A certificate of deposit, or CD, is a product offered by banks and credit unions that provides an interest rate premium on a lump-sum cash deposit that will go untouched by the customer for a predetermined length of time.

Many banks have CD products, including Citi Bank, Goldman Sachs, Discover, and Capitol One.

In this review, we will only be covering OZK and its CD product.

Bank OZK CD Rate Offers

If you’re looking for the best possible interest rates, with longer duration terms, take a look at the Bank OZK different CD rate offers:

6-Month CD

Key Features

  • Minimum Deposit: $1,000
  • APY: 0.05%
  • Generally lower interest rates compared to longer-term CDs.
  • Ideal for those needing access to funds within a relatively short period.


  • Compare the APYs offered by different banks to ensure you’re getting a competitive rate.

Pros & Cons

Short-term commitment.Lower interest rate.
Quick access to funds.Limited time to benefit from rates.

12-Month CD

Key Features

  • Minimum Deposit: $1,000
  • APY: 0.12%
  • One-year commitment with a fixed interest rate.
  • Suitable for individuals looking for a balance between liquidity and higher interest.


  • Precisely go through and understand the penalties if you need to access your funds before the CD matures.

Pros & Cons

Moderate interest rate.Ties up funds for a year.
Balances liquidity and returns.Rates may be lower compared to longer terms.

24-Month CD

Key Features

  • Minimum Deposit: $1,000
  • APY: 0.20%
  • Longer-term commitment with a fixed interest rate.
  • Ideal for individuals willing to lock in their funds for a more extended period to earn a better return.


  • Before checking up, Confirm that the bank is FDIC-insured to protect your deposit up to the maximum allowed limit.

Pros & Cons

Higher interest rate.Longer commitment period.
Potentially better return.Limited access to funds for an extended time.

Are Bank OZK CD Rates Competitive?

The APYs for Bank OZK’s CDs are 0.05% for the 6-month term, 0.12% for the 12-month term, and 0.20% for the 24-month term. To determine whether these rates are competitive, it’s essential to conduct a comparison approach of it, with rates offered by other local banking and financial institutions.

For instance, if other local banks in your area are offering significantly higher rates for similar CD terms, Bank OZK’s rates might be considered less competitive. On the other hand, if the rates are in line with or even higher than the average rates offered by other institutions, Bank OZK’s CDs could be deemed competitive.

To assess the competitiveness, you are required to;

  • Conduct survey rates from various banks in your locality.
  • Consider factors like minimum deposit requirements, penalties for early withdrawal, and overall terms and conditions.
  • Additionally, financial market conditions can impact CD rates, so staying informed about current trends is crucial for making well-informed decisions.

How do Bank OZK CD Rates Compare?

When comparing CD rates, Bank of the Ozarks offers competitive rates across various terms among the other banking institutes.

  • For the 6-month term, the Bank of the Ozarks provides a 0.05% Annual Percentage Yield (APY). In contrast, HSBC offers a notably higher rate of 4.25%, making it a more lucrative option for those seeking a short-term investment with higher returns. Ally and Marcus by Goldman Sachs also present compelling alternatives with 3.50% and 4.90% APYs, respectively.
  • Moving to the 1-year term, Bank of the Ozarks maintains a 0.12% APY. However, HSBC surpasses this with an impressive 4.85% APY, offering a significantly better return on investment. Ally and Marcus by Goldman Sachs also provide competitive rates at 4.85% and 5.10% APYs, respectively.
  • In the 2-year term, Bank of the Ozarks continues to be competitive with a 0.20% APY. HSBC offers a similar rate of 4.25%, while Marcus by Goldman Sachs provides a slightly higher rate at 4.40%. Notably, Ally does not offer a 2-year CD in this comparison.

Overview Bank OZK

Bank of the Ozarks started in 1903 as a community bank in the small town of Jasper, Arkansas. It maintained its status as a low-level community bank for the next 90 years. In 1994, management at OZK launched an aggressive growth strategy to expand their brick-and-mortar locations and began offering more sophisticated products and services. They hold assets of over 30.76 billion dollars.

OZK offers CD accounts with guaranteed interest rates and a variety of maturities. However, OZK only allows customers to open up longer-duration CDs in person at their brick-and-mortar locations

Locations Bank OZK

Today, OZK has locations spread throughout;


 What are the current APYs for Bank OZK CD terms?

Bank OZK offers varying APYs for different CD terms. The most recent and updated rates are 0.05% for 6 months, 0.12% for 1 year, and 0.20% for 2 years.

What is the minimum deposit requirement for Bank OZK CDs?

The minimum deposit requirement for Bank OZK CDs is $1,000.

Are there penalties for early withdrawal from Bank OZK CDs?

Yes, like many CDs, Bank OZK imposes penalties for early withdrawal. It’s important to review the terms and conditions for specific penalty details.

How do Bank OZK CD rates compare to other banks in the region?

Bank OZK CD rates are competitive, but it’s advisable to compare them with rates from other local banks to ensure you are getting the best possible returns.

Does Bank OZK offer any special promotions or higher rates for larger deposits?

Bank OZK has promotional offers or higher rates for certain deposit amounts. The latest promotions and terms are designed as per the financial deposits and considerations.