When the investors want to maximize their savings, they rely on the Certificate of Deposit as it delivers the highest return. On the other hand, finding the best Certificate of Deposit (CD) rates is not that much of an easy pathway, especially in a place as diverse and financially varied as Arkansas.

The state, known for its lush landscapes, rivers, and hot springs. Whereas, it also offers rich options for savers. In Arkansas, where local banks and credit unions compete alongside national institutions, the urge for the highest CD rates can uncover a lot of opportunities.

For the most specified results, and rewarding opportunities, the following article will let the people o make a well defined and informed decision for their investments.

Let’s explore the further details in the section below;

Overall Best CD rates in Arkansas

No.Name of the BankAPY %Term Length Address
1First Community Bank5.50%12-month1325 Harrison Street, Batesville, AR 72501
2The Citizens Bank5.50%14-month655 Saint Louis Street, Batesville, AR 72501
3Heritage Bank5.50%6-monthOnline
4Simmons Bank5.30%18-month501 Main Street, Pine Bluff, AR 71601
5First Financial Bank5.15%11-month214 North Washington, El Dorado, AR 71730
6First Security Bank5.10%6-month314 North Spring Street, Searcy, AR 72143
7Capital Bank5.05%3-month12224 Chenal Pkwy Little Rock, AR 72211
8Home BancShares, Inc.  (Conway)5.00%48-month719 Harkrider Street, Conway, AR 72032
9Bank of England5.00%18-month123 South Main Street, England, AR 72046
10United Bank5.00%5-month2600 South Thompson, Springdale, AR 72764
11Peoples Bank5.00%9-month204 East Main Street, Magnolia, AR 71753
12Telcoe Federal Credit  Union5.00%18-month820 Louisiana Street, Little Rock, AR 72203
13Fort Smith Dixie Cup  Federal Credit Union5.00%3-month4411 Midland Blvd Fort Smith, AR 72904
14INTRUST Bank, National  Association4.97%3-month3300 Market St Rogers, AR 72758
15Arkansas Best Federal Credit Union4.85%3-month3501 Old Greenwood Rd PO Box 17020 Fort Smith, AR 72903
16Bank of Lake Village4.60%3-month1015 Hwy 65 & 82 S Lake Village, AR 71653
17Farmers Bank & Trust4.50%7-month200 East Main Street, Magnolia, AR 71753
18Southern Bancorp4.50%6-month601 Main Street, Arkadelphia, AR 71923
19Anstaff Bank4.50%12-monh100 First National Avenue, Green Forest, AR 72638
20Wells Fargo Bank,  National Association4.50%3-month621 Hickory St Texarkana, AR 71854
21Bank of Gravett4.33%18-month211 Main Street NW, Gravette, AR 72736
22Arkansas Best Federal Credit Union4.16%6-month3501 Old Greenwood Road, Fort Smith, AR 72903
23Bank of Gravett4.04%3-month192 E Centerton Blvd Centerton, AR 72719
24Legacy National Bank4.04%3-month1325 E Joyce Blvd Fayetteville, AR 72703
25Liberty Bank of Arkansas4.01%9-monthJonesboro, AR.
26Evolve Bank & Trust4.01%36-month6070 Poplar Avenue, Suite 200, Memphis, TN 38119
27Bank OZK (formerly Bank  of the Ozarks)4%6-month17901 Chenal Parkway, Little Rock, AR 72223
28Bear State Bank4.00%7-month1401 South Walton Boulevard, Bentonville, AR 72712.
29Union Bank of Mena3.96%60-month303 Highway 71 North, Mena, AR 71953
30Cross County Bank3.93%5-month1 Cross County Plaza, Wynne, AR 72396
31Bank of America, National  Association3.93%3-month281 E Meadow Ave Springdale, AR 72764
32Fidelity National Bank3.80%3-month810 Hwy 64 E Wynne, AR 72396
33First National Bank of  Lawrence County at Walnut Ridge3.75%3-month131 Hwy 63 Bono, AR 72416
34Citizens Bank3.59%24-month200 South Third Street, Batesville, AR 72501
35Signature Bank of Arkansas3.59%7-month3878 North Crossover, Fayetteville, AR 72703
36Bank of England3.55%3-month1320 Rebsamen Park Rd Little Rock, AR 72202
37Unify Financial Credit  Union3.50%3-month916 W Monroe Ave Lowell, AR 72745
38River Valley Community  Federal Credit Union3.45%3-month2416 N West Ave El Dorado, AR 71730
39River Valley Community  Federal Credit Union3.40%24-month340 Cash Road SW, Camden, AR 71701
40First State Bank3.04%13-month3103 East Main Street, Russellville, AR 72802
41Merchants & Planters  Bank3.03%17-month319 East Main Street, Newport, AR 72112
42United Arkansas Federal  Credit Union3.03%12-month8405 Interstate 30, Little Rock, AR 72209
43Relyance Bank3.02%24-month912 Cherry Street, Pine Bluff, AR 71601
44Farmers Bank (Greenwood)3.00%24-month71 West Center Street, Greenwood, AR 72936
45Arkansas Superior Federal  Credit Union2.75%36-month1090 Old Warren Road, Monticello, AR 71655
46First National Bank of Fort Smith2.50%18-month602 Garrison Avenue, Fort Smith, AR 72901
47The Bank of Fayetteville2.50%48-month1 East Center Street, Fayetteville, AR 72701
48Fort Smith Dixie Cup  Federal Credit Union2.50%24-monthOnline
49Eagle Bank & Trust2.48%48-month5800 R Street, Little Rock, AR 72207
50Integrity First Bank2.36%6-month502 South Hickory Street, Mountain Home, AR 72653
51Bank of Little Rock2.35%6-month200 North State Street, Little Rock, AR 72201
52Diamond Lakes Federal  Credit Union2.25%6-month4032 Central Avenue, Hot Springs National Park, AR 71913
53River Town Bank2.08%9-month102 South Front Street, Dardanelle, AR 72834
54Saint Edward Mercy Hospital Federal Credit Union2.00%3-month7301 Rogers Ave PO Box 17000 Fort Smith, AR 72903
55The Farmers & Merchants Bank1.25%36-month708 South Main Street, Stuttgart, AR 72160
56First Arkansas Bank &  Trust1.25%12-monh600 West Main Street, Jacksonville, AR 72076
57The Capital Bank1.25%12-month17901 Chenal Parkway, Little Rock, AR 72223
58Chambers Bank1.09%48-month901 Main Street, Danville, AR 72833
59Arvest Bank1.08%60-month75 North East Street, Fayetteville, AR 72701
60Summit Bank1.08%48-monthArkadelphia, AR.
61Diamond Bank1.06%18-month319 East Main Street, Murfreesboro, AR 71958
62Centennial Bank0.06%48-month620 Chestnut Street, Conway, AR 72032
63Priority Bank0.05%60-month400 West Commercial Street, Ozark, AR 72949
64Arkansas Federal Credit UnionN/A N/A2424 Marshall Road, Jacksonville, AR 72076
65Farmers & Merchants Bank (Stuttgart)N/A N/A708 South Main Street, Stuttgart, AR 72160

