The MINT National Bank is offering some competitive mid-term and long-term CD rates. The highest rate is 2.10% APY for the 5-year CD. Other competitive ones include a 1.80% APY 4-year CD and a 1.50% APY 3-year CD. Minimum deposit is $1,000 for both regular and IRA CDs. These rates and a description of the CD features are listed in the bank's rates page as of 6/18/2012. Unfortunately, this page doesn't provide any details about early withdrawal penalties. It only says "substantial penalty for early withdrawal".
It appears that a branch visit is required to open an account. It's a small bank with one office in Kingswood, Texas which is about 10 miles north of Houston. The bank's front page has the following information about their market area:
The MINT, a new national bank headquartered in Kingwood, Texas, opened on January 5th, 2009. The first location, at 1213 Kingwood Drive, will serve the rapidly growing Kingwood/Humble/Atascocita market while future locations are planned for key areas around greater Houston.
Before making a long drive to a bank, it's a good idea to call the bank to make sure you are eligible to open the accounts.
The bank has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 1.64% (excellent) based on March 2012 data. Please refer to our financial overview of The MINT National Bank for more details. The bank has been a FDIC member since 2009 (FDIC Certificate # 58764).
How These CD Rates Compare
The MINT's CD rates compare favorably to the best rates that are nationally available. That's especially the case for the 5-year CD. The highest 5-year CD rate that's nationally available is 2.20% APY for a $100K deposit at Justice Federal Credit Union. The highest for a small deposit is 2.17% APY at Melrose Credit Union ($5K minimum). Melrose Credit Union also has the highest 3-year and 4-year CD rates (1.76% APY and 1.96% APY). These rates are accurate as of 6/18/2012.
Searching for the Best CD and IRA CD Rates
To search for the best nationwide rates and the best rates in your state, please refer to the following sections of DepositAccounts.com: