Competitive CD Rates South of Dallas at Citizens State Bank

POSTED ON WEDNESDAY, JANUARY 4, 2012 BY Ken Tumin

APY	MIN	MAX	INSTITUTION	PRODUCT
4.15%	$1k	-	Citizens State Bank (12501)	6 Month CD
3.75%	$1k	$100k	Citizens State Bank (12501)	12 Month CD
3.25%	$1k	-	Citizens State Bank (12501)	18 Month CD
2.75%	$1k	-	Citizens State Bank (12501)	24 Month CD
2.50%	$1k	-	Citizens State Bank (12501)	36 Month CD
2.50%	$1k	-	Citizens State Bank (12501)	48 Month CD
2.25%	$1k	-	Citizens State Bank (12501)	3 Month CD

Rates as of December 9, 2024.

I first noticed Citizens State Bank and its high CD rates last week, but I was concerned the rates posted may be out-of-date. I learned from the bank that the rates were correct, but they would be falling in January. New lower rates were posted yesterday, and I'm glad to see that the CD rates continue to be very competitive. Below are the CD rates listed at the bank's CD rates page as of 1/4/2012:

2.11% APY 4-year CD
1.66% APY 3-year CD
1.45% APY 2-year CD
1.35% APY 18-month CD
1.17% APY 1-year CD
1.02% APY 6-month CD
0.82% APY 3-month CD

Minimum deposit is $1,000. According to the bank representative who replied to my email, they require a branch visit to open your first account. Future account openings can be done by mail.

Citizens State Bank branches are located just south of Dallas/Fort Worth in the Texas towns of Hubbard, Buffalo, Itasca, Whitney and Centerville. I was told by the bank rep that they do accept deposits from the Dallas area.

The bank has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 2.67% (excellent) based on September 2011 data. Please refer to our financial overview of Citizens State Bank for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 12501).

How These CD Rates Compare

The bank's long-term CD rates are very competitive, but you can get rates that are a little higher at two all-access credit unions. Melrose Credit Union offers a 2.17% APY 4-year CD and a 1.91% APY 3-year CD. Alliant Credit Union offers a 1.50% APY 2-year CD and a 1.35% APY 18-month CD (minimum $25K).

The bank's short-term CD rates are better deals than what internet banks offer. The best 1-year internet CD rate is 1.15% APY at CIT Bank, and the best 6-month CD rate is 0.85% APY at Virtual Bank. The best nationally available short-term CD deal is currently at KeySource Commercial Bank which allows people from any state to open its CDs via its online application. It offers a special 1.15% APY 7-month CD and a 1.20% APY 1-year CD.

These rates are accurate as of 1/4/2012.

Searching for the Best CD Rates

To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.