Best CD Rates in Mississippi

The best Certificate of Deposit (CD) rates in Mississippi is a smart move. Mississippians understand the value of investing in stability and growth and CDs offer a safe and reliable way to grow your savings.

With competitive rates available across the Magnolia State, the following guide is perfect to explore how you can make the most of your hard-earned money. Let’s dive into where you can find the best CD rates in Mississippi.

Overall Best CD rates in Mississippi

No.	Name of the Bank	APY %	Term Length	Address
1	Bank of Commerce	5.18%	6-month	3601 Bluecutt Rd Columbus, MS 39705
2	Merchants & Marine Bank	5.00%	3-month	3118 Pascagoula Street, Pascagoula, MS 39567
3	Powerco Federal Credit Union	4.90%	6-month	2201 17th St PO Box 4079 Gulfport, MS 39501
4	Red River Federal Credit Union	4.90%	6-month	138 Hwy 6 W Batesville, MS 38606
5	Great Southern Bank	4.90%	6-month	Online
6	Planters Bank & Trust Company	4.50%	3-month	212 Catchings Street, Indianola, MS 38751
7	Hancock Whitney Bank	4.49%	3-month	2510 14th Street, Gulfport, MS 39501
8	Southern Security Federal Credit Union	4.25%	6-month	6717 Airways Blvd Southaven, MS 38671
9	Keesler Federal Credit Union	4.05%	3-month	2602 Pass Rd, Biloxi, MS 39531
10	Guaranty Bank and Trust Company	4.01%	24-month	175 Hopper Avenue, Belzoni, MS 39038
11	Mechanics Bank	4.01%	24-month	319 N. Broadway, Greenville, MS 38701
12	Peoples Bank	4.00%	12-month	Online
13	Mississippi Postal Employees Federal Credit Union	4.00%	60-month	567 S. President Street, Jackson, MS 39201
14	RiverHills Bank	3.93%	12-month	1400 Highway 61 North, Vicksburg, MS 39183
15	MUNA Federal Credit Union	3.93%	18-month	4400 Hardy St, Hattiesburg, MS 39402
16	Commercial Bank	3.75%	6-month	206 S Lewis Ave Philadelphia, MS 39350
17	Statewide Federal Credit Union	3.69%	6-month	117 Commerce Ave Cleveland, MS 38732
18	Citizens National Bank	3.56%	3-month	512 22nd Avenue, Meridian, MS 39301
19	Concordia Bank & Trust Company	3.50%	6-month	300 Main St Natchez, MS 39120
20	Unify Financial Credit Union	3.50%	6-month	1200 Magnolia Way Blue Springs, MS 38828
21	United Mississippi Bank	3.50%	6-month	647 Highway 33 N Gloster, MS 39638
22	The First, A National Banking Association	3.50%	3-month	6480 U.S. 98, Hattiesburg, MS 39402
23	Cadence Bank	3.50%	3-month	210 East Capitol Street, Jackson, MS 39201
24	Liberty Bank and Trust Company	3.48%	6-month	2325 Livingston Rd Jackson, MS 39213
25	State Bank & Trust Company	3.45%	24-month	736 Delaware Avenue, McComb, MS 39648
26	The Citizens Bank of Philadelphia, Mississippi	3.45%	18-month	521 Main Street, Philadelphia, MS 39350
27	Magnolia Federal Credit Union	3.45%	12-month	240 Briarwood Drive, Jackson, MS 39206
28	Ferguson Federal Credit Union	3.45%	3-month	2138 Highway 15 N, Laurel, MS 39440
29	Mississippi Federal Credit Union	3.43%	3-month	2500 N State St, Jackson, MS 39216
30	Southeast Financial Credit Union	3.40%	6-month	102 Hwy 72 W Corinth, MS 38834
31	Woodforest National Bank	3.35%	6-month	3929 N Gloster St Tupelo, MS 38804
32	First Southern Bank	3.35%	12-month	128 S. First Street, Columbia, MS 39429
33	First Bank	3.01%	24-month	Online
34	PenFed Credit Union	3%	6-month	Online
35	Bank of Brookhaven	3.00%	24-month	411 Brookway Blvd, Brookhaven, MS 39601
36	Vicksburg Railroad Federal Credit Union	2.86%	24-month	2175 South Frontage Road, Vicksburg, MS 39180
37	PriorityOne Bank	2.75%	18-month	201 Mangum Avenue, Magee, MS 39111
38	Hope Federal Credit Union	2.72%	6-month	4 Old River Place, Suite A, Jackson, MS 39202
39	Bank of Holly Springs	2.50%	6-month	970 Highway 7 S Holly Springs, MS 38635
40	Citizens Bank	2.50%	6-month	8077 Highway 178 Byhalia, MS 38611
41	Wells Fargo Bank, National Association	2.50%	6-month	1325 26th Ave Gulfport, MS 39501
42	Members Exchange Credit Union	2.50%	5-month	107 Marketridge Dr, Ridgeland, MS 39157
43	Meridian Mutual Federal Credit Union	2.50%	3-month	Online
44	Navy Federal Credit Union (selected locations)	2.43%	3-month	Online
45	Home Bank, National Association	2.25%	6-month	2150 S Frontage Rd Vicksburg, MS 39180
46	Mississippi Telco Federal Credit Union	2.25%	6-month	409 Riverwind Dr PO Box 97997 Pearl, MS 39208
47	1st Mississippi Federal Credit Union	2.23%	24-month	600 19th Avenue, Meridian, MS 39301
48	Copiah Bank	2.09%	48-month	101 Caldwell Drive, Hazlehurst, MS 39083
49	Mutual Credit Union	2.08%	12-month	1604 Cherry St, Vicksburg, MS 39180
50	Southern Bancorp Bank	2.00%	6-month	1888 Main Street, Baker, MS
51	Home Bank	2.00%	36-month	Online
52	Gulf Coast Community Federal Credit Union	2.00%	3-month	12364 Highway 49, Gulfport, MS 39503
53	Heritage Trust Federal Credit Union	2.00%	3-month	Online
54	Singing River Federal Credit Union	1.80%	3-month	6000 Hwy 63, Moss Point, MS 39563
55	BrightView Federal Credit Union	1.75%	12-month	3900 Lakeland Dr, Flowood, MS 39232
56	First Commercial Bank	1.25%	24-month	1300 Meadowbrook Road, Jackson, MS 39211
57	Mississippi National Guard Federal Credit Union	1.18%	6-month	Online
58	First Mississippi Federal Credit Union	1.06%	12-month	Online
59	Central Sunbelt Federal Credit Union	1.04%	3-month	1506 Congress St, Laurel, MS 39440
60	Oxford University Bank	1.00%	36-month	1550 University Avenue, Oxford, MS 38655
61	Community Trust Bank	1.00%	36-month	Online

