Bank CD rates in Texas were a mixed bag for the week ending May 1, 2009. The very short term, six month CD rates, in Texas continue to crush the best national CD rates. The remainder of the terms are falling slightly behind with the exception of one five year CD rate offer.
For six month CD rates, all but one of the bank rates exceeds the national rates. The best six month CD rate is being promoted by American First National Bank with an interest rate of 2.64%, well above most banks. Wilshire State Bank with a six month CD rate of 2.53% has fallen to second position. Access 1st Capital Bank follows with a nine month term CD that has a rate of 2.45%. Five basis point lower is the seven month promotional CD of Northstar Bank of Texas with a rate of 2.40%. Sate Bank of Jewett pops up on the list with a seven month CD that earns a rate of 2.31%.
The best one year CD rate in Texas increased by two basis points or 2/100 of a percent. Alas, the best national rates increased by more and the best national rate of GMAC Bank now surpasses the bank rates in Texas. The highest one year CD rate in Texas stands at 2.64% and is a product of American First National Bank. A mere one basis point back is an odd term CD that mature in 13 months offered by Sate Bank of Jewett and has an interest rate of 2.63%. A jump down is the one year CD offered by Wilshire State Bank that yields 2.53%. Southwestern National Bank comes up next with a one year CD rate of 2.50%.
The best two year CD rate in Texas jumped up five basis points yet is still eclipsed by the top national rate. NexBank now owns the top spot for a two year CD with an interest rate of 2.85%. Sate Bank of Jewett has taken the second spot with a two year CD that earns a rate of 2.78%. Following this rate by two basis points is the two year CD of Mutual Bank with a rate of 2.76%. Southwestern National Bank is not far behind with a CD rate of 2.70%. United Central Bank and Round Top State Bank round out the list with identical CD rates of 2.60%, United’s is on a two year while Round Top offers the rate on a 30 month term.
Access 1st Capital Bank remains unseated as the best five year CD rate in Texas and does in fact handily beat the best national five year CD rates with a rate of 3.71%. Green Bank remains in second position again but has company this week with Northstar Bank of Texas as both offer five year CDs that yield 3.50%. Mutual Bank also keeps its position with a rate of 3.34%. Texas Bank’s five year CD with an interest rate of 3.25% comes up next. Equity Bank concludes the list with a five year CD rate at 3.20%.
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