Philadelphia CD Rates Survey – January 16, 2012

Written by: Ryan Watson

Philadelphia CD Rates Survey – January 16, 2012

According to a recent Primerates.com survey conducted on January 16, 2012 of Philadelphia CD rates offered by the area banks & credit unions, Philadelphia’s largest financial institutions offered short-term savers 6 month CD’s with rates between 0.05% at Wells Fargo (www.WellsFargo.com) and 0.50% at Beneficial Mutual (www.thebeneficial.com).   Beneficial Mutual also has the highest rates for 1-4 year terms.  TD Bank (www.TDBankNorth.com) has the highest 5-year rate at 1.74%.

CD’s are typically insured up to $250,000 by the FDIC.  As CD’s mature, banks typically re-price the rates on deposits.  Make sure that you track when your CD’s mature so that you can roll them over into new CD’s and keep your money working as hard as possible.

 

Banks 6 Month 1 Year 2 Year 3 Year 4 Year 5 Year
TD Bank

0.30%

0.20%

0.80%

0.90%

1.00%

1.74%

Wells Fargo

0.05%

0.05%

0.55%

0.90%

1.15%

1.15%

PNC Bank

0.15%

0.25%

0.45%

0.45%

0.85%

1.05%

Bank of America

0.30%

0.35%

0.40%

0.60%

0.85%

1.20%

Manufacturers & Traders

0.20%

0.25%

0.25%

0.40%

NA NA
Sovereign Bank NA

0.20%

0.20%

0.30%

NA NA
Beneficial Mutual

0.50%

0.75%

1.00%

1.25%

1.49%

1.49%

Citibank

0.15%

0.25%

0.30%

0.50%

0.75%

1.00%

Wilmington

0.10%

0.15%

0.20%

0.30%

0.55%

0.70%

 

Rates from banks, thrifts and credit union were posted on their websites on the date indicated for a $10,000 certificates of deposit meeting the specific holding requirement.  Data is believed accurate at time of collection, can change without notice, and will vary.  Contact a specific institution for current rates.


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Philadelphia CD Rates Survey – January 16, 2012

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