Independent Bank (TX/CO) Offers 13-Month Promo CD


Deal Summary: 13-month Promotional CD, 2.73% APY, $1k minimum deposit

Availability: Market area includes the Dallas/Ft. Worth, Austin, and Houston metro areas, and the Colorado Front Range Urban Corridor.

Texas-based Independent Bank ended the week by raising the rate on its 13-month Promotional CD (2.73% APY). The minimum opening deposit is $1k, with no stated balance cap.

The 13-month Promotional CD was introduced only four months ago, with an initial APY of 1.51%. A total of 122 bps have been added in two rate increases in the past two months.

As stated in the Account Disclosure and Terms & Conditions document, the Early Withdrawal Penalty reads as follows:

The early withdrawal penalty on CD maturities 1 year and
greater is 6 months of interest on the amount withdrawn.


Headquartered in McKinney, Texas, Independent Bank’s market area includes the Dallas/Ft. Worth, Austin, and Houston metro areas, and the Colorado Front Range Urban Corridor, along the eastern face of the Rocky Mountains.

Opening a CD at Independent Bank can be done at any of the 67 Texas branches located in or near Austin (7), Dallas/Ft.Worth (44), Houston (14), and Waco (2). There are also 18 Colorado branches, mostly situated between Loveland and Colorado Springs.

Independent Bank’s online banking platform is currently dedicated to account management and bill payment services.

Bank Overview

Independent Bank, has an overall health grade of "A+" at, with a Texas Ratio of 1.47% (excellent), based on March 31, 2018 data. In the past year, the Bank has increased its total deposits by $2.16 billion, an excellent annual growth rate of 51.35%. Please refer to our financial overview of Independent Bank (FDIC Certificate # 3076) for more details.

While Independent Bank has roots that go back to 1913 when it was known as The First National Bank of Anna, the Bank’s real growth began 2000 when it re-branded, moved its headquarters to McKinney, and acquired two Texas banks. Thirteen more acquisitions happened over the next 18 years, including the acquisitions of Integrity Bank (Houston) and Northstar Bank (Denton) in the past 14 months. Independent Bank is currently the eighth largest bank in Texas, with assets in excess of $8.8 billion and more than 121,500 customer accounts.

How the Promotional CD Compares

When compared to the similar length-of-term CDs tracked by that require a similar deposit and are available within the market area, Independent Bank’s 13-month Promotional CD APY currently ranks first.

The above rates are accurate as of 6/16/2018.

Searching for the best CD rates, either nationally available or state-specific, please refer to our CD Rates Table page.

Related Pages: Houston CD rates, Dallas CD rates, Waco CD rates, Austin CD rates, Sherman CD rates, Denver CD rates, Colorado Springs CD rates, 1-year CD rates

  |     |   Comment #1
nice rate... if only I lived in texas :)
  |     |   Comment #8
Can anyone shed light on why you can open a CD online with an outfit like 'State Bank of Texas' but here, Independent Bk requires you to visit a branch office? Over the phone, Independent claimed if they opened up the account thru the mail, it'd be in violation of the Patriot Act; while State Bank of Texas mailed me all documents plus a return envelope.
  |     |   Comment #10
I think they just like to use that as an excuse. Plus, the more online oriented banks probably get around it by subscribing to services that ask us questions to verify our identity and via chexsystems.

I did have to drive a half hour and back to join a local credit union for a 3% RCA. With rates rising, that account may be obsolete soon. I think its 3%, it may be a tad more. Its NOT as high as Heritage Bank and I am considering opening another at HB.

I have one at LMCU, One at the local CU and one at HB. A 4th one makes it harder. Because that would be, I think 44 transactions and the way I do mine, at gas pumps, that will reasonably take 4+ trips.

Because I have a dizzy issue going on, I cannot do 20+ at a time like I used to sometimes be able to.
I'm not sure if its vertigo or what. Need to go to the Dr. Trying to put it off until Jan.

I could do a bunch of $1 bill payments from a merchant site like one poster used to do. Problem with that is I prepaid several of the accounts already. (When I had a 3% and 5% back deals)
But, as I get older, that's probably where I am headed.
  |     |   Comment #4
I ma waiting for the rate to go up 4% for jumbo so I can sale my house in invest in CD
  |     |   Comment #5
Won't stop there... gonna cash out ALL my retirement savings that's in the stock market ON TOP of the home sale.
  |     |   Comment #6
Thank you for the information!
  |     |   Comment #7
Opened the 13-month Promo CD at my local Independent Bank branch today. Very friendly and helpful. Thanks Ken and thanks Independent Bank!
Thank you Ken and Independent Bank
  |     |   Comment #9
Opened mine yesterday afternoon. The associates at my branch were friendly, helpful and professional so everything process went very smoothly. In and out in 15 minutes, just long enough to enjoy a cup of delicious coffee while the CD was being opened. I've done business with Independent Bank for years, and have always been pleased.
  |     |   Comment #11
Just opened a CD today. Very nice people.
  |     |   Comment #12
It appears the 13-month promotional CD offered in June is now 2.27%, not the 2.73% APY listed here, unless I am missing it somewhere on the bank website.
  |     |   Comment #13
I get 2.27% too. But with Andrews at 2.75 for a 9 month, I would think that would be a better deal. Given the likelihood of continued rate increases.

I have not opened one yet but I am strongly pondering it. As much as I'd rather avoid yet another new account. (I fear possibly losing out on another deal later on if I have too many recent new accounts. That happened to me once many years ago)

I have two 2.25% 5 year at Ally that need to be closed, a penfed CD maturing at the end of the month, and more CDs maturing at the end of the year and late Jan to late Feb. I have been avoiding longer term ones.

One negative of the Andrews is its an all or none, limit one deal I think.
High-Interest Reward Checking Account at a Texas Bank (Independent)

Update 1/7/2013: The top yield has fallen to 2.00% APY and the balance cap has fallen to $15K. Refer to the bottom of the post for the rate history.

Independent Bank is offering a reward checking account that pays 2.00% APY on balances up to $15,000 (0.15% for above) and refunds ATM fees if the following monthly requirements are met:

  • 12 debit card purchases
  • one direct deposit or ACH debit
  • Receive e-statements

The minimum opening deposit is $100. There are no minimum balance requirements or monthly fees. Information about this checking account is listed in...

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