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  • Bank Games
    • Bank Game: Financial Football
    • Bank Game: Road Trip to Savings will Make or Break You
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    • We Are Rich
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    • Save Money on Household Utilities by Going Green
    • Saving Money and Sanity with Realistic Savings Goals
    • Money Resolutions: 3 Steps to Keep Them
    • How to Earn 13 Times the National Average Savings Rate FDIC Insured
    • 3 Easy Rules for Saving Without Budgeting
    • Budget According To Priorities Not Impulses
    • How Market Linked Certificates of Deposits Work
    • 15 Money Saving Tips That Will Beef Up Your Savings Account
    • Simple Steps to Getting a Savings Account
    • Savings Tips for Thriving in the Recession
    • 10 Simple Ways to Save Money Now
    • Real Money Saving Tips- From Real People
    • Just What Is a Savings Account?
    • What is a Rainy Day Savings Account?
    • Money Market Account vs. Savings Account Comparison
    • How to Find and Reduce Hidden Expenses
    • Is Your Bank Doomed to Fail? 5 Ways You Can Protect Your Savings Account
    • Traditional IRAs

Reviewing Bank Of Texas CD Accounts

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Reviewing Bank of Texas CD AccountsWhen reviewing various CD accounts that are available it is important to compare interest rates and several other things that can make a CD account stand out. Here are some of the key points to consider and why you might want to consider a Bank of Texas CD account.

Current rates show that Bank of Texas CDs are some the highest out there! The rates are sitting at about .75% (5 years), which is pretty good when you compare them to other that are merely about .60%. It is a good idea to look into using a CD that has a higher interest rate to lock your money into. Some of the key benefits to the Bank of Texas CD include the following:

  • Higher interest rates from most other banks (compare rates now)
  • Ability to lock in a higher rate
  • No fee to open their CD
  • FDIC insured up to $250,000
  • Have the option to style a CD as a Roth IRA
  • Can use your CD as collateral on a Bank of Texas loan
  • 24 hour ExpressBank service

Why A CD Account?

Out of all the investment accounts out there, you may be curious to know why we recommend you use a CD. First, the interest rates for savings are much higher than you will get with just about any other bank. Second, CD accounts are one of the most commonly used low-risk investment options. They are safe! Having something that is secure and will give you a return is rare in today’s economy, which is why it’s nice to have a CD as a security feature in your investment portfolio.

Competitive Rates

CD accounts continue to rank higher on our list for savings plans because the interest rates are competitive. They will give you a chance to really predict what your earnings can be where a money market and even a savings account can vary, making it hard for you to figure out.

CD Laddering

One approach to a CD account is to use a strategy called CD laddering. This is beneficial as it will allow you to determine the length of time for your CDs so you can continue to get money back frequently. Many investors find that CD laddering is nice for retirement as you always have your money invested somewhere and you can continue to earn.

Filed Under: Best CD Rates, CD Rates  Tagged: Bank of Texas, Bank of Texas CD, CD account, CD laddering, CD Rates, compare interest rates, competitive rates, current CD rate, FDIC, higher interest rate, investment portfolio, retirement, savings

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Advertiser Disclosure: Many of the deposit account listings appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts available. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit Union deposits are insured by the National Credit Union Administration. Many banks and credit unions show different rates on their own websites. Identify yourself as a Bankrate consumer to get the rates displayed in the listings above. If you are dissatisfied by the institution you choose or believe you have received an inaccurate quote, please let us know.

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APY

APY or the annual percentage yield is the real rate of return of an investment over a period of a year taking into account the effect of compounding interest.

Compound Interest

Compound interest occurs when the interest earned on an account is credited back to the account and then interest is earned on the new total balance.

Depositor Insurance

All banks and credit unions listed or reviewed on this site are either FDIC insured or for credit unions NCUA insured. Currently FDIC and NCUA insurance provide insurance up to $250,000 per depositor per institution.

National Average Savings Rate Calculation

The national average calculations were obtained from the Weekly National Rates published by the FDIC.gov website.

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