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If you live in one of the Gulf states 鈥� Texas, Louisiana, Mississippi, Alabama or Florida 鈥� a Hancock Whitney Certificate of Deposit (CD) could be for you. The regional bank offers maturities from seven days to seven years, but only three terms are worth your attention. The three-, nine- and 11-month options have competitive returns up to 5.40% annual percentage yield (APY). 

Account details and rates are accurate as of Dec. 7, 2023.

About Hancock Whitney Certificates of Deposit

All Hancock Whitney CDs have a relatively low minimum investment of $1,000 and have no maintenance or ongoing fees. You can find fixed-rate CDs with terms as short as one week and as long as seven years here, but most pay an abysmal yield, with rates between 0.01% and 0.05% APY. For comparison, in November, 2023, the lowest on a CD according to the Federal Deposit Insurance Corporation (FDIC) was 0.23% APY on a one-month term. 

In contrast, the three-, nine- and 11-month options pay competitive yields of 5.00%, 4.50% and 5.40% APY, respectively. 

But you will incur a fee for early withdrawals. For CDs with terms of one year or less, the fee is 1% of the amount withdrawn. CDs with terms of more than one year are charged 2% of the amount withdrawn.

An early withdrawal may also result in an APY that differs from the stated rate because withdrawals reduce earnings.

How to get a Hancock Whitney CD

You can open a Hancock Whitney CD account online if you live in Texas, Louisiana, Mississippi, Alabama or Florida. But for the fastest service, visit a local branch. The bank has locations in the aforementioned states. 

If you choose to open an online account, you can complete the process from home. The application has a DocuSign feature that lets you enter your information and sign digitally. 

Once you complete the application, expect to be contacted by a Hancock Whitney banker to gather additional information. If you don’t hear from a banker within one business day, you can call 1-877-844-4948, option one, between 8 a.m. and 5 p.m. CT Monday through Friday to speak with an associate.

How Hancock Whitney CD rates compare

Hancock Whitney offers competitive rates on three of its short-term CDs for residents in the five states it serves. Other banks in the region can fail to offer such high rates or require significantly larger deposits.

For instance, Renasant Bank, which has branches in many Southern states and offers a 5.25% APY on its seven-month Special CD, requires a $10,000 minimum deposit to open a CD. Regions Bank, which also serves customers across the South, requires a $500 deposit for the Regions Bank Certificates of Deposit of 90 days or more, and its rates top out at 5.15% APY for a 14-month promotional CD with Relationship Rates.

Keep in mind, however, that the best CD rates we found are available nationally.

How much can you earn with a Hancock Whitney CD?

Thanks to the Federal Reserve’s interest rate hikes since March 2022, CDs offer more compelling rates than in past years. But not all CDs are competitive. Only three of Hancock Whitney’s CDs offer rates worth considering. The remaining CDs pay a pittance, so if these terms aren’t right, look elsewhere or opt for a savings account instead.

If you choose a Hancock Whitney CD, the 11-month term offers the highest APY at 5.40%. But the APY on the three-month term is also among the highest offered by similar regional banks.

Use our calculator to see exactly how much you could earn.

Other products Hancock Whitney offers

Hancock Whitney offers several consumer banking products, including personal loans, credit cards, home loans and other deposit accounts. Note that all the checking and savings accounts include online and mobile banking.

• Hancock Whitney Assure Checking: Assure Checking is a full-service checking account with no overdraft or non-sufficient funds fees. It charges a monthly service fee of $7 for account holders 18 or older. You’ll need at least $25 to open an account.
• Hancock Whitney Freestyle Checking: The Freestyle Checking account lets you avoid the $10 monthly service charge by making one debit or credit transaction each cycle. Account holders younger than 18 or 64 or older pay no service charge. While there is no minimum daily balance requirement, you need $25 to open an account.
• Hancock Whitney Priority Checking: The Priority Checking account is an interest-bearing account that helps you grow your money while providing the benefits of a traditional checking account. Rates vary based on location but can be as low as 0.01%. You get free withdrawals at all U.S. ATMs.
• Hancock Whitney Savings Builder: As the name suggests, the Savings Builder account is designed to help you build your savings. Interest accrues on every cent, but rates vary by location and may be as low as 0.01%. You need $25 to open an account and must maintain a balance of at least $200 or link your account to a qualifying Hancock Whitney checking account to avoid the $5 monthly service charge if you are between the ages of 18 and 64. Account holders are limited to three free withdrawals each month. After that, each withdrawal incurs a $3 charge.
• Hancock Whitney Personal Money Market Account: Money market accounts may offer higher interest rates than traditional savings accounts by investing in very short-term debt securities. You need at least $2,500 to open an account and must maintain a balance of $2,500 to earn interest and avoid the $10 monthly service charge. The account provides six free withdrawals per month. After that, there’s a $15 charge for each withdrawal.

Here are the best free checking and savings accounts.

Hancock Whitney review

If you live in a Gulf state and value in-person banking, Hancock Whitney should be a contender for your business. It鈥檚 a full-service bank, offering everything from checking accounts to mortgages. Its savings rates, however, leave a lot to be desired. 

You won鈥檛 find competitive yields on savings or money market accounts, and the only strong return rates on CDs are offered on fluctuating special deals. So be sure to shop around and place your savings pot in a competitive, high-yield account, whether that鈥檚 at Hancock Whitney or another institution.  

Regarding consumer reviews, the Consumer Financial Protection Bureau has collected 136 complaints against Hancock Whitney in the past 10 years, which is on the lower end. For comparison, Regions Bank received 1,377 and Renasant Bank received 37.

Hancock Whitney has received only four reviews on Trustpilot, earning an average score of 3.3 out of five stars. Complaints center on poor customer service.