Bank of Little Rock is currently offering 3.04% APY on its 5-year CD. The minimum opening deposit for any Bank of Little Rock CD is $500.
DA began tracking the 5-year CD in November 2018, when it was added to the product line earning 3.00% APY. The rate inched up to 3.04% APY in March, where it has remained.
As stated in the fine print on the Certificate of Deposit landing page, the Early Withdrawal Penalty reads as follows:
Early withdrawals may result in six months loss of interest.
CSR confirmed that partial withdrawals are allowed, with the penalty applying to the amount being withdrawn.
Unlimited beneficiaries (equal shares) can be named and Social Security numbers are required for all beneficiaries.
Maturing funds will be distributed by cashier’s check, either in-person at a branch location or mailed to the address on file. There is a 10-day grace period before the CD automatically renews.
Thanks to DA reader, Human, for the comment about this CD.
Headquartered in Little Rock, Arkansas, the Bank of Little Rock offers its CDs to all U.S. citizens and resident aliens who live in Arkansas. Unlike the Bank of Little Rock Kasasa Cash/Kasasa Saver accounts I wrote about earlier this week, CDs cannot be opened online.
Opening a CD can be done at any of the five full-service Arkansas branches located throughout Little Rock.
Bank of Little Rock has an overall heath grade of "B+" at DepositAccounts.com, with a Texas Ratio of 14.97% (above average) based on June 30, 2019 data. Bank of Little Rock has an excellent capitalization level (12.16%), the resulting of holding $197.18 million in assets with $23.98 million in equity. Please refer to our financial overview of Bank of Little Rock (FDIC Certificate # 91280) for more details.
The original Hallmark Loan and Investment Company was founded in 1927 and was not FDIC insured for the first 60 years. Following the establishment of FDIC insurance in 1987, the Bank rebranded as Bank of Little Rock in 1989, as it expanded its services to become a full-service, commercial bank.
How the CD Compares
When compared to 205 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to Arkansas residents, Bank of Little Rock’s 5-year CD APY currently shares the top spot with Telcoe Federal Credit Union’s 5-year CD APY.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|3.04% APY||5-Year CD||Bank of Little Rock|
|3.00% APY||60-Month CD||Hanscom Federal Credit Union|
|2.98% APY||60-Month Certificate||State Department Federal Credit Union|
The above rates are accurate as of 9/20/2019.
To look for the best CD rates, both nationwide in state specific, please refer to our CD Rates Table page.