Several banks nowadays usually offer different rates for certificate of deposits that change from time to time. If you’re already thinking about investing in one, you may want to consider placing your money with AloStar Bank of Commerce. Effective December 28, 2011; AloStar Bank of Commerce offers the highest CD rate for a CD period of six months which is 0.760%, a rate which is 0.020% higher than its counterpart, Ally Bank.
Comparing the Top Three
The latest comparison of rates show that AloStar Bank of Commerce gives out an Annual Percentage Yield of 0.760%, followed by Ally Bank which offers a six-month CD rate of 0.740% and CIT Bank which offers a 0.450% CD rate, all of which are compounded daily. With a minimum deposit of $1000, you can already avail of AloStar Bank’s six-month CD Rate. Thus, after a year’s worth of having this certificate of deposit with AloStar Bank, your minimum deposit of $1000 can go to as much as $1760, that’s almost double your initial deposit! How much more if you deposited an even larger amount.
AloStar Bank’s CD Rates
30 Day CD – 0.26% APY
90 Day CD – 0.41% APY
6 Month CD – 0.76% APY
9 Month CD – 0.95% APY
12 Month CD – 1.03% APY
24 Month CD* 1.19% APY
National Average for 6 month CD: 0.22%
*Minimum Initial Deposit: $1,000 to open.
Getting It Started
In order for you to avail of this high rate, you could either open a certificate of deposit account personally with any of AloStar Bank’s branches or download a PDF form from their website and just fill out all the necessary information. You may be required to present your Driver’s License or any other identifying documentation and your Social Security Number. They also have some standby Customer Service Representatives that will assist you with your needs.
About AloStar Bank of Commerce
AloStar bank of Commerce is a National bank with a vast coverage of depositors in over forty-eight states. Its headquarters is in Birmingham, Alabama with a commercial office in Atlanta. Through dedication and passion for service, they sought to be the guiding light in the world of commerce with several branches nationwide that caters financial and banking services personally and online.