Dedicated to Deposits: Deals, Data, and Discussion

Top 5-Year CD Rate at Inter National Bank in Texas - Local Only


Inter National Bank

Update 10/21/2010: The 5-year CD rate has fallen to 2.75% APY effective 10/18.

Inter National Bank is offering a very competitive 3.25% APY 5-year CD. Minimum deposit is $1,000. The other CD rates are not quite as competitive: 2.50% APY 4-year CD and 2.25% APY 3-year CD. These rates are not listed at the bank's website. A reader emailed me news of this bank, and I called today for additional details. These rates are accurate as of 10/06/2010. Rates are subject to change at any time.

According to the bank rep, these CDs have two very nice features. First, they allow unlimited add-on deposits during the term. Minimum add-on deposit must be $250. Second, the early withdrawal penalty is only 90 days of interest for terms over 1 year.

A branch visit is required to open an account. Branches are located in the Texas cities of Brownsville, Laredo, El Paso, McAllen and Weslaco.

The bank's overall health score is 3 out of 5 with a Texas Ratio of 46.82% (average) based on 6/30/2010 data. Please refer to our financial overview of Inter National Bank for more details. The bank has been a FDIC member since 1985 (FDIC Certificate # 25879).

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Comment #1 by Anonymous posted on
5-year CD dropped half point, to 2.75%, on October 18th.  I had funds from a maturing National City (now PNC) CD become available overnight and had planned to use this 5-year as a partial replacement.  When arrived at the local branch first thing this morning, however, was informed 2.75% was best rate for the 5-year.  Told them I was not interested and left.  Later I called McAllen's (different location) number and CR confirmed their rates dropped the 18th. 

Comment #2 by KenBDG posted on
Thanks for the info. Sorry to see the rate cut. But this is still a very good deal since it allows unlimited add-on deposits. It might still be worth it to fund it with the minimum deposit. If this ultra-low interest rate environment continues, you can always fall back on this CD.

Comment #3 by Anonymous posted on
Wow, I guess I was lucky. I opened a CD there the end of the previous week, just before the rate cut. Phew. Though it is still a good deal, a couple things to note: (a) unlimited deposits can be made, but they must be at least $250. (b) if you live out of the area, you cannot use ACH to transfer funds to your CD. However if you open up a savings account (min $200 or $250, I forget, to avoid fees) then you can use ACH to transfer from another bank to your savings account, and then transfer between your savings and CD -- but note that the savings account only lets you do two withdrawls or transfers like this per month before fees kick in. Finally (c) you CANNOT withdraw even the interest out early -- doing so will be seen as an early withdrawl. So if you think you might need to do so later, you might consider opening up two separate CDs (split the amount of your CDs) in case you need a little money later, the penalty won't be as bad. However note that the 90-day interest penalty for early withdrawl is better than most banks (which have from 6 months to 1 year penalty).