Best 5-Year CD Rates in Mississippi, MS

You are viewing rates from banks across Mississippi

Below are 5-year CD Rates from banks that are located in Mississippi. 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.

MS - November 16, 2024

5 Year CD National Average : 0.92% ^?

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)
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)
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)
Grand Bank for Savings, FSB	1.50%	$10,000	-	Learn More Add Review
Planters Bank & Trust Company	1.41%	$2,500	-	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)
Delta Bank	1.26%	$100,000	-	Learn More Add Review
Citizens Bank & Trust Co.	1.21%	$10,000	-	Learn More Add Review
First Financial Bank	1.21%	$10,000	-	Learn More Add Review
Concordia Bank & Trust Company	1.15%	$100,000	-	Learn More Add Review
Delta Bank	1.11%	$10,000	-	Learn More Add Review
Commerce Bank	1.10%	$10,000	-	Learn More Add Review
The Jefferson Bank	1.10%	$10,000	-	Learn More Add Review
First National Bank of Picayune	1.05%	$10,000	-	Learn More Add Review
Bank of Yazoo City	1.00%	$500	-	Learn More Add Review
Magnolia State Bank	1.00%	$1,000	-	Learn More Add Review
Bank of Commerce	1.00%	$10,000	-	Learn More Add Review
United Mississippi Bank	1.00%	$10,000	-	Learn More Add Review
First Bank	1.00%	$10,000	-	Learn More Add Review
Bank of Anguilla	1.00%	$10,000	-	Learn More Add Review
Bank of Franklin	1.00%	$10,000	-	Learn More Add Review
Concordia Bank & Trust Company	1.00%	$10,000	-	Learn More Add Review
Richton Bank & Trust Company	1.00%	$10,000	-	Learn More Add Review
FIRST COMMERCIAL BANK	0.95%	$10,000	-	Learn More Add Review
The Peoples Bank	0.95%	$100,000	-	Learn More Add Review
First Federal Savings and Loan Association	0.95%	$100,000	-	Learn More Add Review
First National Bank of Clarksdale	0.90%	$10,000	-	Learn More Add Review
CB&S Bank, Inc.	0.90%	$10,000	-	Learn More
Terry \| Jun 7, 2018 Fabulous bank Read More Reviews (1)
Pike National Bank	0.90%	$500	-	Learn More Add Review
The Peoples Bank	0.85%	$10,000	-	Learn More Add Review
Home Bank, National Association	0.85%	$10,000	-	Learn More Add Review
First State Bank	0.85%	$100,000	-	Learn More Add Review
Citizens Bank	0.85%	$1,000	-	Learn More Add Review
First Southern Bank	0.85%	$10,000	-	Learn More Add Review
Bank of Okolona	0.80%	$10,000	-	Learn More Add Review
Bank of Kilmichael	0.80%	$10,000	-	Learn More
DPB3633 \| Dec 17, 2021 What is a bank ACH number? Read More Reviews (1)
Bank of Winona	0.80%	$10,000	-	Learn More Add Review
Great Southern Bank	0.80%	$10,000	-	Learn More Add Review
First State Bank	0.75%	$100,000	-	Learn More Add Review
Farmers and Merchants Bank	0.75%	$10,000	-	Learn More Add Review
Merchants and Planters Bank	0.75%	$100,000	-	Learn More Add Review
Peoples Bank Restrictions	0.75%	$10,000	-	Learn More Add Review
First State Bank	0.75%	$10,000	-	Learn More Add Review
Oxford University Bank	0.70%	$10,000	-	Learn More Add Review
Merchants and Planters Bank	0.70%	$10,000	-	Learn More Add Review
First Federal Savings and Loan Association	0.70%	$10,000	-	Learn More Add Review
Community Spirit Bank	0.65%	$10,000	-	Learn More Add Review
Trustmark National Bank	0.65%	$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)
The Citizens Bank of Philadelphia, Mississippi	0.65%	$10,000	-	Learn More Add Review
Guaranty Bank and Trust Company	0.61%	$100,000	-	Learn More Add Review
First State Bank	0.60%	$10,000	-	Learn More Add Review
First Security Bank	0.60%	$100,000	-	Learn More Add Review
The First, A National Banking Association	0.60%	$10,000	-	Learn More Add Review
The Bank of Forest	0.60%	$10,000	-	Learn More Add Review
Covington County Bank	0.60%	$10,000	-	Learn More Add Review
Guaranty Bank and Trust Company	0.56%	$10,000	-	Learn More Add Review
BankPlus	0.55%	$1,000	-	Learn More Add Review
First Security Bank	0.55%	$10,000	-	Learn More Add Review
Community Bank of Mississippi	0.55%	$10,000	-	Learn More Add Review
BNA Bank	0.55%	$10,000	-	Learn More Add Review
Holmes County Bank & Trust Company	0.55%	$10,000	-	Learn More Add Review
PriorityOne Bank	0.55%	$10,000	-	Learn More
Archie \| Feb 8, 2017 25000 Read More Reviews (1)
Century Bank	0.55%	$10,000	-	Learn More Add Review
The Peoples Bank, Biloxi, Mississippi	0.50%	$10,000	-	Learn More Add Review
FSNB, National Association	0.50%	$10,000	-	Learn More Add Review
The Commercial Bank	0.50%	$10,000	-	Learn More Add Review
Merchants & Marine Bank	0.50%	$10,000	-	Learn More Add Review
Southern Bancorp Bank	0.40%	$10,000	-	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)
The Citizens National Bank of Meridian	0.35%	$10,000	-	Learn More Add Review
BankFirst Financial Services	0.35%	$10,000	-	Learn More Add Review
Renasant Bank	0.25%	$10,000	-	Learn More
rand \| Mar 25, 2019 CDs shown are not offered in Knoxville area Read More Reviews (1)
Origin Bank	0.25%	$10,000	-	Learn More
Ralph \| Nov 26, 2019 They might be covered but they do little to safeguard your money. I was hacked, the hackers posed as bank employees accessed my account and made payments to fraudulent accounts. I had to explain to them wh... Read More Reviews (1)
Paragon Bank	0.25%	$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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Mississippi 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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