Philadelphia CD Rates Survey for the Week of December 19, 2011

Written by: Ryan Watson

According to a recent Primerates.com survey conducted on December 19, 2011 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 Savings Bank (www.thebeneficial.com).   Beneficial Mutual, in a push for new business, offers higher rates for all longer-term CD maturities, ranging from .75% 1-year CD’s to 1.49% for a 4-year CD.  TD Bank (www.tdbank.com) offers the highest 5-year CD maturity 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%
Citizens Bank NA 0.05% 0.25% NA NA 1.00%
Bank of America 0.30% 0.35% 0.40% 0.60% 0.85% 1.20%
Manufacturers & Traders 0.25% 0.35% 0.35% 0.50% 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% 0.20% 0.30% 0.40% 0.75% 0.85%

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 for the Week of...

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