Best CD Rates in Texas

Looking to maximize your savings in Texas? It offers a diverse array of financial opportunities. In this regard, one such avenue for investors to grow their money is through Certificates of Deposit (CDs). Finding the best CD rates can significantly boost your returns while keeping your funds secure.

With a plethora of options available, navigating through the multitude of offers can be difficult. However, with careful consideration and research, you can uncover the most lucrative CD rates in Texas. It provides you with a stable foundation for financial growth and security.

Overall Best CD rates in Texas

No.	Bank Name	APY	Term Length	Address
1	American Bank, National Association	5.53%	6-month	2707 W Northwest Hwy Dallas, TX 75220
2	R Bank	5.40%	6-month	360 E Highway 29 Bertram, TX 78605
3	United Texas Bank	5.35%	6-month	13101 Preston Rd Dallas, TX 75240
4	Green Bank, National Association	5.35%	12-month	2408 Cedar Springs Rd Dallas, TX 75201
5	Sovereign Bank	5.35%	12-month	17950 Preston Rd Ste 100 Dallas, TX 75252
6	Veritex Community Bank	5.35%	12-month	2700 Oak Lawn Ave Dallas, TX 75219
7	Ciera Bank	5.33%	6-month	321 W Oak St Denton, TX 76201
8	Houston Police Federal Credit Union	5.33%	6-month	1600 Memorial Dr Houston, TX 77007
9	United Texas Bank	5.30%	12-month	13101 Preston Rd Dallas, TX 75240
10	American Bank, National Association	5.25%	12-month	2707 W Northwest Hwy Dallas, TX 75220
11	NexBank SSB	5.25%	12-month	2515 McKinney Ave Dallas, TX 75201
12	Alliance Federal Credit Union	5.20%	6-month	6716 82nd St Lubbock, TX 79424
13	American Airlines Federal Credit Union	5.12%	12-month	Trmnl D D24 Rm D24L316 Dallas, TX 75261
14	Southwest Airlines Federal Credit Union	5.10%	12-month	2430 Shorecrest Dr Dallas, TX 75235
15	Baptist Credit Union	5.05%	12-month	521 N Ervay St Dallas, TX 75201
16	Beal Bank, SSB	5.05%	12-month	15770 Dallas Pkwy Dallas, TX 75248
17	Navy Federal Credit Union	5.05%	12-month	6451 E Northwest Hwy Dallas, TX 75231
18	Navy Federal Credit Union	5.05%	12-month	6814 N Loop 1604 E San Antonio, TX 78247
19	Texasgulf Federal Credit Union	5.03%	6-month	1313 West Loop El Campo, TX 77437
20	One World Bank	5.03%	12-month	2449 Walnut Hill Ln P.O Box 29819 Dallas, TX 75229
21	EECU	5.00%	6-month	6001 Preston Rd Plano, TX 75093
22	People’s Trust Federal Credit Union	5.00%	6-month	3390 Sage Rd Houston, TX 77056
23	Neighborhood Credit Union	5.00%	12-month	650 Fort Worth Ave Dallas, TX 75208
24	Jefferson Bank	5.00%	3-month	1777 NE Loop 410 San Antonio, TX 78217
25	PlainsCapital Bank	5.00%	3-month	8200 W Interstate 10 San Antonio, TX 78230
26	Affiliated Bank	4.90%	12-month	100 Crescent Ct Dallas, TX 75201
27	Eastman Credit Union	4.89%	6-month	710 W Main StHallsville, TX 75650
28	Texas Capital Bank, National Association	4.88%	12-month	2000 McKinney Ave Dallas, TX 75201
29	Synergy Federal Credit Union	4.85%	3-month	19500 Bulverde Rd San Antonio, TX 78259
30	Frost Bank	4.55%	3-month	100 W Houston St San Antonio, TX 78205
