SBT Offers Special Rate On 12-Month CD To Houston Area Residents


Deal Summary: 12-month, 0.85% APY, $100k minimum deposit

Availability: Residents of Harris County (TX) and its contiguous counties.

In the past few years, State Bank of Texas (SBT) has been periodically offering nationally available special rate CDs. Currently, the only nationally available CD is a 12-month, with rates that aren’t that special (0.55% APY, $25k; 0.65% APY, $100k), but residents of Harris County (and seven contiguous counties) qualify for 0.85% APY ($100k minimum) on the 12-month CD.

0.85%$100k-State Bank of Texas (SBT)12 Month CD - Houston area only
0.65*%$100k$250kState Bank of Texas (SBT)12 Month CD
OTHER TIERS: 0.55% $25k - $100k
Rates as of May 10, 2021.

According to CSR, the Early Withdrawal Penalty for the 12-month CD is 30 days of interest.

Funding the 12-month CD can be done by ACH transfer, wire, or checking. Monthly interest can be paid via ACH to a checking account at any bank. Maturing funds can be distributed by ACH, cashier’s check to the address on file, wire, or transferred to another SBT account.


Headquartered in Dallas, State Bank of Texas has been offering a variety of CDs on a nationwide basis for about four years. At this time, SBT has only one nationally available CD (12-month), but that CD, earning an extra 20 bps, is available “for residents of Harris County, TX and contiguous counties.” (The contiguous counties include Brazoria, Chambers, Fort Bend, Galveston, Liberty, Montgomery, and Waller.)

Since I last wrote about SBT, an online application has been added to the Bank’s website, which is a definite improvement over the “New Account Form” SBT used to email to new customers. Residents of the eight eligible counties can also open the 12-month CD at the Houston branch on S. Gessner Road. (A mask is required to enter the Houston branch lobby.)

Bank Overview

State Bank of Texas has an overall health grade of "A" at, with a Texas Ratio of 5.67% (excellent) based on December 31, 2020 data. In the past year, SBT has increased its total non-brokered deposits by $63.1 million, an excellent annual growth rate of 9.3% Please refer to our financial overview of State Bank of Texas (FDIC Certificate # 27074) for more details.

Founded in 1987, State Bank of Texas is still a family-owned and operated bank. After 20 years in the hotel industry, SBT’s founder, Chan Patel, set out to create a bank for the immigrant community, particularly those in the hospitality industry. At the time, $2 million of capital was required to start a bank; Patel had $1 million of his own to invest but needed to find investors for the remaining $1 million. Using the novel approach of offering a lifetime career as a professional banker and a Director’s position in exchange for a $100k investment, Patel raised the monies within two weeks.

In the past ten years, SBT acquired Millennium State Bank of Texas, National Republic Bank of Chicago, and Seaway Bank, becoming the largest Indian-American owned bank in the country. In addition, SBT is currently the 82nd largest bank headquartered in Texas, with deposits in excess of $977 million.

How the CD Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts that are available in the greater Houston metro area, State Bank of Texas’ 12-month CD APY currently claims the top spot, regardless of minimum deposit requirements.

Interest RateCD Length of TermCredit Union/Bank
0.85% APY12-Month CD ($100k min)State Bank of Texas
0.80% APY1-Year Fixed CD ($500 min)Lafayette Federal Credit Union
0.75% APY13-Month Promo Share Certificate ($25k min)Gateway First Bank

The above information and rates are accurate as of 4/22/2021.

To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Chicago CD rates, Dallas CD rates, 1-year CD rates

State Bank of Texas Offers Top Rate on 12-Month Jumbo CD
Update 7/10/2020: CD rates listed below have expired and are only listed below for historical purposes.

Deal Summary: Jumbo CDs – 12-month (2.60% APY), 18-month (2.70% APY), 24-month (2.80% APY), 36-month (3.00% APY), $25k minimum.

Availability: Nationally available

In the past few years, State Bank of Texas (SBT) has been periodically offering nationally available special rate CDs. The latest are a series of Jumbo CDs, which required a $25k minimum deposit; in the past, the Jumbo CDs required a minimum deposit of $100k.

According to CSR, the Early Withdrawal...

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State Bank of Texas Ups Jumbo MMDA Rate

UPDATE 10/31/2017: No longer available.

Deal Summary: Jumbo MMDA (money market), 1.55% APY, $100k minimum.

Availability: Nationwide

In the past 16 months, I have written about State Bank of Texas’ (SBT) Jumbo MMDA three times. Since February 2016, the competitive Jumbo MMDA was available only in Chicago, then offered nationwide, then withdrawn completely for a short time, and then reinstated as a nationally available product in late August.

Last week, SBT raised the rate on the Jumbo MMDA to 1.55% APY on balances of $100k+, and CSR confirmed that it...

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State Bank of Texas 12-Month Jumbo CD Available Nationwide
Deal Summary: 12-month Jumbo CD, 1.55% APY, $100k minimum; 12-month CD, 1.45% APY, $25k minimum.

Availability: Nationally available

State Bank of Texas’ (SBT) has raised the rate on its 12-month Jumbo CD (1.55% APY, $100k minimum) and 12-month CD (1.45% APY, $25k minimum). SBT has been offering these products nationwide on-and-off for more than a year.

CSR stated that if you “bring a total of $200k, it will be split into two $100k CDs earning 1.575% APY."

According to CSR, the Early Withdrawal Penalty for the 12-month CD...

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State Bank of Texas Offers 1-Year CD and MMA Nationwide
Availability: Nationally available

DA readers may remember my February blog post about State Bank of Texas’ (SBT) 1-year Jumbo CD (1.25% APY, $25k; 1.35% APY, $100k) and Jumbo Money Market (1.25% APY, $100k). Initially, these rate specials were only available in the Chicago area, then were offered nationwide, and then were withdrawn completely in early August. I’m pleased to report that SBT has recently made these products available nationwide, yet again.

According to CSR, the Early Withdrawal Penalty for the 1-year Jumbo CD is one month’s interest.

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State Bank of Texas Offers Competitive 1-Year CD And MMA

UPDATE 8/8/2016: No longer available.

Availability: Nationwide

Sundays are usually my relatively slow email day, both in quantity and quality. Yesterday proved to be the exception, as I received a rather interesting email from a DA reader, who forward an advertisement he saw in yesterday’s Chicago Tribune.

According to the ad, State Bank of Texas (SBT) is offering a 1-year CD earning 3.35% APY – that’s right, 3.35% - and a Jumbo Money Market (1.25% APY, $100K minimum deposit). A quick call to the Chicago branch at 9:01 this...

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More Past Offers

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.