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Higher CD Rates with Checking at BBVA Compass in Several States


BBVA Compass has been offering competitive rates on its Featured CDs for the last several months. I just learned this morning that customers can receive an extra 10 basis points on the 24-month and 60-month Featured CD rates if the customer also opens a checking account. Below is a summary of the rates as of 11/5/2012:

  • 2.10% APY 5-year CD with checking (2.00% w/o checking)
  • 1.35% APY 2-year CD with checking (1.25% w/o checking)

These rates without a checking account are listed at BBVA Compass CDs page, but the extra rate with a checking account doesn't appear to be mentioned on Compass's website. I saw it advertised in a SoCal newspaper, and I called the bank at 800-266-7277 for details. I was told that this extra rate applies to both the 24-month and 60-month CD, and it's available at all Compass branches.

Checking Requirements

You'll have to decide if the extra CD rate from the checking account is worth it. A CompassLink Checking is required with a minimum initial balance of $2,500. Also, I was told the checking account must remain open for the duration of the CD. A Compass checking account will go dormant after only 3 months of inactivity.

All of Compass checking accounts have potential monthly fees. For the CompassLink checking, the monthly fee can be waived if you maintain a combined average daily collected balance of $5,000 in your CompassLink Checking and Compass Preferred Money Market account. This Compass checking page has more details.

$100 Checking Account Promotion

If you do open a Compass CD, you may also want to consider the bank's $100 checking account bonus. This has once again been extended, and it's now scheduled to expire on 11/30/2012. I posted on this bonus in my BBVA Compass checking bonus review. As I mentioned above, you have to be careful to avoid fees.


To open an account I've been told BBVA Compass requires new customers to live within 60 miles from a branch. BBVA Compass branches are located in Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas.

Bank Overview

BBVA Compass is the 31st largest bank in the nation and operates 716 branches in Texas, Alabama, California, Arizona, Florida, Colorado and New Mexico. It's under the bank holding company Banco Bilbao Vizcaya Argentaria S.A., the second largest bank in Spain.

BBVA Compass has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 13.45% (above average) based on March 2012 data. Please refer to our financial overview of BBVA Compass for more details. The bank has been a FDIC member since 1964 (FDIC Certificate # 19048).

How These CD Rates Compare

The highest 2-year CD rate that's nationally available is 1.36% APY at PenFed, and the highest 5-year CD rate is 2.12% APY at Stanford Federal Credit Union (this requires checking with direct deposit and a $100K minimum). Without a large balance and without a checking account, the best rate is 2.00% APY at Pinnacle FCU, Mountain CU, Pen Air CU and Communitywide FCU.

These rates are accurate as of 11/5/2012.

Searching for the Best CD Rates

To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

Related Pages: BBVA Compass, CD rates

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Harry   |     |   Comment #1
Do you have to have a CompassLink checking account for the higher rate? A Build To Order checking account requires a lower balance to waive fees.