Current CD Rates of Mississippi

In an economic environment where interest rates can fluctuate, locking in a competitive CD rate provides a guaranteed return. It makes the CDs an attractive option for those who are looking to preserve and incrementally grow their capital over a fixed period.

With the stability and predictability that CDs bring to personal finance portfolios, Mississippi residents can benefit from these investments to achieve their short-term and long-term financial goals.

Best 6 Month CD Rates

6-month CD rates in Mississippi offer a golden opportunity for investors looking to earn competitive interest without a long-term commitment.

1. Popular Direct

Minimum Amount: $10000

APY / Rate: 4.50%

Pros:

• Best APY in the industry
• Round-the-clock access to the account
• Reliable customer support
• FDIC insured investment

Rules:

• Add a minimum deposit to the account within 10 days of opening the account
• Interest is compounded daily and credited to the account monthly
• Premature withdrawal is subject to a penalty

2. Merrick Bank

Minimum Amount: $25000

APY / Rate: 4.45%

Pros:

• Investment option with a reputable bank
• High APY on 6 month CD
• FDIC insured
• 24/7 access to account

Rules:

• Interest is credited to the account monthly on a fixed date.
• Early withdrawal penalty applicable

Best 1 Year CD Rates

For individuals seeking a balance between decent returns and manageable commitment, the best 1-year CD rates present an attractive proposition.

1. Marcus by Goldman Sachs

Minimum Amount: $500

APY / Rate: 4.50%

Pros:

• Decent minimum balance required
• Online access to the account
• Instant account opening process
• 10-day CD rate guarantee

Rules:

• The interest on the CD account is compounded daily and credited to the account monthly.
• Notice sent before the CD matures. You can choose to roll over the CD, alter the terms, or close the CD.
• Early withdrawal penalties are imposed by the bank.

2. Bank name

Minimum Amount: $0

APY / Rate: 4.50%

Pros:

• No minimum deposit required
• No monthly maintenance fees
• Various CD term choices are available

Rules:

• Interest is compounded daily and paid out monthly via account transfer to the same bank or another bank account
• Users can also receive interest by cheque on a monthly, quarterly, or annual basis.
• Early withdrawal penalty depending on the term of the CD

Best 2 Year CD Rates

2-year CD rates cater to those who are prepared to lock away their funds for an intermediate period. This time frame strikes a perfect balance, offering higher interest rates while still keeping the future within reach for financial planning.

1. America’s First Federal Credit Union

Minimum Amount: $500

APY / Rate: 4.75%

Pros:

• High rate of return
• Terms available 91 days to 60 months
• Reasonable minimum deposit required

Rules:

• Dividends are paid monthly, quarterly, or at maturity as per the CD terms
• Certificated renew automatically once matured
• Penalty on premature withdrawals

2. Randolph-Brooks Federal Credit Union

Minimum Amount: $20000

APY / Rate: 4.70%

Pros:

• Best CD rates in the region
• No risk involved with investment
• FDIC insured investment options

Rules:

• Monthly compounding of interest
• Dividends are transferred to an account (RBFCU checking, savings, and money market accounts, or other bank’s account) every month
• Automatic renewal on maturity after completion of grace period
• The grace period allows investors to roll over or alter the CD term before reinvesting

Best 3 Year CD Rates

3-year CD rates in Mississippi are tailored for individuals  who are looking towards medium-term financial goals.

