NexBank Raises Rates on 12-, 18- and 24-Month CDs

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Availability: Nationwide

NexBank (Texas) ended the week by raising the rates on three of its CDs:

  • 12-month CD (1.10% APY)
  • 18-month CD (1.25% APY)
  • 24-month CD (1.35% APY)

    • The new rates represent the first increase for these CDs in almost eight months. The minimum deposit for any of these CDs is $10K, with no balance cap.

    According to CSR, the Early Withdrawal Penalty is the same for all three CDs: 60 days interest.

    APYMINMAXINSTITUTIONPRODUCTDETAILS
    2.05%$10k-NexBank12 Month CD
    2.05%$10k-NexBank18 Month CD
    2.05%$10k-NexBank24 Month CD
    Rates as of April 19, 2018.

    Availability

    Headquartered in Dallas, NexBank offers its services and product line to all U.S. citizens and permanent U.S. residents with a current U.S. address.

    Opening and funding accounts can be done directly online, or if you prefer a brick-and-mortar experience, at either of the two Dallas branches.

    Bank Overview

    NexBank (FDIC Certificate # 29209) has an overall health rating of "A" at DepositAccounts.com, with a Texas Ratio of 1.94% (excellent), as of December 31, 2014. In the past year, NexBank increased its total deposits by $423.61 Million, excellent annual growth rate of 42.05% growth rate. Please refer to our financial overview of NexBank for more details.

    Originally established in 1934 as the Terrell Federal Savings and Loan Association, NexBank today is the 30th largest bank in Texas. In a February 2015 press release, Matt Siekielski, Chief Operating Officer of NexBank Capital, Inc., stated:

    NexBank has delivered record results for a third consecutive year, reflecting the growth of our core businesses and increasing capital position.

    In calendar year 2014, NexBank total assets increased by 42% to $1.81 Billion, total deposits grew to $1.43 Billion, and loan portfolio investments expanded to $1.38 Billion.

    How the CDs Compare

    When compared to other similar length of term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available nationally, NexBank’s 24-month CD is the most competitive of the three CDs.

    The above rates are accurate as of 3/6/2015.

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

    Related Pages: NexBank, Dallas

    Comments
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    4 Comments.
    Sylvia
    Sylvia   |     |   Comment #1
    From my experience, it's a lot easier to deposit than withdraw money from this bank, if you can't get to one of their branches.  Last year, when I wanted CD closed at maturity, they demanded notarized letter.  Moreover, since I live out of state, there was no wire or ACH option, only check, contrary to what I was told when I opened CD that I funded through ACH.  The notarized letter was required even though check was going to my address on file.  It was a major inconvenience I've yet to experience anywhere else.
    Reply
    6
    Anonymous
    Anonymous   |     |   Comment #2
    Thumbs up, and thank you so much for taking the time to post about your very concerning experience.  What happened to you, including especially their lying, would be ample reason for me not to do business with this poor excuse for a bank.  Thanks again, Sylvia.  You have helped others to avoid real trouble.
    Reply
    4
    gregk
    gregk   |     |   Comment #3
    Apart from the tedious mechanics, why would anyone want to commit funds at these crummy rates anyway? 
    Reply
    1
    Top 2-Year CD Rate at NexBank
    Comments (3)
    POSTED ON MONDAY, AUGUST 27, 2012 BY KEN TUMIN

    NexBank is offering a very competitive 2-year CD that can be opened online. The 2-year CD has a 1.30% APY. There's also a 1-year CD with a 1.05% APY and an 18-month CD with a 1.15% APY. Minimum deposit is $10,000. These rates are listed in the bank's rates page as of 8/27/2012.

    There's an online application for the CDs, and according to the CSR, people in any state can apply. After applying online, new customers will need to mail in a copy of their ID. The CD can be funded...

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    Bump-Up & Add-On CD at NexBank in Dallas - Texas Only
    Comments
    POSTED ON MONDAY, OCTOBER 3, 2011 BY KEN TUMIN

    NexBank continues to offer its Triple Advantage CD that offers both bump-up and add-on features. The rate has fallen quite bit since my last post on this in 2010, but it remains competitive. The rate is now 1.30% APY for a 2-year term as of 10/03/2011. This rate is the same as the 2-year CD rate listed at the bank's rates page. I called the bank this morning to confirm that this rate is still available on the Triple Advantage CD. The rate is subject to change at anytime so...

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    Bump-Up & Add-On CD at NexBank in Dallas Texas - Local Only
    Comments
    POSTED ON SUNDAY, MAY 2, 2010 BY KEN TUMIN

    NexBank continues to offer its Triple Advantage CD that offers both bump-up and add-on features. The rate has fallen a bit since my March post, but it remains competitive. The rate is now 1.95% APY for a 2-year term as of 5/02/2010. Additional deposits of $10,000 or more are allowed anytime. There's also a bump feature that allows customers to bump-up the rate once per a 12-month period to the rate of NexBank's current 24-month CD offering. Minimum initial deposit is $10,000.

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    2.00% 24-Month Add-On CD at NexBank in Dallas - Local Only
    Comments (1)
    POSTED ON SUNDAY, MARCH 14, 2010 BY KEN TUMIN

    NexBank continues to offer its Triple Advantage CD. However, the rate has fallen 40 basis points since February. The rate is now 2.00% APY for a 2-year term as of 3/14/2010. Nevertheless, this is a competitive rate for an add-on CD. Additional deposits of $10,000 or more are allowed anytime. There's also a bump feature which is typically less useful. It allows customers to bump-up the rate once per a 12-month period to the rate of NexBank's current 24-month CD offering. Minimum initial deposit is $10,000.

    The 2.00% APY is not...

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    NexBank Increases the Rate of its 24-Month CD Special - Texas Only
    Comments
    POSTED ON WEDNESDAY, FEBRUARY 10, 2010 BY KEN TUMIN

    NexBank did something you don't see much of these days. They raised the rate of their 24-month add-on CD. It's now 2.40% APY. When I last reported on this CD in December, it was 2.25%. Minimum deposit is $10,000. The rate is listed at the bank's promotion page as of 2/10/2010. Additional deposits of $10,000 or more are allowed anytime. There's also a bump feature which is typically less useful. It allows customers to bump-up the rate once per a 12-month period to the rate of NexBank's current 24-month CD...

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