Best 5-Year CD Rates in Alabama, AL

You are viewing rates from banks across Alabama

Below are 5-year CD Rates from banks that are located in Alabama. Five-Year Certificates of Deposit (CD) are generally the longest term CD that most banks will offer. They tend to offer the highest rates but require the longest commitment. Five year CDs are especially popular in a declining interest rate environment as depositors can lock money in at the highest rate possible for the longest period of time. They are also popular with depositors who are willing to lock up money for five years in return for extra yield.

AL - November 27, 2024

5 Year CD National Average : 0.91% ^?

Banks	APY	MIN	MILES ^?
Seattle Bank	3.75%	$1,000	-	Learn More
Early Withdrawal Penalty is 180 days interest. Rate History: 4.55% → 4.50% → 4.15% → 4.00% → 3.75%
Rob H. \| Nov 21, 2023 A real pain in the *** process to try and get approved! They were unable to match my drivers license photo with my live image after several times trying! Went to limelight bank instead and got approved in ... Read More Reviews (2)
EvaBank	3.56%	$1,000	-	Learn More Add Review
Capital One, National Association	3.50%	$0	-	Learn More
Rate History: 4.00% → 3.90% → 3.75% → 3.50%
highstream \| Jan 2, 2024 Like others, I've been with Capital One and its predecessor ING Direct since 2007. I've also been getting cheap bank rates on my savings account and didn't realize that there was something better, although... Read More Reviews (14)
Ivy Bank, a division of Cambridge Savings Bank	3.25%	$0	-	Learn More Add Review
Rate History: 2.60% → 3.25%
lrcbob \| Jul 26, 2024 Multiple roadblocks trying to set up a savings account with Ivy Bank and my application was ultimately declined, in spite of my multiple CDs among three banks, stock investments, eleven credit cards, and c... Read More
Citizens	3.00%	$5,000	-	Learn More
Dana E. \| Mar 20, 2016 Good solid bank. Read More Reviews (1)
Gateway First Bank	2.90%	$500	-	Learn More
JohnC \| Oct 11, 2020 You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag... Read More Reviews (3)
Bank Independent	2.51%	$1,000	-	Learn More Add Review
Rate History: 3.01% → 4.01% → 2.51%
USAA Federal Savings Bank	2.50%	$1,000	-	Learn More
RYAN S \| Nov 28, 2022 While USAA was at one point a great option for all your banking needs, the service has deteriorated so much that I'm currently in the process of changing banks after more than 2 decades. The final straw w... Read More Reviews (2)
Citibank, National Association	2.00%	$0	-	Learn More
Azoic \| Feb 25, 2022 I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account. Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary. Accelerate Savings w... Read More Reviews (11)
JPMorgan Chase Bank, National Association	2.00%	$10,000	-	Learn More
Rate History: 2.00% → 2.50% → 2.00%
Hayley7788d@outlook.com \| Jan 2, 2023 Terrible customer service by investment side. Fees too high , too full of themselves Read More Reviews (18)
Farmers and Merchants Bank	1.76%	$1,000	-	Learn More Add Review
Rate History: 2.01% → 1.76%
Sweet Water State Bank	1.76%	$10,000	-	Learn More Add Review
Union State Bank	1.75%	$500	-	Learn More Add Review
The Citizens Bank	1.75%	$10,000	-	Learn More Add Review
The Farmers & Merchants Bank	1.51%	$10,000	-	Learn More Add Review
Cullman Savings Bank	1.50%	$10,000	-	Learn More Add Review
Metro Bank	1.50%	$10,000	-	Learn More Add Review
Millennial Bank	1.50%	$10,000	-	Learn More Add Review
Woodforest National Bank	1.35%	$500	-	Learn More
Rate History: 1.00% → 1.35%
Jabbroadway42 \| Nov 17, 2020 Is notarie services available today at a woodforest on wilkinson blvd Read More Reviews (2)
FirstState Bank	1.26%	$500	-	Learn More Add Review
NobleBank & Trust	1.25%	$10,000	-	Learn More
kdm0030 \| Jan 13, 2023 Disappointed! Wellsfargo is not great but better than Noble. Read More Reviews (1)
The Exchange Bank of Alabama	1.20%	$10,000	-	Learn More Add Review
First Bank of Alabama	1.16%	$10,000	-	Learn More Add Review
