-
Financial Rates:
4.0
-
Customer Service:
3.5
-
Website Experience:
3.0
-
Bank Fees:
5.0
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
-
Financial Rates:
3.0
-
Customer Service:
3.0
-
Website Experience:
4.5
-
Bank Fees:
5.0
Pros:
- Competitive interest rates on accounts
- Savings account has a low opening minimum
- No monthly fees on saving account
- Rising CDs offer interest rate increases
Cons:
- Limited accounts offered
- Some CDs have high opening amounts
- Interest rates not fixed for savings
- Limited ways to contact customer service
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.
The interest rates for Rising Bank accounts are competitive. The rates are competitive with other online accounts. They are much higher than typical bank rates. The rates are not tiered. Any amount above the required opening amount earns competitive interest rates.
The Rising Bank high yield savings account and the regular CDs have low opening amounts. The regular CDs are available in one, two, and three-year CDs. These CDs and the savings account each only requires $1,000 to open.
There are no monthly fees on the high yield savings account. This account is free. To earn interest, you must keep $1,000 in the account. The CDs only have a fee if you withdraw money before the CD reaches maturity.
Rising Bank offers two Rising CDs. These come in 18-month and 36-month terms. Each of these CDs requires $25,000 to open. During the CD term if interest rates increase you can increase the rate on your CD. The 18-month CD allows for one rate increase; the 36-month allows two rate increases. When you increase the rate of the CD, you can also deposit more money into the CD.
Rising Bank has limited types of accounts available. They offer a high yield savings account and CDs. The CD terms range from one year to three-year terms. There are not a wide variety of term lengths available through Rising Bank. They offer regular CDs, one jumbo CD, and two Rising CDs. Rising Bank does not offer a money market account or checking accounts. No business accounts are currently available.
The Rising CDs and the jumbo CD have high opening amounts. The Rising CD terms each require $25,000 to open. The jumbo CD has one term length, and it requires $100,000 to open the account. You must keep these amounts in the CDs to earn interest.
The interest rates for the Rising Bank high yield savings account are not fixed. Rising Bank may change the rate you earn on your account at any time. The bank does not have to notify you if the rates change. Interest credits to your account every month for the savings account and every three months for CDs. If you close your accounts before interest credits, you will not receive the earned interest.
Rising Bank offers limited ways to contact customer service. Reach a representative through phone, mail, or email. They are open Monday through Friday. The Rising Bank website says their customer service representatives offer personalized help. The ways to contact someone are limited though.
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.