You've probably seen the signs while driving down Gravois or Lindbergh. Big, bold numbers plastered on bank windows promising 4% or maybe even 5% on your money. It looks like easy wins. But honestly, chasing CD rates St. Louis banks are offering in 2026 is getting a lot more complicated than just picking the biggest number on a billboard.
The Federal Reserve has been busy. After a string of rate cuts through late 2025, the "easy" high-yield era is cooling off. If you’re sitting on cash in a standard savings account at one of the big national chains, you're basically burning money. While the giants like Chase or BMO might offer you a measly 0.01% or 0.05%, local St. Louis institutions are still scrapping for your business.
But there’s a catch.
Most people in the Gateway City are locking their money into the wrong terms because they’re scared of what the economy might do next month.
The Local St. Louis Advantage (It's Real)
National averages for a 1-year CD are hovering around 1.93% right now. That’s fine, I guess, if you like mediocrity. But we live in a city with a weirdly competitive banking scene. Between the massive credit unions like First Community and Together Credit Union, and regional players like The Bank of Missouri, you can do way better.
Take a look at the current landscape. As of mid-January 2026, First Community Credit Union is still dangling a 7-month special at 3.75% APY. That’s a specific, odd-ball term. Why? Because banks use these "broken" terms (7 months, 9 months, 13 months) to manage their own math while giving you a better deal than the standard 6 or 12-month options.
Then you have M1 Bank, which has been a local outlier lately. They’ve been known to push 10-month and 15-month specials that occasionally touch the 5% mark for the St. Louis metro area. It’s a classic "local hero" move to keep deposits in the city rather than letting them flow out to Wall Street.
Why the 12-Month CD is Kinda Trapping You
Everyone loves the one-year mark. It’s clean. It’s easy to remember. But in the current 2026 market, the 12-month CD is often a "valley" in the rate curve.
Banks are currently betting that rates will continue to drop toward the end of the year. Because of that, they’re willing to pay you more for a 7-month "sprint" or a 5-year "marathon," but they’re getting stingy on the 1-year middle ground. Together Credit Union, for instance, has recently shown a 9-month certificate at 3.75% while their longer-term 36-month and 60-month options sit slightly lower at 3.45%.
If you just blindly click "12 months" on an online application, you might be leaving 0.20% to 0.40% on the table. Over $25,000, that’s a decent dinner at Tony's you're just throwing away.
Breaking Down the 2026 Numbers in St. Louis
You don't need a spreadsheet to see the trend. Here is how the local heavyweights are currently playing the game:
Commerce Bank is playing it safe. Their standard 1-year rates are often closer to 2.75%. It’s reliable, sure, but it’s not going to win any "best of" lists for yield. They do have "Oasis Specials" though, where a 13-month term can get you up to 3.91%. It pays to ask for the special; they rarely lead with it if you just walk in to open a basic account.
First Community is the volume leader. They have a massive footprint here. Their 5-year CD is currently around 3.00%, but their 7-month special at 3.75% is the real star. It’s a "new money" play, meaning you usually can't just move money from your existing savings account with them to get that rate. You have to bring in cash from outside.
The Bank of Missouri is another regional powerhouse to watch. Their 13-month CD has been hanging out around 3.79% APY. They’re great if you want that local-bank feel but need a rate that competes with the online-only monsters like Marcus or Ally.
The "Hidden" Risks of St. Louis CD Specials
I see this all the time. Someone gets excited about a 4.10% rate at a smaller credit union and plops down $50,000. Three months later, their AC dies during a classic St. Louis humidity spike, and they need that cash.
The early withdrawal penalty (EWP) will eat you alive.
Most St. Louis institutions charge anywhere from 90 days to 180 days of interest if you crack the CD early. If you’re in a 12-month CD and pull the money at month three, you might actually end up with less money than you started with after the penalty.
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If you think you might need the cash for a rainy day (or a snowy January one), look for "No-Penalty" CDs. They aren't as common at local brick-and-mortar branches, but BMO (which has plenty of branches around town) sometimes offers them. You'll take a hit on the APY—maybe getting 2.50% instead of 3.80%—but you won't be locked in a cage if life happens.
Strategy: The St. Louis Ladder
Instead of putting all $30,000 into one 12-month CD, smart savers in the 314 are "laddering."
Basically, you split your money. $10k goes into a 6-month CD. $10k goes into a 12-month. $10k goes into an 18-month. Every six months, a "rung" of your ladder matures. If rates have gone up (unlikely this year, but hey), you reinvest at the higher rate. If rates have gone down, you’re glad you locked in that 18-month chunk when you did.
It gives you liquidity. It gives you peace of mind. It’s sort of like having your Provel and eating it too.
What to Look for Before You Sign
Don't just chase the APY.
- Compounding Frequency: Some banks compound daily, others monthly. Daily is better. It's a small difference, but it adds up over a long term.
- Minimum Deposits: Together Credit Union usually requires $1,000. Some "Elite" or "Jumbo" CDs at places like Regional Missouri Bank might require $50,000 to get the top-tier 3.91% rate.
- The "New Money" Clause: This is the big one. If you already have your money at First Community, you might not qualify for their best advertised CD rates St. Louis residents see on TV. You might have to move your money to Central Bank or Simmons Bank for six months just to become a "new customer" again.
Actionable Steps for St. Louis Savers
Stop letting your money sit in a 0.10% savings account. It’s 2026, and while the "easy" 5% days are fading, you can still beat inflation if you're surgical about it.
Start by checking the "Specials" page of First Community and Together CU—they almost always have a term that doesn't end in a 0 or a 5 (like 7 or 13 months) that pays significantly more.
If you have a larger balance, walk into a Bank of Missouri or Midwest BankCentre branch and ask if they can match a rate you saw online from a national bank. You’d be surprised how often a branch manager can "find" an extra 0.25% to keep a local account from leaving.
Lock in your rates now. With the Fed signaling more cuts later this year, the 3.75% you see today might be a 2.75% by the time the Muny opens this summer.
Check your maturity dates. If you have a CD ending this month, don't let it "auto-renew." Banks often auto-renew you into their worst "standard" rate, not the high-yield special you originally signed up for. Move that money manually to the next best deal.