JUMP TO Section Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.- Overall bank rating
- Pros and cons
- Savings
- Checking
- CD
- How Commercial Bank and Trust Company works
- Is Commercial Bank and Trust trustworthy?
- The role of CDFIs
- Commercial Bank and Trust Company vs. Simmons Bank
- Commercial Bank and Trust Company vs. Southern Bancorp
- Frequently asked questions
Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate banking products to write unbiased product reviews.
The bottom line: Commercial Bank and Trust Company could be a good choice if you live in Monticello, Arkansas, and want to open a savings account or a short-term CD at a local bank. You might consider other financial institutions if you don't have a lot of money for an opening deposit.
Overall bank rating
| Feature | Insider rating (out of 5) |
| Savings | 3.25 |
| Checking | 3 |
| CD | 3 |
| Trustworthiness | 3 |
| Total | 3 |
Pros and cons
| Pros | Cons |
|
|
Commercial Bank and Trust Company Savings Account
Commercial Bank and Trust Company Savings Account Read Review
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Feesno monthly service fee
Annual Percentage Yield (APY)0.15%
Minimum Opening Deposit$200
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fee
- con icon Two crossed lines that form an 'X'. $200 minimum opening deposit
- con icon Two crossed lines that form an 'X'. Must keep at least $200 in account to earn interest
- con icon Two crossed lines that form an 'X'. Limit of three transactions per quarter
- 5 branches in Monticello, Arkansas
- To earn 0.15% APY you must maintain at least $200 in your account
- Limit of 3 transactions per quarter; $1 excess transaction fee if you exceed the limit
- Interest compounded and deposited quarterly
- FDIC insured
The Commercial Bank and Trust Company Savings Account could be ideal if you're looking to avoid monthly service fees. You'll need at least $200 to open a savings account at the brick-and-mortar bank, though, which is high compared to other banks.
You'll also want to be mindful of transaction limits with the account. You'll be charged a $1 fee for each transaction that exceeds the limit of three transactions per quarter.
Commercial Bank and Trust Company 4-3-2 Account
Commercial Bank and Trust Company 4-3-2 Account Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Feesup to $6 monthly service fee
Annual Percentage Yield (APY)None
Minimum Opening Deposit$200
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Unlimited check writing
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fee
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free overdraft protection available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No out-of-network ATM fees
- con icon Two crossed lines that form an 'X'. $200 minimum opening deposit
- con icon Two crossed lines that form an 'X'. Monthly service varies between $6 and $0 (depends on your account balance)
- con icon Two crossed lines that form an 'X'. $30 overdraft fee
- con icon Two crossed lines that form an 'X'. Doesn't reimburse if you're charged by an out-of-network ATM provider
- 5 branches in Monticello, Arkansas
- Surcharge-free transactions at any Cirrus, Pulse, and Star ATMs
- Monthly service fee depends on your account balance: No fee if you have an account balance over $500; $2 monthly service fee if you have a daily account balance between $400 and $500; $4 monthly service fee if you have a daily account balance between $300 and $400; $5 monthly service fee if you have a daily account balance between $200 and $300; $6 monthly service fee if you have a daily account balance under $200
- Overdraft protection available: You may link your checking account to a savings account
- FDIC insured
The Commercial Bank and Trust Company 4-3-2 Account works best if you keep more than $500 in your account daily. Otherwise, you'll have to pay a monthly service fee that depends on how much money is in your account.
Commercial Bank and Trust Company CD
Commercial Bank and Trust Company CD Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Annual Percentage Yield (APY)0.25% to 0.75%
Minimum Opening Deposit$1,000
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Solid interest rate compared to other brick-and-mortar banks
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Standard CD early withdrawal penalties
- con icon Two crossed lines that form an 'X'. Online banks may offer a higher interest rate
- con icon Two crossed lines that form an 'X'. $1,000 minimum opening deposit
- con icon Two crossed lines that form an 'X'. Limited CD term options
- con icon Two crossed lines that form an 'X'. Interest compounded quarterly, not daily
- 5 branches in Monticello, Arkansas
- Terms range from 6 months to 3 years
- CD early withdrawal penalties: 3 months of interest for terms under 1 year; 6 months of interest for terms over 1 year
- Interest compounded and deposited quarterly
- FDIC insured
Commercial Bank and Trust might be worth exploring if you'd like to open a short-term CD with a brick-and-mortar bank. CD terms range from six months to three years, and you'll earn a solid interest rate, regardless of which term you choose.
How Commercial Bank and Trust Company works
Commercial Bank and Trust Company is a community development financial institution with five locations in Monticello, Arkansas. The brick-and-mortar institution is also part of Cirrus, Pulse, and STAR ATM networks, so customers have access to over 2 million ATMs throughout the US.
