One World Bank (TX) Adds Rate-Leading 180-Day CD
According to the One World Bank (OWB) home page, “The leaves may be falling, but the wind has kicked up our rates.” For a limited time, OWB is offering 5.95% APY on the 180-day CD and 365-day CD. The minimum opening deposit is $1k, with no stated balance cap. The OWB Rates page lists both term lengths as Jumbo CDs ($100k minimum), but the APYs are the same 5.95%.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 5.60% | $1k | - | One World Bank | 180 Day CD | |
| 5.60% | $1k | - | One World Bank | 365 Day CD | |
| 5.60% | $100k | - | One World Bank | 180 Days Jumbo CD | |
| 5.60% | $100k | - | One World Bank | 365 Days Jumbo CD |
While the 365-day CD is available as an IRA CD (Traditional, Roth) earning 5.95% APY ($1k minimum), the 180-day CD is not.
Early Withdrawal Penalty
CSR stated that the Early Withdrawal Penalty (EWP) for the 365-CD is 3 months of interest and 2 months of interest for the 180-day CD. According to CSR, an OWB CD can only be closed early; partial withdrawals are not permitted. The EWP applies to the entire balance, so the principal could be reduced if a closure occurs within the first 2-3 months of account opening.
Availability and Account Opening
Headquartered in Dallas, Texas, One World Bank’s market area includes the greater Dallas-Fort Worth metropolitan area and the greater Houston metropolitan area.
Opening a CD (or any other type of account) with One World Bank must be done in-branch at any of three full-service Texas branches located in Aubrey (north of Dallas), Dallas (Asian Trade District), and Houston (Chinatown).
Funding and Other Details
The OWB website is light on documentation, with no Truth-in-Savings disclosure available. The following information is from a conversation with CSR.
- Funding – ACH, wire, check, or internal transfer.
- Ownership – Individual, joint, or trust.
- Interest – Compounded/credited monthly and can be transferred by ACH to another financial institution.
- Maturing Funds – Cashier’s check to address on file.
- Beneficiaries – Unlimited with equal shares, Social Security number and DOB required.
- Grace Period – 7 calendar days.
- Credit Check – ChexSystems.
Bank Overview
One World Bank has an overall health grade of "A+ at DepositAccounts.com, with a Texas Ratio of 0.79% (excellent) based on June 30, 2023 data. In the past year, OWB has increased its total non-brokered deposits by $13.23 million, an excellent annual growth rate of 9.9%. Please refer to our financial overview of One World Bank (FDIC Certificate # 57901) for more details.
One World Bank opened its doors for business in 2005. Although some may find the “One World Bank” name ominous (think globalists trying to create a one-world government), OWB is actually a small bank – 259th largest bank headquartered in Texas, with assets in excess of $188 million in assets and 1,750 customer accounts. According to a June 2022 article in Indo American News,
HOUSTON: Over a hundred people attended a luncheon reception held by One World Bank at its branch location in Chinatown this past Wednesday, June 15 to celebrate an important milestone in the bank’s history.
The bank has been ranked 19th in the nation and 3rd in Texas out of 4015 community banks with under $3bn in assets, according to the prestigious S&P Global Market & intelligence survey for 2021. S&P Global is a world-leading provider of financial information services.
How the 180-Day CD Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the market area, have fixed rates, and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on the One World Bank 180-day CD. The following table compares the 365-day to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.
| APY | CD Term (Early Withdrawal Penalty) | Credit Union/Bank |
|---|---|---|
| 5.95% | 180-Day CD (EWP=2 months) | One World Bank |
| 5.75% | 9-Month Online CD (EWP=90 days) | Forbright Bank |
| 5.75% | 9-Month CD Special (EWP=90 days) | BluPeak Credit Union |
| 5.75% | 7-Month Share Certificate Special (EWP=30 days) | Interior Federal Credit Union |
| 5.75% | 7-Month CD Special (EWP=90 days) | Presidential Bank |
How the 365-Day CD Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the market area, have fixed rates, and have minimum deposit requirements of $10k or less, one credit union has a higher rate than currently offered on the One World Bank 365-day CD. The following table compares the 365-day to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.
| APY | CD Term (Early Withdrawal Penalty) | Credit Union/Bank |
|---|---|---|
| 6.18% | 12-month Share Certificate Special ($100k max) (EWP=lesser of all dividends or 90 days) | Bayer Heritage Federal Credit Union |
| 5.95% | 365-Day CD (EWP=3 months) | One World Bank |
| 5.80% | 12-17 Month CD (EWP=greater of $50 or 270 days) | Credit Human |
| 5.67% | 12-Month Popular Direct CD (EWP=270 days) | Popular Direct |
| 5.65% | 12-Month Online CD (EWP=180 days) | BMO Alto |
The above information and rates are accurate as of 11/14/2023.
To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.
