The MINT National Bank (The MINT) has been offering the same APYs on its long-term CDs for many months. In the current climate of slumping rates, The MINT’s CDs have become competitive by just maintaining their rates. A $1k minimum deposit is required to open, with no stated balance cap. (While The MINT’s Rates page lists tiered deposit levels, the CD APYs are the same for all deposit levels.)
All of The MINT's CDs are offered as IRAs (Traditional), earning the same APYs with the same funding requirements.
According to CSR, the Early Withdrawal Penalty for any of these CD is 12 months of interest on the amount withdrawal.
Headquartered in Kingwood, Texas (10 miles north of Houston), The MINT National Bank’s market area is the greater Houston metropolitan area, although any Texas resident who can come into the bank is “welcome to apply for an account,” according to CSR.
Opening a CD at The MINT must be done in person at the Kingwood branch. While there are three other branches in Houston, Spring, and Sugar Land, these are actually loan servicing centers.
The MINT’s online platform is currently limited to account management and bill payment services.
The MINT National Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 9.80% based on March 31, 2019 data. In the past year, the Bank has increased its total non-brokered deposits by $29.96 million, an excellent annual growth rate of 19.63%. Please refer to our financial overview of The MINT National Bank (FDIC Certificate # 58764) for more details.
The MINT National Bank is a young bank, having opened its doors in January 2009; it’s also the last bank in the Houston area to have opened since 2009. Having only one branch might seem limiting, but according to a Houston Business Journal October 2017 article, it allows,
the bank to invest in itself and its customers rather than spend money on stand-alone branches in a time when banks are rethinking their traditional brick-and-mortar strategy.
Although The MINT is currently the 229th largest bank in Texas with assets of just $219+ million, it is the 143rd largest U.S. Small Business Association loan originator (based on July 2019 data). So far this year, the MINT has originated more than $34.4 million in loans.
How the CDs Compare
When compared to 268 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the Bank’s market area, The MINT National Bank's 36-month CD APY currently ranks third.
When compared to 221 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the Bank’s market area, The MINT National Bank's 48-month CD APY currently ranks third.
When compared to 233 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the Bank’s market area, The MINT National Bank's 60-month CD APY currently ranks fifth.
The above rates are accurate as of 8/14/2019.
To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.