PeoplesTrust Bank	1.15%	$10,000	-	Learn More Add Review
CommerceOne Bank	1.11%	$10,000	-	Learn More Add Review
Peoples Bank of Alabama	1.10%	$10,000	-	Learn More Add Review
Bank of Brewton	1.05%	$10,000	-	Learn More Add Review
First Community Bank of Central Alabama	1.05%	$10,000	-	Learn More Add Review
Citizens Bank & Trust	1.05%	$10,000	-	Learn More Add Review
Central State Bank	1.01%	$10,000	-	Learn More
Bob Kuehner \| Apr 23, 2020 If you're not with Central State Bank and you're in business... why the heck not? I've been with CSB since 2007. In that time they've provided top tier service and a down home feel. My most recent exper... Read More Reviews (1)
Alamerica Bank	1.01%	$10,000	-	Learn More Add Review
South State Bank, National Association	1.00%	$500	-	Learn More
Justice \| Jul 22, 2021 This is a criminal lender and the worst bank. They merged with CenterState Bank.. They have made our lives miserable with a wrongful, fraudulent foreclosure. We will be starting a Website with all of the ... Read More Reviews (2)
The Southern Bank Company	1.00%	$10,000	-	Learn More Add Review
The Hometown Bank of Alabama	1.00%	$10,000	-	Learn More
OldCrone \| Mar 16, 2023 The branch manager is unavailable and doesnt care what goes on as long as he is not bothered. The tellers are rude and referr to customers who ask for help as " special needs customers". Read More Reviews (1)
First Southern State Bank	1.00%	$10,000	-	Learn More Add Review
First Community Bank of Cullman	1.00%	$500	-	Learn More Add Review
Citizens Bank & Trust, Inc.	1.00%	$500	-	Learn More Add Review
First Southern Bank	1.00%	$10,000	-	Learn More Add Review
SouthPoint Bank	1.00%	$10,000	-	Learn More Add Review
The Commercial Bank Of Ozark	0.98%	$10,000	-	Learn More Add Review
Southern States Bank	0.95%	$10,000	-	Learn More Add Review
First National Bank of Pulaski	0.95%	$10,000	-	Learn More
Tim, In Pulaski TN \| Aug 10, 2022 1st National Bank of Tennessee is not, in my opinion, a mobile friendly bank. Be aware that they do not have a 1-800 number on their cards. So, if it happens to be a weekend and you're out of town trying... Read More Reviews (1)
Liberty Bank	0.95%	$10,000	-	Learn More Add Review
First Jackson Bank, Inc.	0.90%	$1,000	-	Learn More Add Review
CB&S Bank, Inc.	0.90%	$10,000	-	Learn More
Terry \| Jun 7, 2018 Fabulous bank Read More Reviews (1)
Liberty Bank and Trust Company	0.90%	$10,000	-	Learn More Add Review
Commonwealth National Bank	0.85%	$10,000	-	Learn More Add Review
First Fidelity Bank	0.85%	$10,000	-	Learn More Add Review
MidSouth Bank	0.85%	$10,000	-	Learn More
Chadpatt \| Jun 14, 2021 I have banked with Midsouth for 4 years. I deposited a check that was for $6,000. I explained at the time of the deposit that I needed the mo ur available for my sons surgery that was in a few days. They t... Read More Reviews (1)
The First National Bank and Trust	0.80%	$10,000	-	Learn More Add Review
HNB First Bank	0.80%	$10,000	-	Learn More Add Review
Investar Bank, National Association	0.75%	$10,000	-	Learn More Add Review
Pinnacle Bank	0.75%	$10,000	-	Learn More Add Review
West Alabama Bank & Trust	0.75%	$1,000	-	Learn More
Gavin Howard \| Mar 4, 2023 OMB controller currency CFPB mortgage loans originator regulation G 3170-0005 requested full disclosure Read More Reviews (1)
First Federal Bank, A FSB	0.75%	$500	-	Learn More Add Review
Trustmark National Bank	0.75%	$10,000	-	Learn More
trbf15 \| Nov 4, 2020 Transfer cds to checking. Trustmark Madison ok, Not, 6 figures deposit lost for 6 days they say due to scanner error. Then when we go to branch office mgr. all huffy tht error upset because of their mist... Read More Reviews (1)
First Bank of Boaz	0.75%	$10,000	-	Learn More Add Review
ServisFirst Bank	0.71%	$10,000	-	Learn More Add Review
AuburnBank	0.70%	$500	-	Learn More Add Review
PeoplesSouth Bank	0.70%	$10,000	-	Learn More Add Review
Bryant Bank	0.65%	$100,000	-	Learn More Add Review
