Interest Rates in Every State: Best Interest Rates in Alabama

Posted in Banking , Best Interest Rates , CD Rates , Savings Account • January 21, 2013

alabama credit unionConsidering the rock-bottom interest rates offered on most savings and CD accounts these days, it’s especially important for savers to find the highest rates available. Often, the best offers are found at local banks and credit unions, which is why Go Banking Rates is continuing in its Best Rates in Every State series with Alabama.

We’re finding the institutions offering the best rates on deposit accounts, and examining how rates in the state of Alabama compare to the rest of the nation. Average deposit account interest rates from Alabama banks and credit unions are shown below and compared to the national average. Read on to see how Alabama’s average rates for savings accounts, 6-month CDs, 1-year CDs and 2-year CD accounts stack up against the rest of the states, and find out which banks and credit unions in Alabama are offering the highest interest rates in each category.

Deposit Account National Averages

Account Type Average Rate
6-Month CD 0.31% APY
1-Year CD 0.46% APY
2-Year CD 0.69% APY
Savings Account 0.21% APY

Average Alabama Interest Rates

Account Type Average Rate
6-Month CD 0.37% APY
1-Year CD 0.54% APY
2-Year CD 0.80% APY
Savings Account 0.29% APY

Alabama Rankings Compared Against US States & DC

  • 6-Month CD: 12th
  • 1-Year CD: 14th
  • 2-Year CD: 10th
  • Savings Account: 4th

Alabama Banks and Credit Unions with the Best CD Rates

alabama credit union

Institution 6-Month CD Rate
First Southern State Bank 0.50
Guardian Credit Union 0.50
Railroad Credit Union 0.50
Shoreline Credit Union 0.60
First Jackson Bank, Inc. 0.60
New Pilgrim Federal Credit Union 0.60
New South Federal Savings Bank 0.61
Fort Mcclellan Credit Union 0.70
Riverdale Credit Union 1.00
Nexity Bank 1.07

alabama banks

Institution 1-Year CD Rate
The Infirmary Federal Credit Union 0.70
ACIPCO Credit Union 0.75
First Citizens Bank 0.75
Fort Mcclellan Credit Union 0.75
Jefferson County Employees Credit Union 0.75
Singing Rivers Federal Credit Union 0.75
New South Federal Savings Bank 1.01
Nexity Bank 1.04
Shoreline Credit Union 1.05
Riverdale Credit Union 1.50

banks alabama

Institution 2-Year CD Rate
Reliance Bank 1.01
Army Aviation Center Credit Union 1.03
Valley Credit Union Alabama 1.05
Navigator Credit Union 1.05
Singing Rivers Federal Credit Union 1.10
The Infirmary Federal Credit Union 1.10
Nexity Bank 1.10
BBVA Compass Bank 1.17
Shoreline Credit Union 1.25
Riverdale Credit Union 1.26

Banks and Credit Unions in Alabama with the Highest Savings Rates

credit unions in alabama

Institution Savings Rate
TVA Credit Union 0.40
Valley Credit Union Alabama 0.40
Nexity Bank 0.50
Rocket City Federal Credit Union 0.50
Wiregrass Credit Union 0.50
J. M. Associates Credit Union 0.55
Fort Mcclellan Credit Union 0.75
Riverdale Credit Union 0.75
Railroad Credit Union 0.80
People’s First Federal Credit Union 1.25

About This Alabama Deposit Account Rates Study

Go Banking Rates collects interest rate information on an ongoing basis online, local and national banks and credit unions within the U.S. The database currently includes more than 4,000 active institutions, displaying interest rates based on individual institutions’ published online rates. This study used interest rate data belonging to local banks and credit unions located and/or headquartered in the state of Alabama. CD and savings rates are as of December 31, 2012, though it is important to note that interest rates may have changed since this date, and those interested in opening an account with any of the above institutions should verify individual rates prior to doing so.

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