The state of Texas has five local banks surpassing the best short term CD rates on the national lists.  The best national rate belongs to GMAC Bank with a rate of 2.25%, the top Texas rate is 20 basis points above this interest rate.  Access 1st Capital Bank leads the short term CDs with a 9 month CD that has an interest rate of 2.45%.  Southwestern National Bank is a close second with a CD rate of 2.40%.  Golden Bank moves to third position with a six month CD that yields 2.30%.  Two more banks are at 2.25% or higher and La Jolla Bank ends the top six month CD rate list with a CD that has an interest rate of 2.15%.

Oddly, the one year CD rate category does not compare quite as well with the rest of the country; the best one year CD rate is at Southwestern National Bank with an interest rate of 2.60%.  Wilshire State Bank comes in a close second with a one year CD that earns an interest rate of 2.53%.  Following this offer is the one year CD of United Central Bank with an interest rate of 2.50%.  The list runs on and ends with Access 1st Capital Bank marketing an 18 month CD with a rate of 2.45%.

The best two year CD rates in Texas continues the movement down and away from the best rates offered nationally.  Southwestern National Bank has the best two year CD rate at 2.80%, 10 basis points lower than the best national rate offered by GMAC Bank.  Mutual Bank, based in Illinois but which operates in several states, has the next best two year CD with an interest rate of 2.76%.  Two basis points lower is the two year CD marketed by Hillcrest Bank with a yield of 2.74 %.

The five year CD rates in Texas also do not compare favorably to the national figures.  The best five year CD rate in Texas for the week has an interest rate of 3.71%.  This CD rate is offered by Access 1st Capital Bank.  Rates on five year CDs fall  from here, with Green Bank marketing the next best CD with a rate of 3.50%.  Mutual Bank drops to third position with a CD rate of 3.34%.  From this point rates diminish even further with Integrity Bank’s five year CD at 3.15% wrapping up the list.

Tags: , , , , , , , , , ,

No user commented in " Texas CD Rates Update April 17, 2009 "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)