Headquartered in Lafayette, Louisiana, IberiaBank is larger than any other Louisiana-based bank. There are 216 branch locations in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia and South Carolina.
IberiaBank offers a wide swath of certificate of deposit (CD) accounts, both through IberiaBank itself and its online subsidiary, VirtualBank. While its standard rates aren’t the lowest we’ve seen compared with the best CD rates out there, you are better served to take advantage of its promotional offerings or head online to VirtualBank if that’s something you’re comfortable with.
Standard CD Rates
| Term Length | Minimum Deposit | APY |
| 30 Days to 5 Months | $1,000 | 0.03% |
| 6-11 Months | $1,000 | 0.05% |
| 12-23 Months | $1,000 | 0.10% |
| 24-35 Months | $1,000 | 0.20% |
| 36-60 Months | $1,000 | 0.30% |
Promotional CD Rates
IberiaBank also has two promotional CDs, although these offerings are subject to change and may vary depending on the branch you visit. Unlike many promotional CD offerings, these don’t require you to use new money as an initial deposit. Furthermore, the minimum deposit requirement is the same as the bank’s standard offerings, making these promotional offerings an objectively better option than their standard alternatives.
| Term Length | Minimum Deposit | APY |
| 11 Month | $1,000 | 1.80% |
| 23 Month | $1,000 | 2.30% |
VirtualBank Online CDs
With IberiaBank, you also have the option of opening a CD online through VirtualBank, a subsidiary. The rates offered through VirtualBank are significantly higher than the brick-and-mortar IberiaBank rates, particular the rates for 12-month, 24-month and 60-month terms.
| Term Length | Minimum Deposit | APY |
| 1 Month | $1,000 | 0.15% |
| 2 Month | $1,000 | 0.15% |
| 3 Month | $1,000 | 0.82% |
| 6 Month | $1,000 | 1.56% |
| 9 Month | $1,000 | 2.05% |
| 12 Month | $1,000 | 2.35% |
| 18 Month | $1,000 | 1.57% |
| 24 Month | $1,000 | 2.81% |
| 36 Month | $1,000 | 1.66% |
| 48 Month | $1,000 | 1.79% |
| 60 Month | $1,000 | 2.65% |
12-Month CD Interest Rate Comparison
Compare IberiaBank to Other Competitive Offers
Overview of IberiaBank CD Rates
IberiaBank has an extremely diverse collection of CD offerings, with a mixture of online and in-person CDs and a wide variety of term lengths to choose from. Across all of their offerings, the $1,000 minimum deposit requirement remains the same. This requirement could be prohibitive for some bankers who are looking to invest lower amounts, but it’s not the highest requirement we’ve seen.
If you find that you need to withdraw some or all of your principal before you reach your maturity date, then you’ll have to fork over an early withdrawal penalty, and the exact amount will depend on your term length and how much you’re withdrawing. If your term length is 12 months or fewer, then your penalty will be 100% of the interest your CD would have earned. For term lengths longer than 12 months but shorter than 24 months, the early withdrawal penalty is 1% of the amount being withdrawn. If your term length is any longer, your penalty would be 2% of the amount you’re withdrawing.
How Much You Earn With a Standard CD Account Over Time
Interest on all IberiaBank CDs compounds daily, but it’s only credited to your account once every quarter. You are free to withdraw any interest that you accrue throughout your term, but you should avoid doing so if you can help it. By leaving your earned interest in your CD account, you’re giving that money the opportunity to earn interest on itself, an opportunity you would lose if you removed it before your CD matures.
| Initial Deposit | 3 Month Standard CD | 12 Month Standard CD | 60 Month Standard CD |
| $1,000 | $1,000.13 | $1,002.00 | $1,020.20 |
| $2,500 | $2,500.31 | $2,505.00 | $2,550.50 |
| $5,000 | $5,000.63 | $5,010.01 | $5,101.01 |
| $10,000 | $10,001.25 | $10,020.02 | $10,202.01 |
How Much You Earn With a VirtualBank CD Account Over Time
You’ll notice that your earnings with the 3-month VirtualBank CD are slightly higher than with the three-month standard CD, but not by much. With the 12-month and 60-month terms, however, the difference is much more noticeable, especially with larger initial deposits. If you’re comfortable banking online and you’re looking to invest a large sum for a long time, a VirtualBank CD is the clear choice over the standard.
| Initial Deposit | 3 Month VirtualBank CD | 12 Month VirtualBank CD | 60 Month VirtualBank CD |
| $1,000 | $1,002.05 | $1,023.78 | $1,141.67 |
| $2,500 | $2,505.13 | $2,559.44 | $2,854.18 |
| $5,000 | $5,010.26 | $5,118.89 | $5,708.37 |
| $10,000 | $10,020.52 | $10,237.78 | $11,416.73 |
How IberiaBank CD Rates Compare to Other Banks
With its standard CD rates, IberiaBank stacks up well with many regional, brick-and-mortar establishments. That is, it's slightly more competitive than national behemoths like Chase, but the rates are still low when compared to online offerings or competitive in-person banks like Truist. The rates available through VirtualBank, however, are some of the most competitive we’ve seen. For the term lengths below, VirtualBank outshines even other online competitors like Ally.
| Term Length | IberiaBank | VirtualBank | Chase | Ally |
| 3 Month | 0.03% | 0.15% | 0.02% | 0.20% |
| 12 Month | 0.10% | 0.30% | 0.02% | 0.55% |
| 60 Month | 0.30% | 0.55% | 0.02% | 0.80% |
Should You Get an IberiaBank CD Account?
If you’re set on banking in person, then you may want to consider a promotional IberiaBank CD, as those will net you a higher return with no extra fees or conditions. If you’re looking for a longer term length and trying to maximize your interest rate, there are other Southern regional banks out there with more competitive offerings.
If you’re comfortable with online banking, then a VirtualBank CD may be something you’re interested in. Because the 12-month, 24-month and 60-month terms are the highest terms they offer, you may find it beneficial to create a CD Ladder with those three term lengths.
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