2.64% 6-Month CD & Other Competitive Rates at American First National Bank in Texas


American First National Bank has a CD promotion with a 2.64% APY for terms of 6, 9 and 12 months. Minimum deposit is $1,500. There's also a Jumbo CD rate of 2.75% APY for the same terms. Minimum deposit is $100,000. An even better deal is available for their IRA CD which has a 3.50% APY for terms of 12 and 18 months. These rates are listed at the promotions page as of 5/12/09.

There's also a good savings account deal listed in their savings account page. It's the VIP Savings Account and it has a 3.25% APY as of 5/12/09. Minimum opening balance is $10,000. On the down side, only 6 withdrawals per quarter are allowed. There are no limit for deposits. There's a rate guarantee period, but unfortunately, it appears I found this too late. The guarantee period ended on 4/30/09. Now the rate is subject to change.

Since this is an Asian-American bank, I thought they may offer an installment savings account. And sure enough, they do. At the bottom of their savings account page, they describe the Installment CD for terms of 1, 2 and 3 years. They don't list the rates. If you find out the rates, please leave a comment.

It appears a branch visit is required to open accounts. Branches are located in Houston, Dallas and their suburbs.

The bank has decent ratings for safety and soundness: 3.5 stars (good) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 12/31/08 financial data. The bank has been FDIC insured since 1998 (FDIC Certificate # 34656).

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.
Related Pages: money market accounts, CD rates, IRA rates, American First National Bank, Houston, Dallas, Los Angeles, Las Vegas


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