Best CD Rates in Homewood, Alabama, AL

You are viewing rates from banks across Homewood

Below are the best one-year CD Rates from banks in Homewood, 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.

Homewood, AL - December 22, 2024

1 Year CD National Average : 0.55% ^?

Banks	APY	MIN	MILES ^?
Bank of Frankewing	5.22%	$500	-	Learn More Add Review
Rate History: 4.00% → 5.22%
EvaBank	4.50%	$1,000	-	Learn More Add Review
Valley National Bank	4.00%	$500	-	Learn More
SadSack \| Dec 2, 2022 No such limits as referred to by Jonathan. Perfectly Happy with service and keep adjusting the rate! Read More Reviews (2)
Wells Fargo Bank, National Association	3.25% 2.75%	$100,000 $25,000	-	Learn More
Rate History: 2.00% → 1.50% → 3.25%
Thy King \| Feb 6, 2023 after over 100k in transactions through this bank in the course of a year not only did i suffer from fraud but this bank closed my accounts and i have been lliable for all the losses and to top it off with... Read More Reviews (7)
Bank Independent	3.01%	$1,000	-	Learn More Add Review
Rate History: 4.01% → 4.53% → 4.02% → 3.02% → 3.01%
Woodforest National Bank	2.75%	$500	-	Learn More
Rate History: 1.70% → 3.00% → 2.75%
Jabbroadway42 \| Nov 17, 2020 Is notarie services available today at a woodforest on wilkinson blvd Read More Reviews (2)
Union State Bank	1.25%	$500	-	Learn More Add Review
Farmers and Merchants Bank	1.15%	$1,000	-	Learn More Add Review
Rate History: 1.00% → 1.15%
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)
22nd State Bank	0.85%	$10,000	-	Learn More Add Review
The Exchange Bank of Alabama	0.80%	$10,000	-	Learn More Add Review
Brantley Bank and Trust Company	0.75%	$10,000	-	Learn More Add Review
The Citizens Bank	0.75%	$10,000	-	Learn More Add Review
Peoples Independent Bank	0.75%	$10,000	-	Learn More
$Theta88008 \| Feb 9, 2024 Last week we called the People's Independent main branch to gain an understanding of the institution, a normal procedure for any family. We do not live in Boaz, AL, so we thought we could have our question... Read More Reviews (1)
Millennial Bank	0.75%	$10,000	-	Learn More Add Review
Southern States Bank	0.75%	$10,000	-	Learn More Add Review
Metro Bank	0.75%	$10,000	-	Learn More Add Review
FirstState Bank	0.75%	$500	-	Learn More Add Review
Liberty Bank	0.71%	$10,000	-	Learn More Add Review
ServisFirst Bank	0.71%	$10,000	-	Learn More Add Review
Alamerica Bank	0.66%	$10,000	-	Learn More Add Review
First Federal Bank, A FSB	0.60%	$500	-	Learn More Add Review
First Jackson Bank, Inc.	0.60%	$1,000	-	Learn More Add Review
First State Bank of DeKalb County	0.60%	$10,000	-	Learn More Add Review
Citizens Bank & Trust	0.60%	$10,000	-	Learn More Add Review
The Farmers & Merchants Bank	0.50%	$10,000	-	Learn More Add Review
Central State Bank	0.50%	$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)
First Citizens Bank	0.50%	$10,000	-	Learn More Add Review
PeoplesTrust Bank	0.50%	$10,000	-	Learn More Add Review
Merchants & Marine Bank	0.50%	$10,000	-	Learn More Add Review
NobleBank & Trust	0.50%	$10,000	-	Learn More
kdm0030 \| Jan 13, 2023 Disappointed! Wellsfargo is not great but better than Noble. Read More Reviews (1)
Pinnacle Bank	0.50%	$10,000	-	Learn More Add Review
Citizens Bank & Trust, Inc.	0.50%	$500	-	Learn More Add Review
West Alabama Bank & Trust	0.50%	$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)
The Southern Bank Company	0.50%	$10,000	-	Learn More Add Review
First Bank of Boaz	0.50%	$10,000	-	Learn More Add Review
The Commercial Bank Of Ozark	0.48%	$10,000	-	Learn More Add Review
Robertson Banking Company	0.40%	$10,000	-	Learn More Add Review
First Southern State Bank	0.40%	$10,000	-	Learn More Add Review
Cullman Savings Bank	0.40%	$10,000	-	Learn More Add Review
HNB First Bank	0.40%	$10,000	-	Learn More Add Review
SouthPoint Bank	0.40%	$10,000	-	Learn More Add Review
First Community Bank of Central Alabama	0.40%	$10,000	-	Learn More Add Review
MidSouth Bank	0.40%	$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)
CCB Community Bank	0.40%	$500	-	Learn More Add Review
The Samson Banking Company, Inc.	0.40%	$10,000	-	Learn More Add Review
PeoplesSouth Bank	0.40%	$10,000	-	Learn More Add Review
The First National Bank and Trust	0.35%	$10,000	-	Learn More Add Review
CB&S Bank, Inc.	0.35%	$10,000	-	Learn More
Terry \| Jun 7, 2018 Fabulous bank Read More Reviews (1)
FirstBank	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)