31	Amegy Bank, National Association	4.54%	3-month	8525 Wurzbach Rd San Antonio, TX 78240
32	Jefferson Bank	4.50%	6-month	1777 NE Loop 410 San Antonio, TX 78217
33	PenFed Credit Union	4.50%	12-month	3911 S Walton Walker Blvd Dallas, TX 75236
34	Texas Capital Bank, National Association	4.50%	3-month	7373 Broadway St San Antonio, TX 78209
35	Unify Financial Credit Union	4.50%	3-month	1 Lone Star Pass San Antonio, TX 78264
36	Wells Fargo Bank	4.50%	3-month	6919 S Zarzamora St San Antonio, TX 78224
37	City Public Service/IBEW Federal Credit Union	4.40%	3-month	1002 Camden St San Antonio, TX 78215
38	Frost Bank	4.35%	6-month	7444 S Padre Island Dr Corpus Christi, TX 78412
39	Moody National Bank	4.25%	6-month	860 E Anderson Ln Austin, TX 78752
40	Third Coast Bank	4.01%	12-month	5330 W Loop 1604 N, San Antonio, TX 78253
41	BancorpSouth Bank	4.00%	6-month	600 N Travis St Sherman, TX 75090
42	National Bank	4.00%	6-month	5353 Williams Dr Georgetown, TX 78633
43	Bank of America, National Association	4.00%	3-month	1803 Broadway St San Antonio, TX 78215
44	Texas Bank	4.00%	36-month	309 Main Street, Henderson, TX 75652
45	ValueBank Texas	3.98%	3-month	3649 Leopard Street, Corpus Christi, TX 78408
46	Security State Bank & Trust	3.76%	3-month	100 S Halbryan St, Eastland, TX 76448
47	Resource One Credit Union	3.56%	12-month	1200 Belleview St Dallas, TX 75215
48	Trustmark National Bank	3.54%	6-month	6915A FM 1960 Rd W # 3 Houston, TX 77069
49	Lone Star Capital Bank, National Association	3.50%	3-month	755 E Mulberry Ave San Antonio, TX 78212
50	San Antonio Federal Credit Union	3.45%	3-month	11330 Potranco Rd San Antonio, TX 78253
51	First United Bank	3.45%	24-month	423 North Main Street, Dimmitt, TX 79027
52	Resource One Credit Union	3.40%	6-month	4801 Spring Valley Dallas, TX 75244
53	Wallis State Bank	3.05%	3-month	10100 Reunion Pl San Antonio, TX 78216
54	PenFed Credit Union	3.00%	6-month	11988 Alamo Ranch Pkwy San Antonio, TX 78253
55	A New Direction Credit Union	3.00%	12-month	8200 Walnut Hill Ln Dallas, TX 75231
56	Guaranty Bank & Trust	3.00%	18-month	303 W Wall St, Grapevine, TX 76051
57	Navy Federal Credit Union	2.75%	3-month	6814 N Loop 1604 E San Antonio, TX 78247
58	Texas Heritage Bank	2.75%	36-month	200 E Washington St, Sulphur Springs, TX 75482
59	Broadway Bank	2.68%	24-month	1177 NE Loop 410, San Antonio, TX 78209
60	Security Service Federal Credit Union	2.40%	3-month	9311 San Pedro Ave San Antonio, TX 78216
61	Citizens State Bank	2.00%	24-month	201 S Columbia St, Plainview, TX 79072
62	First Community Bank	1.98%	13-month	418 Villa Maria Rd, Bryan, TX 77801
63	Randolph-Brooks Federal Credit Union	1.00%	12-month	1 Randolph Brooks Parkway, Live Oak, TX 78233

Current CD Rates of Texas

The current CD rates in Texas offer an opportunity for investors to earn competitive returns on their savings while maintaining a low level of risk.

By locking in funds for a fixed term, individuals can take advantage of higher interest rates compared to traditional savings accounts.

