Hancock Whitney Bank is the combination of two banks that have been around for over 100 years: Hancock Bank and Whitney Bank. The two merged in 2010, and although you may still see Hancock Bank locations in Mississippi, Alabama and Florida and Whitney Bank locations in Louisiana and Texas, all the locations are under the Hancock Whitney umbrella.
The bank offers certificate of deposit (CD) accounts with term lengths from seven days to seven years. Also offered is a 3-month Promo CD, which is the only account with a rate close to the best CD rates we’ve examined. The standard offerings are quite low in comparison, but the wide variety of term lengths does allow for the construction of a CD Ladder.
Read on for all the details about CD accounts at Hancock Whitney.
To calculate how much interest you could earn with a CD, try using SmartAsset's CD calculator.
Hancock Whitney Standard CD
| Term Length | Minimum Deposit | APY |
| 7-30 Day | $1,000 | 0.01% |
| 31-90 Day | $1,000 | 0.06% |
| 6 Month | $1,000 | 0.08% |
| 9 Month | $1,000 | 0.01% |
| 12 Month | $1,000 | 0.18% |
| 13 Month | $1,000 | 0.10% |
| 14 Month | $1,000 | 0.10% |
| 17 Month | $1,000 | 0.11% |
| 18 Month | $1,000 | 0.95% |
| 21 Month | $1,000 | 0.13% |
| 23 Month | $1,000 | 0.14% |
| 24 Month | $1,000 | 0.95% |
| 30 Month | $1,000 | 0.20% |
| 36 Month | $1,000 | 1.00% |
| 42 Month | $1,000 | 0.22% |
| 48 Month | $1,000 | 2.75% |
| 60 Month | $1,000 | 1.00% |
| 84 Month | $1,000 | 0.40% |
Hancock Whitney Promo CD
You are not required to use new money (money that isn’t currently in a Hancock Whitney account) in order to purchase the Promo CD. The only thing that differentiates it from the bank’s standard offerings is that it will not automatically renew as the same CD once it matures and the grace period ends. Instead, it will renew as a 12-Month standard CD, which has a rate of 0.10%.
| Term Length | Minimum Deposit | APY |
| 3 Month | $1,000 | 4.25% |
| 5 Month | $1,000 | 3.75% |
| 8 Month | $1,000 | 3.49% |
3-Month Promo CD Interest Rate Comparison
Overview of Hancock Whitney CD Rates
Hancock Whitney offers a good range of term lengths for its CD accounts, going as short as seven days and as long as seven years.
If, for any reason, you need some or all of your principal back before your CD fully matures, you’ll have to pay what’s called an early withdrawal penalty. For term lengths of fewer than 365 days, your early withdrawal penalty would be three months worth of simple interest on the amount you’re withdrawing. For any term length of one year or longer, the penalty doubles to six months worth of simple interest.
Once your CD reaches maturity, you’ll have a grace period of 10 days to either withdraw the money or place it in a different CD. Otherwise, your CD will renew for another term of the same length. If you purchased a Promo CD and don’t act during your grace period, you’ll be renewed for a standard CD.
Compare Whitney Bank to Other Competitive Offers
How Much You Earn With a Hancock Whitney CD Account Over Time
Interest on all Hancock Whitney CDs compounds monthly, at which point it can either be paid out to you or left in the account. If you can manage it, it’s always a good idea to leave your interest in your account so that it can accrue interest on itself and raise your maximum earning potential. The fact that interest compounds monthly and not daily does mean that you can’t earn quite as much interest, but since the rates are pretty low, the difference is almost negligible. For example, a $10,000 in a 3-month CD at Hancock Whitney will earn you $104.60 in interest. If that same investment were to compound daily, you would earn an extra two cents.
| Initial Deposit | 3 Month Promo CD |
| $1,000 | $1,010.46 |
| $2,500 | $2,526.15 |
| $5,000 | $5,052.30 |
| $10,000 | $10,104.60 |
How Hancock Whitney CD Rates Compare to Other Banks'
Looking strictly at its standard offerings, the Hancock Whitney CD rates are on the low end of the spectrum. The rates can’t match up with regional competition like BankUnited or even those of national behemoths like CitiBank, which are often low due to the costs of maintaining so many physical branch locations.
Compared to online competition like rates at Capital One, the Hancock Whitney rates are sometimes as much as 20 times smaller. Hancock Whitney's 3-month Promo CD is a much more competitive rate, especially for that kind of term length. The only drawback that there is if you’re looking to invest for a longer period of time is that you can’t necessarily rely on renewing that Promo rate over and over, as the rate may not be available for renewal in 3 months.
| Term Length | Hancock Whitney | BankUnited | Citi | Capital One |
| 3 Month | 4.25% | - | 0.05% | - |
| 6 Month | - | 4.50% | 3.50% | 4.20% APY (as of 9/17/24) |
| 12 Month | - | 3.00% | 2.50% | 4.20% APY (as of 9/17/24) |
| 60 Month | - | - | 2.00% | 3.50% APY (as of 9/17/24) |
Should You Get a Hancock Whitney CD Account?
With the exception of the 3-month Promo CD, the CD rates at Hancock Whitney aren’t much to get excited about. If you’re already a Hancock Whitney customer and looking to consolidate all your banking under one roof, then you may want to consider giving the Promo CD a look. If keeping your assets in one place isn’t as much as a concern for you, then you’ll likely be able to find better CD rates elsewhere, especially if you don’t mind banking online.
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