EvaBank (AL) Offers Competitive 36-Month CD Statewide


Deal Summary: 36-month CD, 5.13% APY, $1k minimum deposit

Availability: Alabama (online application).

EvaBank is currently offering 5.13% APY on its 36-month CD. The minimum opening deposit is $1k, with no stated balance cap. The 36-month CD is the most competitive certificate in the EvaBank product line, having gained 285 bps since July.

As stated on the EvaBank CD Additional Account Requirements page, the Early Withdrawal Penalty reads as follows:

We will impose a penalty if you withdraw any of the balance before the maturity date.
The imposed will equal 3 months of interest if the Time Deposit term is less than
12 months or 6 months of interest if the Time Deposit term is 12 months or longer.

Availability and Account Opening

Headquartered in Eva, Alabama, EvaBank is a “small independently owned and controlled bank,” but currently offers a limited number of products (including CDs) on statewide basis to U.S. citizens (18 years or older) with a valid Social Security number and a physical address in Alabama.

Opening a CD can be done online or at any of eight full-service Alabama branches located in Arab, Birmingham, Cullman (2), Decatur (2), Eva, and Madison.

Funding and Other Details

The following information is from a conversation with CSR.

  • Funding – ACH, wire ($5 fee), check (in-branch), internal transfer.
  • Ownership – Individual, joint, or trust (in-branch opening only for a trust account).
  • Interest – Compounded daily/credited annually; can be withdrawn penalty-free by check or ACH.
  • Maturing Funds – Cashier’s check to address on file or internal transfer to a savings/checking account.
  • Beneficiaries – Unlimited and percentages can be assigned; Social Security numbers are preferred but not required.
  • Grace Period – 10 calendar days before automatic renewal.
  • Credit Check – Soft pull through Transunion.

Bank Overview

EvaBank has an overall health rating of "A" at DepositAccounts.com, with a Texas Ratio of 5.15% (excellent), based on September 30, 2023 data. In the past year, EvaBank has increased its total non-brokered deposits by $8.36 million, an excellent annual growth rate of 3.31%. Please refer to our financial overview of EvaBank (FDIC Certificate # 26799) for more details.

Established in 1986, the Bank’s original name was First Bank of Eva. The name was changed to EvaBank in 1997, with the “Eva” portion of the name being an acronym for “Every Valuable Advantage.” EvaBank is currently the 34th largest bank headquartered in Alabama, with assets in excess of $400 million.

How the 36-Month CD Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available nationwide, have fixed rates, and have minimum deposit requirements of $10k or less, one credit union has a higher rate than currently offered on the EvaBank 36-month CD. The following table compares the 36-month CD to the two highest-rate CDs from credit unions and the two highest-rate CDs from other banks.

The above information and rates are accurate as of 12/18/2023.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Birmingham CD rates, Huntsville CD rates, 5-year CD rates

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EvaBank (AL) Doubles 11-Month CD Special Rate
Deal Summary: 11-month CD Special, 2.30% APY, $1k minimum deposit

Availability: Market area is Northern Alabama.

EvaBank has doubled the rate on its 11-month CD Special (2.30% APY). Added to the product line more than two years ago, the 11-month CD Special’s APY held at 1.15% until yesterday. It can be opened with a minimum $1k deposit; there is no stated balance cap.

Considering the low rates for EvaBank’s other CD Specials (14-month, 1.41% APY and 30-month, 1.61% APY), I called the Bank to make sure the...

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EvaBank (AL) Adds 15-Month CD Special

UPDATE 7/20/2016: No longer available.

Availability: Market area is Northern Alabama

EvaBank recently added a 15-month CD Special (1.51% APY) to its product line. The minimum opening deposit is $1k, with no balance cap.

The 15-month CD Special is also be offered as an IRA (Traditional) earning the same APY, with the same funding requirements.

As stated on EvaBank’s CD Additional Requirements page, the Early Withdrawal Penalty reads as follows:

6 months of interest if the Time Deposit term is 12 months or longer.


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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.