Customer support is available by phone from 8 a.m. to 4:30 p.m. CT Monday through Thursday and 8 a.m. to 5 p.m. CT on Friday.
The bank's mobile app is rated 4.8 out of 5 stars in the Apple store and 4.5 out of 5 stars in the Google Play store.
Commercial Bank and Trust Company is FDIC insured. Up to $250,000 is safe in an individual account, and $500,000 is secure in a joint bank account.
Commercial Bank and Trust trustworthiness and BBB rating
Commercial Bank and Trust Company hasn't been involved in any recent public controversies.
Usually, we also include ratings from the Better Business Bureau, but Commercial Bank and Trust Company hasn't been rated by the BBB yet.
BBB ratings aren't necessarily the be-all and end-all. You might want to read online customer reviews or chat with current customers to see if the bank is right for you.
The role of community development financial institutions
Community development financial institutions, or CDFIs, serve low-income and disadvantaged communities. Banks and credit unions have to undergo certification by the US Department of Treasury's Community Development Financial Institutions Fund and meet specific requirements to address the banking needs of local communities.
Commercial Bank and Trust Company hosts luncheons and community events for local schools and hospitals, like the Drew Memorial Health System, Drew Central Schools, and Monticello Schools. Representatives also participate in local fundraisers for nonprofit organizations and programs like the Special Olympics.
Commercial Bank and Trust Company vs. Simmons Bank
We compared Commercial Bank and Trust Company to another bank with branches in Arkansas: Simmons Bank.
Savings APY 0.15% | Savings APY Varies by location and balance |
Standout feature Free savings account | Standout feature Free checking account |
| Learn more | Learn more |
Commercial Bank and Trust Company might be a good option if you plan to open a savings account and have a minimum of $200. The Commercial Bank and Trust Company Savings Account charges zero monthly service fees. Meanwhile, Simmons Bank charges a $5 monthly service fee on its lowest-tier savings account if you don't keep at least $100 in your account.
If your priority is opening a checking account, you may favor Simmons Bank. The Simmons Bank Coin Checking Account has zero monthly service fees and has a $0 minimum opening deposit. In comparison, Commercial Bank and Trust Company charges a monthly service fee if you don't keep at least $500 in your account and requires a $200 minimum opening deposit.
Commercial Bank and Trust Company vs. Southern Bancorp
Southern Bancorp also has branches in Arkansas. See how the two banks compare below.
Savings APY 0.15% | Savings APY 0.10% |
Standout feature Free savings account | Standout feature CDs |
| Learn more | Learn more |
You'll probably prefer Commercial Bank and Trust Company if you're looking to open a savings account and have at least $200 for an initial deposit.
Commercial Bank and Trust Company doesn't charge service fees on its savings account, while Southern Bancorp has a quarterly service fee if you don't keep at least $50 in your account daily. You'll also earn a high interest rate with the Commercial Bank and Trust Company savings account than with the Southern Bancorp savings account.
If you'd like to earn more interest on your money, online banks will likely be a better option for opening a savings account that a brick-and-mortar bank. For CDs, though, you might lean more toward Southern Bancorp. Southern Bancorp has solid CDs with higher interest rates than Commercial Bank and Trust Company, regardless of which term you choose.
Frequently asked questions
Is Commercial Bank and Trust Company FDIC insured? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Yes, Commercial Bank and Trust Company is FDIC insured. When a bank is federally insured, up to $250,000 is secure in an individual bank account, and $500,000 is safe in a joint bank account.
Where is Commercial Bank and Trust Company located? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Commercial Bank and Trust Company serves communities in Monticello, Arkansas.
Sophia Acevedo Banking Editor Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics.ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, and budgeting and saving. She is highly knowledgeable about long-term trends in rates and offers at banks across the U.S.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circumstances and overcoming their fears around money.ExpertiseSophia's expertise includes:- Bank accounts
- Savings and CD rate trends
- Budgeting
- Saving
- How banks operate
Evelyn He Compliance and Operations Associate Evelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice.The compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team. Read more Read less Top Offers From Our Partners 
Chime® Checking Account Set up Direct Deposit and get your paycheck up to 2 days before your coworkers.** No overdraft fees. No monthly fees. A tooltip Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. **Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. Start BankingEditorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
ncG1vNJzZmivp6x7o8HSoqWeq6Oeu7S1w56pZ5ufonyxsdGspqeZnGKzqrrAp5qeZ5KWu6y1zaBmnKedorKzr8iao2aakaO4bq3NnWStqqWowW6vzqanmqapYr%2Bmwsierg%3D%3D