First State Bank of the South, Inc.	0.65%	$10,000	-	Learn More Add Review
FirstBank	0.65%	$10,000	-	Learn More Add Review
Community Spirit Bank	0.65%	$10,000	-	Learn More Add Review
The First, A National Banking Association	0.60%	$10,000	-	Learn More Add Review
Armed Forces Bank, National Association	0.60%	$10,000	-	Learn More
BENNIE BROOKS \| Mar 25, 2015 OLIVER NORTH AIR LINES GOVERNOR BLANCO Read More Reviews (2)
Synovus Bank	0.60%	$10,000	-	Learn More
deb \| Jun 11, 2015 Synovus no longer offers this rate as of 5/8/2015---I called and asked Read More Reviews (1)
Centennial Bank	0.55%	$10,000	-	Learn More
Asj \| Nov 15, 2020 Do they? Read More Reviews (1)
Community Bank of Mississippi	0.55%	$10,000	-	Learn More Add Review
Bryant Bank	0.55%	$10,000	-	Learn More Add Review
Robertson Banking Company	0.55%	$10,000	-	Learn More Add Review
Renasant Bank	0.55%	$10,000	-	Learn More
rand \| Mar 25, 2019 CDs shown are not offered in Knoxville area Read More Reviews (1)
BankPlus	0.55%	$1,000	-	Learn More Add Review
Century Bank	0.55%	$10,000	-	Learn More Add Review
Merchants & Marine Bank	0.50%	$10,000	-	Learn More Add Review
Citizens Trust Bank	0.50%	$10,000	-	Learn More Add Review
AmeriFirst Bank	0.50%	$10,000	-	Learn More Add Review
Southern Independent Bank	0.45%	$1,000	-	Learn More
Terrible on line account information. Doesn't work on the weekends and neither do they \| Jul 27, 2020 If you don't mind the web site for your account on the week ends being down. This is the bank for you. When you have a problem you have to wait one to two days for someone in charge to call you back after ... Read More Reviews (1)
First Cahawba Bank	0.45%	$10,000	-	Learn More Add Review
CCB Community Bank	0.40%	$500	-	Learn More Add Review
Citizens' Bank, Inc.	0.40%	$1,000	-	Learn More Add Review
U.S. Bank National Association	0.40% 0.25%	$1,000 $500	-	Learn More
Ugg \| Jun 12, 2023 US Bank reported me to dult Protective Services because my husband is 85 and I am63. He got sick and went into a nursing hime for 3 months. My husband always handled the financial affairs. I had to take ov... Read More Reviews (2)
BankFirst Financial Services	0.35%	$10,000	-	Learn More Add Review
Metro City Bank	0.33%	$1,000	-	Learn More
thedon \| Mar 29, 2020 have been waiting 8 weeks - yes 8 weeks for a closing date from this bank ..... they keep giving flimsy excuses requesting insignificant and unnecessary paperwork from us ( the seller ) the buyers who know... Read More Reviews (1)
Troy Bank & Trust Company	0.21%	$10,000	-	Learn More Add Review
Ameris Bank	0.20%	$10,000	-	Learn More
COLETTE B \| May 30, 2022 I HAVE TO AGREE WITH THE OTHER REVIEWERS. THIS BANK HAS THE WORST CUSTOMER SERVICE OF ALL TIME. I HAD NO CHOICE BUT TO GO HERE... IF THERE'S ANY WAY YOU CAN AVOID, IT IS HIGHLY RECOMMENDED. LET ME GIVE ... Read More Reviews (4)
First Horizon Bank	0.10%	$1,000	-	Learn More
D R Lineberger \| Dec 30, 2018 Garden14 Read More Reviews (1)
Friend Bank	0.10%	$10,000	-	Learn More Add Review
KeyBank National Association	0.05%	$2,500	-	Learn More
Rate History: 0.03% → 0.05%
Seeko \| Mar 28, 2023 On line banking gives a confirmation number when paying bills. But it doesn’t confirm that the bill will be paid only that they have the information. Ridiculous. Read More Reviews (2)
Regions Bank	0.05% 0.01%	$2,501 $2,500	-	Learn More Add Review
Rate History: 0.03% → 0.05%
PNC Bank, National Association	0.03%	$25,000	-	Learn More
GAM \| May 18, 2019 Had checking and savings for years when living in Philly. Went into PNC 2.35 APY high yield savings. They have thus far maintained rate. Easy web site and great customer phone service. Still maintain check... Read More Reviews (1)
Bank of America, National Association	0.03%	$100,000	-	Learn More
Treasure \| Jul 24, 2023 BOFA is a den of people thieves camouflaged as bank operatives. There’s a soon to be uncovered carrel of money laundry there. They took all my money and don’t want to release it to me for no particular... Read More Reviews (7)

