Certificates of Deposit
Looking for a secure way to earn more on your money? Our Certificates of Deposit (CD's) let you maximize your interest earnings with the same security as a savings account.
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Secure Savings and Guaranteed Interest RatesOpening a CD can be a wise move. With it, you can enjoy higher fixed interest rates while still having all the security of an FDIC-insured savings account. At Bank of Texas, our CDs are an especially smart choice because we offer so many different types. With terms from one week to seven years, and interest rates that can exceed 1%, it won't be hard to find the right CD for you.
Competitive Interest Rates
We offer competitive interest rates so your money can work for you. Visit our deposit rates page for more information on terms and rates. And don't forget, with our qualifying Bank of Texas personal checking accounts, you'll earn an extra 0.10% on all new CDs.
We offer plenty of options when it comes to our terms, so even if you know you'll need to use your money soon, you can still take advantage of our competitive interest rates. Our terms run from seven days to seven years with lots of options in between, so you never need to make more of a commitment than you feel comfortable making.
Security at Any Level
Our interest rates are fixed from the day you put your money in, so your great rate is locked and you never need to wonder how much you're earning. Plus, our CDs are FDIC insured up to $250,000.
Additional Benefits Include
Minimum Balance Requirements
How It Works: Certificates of Deposit
A CD is a Certificate of Deposit. It's as secure as a savings account, but offers higher interest in exchange for your willingness to keep your money in the bank for a fixed period of time. Your money will grow faster than if you keep it in a savings account, but unlike savings accounts, a CD has a maturity date when you can withdraw your money. If you choose to take money out of your CD before then, you'll have to pay an early-withdrawal fee.
CD laddering is an investment strategy that takes advantage of the higher interest rates that CDs offer while still offering a bit of liquidity for your investment. To do it, you divide the amount of money you want to have in CDs, and invest smaller amounts into different CDs with varied maturity dates. You might put money into a one-year, two-year and three-year policy, and when the first CD expires, if you don't have an urgent need for it, you can put that money into another three-year CD. This way, eventually you'll have a rotating portfolio of the highest interest rates, while still having the option to take out your money every year.
Frequently Asked Questions
Got questions? We've got answers. And, if you don't find what you're looking for, sign in to Online Banking and visit our Actions and Tools menu to send us a Secure Message or call us at (800) 346-5312.
Is there a monthly fee for this account?
There is no monthly fee for CDs.
Can I take money out of a CD early?
There is an early withdrawal penalty when you take money out of your CD before its maturity date.The following early withdrawal penalties apply to Time Deposits and Certificates opened on or after June 18, 2014, and also apply during any renewal terms for any Time Deposit or Certificate that commence on or after June 18, 2014 (regardless when the Time Deposit or Certificate was originally opened):
i. Maturity Period is not more than one year
- If the Maturity Period for the Time Deposit is less than 365 days, you shall forfeit and pay a penalty in a sum equal to $25 plus 1% of the amount withdrawn.
ii. Maturity Period is equal to or greater than one year
- If the Maturity Period for the Time Deposit is 365 days or more, you shall forfeit and pay a penalty in a sum equal to $25 plus 3% of the amount withdrawn.
iii. The amount of your penalty may be deducted from principal.
For more information on early withdrawal penalties, please download our Agreements and Disclosures
How much interest will I earn on this account?
We offer very competitive interest rates. View our deposit rates for more information.
How can I open an account?
To open your CD, call our ExpressBank at (800) 346-5312 or stop by one of our banking centers today.
Ready to Get Started?
Talk with a specialist: (877) 589-1112, M-F: 8 a.m. - 6:30 p.m. (CT), Sat: 8 a.m. - 4:30 p.m. (CT)Schedule an Appointment
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