Current CD Rates of Arkansas

The current Certificate of Deposit (CD) rates in Arkansas has significant relevance for savers and investors. It offers a secure and highly predictable way to earn interest on their deposits. Along with the fluctuating market conditions and economic uncertainties, CDs stand out as a credible source of stability. Furthermore, it allows Arkansans to lock in competitive interest rates for fixed periods.

Best 6-Month CD Rates

For savers seeking a short-term investment with a swift return, the best 6-month CD rates offer a precise blend of higher interest without the long-term commitment.

  1. Merrick Bank

Minimum Amount: $25000

APY: 4.40% APY

Pros:

  • Fixed, competitive rate of return
  • 24/7 anytime, anywhere account access
  • Strong and growing U.S. – based bank with one of the best CD rates in Arkansas.
  • Peace of mind with no hidden fees

Rules:

  • APYs are subject to change at any time without notice.
  • This offer is for consumer accounts only. Fees may reduce earnings.
  • A minimum of $25,000 is required to open a CD account and must be deposited in a single transaction.
  • After maturity, if you choose to roll over your CD, you will earn the base rate of interest in effect at that time.
  1. Lone Star Bank

Minimum Amount: $1.000.00

APY / Rate: 4.25% APY

Pros:

  • Dividends can be compounded in certificates / deposited to another share/ transferred to another institution
  • Option to renew on the maturity

Rules:

  • Any withdrawal before maturity is charged with a penalty
  • The amount you need to open a CD is $1,000, and the maximum balance is $250,000.
  1. Live Oak Bank

Minimum Amount: $2500.00

APY Rate: 4.25% APY

Pros:

  • High-interest rates.
  • Offer mobile and online banking.
  • No opening and maintenance fees.
  • Competitive interest rates on checking, savings, and certificates of deposit. This gives Live Oak Bank one of the best CD rates in Arkansas.

Rules:

  •  If the account is closed before interest is credited
  • You need $2,500 to open, and the maximum balance is $250,000.

