Fulton Bank has more than 250 branch locations across five states. The bank’s certificates of deposit (CDs) don’t have the most competitive rates compared to the best CD rates available today, but they do come in a wide range of term lengths. Terms range from three months to six years (72 months) long.
The minimum deposit of $1,000 is about average for similar banks but other banks have lower limits. Unlike some banks, the promotional CDs require the same minimum deposit even though they generally offer higher rates.
Keep reading to learn more about Fulton Bank’s CD options and whether you should consider opening an account.
|CD Term||Minimum Deposit||APY|
|3 Month||$1,000||0.05%||Compare CDs|
|6 Month||$1,000||0.05%||Compare CDs|
|9 Month No Penalty||$1,000||0.05%||Compare CDs|
|12 Month||$1,000||0.05%||Compare CDs|
|12 Month Variable||$1,000||0.05%||Compare CDs|
|13 Month PROMO||$1,000||0.60%||Compare CDs|
|15 Month||$1,000||0.10%||Compare CDs|
|18 Month||$1,000||0.20%||Compare CDs|
|24 Month||$1,000||0.20%||Compare CDs|
|30 Month||$1,000||0.20%||Compare CDs|
|36 Month||$1,000||0.20%||Compare CDs|
|48 Month||$1,000||0.35%||Compare CDs|
|60 Month||$1,000||0.35%||Compare CDs|
|72 Month||$1,000||0.35%||Compare CDs|
9-Month CD Interest Rate Comparison
Overview of Fulton Bank CDs
Headquartered in Pennsylvania, Fulton Bank serves Delaware, Maryland, New Jersey, Pennsylvania and Virginia. Opening an account requires you to visit a local branch, so you will need to live in one of those states if you’re interested in the bank’s CDs.
Fulton Bank offers CD terms ranging from three months to six years in length. The minimum deposit for all CDs is $1,000. Standard CDs are also available as part of an individual retirement accounts (IRA).
Standard CDs are available to all customers, but you can earn higher interest rates if you have a Relationship Banking checking account. This checking account requires you to have a certain amount on deposit and could come with additional fees. If you have any questions about interest rates, you should visit or call a local branch.
Whether or not you qualify for the relationship rates, interest compounds daily. The frequency that interest credits to your account will depend on your individual CD. You also have the option to transfer interest earnings into another account that you have with Fulton Bank.
At the end of your CD term, Fulton Bank will give you a 10-day grace period. You can make any changes or even close your account during this time without paying a penalty. If you don’t close the account, your CD will renew at the end of the grace period for another CD of the same term.
Withdrawing money early from your CD will result in an early withdrawal penalty. The penalty amount depends on your CD term and the amount of principal that you are withdrawing. If your CD term is less than six months, your penalty will be equal to either the total interest your CD would accrue over its full term or seven days’ simple interest, whichever value is greater. If your term is at least six months but less than 36 months, the penalty is equal to 102 days’ simple interest. Terms of 36 months or longer have a penalty worth 12 months’ interest.
Fulton Bank also offers a few promotional and special CDs to keep in mind. Promotional CDs offer higher rates that change with the market. You should ask a local branch about the current promotional rates. Bump Up CDs allow you to increase your interest rate once during your term (if Fulton Bank offers a higher rate at any point during your term). No Penalty CDs allow you to withdraw your money before the end of your term without paying an early withdrawal penalty. However, you must wait at least seven days after opening your account to withdraw money and you must withdraw everything in the account.
How Much You Earn With Fulton Bank CDs Over Time
The standard CDs from Fulton Bank do not offer very high interest rates. That means you won’t earn much interest unless you deposit a large amount. You can also maximize earnings by choosing longer terms. If you qualify for a relationship rate, you may earn higher rates (and thus more interest). Special and promotional CDs will provide you significantly more interest earnings than standard CDs. Just remember that these CDs may require new money.
The table below shows what your approximate total balance will be based on different initial deposits and term lengths.
|Initial Deposit||12-Month CD||36-Month CD||60-Month CD|
How Fulton Bank CD Rates Compare to Other Banks'
Because the interest rates on Fulton Bank CDs aren’t always competitive, you should compare CD rates before opening an account. In particular, you should look at other banks if you want a short-term CD. For example, some online banks, like Ally and Synchrony, offer short-term CDs with interest rates comparable to the long-term rates from Fulton Bank. Ally also requires no minimum deposit to open an account.
Another bank to consider is Capital One. Capital One has competitive rates, and like Ally, it doesn’t require a minimum deposit.
If your primary interest is opening a CD as part of a retirement account, you may want to look into a broker like Edward Jones. Edward Jones has a $1,000 minimum deposit and some of the highest interest rates on the market. It also has terms as long as 10 years.
|CD Account||Fulton Bank||Ally Bank||Capital One|
Compare Fulton Bank to Other Competitive Offers
Should You Get a Fulton Bank CD Account?
Fulton Bank does not have the most competitive interest rates so you should consider other banks before you open an account. This is especially true if you want a short-term CD of 12 months or less. Customers looking for an IRA CD should also shop around. There are banks (and brokers) that offer longer terms and higher interest rates.
If you prefer to work with Fulton Bank, you will get the highest rates from promotional CDs. The caveat is that these CDs may require you to deposit new money. The rates on these promotional CDs also change over time and vary by location. Call or visit a local branch to get the latest offers.