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If you live in one of the Gulf states — Texas, Louisiana, Mississippi, Alabama or Florida — 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 Nov. 29, 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 For CDs with terms of one year or less, the fee is 1% of the amount withdrawn. CDs with terms of more than one year are charged 2% of the amount withdrawn.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.

Minimum opening deposit$1,000
Term lengthsSeven days to seven years
Early withdrawal penaltyTerms of one year or less: 1% of the amount withdrawn
Terms of more than one year: 2% of the amount withdrawn
The penalty may not be less than seven days' interest

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.

CD termsHancock WhitneyRegions BankRenasant Bank CD Specials
Three months5.00% APY0.01% APY5.00% APY (five months)
Nine months4.50% APY0.01% APY, or 0.03% with Relationship Rates5.25% APY (seven months)
11 months5.40% APY4.90% APY, or 5.15% APY with Relationship Rates (14 month promotional CD)4.46% APY

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.

CD termsAPYEarnings on a $10,000 deposit
Three months5.00%$122.72
Nine months4.50%$335.64
11 months5.40%$493.91

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’s a full-service bank, offering everything from checking accounts to mortgages. Its savings rates, however, leave a lot to be desired. 

You won’t 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’s 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.

Frequently asked questions (FAQs)

The best CD rate available at Hancock Whitney is on its 11-month CD, which pays 5.40% APY. The three-month CD is also competitive at 5.00% APY, and the nine-month CD pays 4.50% APY.

Hancock Whitney has bank branches in Alabama, Florida, Louisiana, Mississippi and Texas.

Hancock Whitney CDs are good for Gulf state savers who are comfortable locking up their money for at least three months — but, ideally, 11 months to get the best rate. They’re also good for those with a smaller amount of money to save, as the minimum deposit to open a Hancock Whitney CD is $1,000.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Coryanne is an investing and finance writer whose work appears in Forbes Advisor, U.S. News and World Report, Kiplinger, and Business Insider among other publications. She discovered her passion for personal finance as a fully-licensed financial professional at Fidelity Investments before she realized she could reach more people by writing.

Hannah Alberstadt is the deputy editor of investing and retirement at ˽ýӳ Blueprint. She was most recently a copy editor at The Hill and previously worked in the online legal and financial content spaces, including at Student Loan Hero and LendingTree. She holds bachelor's and master's degrees in English literature, as well as a J.D. Hannah devotes most of her free time to cat rescue.