Ad Disclaimer

AloStar Review

How does your bank stack up?

  • Financial Rates: 5.0 Star Icon
  • Customer Service: 3.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon

Pros:

  • Competitive interest rates
  • Low required amounts to open CDs
  • Accounts are entirely online
  • Shorter terms offer competitive rates

Cons:

  • Limited personal accounts offered
  • Customer service not available 24/7
  • No checks or debit cards offered
  • Must link to an external bank account

What You Need to Know

AloStar CDs offer competitive interest rates. The interest rates are competitive with other online CDs. The rates are much higher than typical brick and mortar bank rates.

The CDs at AloStar have low required opening amounts. Each of the CDs require $1,000 to open. To earn the competitive interest rates, you must keep $1,000 in the account. There is not a fee if your balance falls below $1,000, but you will not earn interest on the balance.

CDs with AloStar are entirely online. You apply for the CDs online. Once you open an account, everything for the account is online. There are no branch locations. You can reach customer service by phone or email.

Usually with CDs, the longer the term the higher the interest rate. But, with AloStar some shorter terms offer more competitive rates. The 12-month, 18-month, and 24-month CD terms offer the most competitive rates.

There are limited accounts offered through AloStar. The only accounts offered are CDs. AloStar does not offer checking, savings, or money market accounts. The CD terms offered range from three-month to five-year terms.

AloStar customer service is not always available. You can contact customer service through email. Their hours are Monday through Friday from 7:00 a.m. to 7:00 p.m. Eastern Time. On Saturday their hours are 8:30 a.m. to 12:00 p.m.

The AloStar CD accounts do not offer debit cards or checks. The only way to access your money is through electronic transfers. You can transfer money during the grace period or after the CD reaches maturity.

To fund your AloStar CDs you must link the accounts to an external bank account. Once the accounts are linked you can make electronic transfers between the accounts. To avoid a fee, make withdrawals or deposits during the grace period or after the CD reaches maturity.

Cool Things

Online Banking

AloStar bank is an entirely online bank. Everything for your account is online. Once you open an account, you can access your accounts online. There are no branch locations. To reach customer service, you can call or email.

History

AloStar is a division of State Bank and Trust Company. It is an entirely online bank. There are no branch locations. They only offer CD accounts. The CDs range from three-month terms to five-year terms. To open an account, you must be a resident of the United States and at least 18 years old.

Frequently Asked Questions

Is AloStar FDIC insured?

Yes. AloStar is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How do I access my money?

Through electronic transfers. There is a fee if you withdraw money before maturity or out of the grace period. The bank will notify you when you can withdraw money without a fee.

Does AloStar offer mobile banking?

No app is listed on the website.

Is AloStar free?

AloStar only offers CDs. The only fees are from withdrawing money before the maturity date.

Is AloStar a good bank?

The interest rates on AloStar CDs are competitive. To open a CD requires $1,000. The only accounts offered are CDs. The terms range from three months to five years. Everything for the account is online.

Is AloStar secure online?

AloStar offers Trusteer Rapport free to customers as protection to your accounts.

Does AloStar offer competitive interest rates?

Yes. The interest rates for AloStar CDs are competitive with other online CDs. The rates are much higher than typical bank rates.

Can I use AloStar for my business accounts?

You can open the CDs offered through AloStar for your business.

How is AloStar online banking different from the online banking my bank offers?

The interest rates are more competitive. The only accounts offered are CDs.

Do AloStar checking accounts pay interest?

AloStar does not offer checking accounts. The only accounts offered through AloStar are CDs.

How do I reach customer service?

Through phone or email.

Does AloStar offer bill pay?

No. AloStar does not offer checking accounts. Because of that, no bill pay is available.

Can I deposit cash?

No. Make deposits through electronic transfers. Deposit money only during the grace period or once the CD reaches maturity.

How long do transfers take?

Specific transfer times are not listed on the website. Some CDs may require seven days’ notice before a making a withdrawal.

Can I sign up for direct deposit to AloStar accounts?

Deposit or withdraw money only during the grace period or after the CD reaches maturity to avoid a fee. During those times you can transfer money through electronic transfers.

Bank Contact Information

877-738-6391

BankTruth works to have the most up-to-date information on our website. The listings that appear on our pages are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Even so, we work hard to review banks fairly and pass the information onto you, the consumer. Please be aware that we cannot guarantee bank services and promotional offers. If you find a mistake, please contact us.

Favorite Rates

PNC Bank
Savings 07/23/2019
APY 2.35%
Rate 2.33%
For APY $1
Monthly Fee $0.00
Checkbook No
2.35% Annual Percentage Yield
Next >
CIT Bank
Savings 07/23/2019
APY 2.30%
Rate 2.27%
For APY $100
Monthly Fee $0.00
Checkbook No
$25k+ balance or $100+/month deposit for 2.30% APY. Member FDIC.
Next >
State Farm Bank
MMA 07/23/2019
APY 2.15%
Intro Rate 2.13%
Intro Duration 12 Months
Post Intro 1.00%
For APY $1,000
Monthly Fee $10.00
To Avoid Fee $500
Checkbook Yes
Intro APY, $1,000 to Open, $5,000 Min Bal post intro, See Limits
Next >
American Express National Bank
Savings 07/23/2019
APY 2.10%
Rate 2.08%
For APY $1
Monthly Fee $0.00
Checkbook No
No monthly fee. Competitive APY. 24/7 account access.
Next >