CD Bank Boosts Nationally Available 12-Month CD Rate,1.75% APY

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Deal Summary: 12-months CD, 1.75% APY, $10k minimum deposit.

Availability: Nationwide (internet bank)

About six months ago, Dallas-based TBK Bank launched CD Bank, its new internet division that only offers CDs. CD Bank is currently promoting two CDs: 12-months (1.75% APY) and 24-months (1.85% APY). Of the two, the 12-months CD is clearly the more competitive. CD Bank’s 18-months CD (1.80% APY) isn’t part of this promotion, even though its APY is quite competitive. The minimum deposit for a CD Bank CD is $10k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.80%$10k-CD Bank18 Month CD
1.75%$10k-CD Bank12 Month CD
Accounts mentioned in this post. Rates as of November 20, 2017.

Since both the 12-and 18-months CDs were introduced in May, each have had two rate increases, adding a total of 30 bps per CD. While the Bank’s shorter-term CDs have competitive APYs, its longer-term CDs are not faring as well: the yield curve is rather compressed, with only 35 bps separating the 12-months and 60-months CDs.

As stated in the Truth in Savings document, the Early Withdrawal Penalty reads (in part) as follows:

The withdrawal penalty on certificates with a maturity of one (1) year but less than two (2) years will be an amount equal to twelve (12) months interest on the amount withdrawn subject to penalty.

My May blog post about CD Bank included a great deal of information about the CDs and CD Bank’s practices and requirements that are not covered in the FAQ section.

Availability

Headquartered in Dallas, CD Bank (an internet division of TBK Bank, SSB) offers its services and product line to all U.S. Citizens and Resident Aliens, 18 years or older.

The “Open Your Account” button (located on all of the pages of CD Bank’s website) leads to the online application. Funding a new CD can be done through electronic transfer from another bank account, by wire transfer, or by check.

Bank Overview

CD Bank is a division of TBK Bank, SSB and operates under TBK Bank’s FDIC Certificate (#23498) and shares its financial history.

CD Bank/TBK Bank has an overall health grade of "A" at DepositAccounts.com, with Texas Ratio of 9.90% (excellent) based on June 30, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $772.86 million, an excellent annual growth rate of 62.1%. Please refer to our financial overview of CD Bank/TBK Bank for more details.

Established in 1981 as Franklin National Bank, the Bank rebranded in 2004 (Equity Bank, SSB) and 2010 (Triumph Savings Bank, SSB) before becoming TBK Bank, SSB in 2015. Following the 2016 acquisition of Colorado East Bank & Trust, TBK Bank has become the 20th largest bank headquartered in Texas, with assets in excess of $2.08 billion and more than $2.01 billion in deposits.

How the CDs Compare

When compared to the 214 similar length-of-term CDs tracked by DepositAccounts.com, which require a minimum deposit of $10k or less and are available nationally, CD Bank’s 12-months CD APY currently shares the top spot with INOVA Federal Credit Union’s 14-month CD and Banesco USA’s 12-month CD.

Interest RateCD Length of TermCredit Union/Bank
1.75% APY12-Months CD ($10k min)CD Bank
1.71% APY12-Month CD ($1k min)Limelight Bank
1.70% APY1-Year CD ($1k min)ableBanking

When compared to the 152 similar length-of-term CDs tracked by DepositAccounts.com, which require a minimum deposit of $10k or less and are available nationally, CD Bank’s 18-months CD APY currently ranks second.

Interest RateCD Length of TermCredit Union/Bank
1.81% APY15-Month Special CD ($1k min)Veridian Credit Union
1.80% APY18-Months CD ($10k min)CD Bank
1.78% APY20-Month CD ($1k min)EBSB Direct

The above rates are accurate as of 11/3/2017.

To find the most competitive CD rates, both nationwide and state specific, please refer to our CD rates table or our new Rates Map page.

Related Pages: Chicago CD rates, Dallas CD rates, Peoria CD rates, Wichita CD rates, Davenport CD rates, Denver CD rates, Colorado Springs CD rates, 1-year CD rates, nationwide deals, Internet banks

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CD Bank Ups Nationally Available Short-Term CD Rates
Deal Summary: 9-month CD (1.40% APY), 12-month CD (1.65% APY), 18-month CD (1.75% APY), $10k minimum deposit

Availability: Nationwide (internet bank)

In May, Dallas-based TBK Bank launched CD Bank, its new internet division. As you might guess, CD Bank only offers CDs. Over the weekend, CD Bank raised the rates on most of its product line, with the most competitive CDs being the 9-month (1.40% APY), 12-month (1.65% APY), and 18-month (1.75% APY). The minimum deposit is $10k, with no stated balance cap.

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New Internet Bank (CD Bank) Offers Competitive CD Rates

Deal Summary: Several competitive CDs including the 12-month CD (1.45% APY), 18-month CD (1.50% APY) and 24-month CD (1.65% APY).

Availability: Nationwide

Dallas-based TBK Bank has launched a new internet bank called CD Bank. As the name suggests, CD Bank only offers CDs. The terms range from 3 to 60 months. CD Bank’s short-term CDs are currently the most competitive. These include a 9-month CD (1.20% APY), a 12-month CD (1.45% APY), an 18-month CD (1.50% APY) and a 24-month CD (1.65% APY). Minimum deposit is $10,000. The table below shows...

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