BTH Bank (TX) Boosts Worry-Free Money Market To 1.64% APY ($500k+)

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Deal Summary: Worry-Free Money Market, 1.64% APY ($500k+), 1.44% APY ($100k+)

Availability: Market area is Texas.

Ten months ago, I wrote about BTH Bank’s Worry-Free Money Market account, which at the time was earning 1.29% APY ($500k+) and 1.09% APY ($100k). Ten days ago, BTH Bank raised the rates on the Worry-Free Money Market for the seventh time in eight months, resulting in APYs of 1.64% ($500k+) and 1.44% ($100k+). Balances below $100k earn an unimpressive 0.25% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.64*%$500k-BTH BankWorry-Free Money Market Account
OTHER TIERS: 0.25% Up to $100k | 1.44% $100k - $500k
Accounts mentioned in this post. Rates as of April 24, 2017.

The Worry-Free Money Market account requires a minimum of $10k to open. The $12 monthly service charge can be waived by maintain a minimum $10k balance. There is also a $2 fee per withdrawal or transfer, beyond the six free transactions per month.

The current tiered APYs on the Worry-Free Money Market are as follows:

  • 0.25% APY - <$100k
  • 1.44% APY - $100k+
  • 1.64% APY - $500k+
  • 1.64% APY - $1m+, subject to negotiation

According to the fine print on the Money Market Account page,

Rates on balances $100,000 and up may change, and are indexed to a one-year U.S. Treasury rate.

Rates on balance below $100,000 may change at our discretion.

Availability

Headquartered in Quitman, Texas, BTH Bank’s market area includes all of Texas. The Bank offers its services and product line to all Texas residents who are U.S. citizens, 18 years or older.

Minors, resident aliens and non-resident aliens may apply by contacting BTH Bank directly.

Opening a Worry-Free Money Market account can be done online, or at any of 13 Texas branches located in Carthage, Dallas, Hawkins, Henderson, Kilgore, Lindale, Longview (2), Mineola, Plano, Quitman, Tyler, and Winnsboro.

Bank Overview

BTH Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 0.45% (excellent) based on December 31, 2016 data. In the past year, BTH Bank has increased its total non-brokered deposits by $226.19 million, an excellent annual growth rate of 37.01% APY. Please refer to our financial overview of BTH Bank (FDIC Certificate #3402) for more details.

BTH Bank is one of the few community banks in East Texas today, and has a history that stretches back more than 110 years. In 1905, W. M. Lloyd established a small, private bank in Quitman, which subsequently received a state charter in 1908, resulting in the First State Bank. A national charter was granted in 1914 and the First National Bank of Quitman took the stage. Almost 100 years later, the Bank had become BankTexas and,

In 2006, seven members of the bank's board of directors raised approximately $13 million from local investors to form BT Holdings, which purchased BankTexas from its then non-local owners. The transaction allowed BTH Bank to once again become a locally-owned financial institution.

How the Worry-Free Money Market Account Compares

When compared to the 459 Money Market Accounts tracked by DepositAccounts.com that are available to Texas residents, BTH Bank's Worry-Free Money Market APY ranks first and second, regardless of minimum deposit.

Interest RateAccount NameCredit Union/Bank
1.64% APYWorry-Free Money Market ($500k min/$1m max)BTH Bank
1.44% APYWorry-Free Money Market ($100k min/$499,999 max)BTH Bank
1.34% APYMoney Market ($500k min/no max)Self-Help Federal Credit Union
1.25% APYAscent Account ($75k min/$500k max)McGraw Hill Federal Credit Union

The above rates are accurate as of 4/11/2017.

To look for the best MMA rates, nationwide and state specific, please refer to our Money Market Accounts rates table or our Rates Map page.

Comments
deplorable 1
deplorable 1   |     |   Comment #1
Is this available nationally? If you have $100,000 deposited do you earn 1.44% APY on it or is that only for balances between $100,000 and $500,000? This looks interesting I'm going to have to call them.
ashok
ashok   |     |   Comment #2
did you find out if they allow national availability ?
deplorable 1
deplorable 1   |     |   Comment #3
Nope Texas residents only according to website............no dice.
BTH Bank (TX) Raises Worry-Free Money Market Rate
Availability: Market area is Texas.

At the end of last week, BTH Bank raised the rate on its Worry-Free Money Market account (1.29% APY on balances of $500k+; 1.09% APY on balances of $100k). In the past year, the Worry-Free Money Market account has had 13 rate changes, ranging from a low of 0.86% APY in June 2015 to the current high of 1.29% APY.

The minimum opening deposit is $10k and the $12 monthly service charge can be waived by maintain a minimum $10k balance.

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BTH Bank (Texas) Raises Worry-Free Money Market Rate
Availability: Market area is Texas

Last week, BTH Bank raised the rate on its Worry-Free Money Market account (1.11% APY on balances of $500K+). In the past two years, there have been 12 rate changes for the Worry-Free Money Market account, ranging from a low of 0.75% APY in November 2013 to the current high APY of 1.11%.

The minimum opening deposit is $10K and the $12 monthly service charge can be waived by maintain a minimum $10K balance.

The tiered APYs on the Worry-Free Money Market...

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High-Yield Reward Checking Account at BankTexas

Update 10/8/2010: Prosperity Checking has changed to MyCash Checking, and the balance cap has fallen from $25K to $10K.

BankTexas is offering a high-yield reward checking account called MyCash Checking. The account has the following rates and features if certain monthly requirements are met:

  • 3.25% APY on balances up to $10,000
  • 0.14% APY on portion of balance over $10,000
  • 0.11% base rate if monthly requirements are not met
  • Refunds ATM fees nationwide up to $25 per cycle and up to $5 per use

The monthly requirements include:

  • 10 debit card purchases
  • 1 automatic payment or direct deposit
  • Receive e-statements
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