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.
Opening an account is completed entirely online. You do not have to mail any information in or wait for the bank to mail you information. All the information you need to open an account is on their website.
Colorado Federal Savings Bank accounts do not have any monthly maintenance fees. The accounts are completely free. There are no fees to transfer money into the account with electronic transfers.
The interest rates for CFSB are competitive. Their rates are much higher than your typical brick and mortar rates. They are competitive with other online-only accounts. CFSB rates are not tiered. Any amount over the required opening deposit earns the competitive rates offered.
The high yield savings account only requires $1.00 to open the account and keep in the account. The interest rate for this account is competitive. The only fee is if you withdraw more than six times each billing cycle.
CFSB offers limited accounts. Only online savings accounts and CDs are available. No checking or money market account is available. There are no business accounts available. Only those few personal deposit accounts are available through CFSB.
To fund your CFSB accounts, you must link the account to an external bank account. Make deposits into your accounts by electronic transfers from your linked account. Money can only be withdrawn into the linked external bank account.
The CFSB premier savings account earns the highest rate offered. To open that account, you must have $50,000. There are no monthly maintenance fees for this account. However, you must keep $50,000 in the account to earn the competitive interest rate. Only new customers are eligible to open this account.
To open a CD through CFSB requires $5,000. There are six different CD terms. They range from six-months to five-year terms. The only fee is if you withdraw your money before it reaches the maturity date. The interest rates for each of the different terms are competitive.