BBVA Compass now has special CD rates that are competitive for both the mid-term and long-term maturities. In March I reviewed the bank’s special 29-month and 60-month CDs. The bank also has a special 18-month CD with a competitive 1.15% APY. Minimum deposit is $500, and the maximum deposit is $2,500,000 ($250,000 maximum deposit for CD accounts opened online). This rate is listed in the bank’s CD promotion page as of 7/17/2014.
BBVA Compass customers who have preferred client relationship may be able to get an extra 10 basis points to these CD rates. This extra rate bump has changed in the past so be sure to check with your BBVA banker for the latest policy. Last year you could get an extra 25 bps on a CD if you had a checking account with a combined balance of $25,000.
One thing that has changed for the better over the last year at BBVA Compass is that they are now allowing people in any state to open CD accounts. According to the bank CSR:
you do not have to live in our market area for deposit accounts. However, we do require you live in our market area for some loans, lines of credit, and credit cards.
There’s an online application that's available to both new and existing customers. You can also open a CD by phone with the bank’s Sales Department at 1-800-239-1001. You can fund the account through electronic transfers from other financial institutions or by mailing a check to BBVA Compass.
If you prefer to open a CD at a branch, the bank has an extensive branch network in the regions it serves. BBVA Compass branches are located in Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas.
BBVA Compass is a large regional bank that operates almost 700 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 grade at DepositAccounts.com of an A+ with a Texas Ratio of 3.76% (excellent) based on March 2014 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 This CD Rate Compares
The best CD rate for a term around 18 months that’s nationally available continues to be 1.50% APY. This is a special 17-month CD that’s being offered by Xceed Financial Credit Union. The best 18-month CD rate at an internet bank is 1.17% APY. This is currently available at both EverBank and VirtualBank. These rates are accurate as of 7/17/2014.
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.