AloStar Bank of Commerce is again offering competitive 1-year and 2-year CD rates. They're not quite as good as what it offered last April for its anniversary special, but they're near the top for CDs available nationwide. The two CD rates as listed in bank's CD rates page as of 9/6/2012 are:
- 1.11% APY 1-year CD
- 1.26% APY 2-year CD
Minimum deposit is $1,000. More CD details are listed in the bank's Truth-in-Savings disclosure. A link to this document is located below the rate table in the bank's CD rates page. I reviewed the opening and closing process along with the early withdrawal penalties in my April AloStar CD review.
AloStar Bank of Commerce Overview
On April 15, 2011, Nexity Bank failed. The FDIC arranged for the newly-chartered Alostar Bank of Commerce to assume all of Nexity deposits. AloStar continued to operate like Nexity Bank as an internet bank with savings, money market accounts and CDs. Its savings account account rates have always been a little below average for internet banks.
The bank has an overall health score at DepositAccounts.com of 4 stars (out of 5) based on June 2012 data. Please refer to our financial overview of AloStar Bank of Commerce for more details. The bank is a FDIC member (FDIC Certificate # 59060).
How These CD Rates Compare
The highest 1-year CD rate that's nationally available is 1.10% APY at CIT Bank and at Bank of Internet USA. CIT Bank's CD requires a $25K minimum deposit, but it has an add-on deposit and a bump-up rate option.
The highest 2-year CD rate that's nationally available is 1.30% APY at NexBank and at Connexus Credit Union. CIT Bank has a 1.25% APY 2-year CD. Like its 1-year CD, it has a $25K minimum deposit with an add-on deposit and a bump-up rate option.
These rates are accurate as of 9/6/2012.
Searching for Top CD Rates
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.