Best 12-Month CD Rates in Arkansas 

The best 1-year CD rates are ideal for the individuals who are looking for a balance between moderate-term investment and appreciable yield.

  1. Blue FCU

Minimum Amount: $1

APY Rate: 4.60% APY

Pros:

  • No monthly fee, ATM charges & minimum deposit needed
  • Pay bills to anyone through the United States
  •  Offers an annual percentage yield of up to 2%

Rules:

  • Limit one per social security number.
  • A minimum daily balance of $25.00 is required to earn dividends.
  • The rate changes once the balance exceeds $5,000.
  • Dividends are compounded daily and paid quarterly.
  1. CommunityWide FCU

Minimum Amount: $1000.00

APY / Rate: 3.50% APY

Pros:

  • NCUA Insured to at least $250,000
  • Dividends can be compounded in certificates / deposited to another share/ transferred to another institution
  •  Option to renew on the maturity

Rules:

  • Any withdrawal before maturity is charged with a penalty
  • Penalty= amount of the withdrawal x  the remaining term (days) of the certificate at the rate of 2x the current APR (divided by 365)
  • Dividends are paid at the end of the month
  1. Bread Savings

Minimum Amount: $1500

APY / Rate: 4.00% APY

Pros:

  • Excellent for earning a competitive interest rate on a savings account or CD.
  • Without monthly services.
  • Free domestic incoming wire transfers on savings account

Rules:

  • APYs are subject to change at any time without notice
  • The penalty will be applied for early withdrawals on CDs
  • At maturity, your CD will automatically renew and earn the base interest rate

Best 2 Years CD Rates in Arkansas

2-years CD rates are also so popular among the investors to seek a credible level of the Yields and interest over their savings. Here are some precise choice options

  1. Synchrony Bank

Minimum Amount: $0.00

APY Rate: 3.50% APY

Pros:

  • No minimum balance
  • Easiest penalty terms
  • CD ladder strategy to avoid penalty
  • Interest can be withdrawn anytime without penalty
  • FDIC insured up to $250,000

Rules:

  • Interest is calculated monthly and credited to the account at the end of the month
  • Penalty on premature withdrawal.
  1.  First National Bank of America

Minimum Amount: $1000

APY Rate: 3.95% APY

Pros:

  • Competitive APY on online CDs and high-yield savings accounts
  • Fee-free access to 55,000 all ATM networks.
  • Digital banking access online and via an app

Rules:

  • Interest rates and APYs are subject to change without notice.
  • Early withdrawal will reduce earnings and impose the penalty
  • APY on all services will remain deposited until maturity.
  1. PenFed Credit Union

Minimum Amount: $1000

APY / Rate: 3.85 % APY

Pros:

  • Easy online and mobile access.
  • Checking account dividends are compounded daily and paid monthly
  • 85,000 free ATM network access nationwide.
  • Competitive APY rates.

Rules:

  • Rates are the same and are subject to change.
  • Penalties applied for early withdrawal.
  • The penalty will be 30% of the gross amount of dividends after 365 days of the open date.

Best 3 Years CD Rates in Arkansas

Investors who require a middle ground in terms of duration and return will find the best 3-year CD rates appealing. They typically offer higher interest rates in exchange for a slightly longer investment period.

  1. Quontic Bank

Minimum Amount: $500.00

APY / Rate: 3.75 % APY

Pros:

  • Instant account opening
  • Low minimum balance
  • FDIC insured

Rules:

  • Interest is compounded daily and credited to the account at the end of every month
  •   A periodic rate is applied to the balance (principal + interest) in the account
  • CD can be withdrawn upon maturity within 10 days after which, it is automatically renewed on the same terms.
  1. Bread Savings

Minimum Amount: $1500

APY / Rate: 4.00% APY

Pros:

  • Excellent for earning a competitive interest rate on a savings account or CD.
  • Without monthly services.
  • Free domestic incoming wire transfers on savings account

Rules:

  • APYs are subject to change at any time without notice
  •  The penalty will be applied for early withdrawals on CDs
  • At maturity, your CD will automatically renew and earn the base interest rate.
  1. PenFed Credit Union

Minimum Amount: $1000

APY / Rate: 3.65% APY

Pros:

  • Easy online and mobile access.
  • Checking account dividends are compounded daily and paid monthly
  • 85,000 free ATM network access nationwide.
  • Competitive APY rates.

Rules:

  • NCUA insured.
  • Rates are the same and are subject to change.
  • Penalties applied for early withdrawal.
  • The penalty will be 30% of the gross amount of dividends after 365 days of the open date.