Liberty Bank and Trust Company	0.31%	$10,000	-	Learn More Add Review
AuburnBank	0.30%	$500	-	Learn More Add Review
First Fidelity Bank	0.30%	$10,000	-	Learn More Add Review
Community Spirit Bank	0.30%	$10,000	-	Learn More Add Review
Peoples Bank of Alabama	0.30%	$10,000	-	Learn More Add Review
Armed Forces Bank, National Association	0.30%	$10,000	-	Learn More
BENNIE BROOKS \| Mar 25, 2015 OLIVER NORTH AIR LINES GOVERNOR BLANCO Read More Reviews (2)
Bryant Bank	0.30%	$100,000	-	Learn More Add Review
First Bank of Alabama	0.25%	$10,000	-	Learn More Add Review
Citizens Trust Bank	0.25%	$10,000	-	Learn More Add Review
First Southern Bank	0.25%	$10,000	-	Learn More Add Review
First Community Bank of Cullman	0.25%	$500	-	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)
Community Bank and Trust - Alabama	0.25%	$10,000	-	Learn More Add Review
First State Bank of the South, Inc.	0.25%	$10,000	-	Learn More Add Review
Sweet Water State Bank	0.25%	$10,000	-	Learn More Add Review
First Cahawba Bank	0.25%	$10,000	-	Learn More Add Review
Oakworth Capital Bank	0.25%	$10,000	-	Learn More Add Review
BankFirst Financial Services	0.25%	$10,000	-	Learn More Add Review
Southern Independent Bank	0.23%	$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)
Peoples Exchange Bank	0.20%	$10,000	-	Learn More Add Review
First National Bank of Pulaski	0.20%	$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)
Citizens Trust Bank	0.20%	$100,000	-	Learn More Add Review
The First National Bank of Hartford	0.20%	$10,000	-	Learn More Add Review
AmeriFirst Bank	0.20%	$10,000	-	Learn More Add Review
Bryant Bank	0.20%	$10,000	-	Learn More Add Review
Community Bank of Mississippi	0.20%	$10,000	-	Learn More Add Review
Centennial Bank	0.20%	$10,000	-	Learn More
Asj \| Nov 15, 2020 Do they? Read More Reviews (1)
The First, A National Banking Association	0.20%	$10,000	-	Learn More Add Review
Century Bank	0.20%	$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)
Commonwealth National Bank	0.16%	$10,000	-	Learn More Add Review
Bank of Brewton	0.15%	$10,000	-	Learn More Add Review
Phenix-Girard Bank	0.15%	$10,000	-	Learn More
username \| Nov 5, 2021 only if you are a customer Read More Reviews (5)
Trustmark National Bank	0.15%	$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)
Troy Bank & Trust Company	0.11%	$10,000	-	Learn More Add Review
Citizens' Bank, Inc.	0.10%	$1,000	-	Learn More Add Review
Synovus Bank	0.10%	$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)
Friend Bank	0.10%	$10,000	-	Learn More Add Review
Regions Bank	0.03% 0.01%	$2,501 $2,500	-	Learn More Add Review
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)

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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BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

Certificates of Deposit - Branch Banks 2024

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.

CD Terms

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.

CD Risk

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.

How Interest is Paid

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.

Interest Rate

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.

ADVANTAGES AND DISADVANTAGES

The advantages of a Certificate of Deposit from a branch bank are:

Funds deposited in FDIC banks and within insurance limits are protected by the full faith and credit of the United States government.
CDs provide a predictable, set rate of return.
Depositors can walk into a local branch and open the CD and fund it that day. Question and inquiries can also be handles in-person.

The disadvantages of branch-based CDs are:

The deposited money is committed for a certain period of time and can only be withdrawn with substantial penalties.
One year CDs from branch banks often pay less interest than from online banks. Please see those rates here.

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.

SAVINGS & CD CALCULATOR

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Homewood, Alabama CD Rates

PRODUCT INFORMATION

Certificates of Deposit - Branch Banks 2024

CD Terms

CD Risk

How Interest is Paid

Interest Rate

ADVANTAGES AND DISADVANTAGES

The advantages of a Certificate of Deposit from a branch bank are:

The disadvantages of branch-based CDs are:

SAVINGS & CD CALCULATOR

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