Competitive CD and Reward Checking Rates at Northstar Bank of Texas - Local Only

Update 8/19/2011: The 33-month CD is no longer listed at the bank's website.

Northstar Bank of Texas often has some good CD deals. The latest one is a 33-month CD with a 2.08% APY. Minimum deposit is $1,000. This rate is listed in the bank's rates page as of 8/18/2011.

As a comparison to internet banks on 8/18/2011, the best 3-year CD rate is 1.90% APY at Airbanking. The best 3-year CD rate at a credit union with easy membership is 2.08% APY at University FCU.

Reward Checking Account

Northstar Bank of Texas continues to offer an attractive high-yield reward checking account called Velocity Checking that pays 3.01% on balances up to $30K as of 8/16/2011. I first reported on this account in March 2009 when the yield was 4.51% for balances up to $50K. For more details please see my Velocity reward checking review. Some changes are in the works with this account. Details were mentioned in this forum thread.

A branch visit is required to open an account. Northstar Bank of Texas branches are located in the northern parts of the Dallas/Fort Worth metro area in the cities of Denton, Argyle, Colleyville, Corinth, Grapevine, Krum, Lake Dallas, Lewisville and Pilot Point.

The bank has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 22.42% (average) based on March 2011 data. Please refer to our financial overview of Northstar Bank of Texas for more details. The bank has been a FDIC member since 1973 (FDIC Certificate # 20935).

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