What are the CD rates for Bank OZK (formerly known as Bank of the Ozarks) as of 2022?


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.

CD Rates

What are OZK’s CD rates and how do they compare to other banks?

To be totally honest, interest rates on OZK CDs are not the best.

Brick-and-mortar banks are not known for offering the highest interest rates for savers, and OZK, with its 240 locations, is no different in that respect.

OZK offers 0.05% APY for its 6 month duration CD, 0.12% for its 12 month CD, and 0.20% for its 24 month CD respectively.

The national average CD rate for brick-and-mortar banks is hovering around 0.60% APY.

At 0.20% for a 24-month term, OZK CD rates are well below average, even for brick-and-mortar institutions.


OZK CD terms range from 7 days to 5 years. However, if opened online, OZK CDs only have terms between 6 months and 24 months.

To open a CD account with a longer term, you have to visit one of their branches in person.

For accounts opened online, OZK has different rates depending on the term of the CD. 

  • 0.05% for 6 months
  • 0.12% for 12 months
  • 0.20% for 24 months

Each term has a minimum deposit amount of $1000, which is fairly standard across the CD market.

Similar to other banks, OZK charges an early withdrawal fee if you decide to withdraw your funds before the CD reaches maturity.

The interest on CDs at OZK is compounded monthly, and the interest rate will remain fixed for the entire duration of the CD. 

OZK CD Details You Should Know

If you open a CD account with OZK online, you are limited to terms between 6 months and 24 months.

For access to CD terms ranging from 7 days to 5 years, you’ll have to visit a local branch and open an account in person.

Are OZK Bank CDs the Best Option for Savers?

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.

OZK interest rates range from 0.05% to 0.20%, depending on the duration, which is quite low compared to some other online banks.

If you’re looking for the best possible interest rates, with longer duration terms, there are other options out there that have higher yields and better optionality.

About OZK

Bank of the Ozarks started out 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. Today, OZK has about 240 locations spread throughout Texas, Georgia, North and South Carolina, Alabama, Florida, and Arkansas. They hold assets in excess of $26 billion dollars.