Liberty Bank and Trust review: Black-owned bank with competitive rates on savings and CDsMarch 31, 2021
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- Liberty Bank is a Black-owned bank with branches in eight states; you can also open accounts online.
- Liberty pays competitive rates on savings and CDs, especially compared to other physical banks.
- The bank charges monthly service fees on many accounts, but you may qualify to waive them.
- See Insider’s guide to Black-owned banks and credit unions.
Should you use Liberty Bank?
|You might like Liberty Bank if you …||You might not like Liberty Bank if you …|
The bottom line: Liberty Bank and Trust is a good option if you’re looking for high interest rates. But keep an eye out for fees, including ATM fees, excess transaction fees on savings accounts, and monthly fees (if you don’t qualify to waive them).
Liberty Bank Personal Savings review
Liberty Bank Personal Savings Account
Liberty Bank Personal Checking review
Liberty Bank Personal Checking Account
AL, IL, KS, KY, LA, MI, MO, MS, and online
CA, FL, MA, and online
AL, GA, and online
High interest rates
Early direct deposit
Variety of checking accounts
Liberty Bank review vs. OneUnited Bank review
Liberty Bank and Trust has branches in more states than OneUnited, but it has significantly fewer free ATMs. If you use ATMs often, you may want to go with OneUnited. You can also receive direct deposits up to two days early with OneUnited.
But if you’re after a good interest rate on savings or CDs, you might prefer Liberty. Its rates are comparable to some of the best online banks out there, especially the CD rates.
Liberty Bank review vs. Citizens Trust Bank review
Both of these banks have branches in Alabama and online. You may prefer Liberty Bank and Trust if you’re searching for high interest rates.
Citizens Trust Bank offers more checking accounts than Liberty, so you may find one that better suits your needs.
Laura Grace Tarpley is the associate editor of banking and mortgages at Personal Finance Insider, covering mortgages, refinancing, bank accounts, and bank reviews. She is also a Certified Educator in Personal Finance (CEPF). Over her four years of covering personal finance, she has written extensively about ways to save, invest, and navigate loans.
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