These rates can vary depending on factors such as the term length and the financial institution offering the CD, but shopping around can help investors find the best rates to meet their financial goals.

Best 6 Month CD Rates

For those who are seeking short-term investment options in Texas, exploring the current offerings for 6-month CDs is prudent.

1. Bask Bank

Minimum Amount: $1000.00

APY / Rate: 4.45% APY

Pros:

• FDIC approved Bank
• Terms available from 6-24 months
• Top-tier APY rate with secured return guaranteed
• Customer-friendly terms

Rules:

• New customers have to open an account with the bank before investing in Bask Bank’s CDs.
• CDs can be opened at the bank as well as online
• The minimum deposit amount of $1000 must be deposited to the account within 10 days of account opening
• Early withdrawal is subject to a penalty.
• Investors can withdraw the interest credited to the account without any penalty.
• There is a 10 days grace period after maturity to make additional deposits to the CD.

2. Banesco USA

Minimum Amount: $1,500

APY Rate: 4.30% APY

Pros:

• Hispanic American-owned bank that supports local communities
• High APY for BanesGrow savings account
• Competitive CD rate
• Access your account 24/7 from desktop or mobile.
• All deposits are FDIC insured.

Rules:

• The account requires a $100 minimum deposit and carries a $15 monthly fee for balances below the $100 threshold.
• Interest earned may vary
• Consumers are limited to six withdrawals per month with a BanesGrow account.
• Transactions beyond the monthly withdrawal limit carry a $10 fee each.
• A $100 minimum deposit is required to open a BanesGrow account
• BaneSmart CDs offer high-yield interest in exchange for keeping your money in the bank long term.
•  CDs are available in five term lengths ranging from six months to 36 months.
• A $1,500 minimum deposit is required to open a CD account through the bank.

3. Capital One

Minimum Amount: $0

APY / Rate: 5.00%

Pros:

• No minimum balance required
• Interest is paid end of the term, monthly,, or annually
• 5-minutes easy account opening process
• FDIC insured investment options

Rules:

• A CD account can be opened online by accessing the website if you are already a member of Capital One bank.
• Interest is accrued daily but paid and compounded monthly.
• Premature withdrawal from the CD is subject to a penalty.

Best 1 Year CD Rates

Investors in Texas looking for a balance between earning potential and liquidity might find the best value in 1-year CD rates. These options offer a slightly higher return than shorter-term CDs.

1. Quontic

Minimum Amount: $500.00

APY / Rate: 4.45% APY

Pros:

• An APY that’s over 3x higher than the national average2
• Guaranteed returns – Once your CD is opened, the rate is locked in for the full year
• Interest compounded daily
• No monthly service fee
• FDIC insured to the maximum legal limits

Rules:

• Minimum balance: Some Quontic Bank accounts may require you to maintain a certain minimum balance to earn the advertised interest rate. If your balance falls below the minimum, you may earn a lower interest rate or be subject to monthly fees.
• Direct deposit: Some Quontic Bank accounts may require you to set up direct deposit to qualify for the best interest rates.
• Transactions: Some Quontic Bank accounts may have transaction requirements. For example, you may need to make a certain number of transactions each month to earn the advertised interest rate.
• Fees: Some Quontic Bank accounts may charge fees, such as monthly maintenance fees or transaction fees. You’ll want to review the account terms to understand any fees that may apply.

2.  Synchrony Bank

Minimum Amount: $0.00

APY / Rate: 4.30% APY

Pros:

• Best APY rate
• No minimum balance required
• High-yield savings options
• No penalty on premature interest withdrawal
• 10 days grace period after maturity to add more funds to the CD

Rules:

• The interest is compounded monthly and added to the account at the end of the month.
• There is no minimum balance required to earn interest.
• Also no penalty on premature withdrawals.

