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.
FirstBank offers a checking account for anyone over 55 years old. This account earns interest. There is no minimum balance to earn interest or required to keep in the account. This account does not have any fees, and direct deposit is not required.
The Anywhere Accounts are a savings and checking account. Both of these accounts do not have monthly fees. There is no minimum balance required to keep in the account. You can sign up to have money from transactions rounded up to the nearest dollar. The difference is deposited into your Anywhere eSave Savings account. Those transactions include debit transactions, bill pay, or other electronic transfers.
FirstBank offers accounts for businesses. Checking and money market accounts are available. There is a checking account offered specifically for nonprofits. There are no fees for the nonprofit checking and the basic business checking. The other accounts have a monthly fee.
Not just personal deposit accounts are available at FirstBank. Personal credit cards, home equity loans, and personal construction loans are available. Health Savings Accounts and accounts to help save for college are also offered.
Most FirstBank accounts have a monthly fee. The fees range from $5 to $20. The debit card has a yearly fee of $10. You are only allowed 25 deposits into the eSave Savings account per month. You are charged $0.10 for each item over 25.
Account interest rates at FirstBank are not competitive with other online banks. The interest rates are similar to your typical bank rates.
FirstBank offers products and accounts in Arizona, California, and Colorado. They have over 115 branch locations in these three states with over 200 ATMs. To open an account, you must live in one of these three states.
Online banking with FirstBank is only free if you sign up to receive electronic statements. The fee is $3 each month if you do not sign up. The money will be automatically withdrawn from your checking account on the first day of each month. If you want to receive paper statements, you must keep $10,000 in FirstBank accounts to waive the monthly fee.