You are viewing rates across Alabama
Below are the best one year CD Rates from banks in Alabama. One year CDs are usually the most popular term and offer a decent yield without having to lock-up money for an extended period of time. One year CD Rates are generally comparable to or a little higher than their savings and money market counterparts.
AL - December 5, 2016
1 Year CD National Average : 0.38% ?
|Beal Bank, Ssb||0.91%||$1,000||-|
|Metro City Bank||0.84%||$1,000||-|
|Southern Community Bank||0.80%||$1,000||-|
|First Exchange Bank Of Alabama||0.80%||$1,000||-|
|Liberty Bank And Trust Company||0.79%||$100,000||-|
|Peoples Independent Bank||0.75%||$500||-|
|Armed Forces Bank, National Association||0.75%||$500||-|
|State Bank & Trust||0.75%||$500||-|
|First Bank Of Boaz||0.75%||$1,000||-|
|Cadence Bank, N.a.||0.75%||$500||-|
|Liberty Bank And Trust Company||0.68%||$1||-|
|The Citizens Bank Of Fayette||0.65%||$500||-|
|First Jackson Bank, Inc.||0.60%||$1,000||-|
|First Partners Bank||0.60%||$1,000||-|
|First Southern State Bank||0.55%||$500||-|
|Small Town Bank||0.50%||$500||-|
|Central State Bank||0.50%||$500||-|
|The Farmers & Merchants Bank||0.50%||$2,500||-|
|First Citizens Bank||0.50%||$1,000||-|
|Oakworth Capital Bank||0.50%||$5,000||-|
|The First National Bank Of Hartford||0.45%||$1,000||-|
|First Federal Bank, A Fsb||0.45%||$500||-|
|First National Bank Of Pulaski||0.45%||$10,000||-|
|Progress Bank And Trust||0.45%||$1,000||-|
|River Bank & Trust||0.45%||$1,000||-|
|Citizens' Bank, Inc.||0.45%||$1,000||-|
|Merchants & Marine Bank||0.42%||$1,000||-|
|West Alabama Bank & Trust||0.40%||$1,000||-|
|Traders & Farmers Bank||0.40%||$500||-|
|Sweet Water State Bank||0.40%||$1,000||-|
|First Community Bank Of Cullman||0.40%||$500||-|
|Citizens Bank & Trust||0.40%||$500||-|
|Cullman Savings Bank||0.40%||$1,000||-|
|Fnb Of Central Alabama||0.40%||$500||-|
|First Community Bank||0.40%||$500||-|
|Hnb First Bank||0.40%||$500||-|
|The Citizens Bank||0.40%||$1,000||-|
|Vantage Bank Of Alabama||0.40%||$1,000||-|
|Noblebank & Trust||0.35%||$1,000||-|
|State Bank & Trust Company||0.35%||$1,000||-|
|National Bank Of Commerce||0.35%||$500||-|
|Bank Of Wedowee||0.35%||$1,000||-|
|Union State Bank||0.35%||$500||-|
|Southcrest Bank, National Association||0.35%||$500||-|
|First Us Bank||0.35%||$500||-|
|Cb&s Bank, Inc.||0.35%||$1,000||-|
|Ccb Community Bank||0.35%||$500||-|
|First Southern Bank||0.31%||$1,000||-|
|Southern Independent Bank||0.31%||$1,000||-|
|Robertson Banking Company||0.30%||$1,000||-|
|Southern Independent Bank||0.30%||$100,000||-|
|Farmers And Merchants Bank||0.30%||$1,000||-|
|The First National Bank And Trust||0.30%||$1,000||-|
|Peoples Bank Of Alabama||0.30%||$1,000||-|
|Community Bank, Coast||0.30%||$1,000||-|
|Bank Of Walker County||0.30%||$500||-|
|The Samson Banking Company, Inc.||0.30%||$1,000||-|
|Southern States Bank||0.26%||$500||-|
|Community Spirit Bank||0.26%||$10,000||-|
|Bank Of York||0.26%||$1,000||-|
|Troy Bank & Trust Company||0.25%||$1,000||-|
|The First National Bank Of Brundidge||0.25%||$500||-|
|Citizens Bank & Trust, Inc.||0.25%||$500||-|
|Merchants Bank Of Alabama||0.25%||$500||-|
|Pnc Bank, National Association||0.22%||$100,000||-|
|The First, A National Banking Association||0.20%||$1,000||-|
|Pnc Bank, National Association||0.18%||$10,000||-|
|Bank Of The Ozarks||0.18%||$1,000||-|
|Commonwealth National Bank||0.16%||$500||-|
|Bank Of Brewton||0.15%||$1,000||-|
|Woodforest National Bank||0.15%||$500||-|
|Trustmark National Bank||0.15%||$1,000||-|
|Citizens Trust Bank||0.10%||$500||-|
|Branch Banking And Trust Company||0.10%||$10,000||-|
|Wells Fargo Bank, National Association||0.05%||$10,000||-|
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A certificate of deposit (CD) is a savings product offered by a bank in which a depositor (someone who has money to put into the bank) agrees to commit a certain amount of money for a set period of time, in return for a fixed rate of interest. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.
The time period in which money is held in a certificate of deposit is called the term. Terms can run for any period of time but in general, banks use the following terms: 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months. Terms can either be described in months or years. The term that is right for each individual depends on their goals, the rate they which to earn, and their future plans for the money. In general, if rates are going up, savers should avoid putting the money into a long-term CD. If rates are going down, then the opposite is true, and savers should try and lock into a good rate for an extended period of time. In stable rate environments, CDs that are over 12 months in length can enable depositors to pick up a slight premium over savings accounts.
Almost all banks provide CDs to their consumers and they have been a mainstay of savers and retirement accounts for years. If FDIC insured, the CD represents a safe place to put money that will generate a predictable return.
Inflation is the main risk of a CD. Inflation can often run higher than the inflation adjusted return on a CD, thus eroding the value of the money stored in the CD over time. This is especially true for longer-term CDs opened in low interest rate environments.
The method of distributing the interest earned on a CD varies by bank. Some banks pay interest monthly, other semi-annually, and others at the maturity of the CD. One advantage of a branch-based bank is that a depositor can walk into the bank and receive their interest that day in the form of a check. Online banks tend to use electronic funds transfer or check via mail.
Since the financial crisis in 2008, CDs have become less popular because the yields they offer have dropped precipitously, making it difficult for retirees and savers to generate sufficient income. But investors looking for a place to stash some cash might still find CDs an attractive place for some of their savings. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.
When interest rates are falling, it is often preferable to lock in high rates for an extended period of time with a longer-term CD. When interest rates are rising, depositors should avoid committing their money for long periods of time. To see interest rate trends, visit the BestCashCow rate analysis page.
All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, you visit the FDIC website.
To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.
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