Spectra Bank CD Rates
Spectra Bank is a bank that provides only the best services to its clients by helping them manage financial situations and find financial solutions. In case you want to open a CD account with Bridge City State Bank, you will also need to be a member. For that, you are required to contact authorities.
For more convenience, here is the detailed description of CD terms along with the comprehensive considerations in the section below;
Spectra Bank CD Rates Offers
The most competitive Spectra Bank CD Rates are;
14-Month CD
- Term: 14 months.
- Interest Rate: Earn a competitive 5.15% Annual Percentage Yield
- Minimum Opening Deposit: $5,000.
Considerations
- Be aware of potential penalties if you need to access your funds before maturity.
Pros & Cons
| Pros | Cons |
| Competitive 5.15% APY | Locked-in for 14 months |
| Early withdrawal penalties apply |
7-Month CD
- Term: 7 months.
- Interest Rate: Enjoy a competitive 4.99% Annual Percentage Yield (APY).
- Minimum Opening Deposit: $5,000.
Considerations:
- Benefit from a stable interest rate, safeguarding your investment against market changes.
- Understand potential penalties if you need to withdraw funds before the CD matures.
Pros & Cons
| Pros | Cons |
| New money rate | Limited time for interest growth |
| Fixed interest rate | May miss out on higher rates in the future |
How do Spectra Bank CD Rates Compare?
When compared to other institutions, such as CIBC Agility, KS State Bank, Bayer Heritage Federal Credit Union, NexBank, Communitywide Federal Credit Union, and Lafayette Federal Credit Union, Spectra Bank’s rates hold their own, providing a solid choice for investors.
While CIBC Agility slightly edges ahead in terms of APY, Spectra Bank remains competitive, especially for those favoring the 14-month CD.
| Institution | APY | Comparison with Spectra Bank CDs |
| CIBC Agility | 5.36% | Higher than both Spectra Bank CD terms |
| KS State Bank | 5.15% | Slightly higher than Spectra Bank CDs |
| Bayer Heritage FCU | 4.602% | Slightly higher than Spectra Bank CDs |
| NexBank | 5.40% | Slightly higher than Spectra Bank CDs |
| Communitywide FCU | 5.30% | Comparable, but slightly higher than 7-Month CD |
| Lafayette FCU | 5.09% | Comparable, but slightly lower than Spectra Bank CDs |
Ultimately, the choice between these institutions should consider individual preferences, financial goals, and the specific terms and conditions associated with each CD offering.
Overview Spectra Bank
Employees of Spectra Bank are also provided with a rich and rewarding work environment to help them succeed. They have online banking and also provide loans, checking and savings accounts, and more.
Golden Bank National Association was established in 1985 as a way to respond to the banking demands of Asian communities, businesses, and new immigrants in Houston, Texas.
Since then the bank has expanded and is now known as a five-star bank in Texas. Bridge City State Bank was founded in 1959 and is a convenient and customer-oriented bank based in Texas.
They offer online banking, Mobile banking, and 24-hour telephone customer service, as well as in-person banking.
To apply for a CD in Spectra Bank, you must already be an existing member of the bank. You must also already live in Texas. To find out about their other requirements, you need to contact the bank first.
You must also be an existing member of the Golden Bank National Association to open a CD with them. This means you have to already have a checking or savings account with them.
Availability
In order to apply for a CD in Spectra Bank, you must already be an existing member of the bank. You must also already live in Texas. In order to find out about their other requirements, you need to contact the bank first.
You must also be an existing member of the Golden Bank National Association in order to open a CD with them. This means you have to already have a checking or savings account with them.
If you want to open a CD account with Bridge City State Bank, you will also need to be a member.
Locations Spectra Bank
Branches in Texas
The branches in Texas are:
Dallas, Fort Worth, San Antonio, Houston, Plano, Sugar Land, Bridge City, and Lumberton.
Frequently Asked Questions
Once a Spectra Bank CD is opened, additional funds cannot typically be added until the CD matures
Spectra Bank offers two primary CD terms: 14 months and 7 months. The term you choose depends on your financial goals and time horizon.
Interest on Spectra Bank CDs is typically paid at the end of the term. The interest can be added to the principal, transferred to another account, or provided as a payout, depending on the account holder’s preference.
Spectra Bank employs robust security measures to protect CD investments, including encryption technologies and secure online banking systems. Additionally, Spectra Bank is likely to be insured by the FDIC, providing up to $250,000 in coverage per depositor, per account category, in the event of bank failure.