Contents
The Offer
- State Bank of Texas is offering a 12-month CD with a 5.00% APY interest rate.
State Bank of Texas is FDIC insured and is available nationwide with an online account opening.
Our Verdict
5% CD leads the pack. We’ve added this to our List of Best High Yield Savings Rates for CDs. You can also get the same 5% rate from Andrews Credit Union on a 7-month CD and you can get close to these rates with brokered CDs.
Hat tip to reader Chris
View Comments (13)
Any recent review with this bank?
5.35% for 12-month CD, but now requires $100k minimum deposit
The guy in their website looks like Daymond John
I'm seeing 4.65%
website showing 4.65%
Wow, that went fast
Maybe they weren't ready for the thousand DOC readers all trying to sign up at once.
Exactly. I saw the 5% just 2 days back. This is the second bank that I saw has changed the rate so fast.
5% sounds good now, but it's expected that the Fed will continue to raise rates, increasing the benchmark rate to around 5.1% next year. So T-bills will probably also be around 5% in the near future.
"On Wednesday, Fed officials forecast a total three-quarter point more in rate increases next year before they pause, bringing the benchmark rate to a peak of about 5.1%"
there will be interest accounts with 5% in the next few months. Not a deal. 6% now is probably when I'd bite, and I would be shocked if that happens.
Waiting for the next hike.
Sure, majority of liquid money is tied up in
iBonds + Stock Market + T Bills in addition to HSA/401K etc
I have about $30K in liquid available, so putting $25K leaves me $5K, I am thinking Jan 1st next year putting another $10K in iBond, and $6K in IRA, which is why i am a bit hesitant to put the money in now for the CD
seems tempting, does anyone have experience w this bank?