June 29, 2024

State Bank of Texas CD Rates

Read more about State Bank of Texas
Editorial Note: This content is not provided by the companies mentioned. Opinions expressed here are author's alone, and have not been reviewed, approved or otherwise endorsed by the companies.
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. This compensation may impact how and where products appear on this site. You help support CreditDonkey by using our links. (read more)

State Bank of Texas has a 12-month CD special popular for its impressive rates. See its current rate today.

State Bank of Texas (SBT) is a family-owned bank headquartered in Dallas, Texas. It was founded in 1987, initially to provide banking services to the local entrepreneurial immigrant community.

Its legacy continues. And, it offers one of the highest rates on a jumbo CD in the market.

Continue reading to learn more about SBT's 12-month CD special rate.

What Are the CD Rates at the State Bank of Texas?

State Bank of Texas currently provides a single CD option: a 12-month CD with a competitive 4.45% APY.[1]

While it offers one of the highest 1-year CD rates a minimum deposit of $50,000 is required. But, it is lower than the usual $100,000 requirement for most jumbo CDs.

It also has an early withdrawal penalty like any standard CD. So make sure you're okay with locking in your money for the entire 12 months.

State Bank of Texas CD Features Overview
CDs AvailableJumbo
Minimum Deposit$50,000
Terms12 months/1 year
Interest PaymentsNot compounded, accrues monthly
Early Withdrawal Penalty60 days' interest
Grace Period10 days
InsuredFDIC-insured

How important is the interest rate compared to other factors when choosing a CD?

How Much Does a State Bank of Texas CD Earn?

State Bank of Texas' 12-month CD offer can earn $2,700 with its 4.45% APY and $50,000 minimum deposit.

Use this handy calculator to see how much you can earn with SBT's Personal Certificates of Deposit.

How Much Interest Will You Earn?

State Bank of Texas CD Fees & Penalties

Withdrawing your CD early will cost you. The State Bank of Texas' CD has an early withdrawal penalty of 60 days' worth of interest

If you want to make the most of your CD, try not to withdraw before its maturity date.

You can also opt for your SBT CD to be renewed automatically. Plus, you get a 10-day grace period to withdraw your money to avoid incurring early withdrawal penalties.

Can I withdraw money from State Bank of Texas CD?
Like most CDs, you usually cannot withdraw money from your State Bank of Texas CD before it matures. But, you can withdraw interest earned without facing penalties.

State Bank of Texas CD Pros and Cons

Pros

  • Competitive rate
  • No monthly service fees
  • FDIC-insured

Cons

  • $50,000 minimum deposit to open
  • Limited to one CD term only
  • Early withdrawal penalties
  • Small branch network

What's your primary reason for considering a 12-month CD at the State Bank of Texas?

How State Bank of Texas CD Rates Compare

Should I open a CD at State Bank of Texas?
This really depends on what your financial goals and needs are. If you can afford to keep at least $50,000 locked in a 12-month CD, State Bank of Texas may give you a good rate for your time. Otherwise, you would want to look at other options.

How to Open a CD at State Bank of Texas

You can open a State Bank of Texas CD through their website:

  1. On their website, click Open Account.
  2. Enter your email and complete the application form.
  3. Select Personal Certificate of Deposit and fund your account.

Who can open a State Bank of Texas CD?
You must be a US person who is at least 18 years old to open a CD with the State Bank of Texas.

How to Withdraw Upon Maturity

Typically a bank will send you a notice at least a month before your CD matures. But it's always best to remember when your CD will mature (it should be on your account disclosure form).

And before the CD term ends, decide what you want to do with your CD. Here are your options:

  • Close the CD and withdraw all funds
  • Add deposit to the CD or withdraw a part of the CD
  • Automatic renewal

You have a grace period of 10 calendar days after your State Bank of Texas CD matures. Make sure you contact the bank before it ends. Otherwise, it will be subject to early withdrawal penalties after the grace period.

How do I contact State Bank of Texas?
You can reach State Bank of Texas at 972-252-6000 from Mondays to Fridays 9:00 a.m. to 5:00 p.m. You can also call or visit any of their 8 branches or send an email to info@statebnk.com.

Other State Bank of Texas Accounts

A CD might not be the best option for you. State Bank of Texas has other bank accounts that might suit your needs.

  • State Bank of Texas Personal Money Market Account
    SBT's Personal Money Market account provides both flexible access to your money and a high APY. But, unlike CDs, the rate is not fixed which means it could change over time.

    To earn the top rate, you need to maintain a minimum of $100,000 in your account. There is also a $20 monthly fee which you can avoid with an average daily balance of $25,000.[2]

  • State Bank of Texas Personal Checking
    This checking account from SBT allows unlimited deposits and withdrawals. You'll need $100 to open it, and there's a $10 monthly fee, that you can waive by keeping an average daily balance of $800.

    It also comes with a complimentary ATM card with access to fee-free SBT-owned ATMs and SBT will not charge you for using foreign ATMs.[3]

    Is my money safe in a State Bank of Texas CD?
    State Bank of Texas is an FDIC member bank (Cert #27074). So your CDs are federally insured up to $250,000 in case the bank closes down.

    Bottom Line

    State Bank of Texas CDs can be a great choice if you're after high rates. However, you can only get a 12-month CD term. Plus, you need $50,000 to open an account.

    Some online banks or credit unions might be able to give you more term options with a little to no minimum required. Take your time browsing CD rates before you commit to one.

    How likely are you to recommend the State Bank of Texas's 12-month CD to someone else?

    References

    1. ^ State Bank of Texas. Personal Certificates of Deposit, Retrieved 03/14/2024
    2. ^ State Bank of Texas. Personal Money Market Account, Retrieved 03/14/2024
    3. ^ State Bank of Texas. Personal Checking, Retrieved 03/14/2024
Bank of America
Member FDIC

Bank of America Advantage Banking - $300 Bonus Offer

Expires 1/31/2025
  • The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
  • The offer is for new checking customers only.
  • Offer expires 01/31/2025.
  • To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
  • Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
  • Additional terms and conditions apply. See offer page for more details.
  • *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
  • Bank of America, N.A. Member FDIC.
Chase
Member FDIC

Chase Total Checking® - $300 Bonus

Expires 1/22/2025
  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Discover Bank
Member FDIC

Discover® Online Savings - $200 Cash Bonus

Expires 3/13/2025

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.

CIT Bank
Member FDIC

CIT Bank Platinum Savings - 4.70% APY

  • 4.70% APY with a balance of $5,000 or more
  • 0.25% APY with a balance of less than $5,000
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC
Bluevine

Free Business Checking - Earn $300 Bonus

Expires 12/31/2024

To earn the $300 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 12/31/2024 using the referral code CD300.

After opening the account, customers must add funds within 30 days, then meet at least one of the following eligibility requirements every 30 days for the next 90 days from account funding:

  • Deposit at least $5,000 from eligible merchant services to your Bluevine account OR
  • Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers OR
  • Spend at least $2,000 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®

Banking services provided by Coastal Community Bank, Member FDIC

Write to Rue Atanacio at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

Compare:

Save money and build wealth. Sign up to get our FREE email newsletter.
Best Banks for Small Business in Michigan

Best Banks for Small Business in Michigan

Running a small business in Michigan? From freelancers to growing companies, discover the top 10 banks for Michigan entrepreneurs below.
More Articles in Bank Reviews & Deals

Next Page:

About CreditDonkey
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
(888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
© 2024 CreditDonkey Inc. All Rights Reserved.