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Piedmont Bank CD Rates

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
The Piedmont Bank 13-Month CD
0.80% APY

The Piedmont Bank offers certificates of deposit (CDs) from one month to 60 months. You will have to contact your local branch for the exact terms and rates available. The bank’s higher-earning special CD terms are given below. Each of the five accounts earn at some of the best CD rates in the industry. 

The Piedmont Bank CDs offer a great opportunity to grow your longer-term savings. You can still open short-term accounts, but they won’t earn quite as much savings as the special accounts.

CD Specials Minimum Deposit APY  
13 Month $500 0.80% Compare CD Rates
14 Month $500 2.35% Compare CD Rates
18 Month $500 0.90% Compare CD Rates
24 Month $500 1.05% Compare CD Rates
60 Month $500 1.55% Compare CD Rates

13-Month CD Interest Rate Comparison

Overview of The Piedmont Bank CDs 

The Piedmont Bank CD special accounts make for a great CD ladder. For starters, the accounts require $500 to open, which may be high for a number of customers. However, this amount is much lower than many other small banks’ minimums, which often reach $1,000 or higher. To create a CD ladder, you’ll want to first make sure you can meet the minimum for each account you plan on opening. 

Each CD will renew automatically once it reaches maturity unless you make any changes to the account. This means you’ll want to make any additional deposits, withdrawals or term adjustments around the account’s maturity. 

The Piedmont Bank allows you to reinvest your interest earned, deposit it to another account or get paid by check. You can also use your certificates as collateral on loans. 

How Much You Earn With The Piedmont Bank Certificate of Deposits Over Time 

With its great interest rates, The Piedmont Bank CDs offer some solid earnings. Of course, you’ll earn more with larger deposits since that gives the interest rate more to grow. Unlike many CD formats, The Piedmont Bank doesn’t necessarily increase the interest rate for longer accounts. For example, the 24-month account has a higher rate than the 60-month account. 

Luckily, you’ll benefit from a great rate no matter which account you open. The amounts given below reflect what your final balance could look like according to your initial deposit and term length. 

Initial Deposit 13-Month CD 24-Month CD 60-Month CD
$500 $508 $526 $552
$1,000 $1,081 $1,053 $1,104
$5,000 $5,081 $5,263 $5,520
$10,000 $10,163 $10,527 $11,041

How The Piedmont Bank CDs Rates Compare to Other Banks’ 

The Piedmont Bank CDs offer great rates across the board when you compare CD rates across various institutions. This allows you to grow your savings no matter which account you open. Based in Georgia, The Piedmont Bank competes well with SunTrust Bank, a regional bank with hundreds of branches in Georgia. The Piedmont Bank does offer more flexibility when opening a CD, though, with a minimum deposit requirement of $500 while SunTrust requires $2,000. 

To open a CD account without a minimum deposit requirement, you can turn to Ally Bank. Ally operates entirely online so it doesn’t have the convenience that physical branches can provide. However, without the cost of branch upkeep, Ally gets to offer high-yield accounts without any minimum requirements. Ally also offers three kinds of CD account types, allowing you to raise your rate potentially or make penalty-free withdrawals.

CD Account Piedmont Bank SunTrust Ally
6 Month - 0.50% 1.50%
1 Year 0.80% (13 Month) 1.75% 2.10%
2 Year 1.05% 2.00% -
5 Year 1.55% 2.50% (58 Month) 2.40%

Compare The Piedmont Bank to Other Competitive Offers

Should You Get a The Piedmont Bank CD Account?

You should get a Piedmont Bank CD if you live near a branch. That way, you can more easily learn about their available terms and rates. You should also opt for the bank’s special CDs, those terms with the higher rates listed above. That way, you can more immediately benefit from big savings. 

Save more with these rates that beat the National Average
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