Bank CDs at Investar Bank Louisiana

Investar Bank is a full service community bank headquartered in Baton Rouge, Louisiana.  Investar Bank was founded in 2006.  The bank offers a full array of banking products and services for individuals, professionals and small and medium-sized businesses.

Investar Bank products and services includes personal and commercial banking services for mortgages, construction loans, home equity loans, auto loans, boat loans and overdraft lines of credit.  The bank also offers personal and business online banking, automatic loan payment, depository and money order transferring as well as certificates of deposit, checking accounts, money market accounts and savings accounts.

Investar Bank is a locally owned financial institution.  The bank competes on the basis of quality and variety of its services and products and being locally owned and controlled allows the bank to serve customers more efficiently and effectively. 

Our promotional reviews rarely provide insight into a banks operation; these reviews are here to provide general CD rate information and bank data.  However, in contacting Investar Bank to review their savings rates and CD rates, a representative of the bank quickly responded to two early morning email requests from our firm for information on various products.  That sounds simple enough, but our staff could go on and on about how many banks they email using the banks contact information and either never receive a reply, receive replies hours and days after the request and our favorite – wait several hours then send an email to call the bank.  Why email if we wanted to call.  So, A+ for customer service at Investar Bank and thumbs down to all the banks that don’t respond to email information requests. 

Special Friday note – Investar Bank is reviewed by a large competitor regarding the high rate savings account the bank offers.  The bank does have one of the best savings account rates available, but the account is not available to out of state residents and this is not clarified or discussed in this national money publication.  As publisher, it gives me great pleasure to know our rates and data are simply the best in the marketplace and we provide this data with a small staff that obtains data on much more than just savings and CD rates. 

Investar Bank offers competitive rates on a number of savings vehicles including some of the best certificates of deposit rates and individual retirement accounts in the region.  The bank CDs require a $1,000 minimum deposit to open the account.  The bank CDs pay accrued interest monthly.  All bank CDs have a penalty for early withdrawal.  The bank certificates of deposits are offered in terms of 1 month, 2 months, 3 months, 6 months, 9 months, 12 months, 18 months, 24 months, 30 months, 36 months and 60 months.  The bank also offers IRA certificates of deposits that have terms of 12 months, 24 months, 36 months and 60 months.

Current bank CD rates offered include:

6 month CD rate of 1.45%
1 year CD rate of 2.05%
18 month CD rate of 2.30%
2 year CD rate of 2.55%

In addition, the bank has a promotional 3 year CD at 2.55% that requires a $5,000.00 minimum deposit that allows the CD account holder to raise the CD rate twice during the term.  During the original term the account holder may adjust the CD rate two times to Investar Bank’s current rate for the same term as the existing CD.

The bank’s savings account starts at 1.75% for balances between 0 and $2,500.00.  The savings account rate goes up to 1.89% for balances between $2,500.00 and $25,000.00.  The savings account rate increases again to 1.94% for balances in excess of $25,000.00.  The minimum deposit for the savings account is $200.00, the Annual Percentage Yield is effective 08/04/09 and subject to change.

Bank CD rates and savings rates subject to change at the bank’s discretion.  Bank rates are current as of this publication.  For current CD rates, savings rates and other bank rates at Investar Bank, call the bank directly at 225-757-7117.  Bank rates, CD rates and additional account information are also provided on the bank web site which can be found at www.investarbank.com.

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This entry was posted on Friday, August 7th, 2009 at 7:44 pm and is filed under Bank Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.