Texas Security Bank has two good deposit deals. The first is a CD special with a 2.00% APY for a term of 2 years. Minimum deposit is $1,000. The second one is a money market special with a 1.25% APY guaranteed for up to 180 days. The 180-day guarantee requires opening an individual or business checking account in the first 90 days. Without the checking, the guaranteed period is 90 days. Minimum balance is $2,500. These specials are listed in the bank's specials page as of 3/21/2011.
More details about the money market account are listed in the bank's account comparison page. The money market account requires a daily collected balance of $2,500 to avoid a $15/month fee. The account offers limited check writing with free checks. ATMs are free at Allpoint and Intercept network ATMs. One downside is that the money market standard rates are low. Currently, the rate for balances from $25K to under $100K is only 0.55%.
These deals appear to be limited to those in the Dallas metro area. It's a small one-office bank located in Dallas at 1212 Turtle Creek Boulevard.
Texas Security Bank has an overall health score at DepositAccounts.com of 5 stars (out of 5) based on December 2010 data. Please refer to our financial overview at Texas Security Bank for more details. The bank has been a FDIC member since 2008 (FDIC Certificate # 58739).
How Good of a Deal?
For nationally available CDs, the best 2-year CD rate is currently 1.77% APY at Self-Help Credit Union. For a bank, the best 2-year CD rate is 1.65% APY at CNB Bank Direct, but this requires a $25K minimum deposit.
The best liquid account deal is currently at Morrill and Janes Bank which is offering a 1.51% APY checking account. However, there is no guarantee how long this will last. The best nationally available deal for a rate guarantee is at EverBank which is guaranteeing 1.51% APY for 3 months on its checking and money market accounts.