4.85% 1-Year CD at a Texas Bank

The State Bank of Texas is offering a 4.85% APY 1-year CD. This ad in today's Dallas Morning News claims there is a $10K minimum deposit requirement. However, this rate is also listed at the bank's website and it shows only a $1K minimum. There's also a 5% APY 5-year CD being offered with the same minimum.

The State Bank of Texas is a community bank with 4 branches in the Dallas Forth Worth area.

The best 1-year CD currently listed at Bankrate.com is 4.94% APY from Corus Bank. Virtual Bank is second with a rate of 4.90% APY. Both have a $10K minimum deposit requirement.