Dedicated to Deposits: Deals, Data, and Discussion

2.85% 24-Month Add-On CD at NexBank in Texas

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NexBank
NexBank is offering an attractive CD promotion. It's a 24-month CD with a yield of 2.85% APY. The minimum deposit is $10,000. The rate is listed at the bank's promotion page as of 5/05/09. It's not the best rate for a 2-year CD, but it has a nice add-on feature. Additional deposits of $10,000 or more are allowed anytime. There's also a bump feature which is typically less useful. It allows customers to bump-up the rate once per a 12-month period to the rate of NexBank's current 24-month CD offering.

When I contacted this bank last year about a similar promotion, I was told out-of-state customers can apply without a branch visit. Since these policies can often change, I recommend contacting the bank if you're interested.

Branches are located in Dallas and Plano, Texas.

NexBank has fair ratings for safety and soundness: 3.5 stars (good) at BauerFinancial and 3 stars (performing) at Bankrate.com. These ratings are based on 12/31/08 financial data. The bank has been FDIC insured since 1934 (FDIC Certificate # 29209).

Other High Certificate of Deposit Rates

For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.

  Tags: NexBank, CD rates

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