All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

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PRODUCT INFORMATION

Five Year CDs - Branch Banks 2024

Five-year CDs are the big kahuna of the CD world. While banks may offer six-year, seven-year, or even 10-year CDs, the five-year is the longest of the most commonly offered terms. The 5-year CD is therefore often the highest offer at your local bank. Therefore, the temptation for those looking for yield is to open one, deposit money, and forget about it for five years. This could be a mistake. In rising rate environments a five-year CD may not be a good investment.

Safety

Like every other CD term, five year CDs from FDIC insured banks are protected up to FDIC limits (generally $250,000 per account holder per bank). If your deposit is over the FDIC limit then you may not receive the uninsured money in case of a bank failure.

Inflation

The principle threat to a a five year CD is inflation. If the CD is opened in a low rate environment, and rates and inflation subsequently rise, then inflation will erode the value of the certificate of deposit over its five years. For example, if a depositor opened a five year CD in year 1 with a yield of 2.05% APY and inflation at 1.5%, then the real return is .55 percentage points. But if inflation rises the next year to 2.5% and stays there for the next four years, then the CD in real terms is losing money every year: 2.05% - 2.5% = -.45%.

While it is impossible for anyone to predict too far into the future, savers should be cognizant of the economic environment before locking up money for a five year time-period. Our rate analysis page provides some insight into where we think rates will go.

On the other hand, if rates are falling and will continue to do so for some time due to an economic recession then it makes sense to lock in a higher rate with a five year CD. Savers who opened five year CDs in 2008 immediately after the financial crisis were able to lock in rates in the 6% range, a great move considering two years later a five year CD paid below 3%.

Interest

Five-year CDs currently pay about 1.00% more in interest than a one year CD. In general, CDs of this duration are best opened as part of a laddered CD portfolio or if the depositor thinks that rates will either stagnate or drop over the next couple of years.

Opening a Five Year CD

Opening a five year CD in a branch is relatively easy and similar to every other CD term. Most banks require the customer be a resident of the United States and most branch-based banks ask that the account be opened in the bank. Funding can be performed by transferring money that is already located at that bank or by check or ACH transfer from another bank. The CD can be opened that day and the rate locked.

With longer term CDs, savers should make sure they put a record of the CD in a safe place and that if they move, they forward their new address to the bank. In cases where the bank cannot find the CD holder, the bank may hand the funds over to a state authority as a lost deposit, and it will require onerous paperwork to reclaim the money.

ADVANTAGES AND DISADVANTAGES OF FIVE YEAR CDs

Advantages of five year CDs

5 year CDs provide the highest rate of the common CD terms.
The return is fixed for five years, which is an advantage in a flat or falling rate environment.

Disadvantages of five year CDs

The money is locked away for five years and cannot be withdrawn without a substantial penalty.
In a rising rate environment, inflation will reduce the value of the money in the CD over time.
Branch CDs require the saver to visit a branch and be subjected to cross-sell pitches and other marketing tactics.

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, please 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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Alabama CD Rates – 5-Year

PRODUCT INFORMATION

Five Year CDs - Branch Banks 2024

Safety

Inflation

Interest

Opening a Five Year CD

ADVANTAGES AND DISADVANTAGES OF FIVE YEAR CDs

Advantages of five year CDs

Disadvantages of five year CDs

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