Highest Alabama CD (Certificate of Deposit) Rates

Certificates of deposit allow depositors to earn higher income than what's given by a typical savings account. Yet, with the internet, finding the best rates is a tough chore. Even with comparison sites, there is still no guarantee you can get the best deal. Hence, it is best to look for reviews of the top banks in your area. Alabama's number one highest yield CD rates come from Ally Bank. Other banks compete for the next spot's highest Alabama's CD (Certificate of Deposit) rates.

Compare the Best CD Rates in Alabama

Account Type:
Certificates of Deposit
Amount:
Term:



Ally Bank Tops the Alabama CD Rates Leaderboard

The highest AL-Alabama CD (Certificate of Deposit) Rate for High Yield CD goes to Ally bank for offering competitive rates and promising terms.

Ally Bank has been offering remarkable rates: 2.90% in its 5 year CD, 2.43% for its 4 year CD, 2.22% for the 3 year CD and 1.59% for the 18 month. The short term CDs have rates ranging from .69% to 1.47% pertaining to the 3 month to 12 month CDs. Ally Bank does not require a minimum deposit and has an automatic renewal upon maturity feature. It also has a ten day grace period that is counted from the date of maturity when making a withdrawal charge-free. Ally Bank CDs charges depositors a withdrawal fee that is equal to a 60 days' interest for withdrawals before maturity date. It doesn't also charge monthly fees and is a member of FDIC. Interest method is used for computing the finance revenues and depositors may check the details in their Deposit Agreement.

In Dothan and Vernon, the second leader of Alabama CD rates goes to BBVA Compass Bank who gives 0.15% to its 3 month CD, 0.40% to 6 month CD, 1.09% to its twelve month CD, 1.20% for the two year, 1.34% to its 3 year and 2.08% to its 5 year CD. BBVA Compass took the first spot for the 2.5 year CD since Ally Bank doesn't have a 2.5 year CD.

In Eufaula, Farmers Exchange Bank offers the second highest AL-Alabama CD (certificate of deposit) rate with a 1.00% on its 3 month CD, 1.75% on its 6 month, 1.95% for its 1 year, 2.36 for its 2 year and 2.85% for its 3 year. First National Bank of Baldwin County is the second high CD yield rate bank in Fairhope. The rates are 0.90%, 1.05%, 1.25%, 1.70%, 1.60%, 2.05% and 2.70% for the 3 month, 6 month, 1 year, 2 year, 2.5 year, 3 year and 5 year CDs. Huntsville's second highest rate, still next to Ally Bank, goes to both RBC Bank and BBVA Compass. RBC's rates are slightly higher than BBVA Compass on the short term CDs and the 2 year, 2.5 year and 3 year CDs. BBVA Compass gives higher gains on other CD types. Bank Trust from Mobile has higher CD rates than RBC Bank and BBVA Compass. In Tuscaloosa, BBVA Compass ranks as third, with Bryant Bank being the second.

Overall, Ally Bank is still in the number one hot seat for high yield CDs. BBVA Compass Bank and RBC also gave impressive CD APRs and APYs. But Alabama's big local banks have likewise contributed to the growing CD investments in the state of Alabama. Alabama Central Credit Union is also an overall high achiever with a CD rate of .946% and 1.00% APY for its 6 month CD as of March. Its 1 year has an APR of 1.656% and an APY of 1.75%. Its 3 year CD has a 1.66% APR, 4 year with 2.02% and 5 year of 2.52%.

Investors may purchase the CDs from the above mentioned banks and credit union, but it is also advisable to shop for the national CD interest rates.

CD Rates by State:

ONLINE SAVINGS ACCOUNT

  • No minimum balance
  • Competitive rates, No risk

MONEY MARKET ACCOUNT

  • High rates, Access to money
  • FDIC Insured

CD Types


CDs Overnight Averages

Product
Yield
+/-
Last week


3 Mo CD
0.11
Up
-1.00


6 Mo CD
0.17
Up
-1.00


1 Yr CD
0.26
Up
-1.00


1.5 Yr CD
0.33
Up
-1.00


5 Yr CD
1.02
Up
-1.00


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