State Bank of Texas Offers Rate Leading 12-Month CD


Deal Summary: 12-month, 0.85% APY, $25k minimum deposit

Availability: Nationwide

In the past few years, State Bank of Texas (SBT) has been periodically offering limited-time nationally available special rate CDs. The current offering is a 12-month CD that earns 0.85% APY with a minimum $25k opening deposit.

0.85*%$25k$250kState Bank of Texas (SBT)12 Month CD - Limited Time Special
Rates as of January 25, 2022.

The last time the 12-month CD was available was in the spring, but only residents of Harris County, Texas (and seven contiguous counties) were eligible for the 0.85% APY ($100k minimum). The rates available to the rest of the country at that time were definitely not that special: 0.55% APY ($25k) and 0.65% APY ($100k).

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 check. 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 more than four years. At this time, the only nationally available CD offered is the limited-time 12-month CD.

The first page of the online application reads,

Please note that you must be 18 years of age and classified as a US Person to apply online.

According to the IRS definition of U.S. Persons, the following are eligible to open a 12-month CD:

  • A citizen or resident of the United States
  • A domestic partnership
  • A domestic corporation
  • Any estate other than a foreign estate
  • Any trust if: a court within the United States is able to exercise primary supervision over the administration of the trust, and one or more United States persons have the authority to control all substantial decisions of the trust
  • Any other person that is not a foreign person.

In addition to opening a CD online, SBT has five Texas branches located in Dallas, Garland, Houston, Irving, and Richardson, and a single full-service Illinois branch located on Chicago’s North Side.

While SBT has a presence at Chicago’s Midway and O’Hare airports, the vast majority of those “branches” are kiosks that only offer currency exchange services. The one exception is the O’Hare location in Terminal 5, on the Lower Level outside of security next to arrivals. No airline ticket is required for entry to the Terminal 5 location.

Bank Overview

State Bank of Texas has an overall health grade of "A" at, with a Texas Ratio of 7.27% (excellent) based on September 30, 2021 data. In the past year, SBT has increased its total non-brokered deposits by $252.13 million, an excellent annual growth rate of 36.82%. 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. SBT is currently the 77th largest bank headquartered in Texas, with deposits in excess of $1.2 billion.

How the CD Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts that are available nationwide and require a minimum deposit of $25k or less, State Bank of Texas’ 12-month CD APY currently claims the top spot.

The above information and rates are accurate as of 12/9/2021.

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, nationwide deals

Competitive Jumbo Money Market Account at State Bank of Texas
Deal Summary: Jumbo Money Market, 0.75% APY, $100k minimum.

Availability: Nationwide

Thanks to a comment made by DA reader, keke2die4, the Jumbo Money Market offered by State Bank of Texas’ (SBT) was added to this week’s Liquid Summary. The Jumbo Money Market currently earns 0.75% APY on balances of at least $100k.

The Jumbo Money Market has seen a variety of changes between 2016 and 2017. In early 2016, the Jumbo Money Market (known then as Jumbo MMDA) was only available in Chicago. A few...

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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.

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

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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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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.