1. Alliant Credit Union

Minimum Amount: $1000

APY / Rate: 4.60%

Pros:

• NCUA insured investment
• High-interest rates
• No cap on the maximum investment limit
• No monthly maintenance fees

Rules:

• Dividends compounded monthly or on maturity
• Dividends can be withdrawn monthly without any penalty
• If dividend is withdrawn, simple interest replaces compound interest
• Penalty charged on pre-mature CD account closing

2. Randolph-Brooks Federal Credit Union

Minimum Amount: $20000

APY / Rate: 4.60%

Pros:

• Best CD rates in the region
• No risk involved with investment
• FDIC insured investment options

Rules:

• Monthly compounding of interest
• Dividends are transferred to an account (RBFCU checking, savings, and money market accounts, or other bank’s account) every month

Best 5 Year CD Rates

For the long-term planners and savers, the best 5-year CD rates offer the highest interest rates among standard CD terms.

1. Synchrony Bank

Minimum Amount: $0

APY / Rate: 4.30%

Pros:

• No minimum deposit required
• Relatively modest penalty terms 
• A penalty can be avoided by using a CD ladder
• No penalty for withdrawing interest

Rules:

• Interest is calculated and credited to the account every month
• Premature withdrawal of principal is subject to penalty.

2. Quontic Bank

Minimum Amount: $500

APY / Rate: 4.30%

Pros:

• FDIC insured to the max
• Low minimum deposit requirement
• Instant and hassle-free account opening process

Rules:

• Daily compounding of interest, the interest is credited to the account every month
• Interest is calculated on a periodic rate i.e. (principal + interest) in the account
• 10 days grace period after maturity to alter the CD terms.
• Automatic renewal at the end of the grace period.

Mississippi Economic Statistics

Mississippi, with its rich cultural heritage and vibrant economy, presents a unique backdrop for investors and savers looking to navigate the financial landscape. In this regard, the state’s economic statistics offer a comprehensive view into the lives of its residents and the opportunities available to those looking to grow their savings through instruments like CD rates.

• Mississippians have navigated through economic challenges and opportunities, with an average household income that reflects the state’s diverse economic activities. As per the U.S. Census Bureau, the estimated median household income in Mississippi stood around $45,792 in 2021, providing a snapshot of the financial environment for investors.
• Additionally, the real estate market in Mississippi offers affordability compared to national averages, with the median home value in the state being approximately $258,000. This affordability can be a significant factor for individuals looking to invest in property or allocate funds towards savings and investments like CDs.
• With a population that exceeds 2.9 million people, Mississippi’s demographic landscape plays a crucial role in shaping its economic and investment climate. The state’s population density and growth rates influence various sectors, including housing, employment, and retail, impacting how residents approach saving and investing.

Category	Detail
Average Income	The estimated median household income in Mississippi was around $45,792.
Average Home Value	The median home value in the state was approximately $258,000 as reported.
Population	Mississippi’s population exceeds 2.9 million people, influencing various economic sectors.

How to Get Best CD Rates in Mississippi

Securing the best CD rates in Mississippi involves a strategic approach that combines research, comparison, and timing. To navigate the landscape effectively;

• Start by exploring a wide range of financial institutions, from large national banks to local credit unions, as they can offer varying rates depending on their operational goals and liquidity needs.
• Utilize online comparison tools and financial websites dedicated to tracking CD rates in real-time, ensuring you’re getting the most up-to-date information.
• Attention to promotional rates, special offers for new customers, and tiered rates based on deposit amounts, as these can significantly affect the overall return on your investment.
• Last but not the least, building a relationship with your banking institution can also unlock preferential rates, especially for long-standing customers with multiple accounts.

CD Rates Methodology

Our methodology for identifying the best CD rates in Mississippi involved an extensive review of 96 banks and credit unions, encompassing a mix of large national banks, regional banks, and local credit unions.

The aim was to provide a comprehensive overview of the CD rate environment within the state. Out of these, 66 financial institutions made the list based on their offering competitive CD rates, customer service, accessibility, and the variety of terms available.

This selection process ensures that our recommendations cater to a wide range of financial goals and preferences, helping savers find the best possible home for their investments.

Conclusion

Overall, the key to maximizing your returns on CDs is not only finding the highest rates but also aligning your investment with your financial timeline and liquidity needs.

With a methodical approach and a keen eye on the market, securing top CD rates in Mississippi can significantly enhance your savings growth, contributing to a more secure financial future.

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