3. BMO Harris

Minimum Amount: $1000

APY / Rate: 4.50%

Pros:

• Top-tier interest rates in CDs
• A decent minimum balance amount
• Secure banking over the telephone, online, or at the branch
• FDIC insured bank

Rules:

• CDs can be closed or funds can be withdrawn by contacting the branch.
• The amount is transferred to a BMO account or paid via check.
• There are no monthly maintenance fees, only a penalty charged on early withdrawal of the amount.
• A notice is sent to the CD holder when it matures and there is a grace period of 10 days to add more funds or withdraw the CD before it gets auto-renewed.

Best 2 Year CD Rates

Texas residents aiming for a stable return over a slightly longer period can consider the current offerings for 2-year CD rates. These CDs provide a balance between locking in funds for growth and maintaining access to capital in the medium term.

1.  America’s First Credit Union

Minimum Amount: $500.00

APY / Rate: 4.75% APY

Pros:

• Low minimum deposits and high yields
• Automatic renewals
• NCUA insured up to $250,000
• Terms from three months to five years

Rules:

• To open a CD with AFCU, you must deposit a minimum amount of money, which varies depending on the term length of the CD. For example, as of February 2023, the minimum deposit for a 6-month CD is $500, while the minimum deposit for a 60-month CD is $1,000.
• AFCU offers CDs with terms ranging from 6 months to 60 months. The longer the term, the higher the interest rate you’ll earn on your deposit.
• Interest rates: AFCU offers competitive interest rates on its CDs, with rates varying depending on the term length and the amount of the deposit. Interest is compounded and paid monthly, and the rate is fixed for the term of the CD.
• Early withdrawal penalties: If you withdraw money from your CD before the maturity date, you’ll be subject to an early withdrawal penalty, which varies depending on the term length of the CD. For example, as of February 2023, the penalty for withdrawing money from a 60-month CD before maturity is 365 days of interest.
• Automatic renewal: Unless you specify otherwise, your CD will automatically renew at maturity for another term of the same length. You’ll have a 10-day grace period after maturity to withdraw the funds without penalty.
• FDIC insurance: AFCU is a federally insured credit union, which means that your deposits are insured by the National Credit Union Administration (NCUA) up to $250,000 per depositor.

2.  Quorum Federal Credit Union

Minimum Amount: $1000

APY / Rate: 4.60% APY

Pros:

• Extremely safe investment insured by NCUA
• Low maintenance fee
• High interest rate than regular saving accounts.

Rules:

• Account deposits of $100,000 earn an additional 0.10% APY.
• The penalty will be imposed if funds are withdrawn before maturity.

3.  Armed Forces Bank, N.A.

Minimum Amount: $500

APY / Rate: 4.580% APY

Pros:

• Military Early Pay.
• Free e.Statements or $5 paper statements.
• Free incoming wire transfers.
• Online Banking with Bill Pay.
• Mobile Banking with account alerts, including the mobile app, mobile browser, and Text Banking.
• Free Visa® debit card with EMV chip technology.
• No fee money orders for existing clients

Rules:

• A fixed rate of interest is earned on the entire balance.
• A minimum opening balance of $500 is required to obtain the disclosed annual percentage yield. There are penalties for withdrawing funds before the set term.\
• The amount depends on the length of the account term.
• You must deposit $1,000 to open this account.
• A total of six (6) withdrawals are allowed per month or statement cycle.
• Fees charged to the account could reduce the earnings on the account.

Best 5 Year CD Rates

Investors in Texas looking for long-term stability and growth potential can explore the current offerings for 5-year CD rates. These CDs make them suitable for those with longer investment horizons.

1.  GTE Financial Credit Union

Minimum Amount: $500

APY / Rate: 4.54% APY

Pros:

• Open with as little as $500
• Some of the best rates in the nation
• Variety of term options
• Open online in minutes
• Federally insured by NCUA

Rules:

• No early withdrawals may be made during the first 60 days from opening the Share Certificate.
• Early withdrawals will be penalized anywhere from 90 to 180 days of earned dividends. Please review your Certificate disclosure for more details.
• There are no penalties for monthly dividend withdrawals. Early withdrawal penalties will apply if the certificate is closed before the maturity date.
• You can withdraw up to 10% of the principal plus dividends one time per year (20% of the current balance if over 59 1/2 years old) with no early withdrawal penalty on IRA certificates.
• Any monthly withdrawals or transfers reduce earnings.

