The MINT National Bank (TX) Adds Rate-Leading 15-Month CD Special

The MINT National Bank (The MINT) has added a 15-month CD Special that offers a “wow-worthy” 5.75% APY. This limited-time promotion can be opened with $10k minimum deposit, with no stated balance cap. While no end-date is specified, CSR hinted the 15-month CD Special may be available for a short time, considering the competitive rate.

The 15-month CD Special is also available as an IRA CD Special (Traditional), earning the same 5.75% APY with the same deposit requirements.

Availability

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, although an online application “is in the works.” While there are four other Texas branches located in Dallas, Houston (2), and Spring, these are actually loan servicing centers.

Funding and Other Details

As The MINT website is exceedingly light on documentation, the following information is from a conversation with a CSR.

• Funding – ACH, wire, check, cash, or internal transfer.
• Ownership – Individual, joint, or trust.
• Early Withdrawal Penalty – 90 days on the amount withdrawn, with partial withdrawals allowed.
• Interest – Compounded daily/credited monthly; may be added back to CD or deposited to an account on a monthly, quarterly, or annual basis.
• Maturing Funds – Cashier’s check to address on file or internal transfer.
• Grace Period – 10 calendar days.
• Beneficiaries – Unlimited, with percentages available; Social Security numbers are not required.
• Credit Check – ChexSystems

Bank Overview

The MINT National Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.23% based on March 31, 2023 data. In the past year, the Bank has increased its total non-brokered deposits by $18.75 million, an excellent annual growth rate of 6.23%. 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 was also the last bank in the Houston area to have opened since 2009 until Gulf Capital Bank opened its doors in Q2 2020. Although The MINT is currently the 193^rd largest bank in Texas with assets of just $386+ million, its SBA Commercial Banking Office in New Jersey has frequently been recognized as one of the 150 largest SBA lenders in the country.

According to a Houston Business Journal August 2021 press release,

Independent Banker, the award-winning magazine of the Independent Community Bankers of America (ICBA) and the number-one source for community banking news, recognized The MINT National Bank, Kingwood, Texas, as an ICBA top lender in its July issue. The MINT National Bank recognition is based on the strength of its competitive banking services and operational efficiencies throughout 2020.

The “ICBA’s Top Lenders 2021” demonstrates the strength of personal connections to create a pathway for success as agricultural, commercial, and consumer and mortgage lenders. It showcases the importance of sound and efficient banking practices and their local knowledge and expertise in adapting to shifting market dynamics and evolving customer needs.

The annual list is based on the strength of competitive banking services and operational efficiencies using FDIC data for 2020. Scores were determined by combining the average of the bank’s percentile rank for lending concentration and loan growth over the past year in each lending category and asset size and adjusted for loan charge-o?s at certain percentile thresholds.

How the 15-Month CD Special Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that that are available in the market area and have minimum deposit requirements of $10k or less, no banks or credit unions have higher rates than currently offered on The MINT National Bank 15-month CD Special. The following table compares the 15-month CD Special to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.

The above information and rates are accurate as of 8/10/2023.

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