Review of AloStar Bank of Commerce’s CD Rates

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Updated on Friday, October 1, 2021

AloStar Bank of Commerce’s CD rates

Earn a guaranteed rate of return with competitive interest for select terms.



3 Month


6 Month


12 Month


18 Month


24 Month


36 Month


60 Month


  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: For a 3-month CD, the penalty is 1 month of interest. For all other CD terms, the penalty is 6 months of interest

AloStar Bank of Commerce’s CD product is pretty standard but the great thing for savers is the variety of terms offered. Since the bank is an online division of State Bank and Trust, customers can take advantage of higher CD rates than those offered at traditional brick-and-mortar banks like PNC Bank, Bank of America and Chase Bank.

The minimum opening deposit is pretty reasonable as it’s high enough that you can see a noticeable return from the interest earned on your CD when it matures.

The only fee associated with this product is the penalty you’ll pay if you withdraw any money before the maturity date. If so, you could wind up losing several months worth of interest which will defeat the purpose of locking money away in a CD.

The other downside about AloStar Bank of Commerce having such a simple list of personal banking products is that they currently don’t offer step-up CDs, IRA CDs, or bonus APY CDs.

Once your CD matures, you have a 10-day grace period to decide what to do with the money. You can close the account and withdraw the money, or you can renew it under the current interest rate at that time. If you do nothing, your CD will automatically renew when the 10 days is up for the same term you originally had. For example, if you take out a 12-month CD and never contact the bank when the maturity date arrives, it will just renew as another 12-month CD at whatever interest rate is currently being offered by that bank.

How to get AloStar Bank of Commerce’s CDs

You can apply online for an AloStar Bank of Commerce certificate of deposit. You’ll need to select the personal account option. You must be at least 18 years old and a U.S. citizen who resides outside the state of Georgia.

Completing the application only takes about 5 minutes, according to the website. You’ll be asked to supply the standard personal information in the process, including: address, phone number, and Social Security number; government-issued ID; and, existing checking account, debit card or credit card information to make the initial deposit

Once you submit it online, you should find out whether you’ve been approved within 24 business hours. After approval, you’ll receive your new account documents within 3-5 business days. You must fund your account and sign and return those documents within 14 business days from approval.


on AloStar Bank Of Commerce’s secure website

Member FDIC

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How AloStar Bank of Commerce’s CD rates compare

AloStar Bank of Commerce’s certificates of deposit have much higher rates than traditional banks. However, their rates almost fall right in line when compared to some of the best CD rates found at other online banks.

And while their rates for their 12-month, 18-month, and 24-month CDs are just as good as many of the top competitors, their minimum opening deposit requirement is lower than most other online banks. That makes it easier for customers to find the money to open an account.

Overall review of AloStar Bank of Commerce’s banking products

If you’re looking for a basic fixed-rate CD without all the bells and whistles, AloStar Bank of Commerce is a solid contender even though their interest rate isn’t up there with the top online banks. You can easily apply online and don’t have to worry about any fees so long as you don’t withdraw your money before the CD matures.

AloStar Bank of Commerce keeps it simple. If you want more variety of CD products or bonus APY offers, you’ll want to look elsewhere.