Finding big CD rates in Texas is not too easy to come across in this current interest rate environment.  The task may seem especially trying when looking among the smaller institutions based in the Lone Star state.  But low and behold, a tiny bank hiding in plain sight right in the heart of the state offers some Texas sized CD rates.  In fact, this tiny bank offers CD rates that tower above the national average CD rates at the present time.

The big Texas CD rates can be found at Oglesby State Bank.  Texas is home to roughly 550 banks or more precisely, 554 based on the most recent data available from the FDIC.  Oglesby State Bank ranks as the second smallest bank in the state or number 553 based on total assets.  As rude as it sounds, size does not matter when it comes to grabbing the best CD rates. 

Little Oglesby State is FDIC insured just like Chase Bank or the largest bank based in Texas, Comerica Bank.  And little Oglesby State offers CD rates well above the rates offered by those institutions.  Little Oglesby State Bank didn’t get into the banking business yesterday, the bank was established in 1925 and has served as a financial services source for the consumers and businesses in Oglesby and the surrounding area since that time.

The CD rates in Central Texas promoted by Oglesby State Bank are fixed for the term of the CD and interest is calculated daily and compounded monthly, quarterly or semi-annually.  The interest may be reinvested in the account, credited to a Oglesby State Bank checking, savings, or money market account, or paid directly to the customer by check. 

The bank offers terms from 30 days to 60 months.  There is a minimum deposit requirement of $500.00 needed to open the bank CD accounts.  The CDs are automatically renewable and there is a grace period for withdrawal or deposit without penalty at the time of renewal. 

Current CD rates available in Central Texas from Oglesby State Bank include the following interest rates and terms:

The shortest term, 30 day CD rate is 0.10%. 
The 3 month term CD has an interest rate of 0.25%. 
6 month CDs earn an interest rate of 0.35%.
The One year CD rate is 0.65%.
18 month CDs at Oglesby yields 0.75%.
A two year CD has an interest rate of 0.85%. 
The 30 month CD and three year term certificate both yield 1.00%. 
A five year CD rate is at 1.50%.

The national average CD rates for similar term certificates posted by the FDIC on May 20, 2013 include the following:

The three month national CD rate is just 0.08%.
Six month CD rates are at 0.13%.
The one year national CD rate is 0.21%.
The five year rate is 0.74%.

The CD interest rates listed are current as of May 21, 2013 and are subject to change at the bank’s discretion prior to opening an account.  Early withdrawals will be subject to a substantial penalty.

Oglesby State Bank offers a wide variety of other account options, including checking accounts, interest-bearing accounts, commercial checking, savings accounts, and IRA CDs.

For more information on the bank CDs and CD rates offered in Central Texas by Oglesby State Bank, a customer service representative can be reached by calling the bank at (254) 470-2261.

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