First Southern State Bank of Stevenson, AL has competitive certificate of deposit rates this week. The bank has a 13-month special CD rate of 1.6% annual percentage yield (APY). The 13-month CD requires a minimum opening balance of $1,000. Interest on the CD is paid monthly or at maturity. Other CD rates include:

• 1.15% APY for 6 months
• 1.51% APY for 1 year
• 1.6% APY for 18 months
• 1.81% APY for 2 years
• 2.27% APY for 3 years
• 2.52% APY for 4 years
• 2.73% APY for 5 years

The CD rates are current as of Aug 13, 2010. CDs require a minimum opening deposit of $500. Withdrawing funds early results in a penalty of one month of interest for CDs with terms of 12 months of less. The penalty is three months interest for CDs with terms greater than 12 months.

First Southern State Bank also has a regular checking account with no monthly fees as long as you maintain a minimum balance of $500. Balances that fall below $500 are charged a monthly fee of $6, and balances below $250 are charged $7. The minimum deposit to open the regular checking account is $50.