current average 2 year CD rate is at 1.50 percent, up from last week's average 2 year rate of 1.47 percent. Listed below are the top ten 2 year CD rates for the week ending April 15, 2017.
Best 2 Year CD Rates
Best 1 Year CD Rates April 5, 2017
CD rates continue to move higher this week. We look for the trend of higher CD rates to continue in 2017 as long as there isn't a recession. The Fed is expected to increase the federal funds rate at least two more times this year, which will put more upward pressure on CD rates.
This week, the best 1 year CD rate in the database is now at 1.49 percent with an APY of 1.50 percent. A couple of weeks ago, the top 1 year CD rate was 5 basis points less.
The current national average 1 year CD rate also moved higher this week over last. The current national average 1 year CD rate is at 1.26 percent, up from last week's average of 1.30 percent.
Listed below is top ten 1 year CD rates currently available.
Top Ten 1 Year CD Rates
You can view a list of CD rates for all CD terms at MonitorBankRates.com.Read more...
Compare M.Y. Safra Bank, FSB's CD Rates With Other Bank Rates Below
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