2. CFG Community Bank

Minimum Amount: $500.00

APY / Rate: 4.50% APY

Pros:

• The high yield rate of interest
• A decent minimum amount required
• FDIC insured banking option
• Strong customer support system

Rules:

• To open a CD an investor can approach the bank online or in-branch.
• The minimum deposit allowed in a CD is $500 and the maximum limit is set at $250,000.
• The interest on the CD is compounded monthly.
• Premature withdrawal from the CD is subject to a penalty.

3. BMO Harris

Minimum Amount: $1000

APY / Rate: 4.50%

Pros:

• Reasonable minimum balance obligation
• FDIC insured banking options
• Excellent customer support
• Online and at-branch banking options are available

Rules:

• CDs can be opened online or by contacting the branch in person or telephonically
• Interest is compounded monthly and credited to the account every month
• On maturity, during the 10 days grace period, an investor can alter the CD term to renew
• CD gets auto-renewed after 10 days post maturity
• The final amount is transferred to a BMO Harris account or paid via check

Texas Economic Statistics

Texas boasts a robust economy with enticing opportunities for investors and savers alike.

• With an average household income of approximately $61,000 per year, Texans have a solid foundation for financial stability and growth.
• Additionally, the average home value in Texas hovers around $229,000, making real estate investment an attractive option for those looking to diversify their portfolio
• Furthermore, Texas remains one of the fastest-growing states in the U.S., with a population of over 30 million residents, offering a dynamic consumer market for businesses and investors.

Economic Statistics	Texas
Average Household Income	$61,000 per year
Average Home Value	Approximately $229,000
Population	Over 30 million residents

Against this backdrop, investors who are seeking to capitalize on Texas’s economic vitality can leverage the state’s favorable conditions by exploring the best CD rates available.

How to Get the Best CD Rates in Texas: A Step-by-Step Guide

In order to get the best CD rates in Texas the following guide might prove helpful in this regard.

1. Research Financial Institutions. So start by researching various banks, credit unions, and online financial institutions in Texas. Look for institutions known for offering competitive CD rates and reliable customer service.

2.Carefully review the terms and conditions of each CD offer, including penalties for early withdrawal, automatic renewal policies, and any fees associated with the account. Afterwards, choose a CD that aligns with your financial goals and risk tolerance.

3.Additionally, don’t limit your search to brick-and-mortar institutions. Online banks often offer higher CD rates due to lower overhead costs.

4.Be sure to research reputable online banks with FDIC insurance to ensure the safety of your funds.

Once you’ve identified the best CD rate for your needs, open an account with the chosen financial institution. Follow their specific procedures for opening a CD account and fund it with the required minimum deposit.

Last but not the least, periodically review your CD rates and terms to ensure they continue to meet your financial objectives. Consider renewing your CD or exploring other investment options as needed.

CD Rates Methodology

In compiling the best CD rates in Texas, we reviewed rates from a comprehensive list of 92 banks, credit unions, and online financial institutions across the state.

After thorough evaluation, we selected 63 institutions that met our criteria for offering competitive rates, transparent terms, and reliable service.

Our methodology involved analyzing various factors, including APY, minimum deposit requirements, and customer reviews, to provide readers with a curated list of the top CD rates available in Texas.

Conclusion

Securing the best CD rates in Texas requires diligent, comparison, and evaluation of various financial institutions and their offerings.

By following the steps outlined in this guide and leveraging our comprehensive methodology, investors can make informed decisions to maximize their returns while minimizing risk.

FAQs