Best 5 Years CD Rates in Arkansas

For those who prioritize maximum interest and can afford to set aside funds for an extended period, the best 5-year CD rates present the most concise opportunities within the CD spectrum.

  1. Popular Direct

Minimum Amount: $10000

APY Rate: 4.35% APY

Pros:

  • No monthly fees on savings account
  • Competitive rates on savings and CDs
  • Access your account 24/7 from desktop or mobile.
  • All deposits are FDIC insured, which is something that makes this one of the best CD rates in Arkansas.

Rules:

  • The penalty is 730 days of simple interest
  • Interest earned may vary
  • fees may reduce the aggregate balance on the account.
  • A minimum deposit of $10,000 is required for all CDs.
  1. Synchrony Bank

Minimum Amount: $0.00

APY / Rate: 4.26% APY

Pros:

  • Best APY rate
  • No minimum balance required
  • High-yield savings options
  • No penalty on premature interest withdrawal
  • 10 days grace period after maturity to add more funds to the CD

Rules:

  • The interest is compounded monthly and added to the account at the end of the month.
  • There is no minimum balance required to earn interest.
  • Also no penalty on premature withdrawals.
  1.  PenFed Credit Union

Minimum Amount: $1000.00

APY / Rate: 3.65 % APY

Pros:

  • High-yield checking account with easy-to-waive monthly fees
  • Opening checking and savings accounts require a low minimum deposit.
  • Online savings account with a competitive dividend rate, making this another competitor for the best CD rates in Arkansas.

Rules:

  • On early withdrawal, account earnings will be reduced.
  • Require a written notice of up to 60 days of the intention to withdraw funds

Arkansas Economic Statistics

As investors navigate the landscape of Certificate of Deposit rates in Arkansas, understanding the economic backdrop of the state is crucial. So that they can make well informed decisions.

Economic IndicatorValue
Average Household Income$55,400
Average Home Value$157,000
Population>3 Million

With an average household income of approximately $55,400, Arkansas presents a diverse economic environment for potential savers and investors. The average home value in the state stands at around $157,000. It is a relatively affordable housing market compared to the national average.

Furthermore, with a population exceeding 3 million people, Arkansas’s demographic and economic dynamics create a unique context for assessing the attractiveness of CD rates. These statistics not only highlight the financial health and living standards of Arkansans but also underscore the importance of choosing the right investment vehicles, such as CDs, to align with one’s financial goals and the broader economic conditions.

How to Get Best CD Rates in Arkansas?

To secure the best CD rates in Arkansas, it’s essential to conduct thorough research and comparison shopping among various financial institutions, including local banks, credit unions, and online banks, which often offer competitive rates compared to national chains.

Additionally, paying attention to promotional offers and being ready to negotiate for better rates can also lead to more favorable terms. Make sure to consider the timing of your investment is crucial, as CD rates fluctuate based on economic conditions and federal interest rate policies.

Moreover, joining a credit union is also considerable. It typically offers higher interest rates to its members. Ultimately, understanding your financial goals, investment timeline, and risk tolerance, along with staying informed about the broader economic environment, will help you in choosing the best CD rates in Arkansas.

CD Rates Methodology

The methodology behind reviewing and selecting the best CD rates involves a comprehensive analysis of offerings from a wide array of financial institutions.

In this instance, a total of 98 banks’ CD rates were reviewed to ensure a broad and representative sample of the market. This review process included both large national banks and smaller, local banks to capture the full spectrum of available rates and terms. Out of these, 68 banks made the list, indicating that their CD rates were competitive enough to stand out among the vast number of options.

The selection criteria for making the list were based on several key factors:

  • Interest Rates Offered
  • Term Lengths
  • Minimum Deposit Requirements
  • Early Withdrawal Penalties
  • Overall Bank Reliability and Customer Service

Conclusion

In conclusion, the best CD rates in Arkansas will help to maximize their returns. Whether you are drawn to the security and stability of local banks or the potentially higher yields of online institutions, the key lies in comparing rates, understanding terms, and considering the financial health and flexibility offered by each option.

By navigating the diverse financial ecosystem of the State with informed precision, investors can unlock the full potential of their savings. It ensures their financial growth and stability in the face of economic fluctuations.

FAQs

Who has the best CD rates in Arkansas?

The best APY of 5.50% for 12-months is offered by the First Community Bank.

What Credit Union has the Best CD rates in Arkansas?

The highest current credit union’s APY is 5.00%  for 18-months. It is offered by Telcoe Federal Credit Union.