Last month, PlainsCapital Bank introduced three CD Specials: 10-month (1.00% APY), 13-month (1.26% APY), and 19-month CD (1.51% APY). The minimum opening deposit is $1k, with no stated balance cap. Of the three, the 19-month CD Special is the most competitive.
|1.51%||$1k||-||PlainsCapital Bank||19 Month CD Special|
|1.26%||$1k||$5m||PlainsCapital Bank||13 Month CD Special|
|1.00%||$1k||-||PlainsCapital Bank||10 Month CD Special|
As stated in the Consumer Disclosure Brochure, the Early Withdrawal Penalty reads as follows:
For Time Deposit accounts with a maturity date of eight (8) days to three hundred sixty-four (364) days, thirty (30) days interest on the amount withdrawn.
For Time Deposit accounts three hundred sixty-five (365) days and over, ninety (90) days interest on the amount withdrawn.
Headquartered in Dallas, PlainsCapital Bank’s market area includes most of the major cities in Texas.
Opening a CD Special must be done in person at any of 66 Texas branches located throughout the state in the following areas: Alice (1), Austin (6), Brownsville (4), Corpus Christi (4), Dallas-Fort Worth (20), Eagle Pass (1), El Paso (1), Harlingen (1), Houston (2), Laredo (2), Lubbock (10), McAllen (8), San Antonio (4), San Padre Island (1), and The Woodlands (1).
PlainsCapital Bank’s online banking platform is currently limited to account management and bill payment services, including Apple Pay.
PlainsCapital Bank has an overall health rating of "A+" at DepositAccounts.com, with a Texas Ratio of 3.10% (excellent) as of December 31, 2016. In the past year, the Bank has increased its total non-brokered deposits by $222.38 million, an excellent annual growth rate of 3.51%. Please refer to our financial overview of PlainsCapitalBank (FDIC Certificate # 17491) for more details.
PlainsCapital Bank was founded in 1988, following the acquisition of the Plains National Bank by a group of Lubbock bankers, whose goal was “bringing relationship banking to their hometown.” The newly acquired Plains National Bank was a one-branch institution with $198 million in assets. In the past 23 years, The Bank has gone through four name changes and acquired four Texas banks. With assets in excess of $9.5 billion, PlainsCapital Bank is currently the seventh largest bank in Texas and the 122nd largest bank in the nation.
How the CD Special Compares
When compared to the 355 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to within the Bank’s market area, PlainsCapital Bank’s 19-month CD Special APY currently ranks second.
|Interest Rate||CD Length of Term||Bank/Credit Union|
|1.60% APY||15-Month Share Certificate Special||NASA Federal Credit Union|
|1.51% APY||19-Month CD Special||PlainsCapital Bank|
|1.50% APY||20-Month Share Certificate Special||Bayer Heritage Federal Credit Union|
The above rates are accurate as of 5/12/2017.