Best CD Rates & CD Yields in Texas

National average CD rates declined slightly again this week over last. CD rates will stay at the current levels until the end of 2010 or early 2011. The direction of CD rates will depend on the economy and the rate of inflation. The FOMC released their statement on monetary policy on June 23 and decided to keep the fed funds rate in a targeted range of zero percent to one quarter percent. The fed also kept it’s language intact on keeping the fed funds rates low for an extended period of time since inflation is subdued.

Looking for the best bank CD rates and credit union CD rates? Search our CD rate tables at CDRates.MonitorBankRates.com to find the best CD rates in your area.

The current national average 3 month CD interest rate is 0.425 percent this week. The current national average 6 month CD rate is 0.682 percent this week. Average 12 month CD rates are higher at 0.965 percent. There are CD rates higher than the national average CD rates.

We have compiled a list of the best CD rates from banks and credit unions in the state of Texas. Our list of the best CD rates includes 3 month, 6 month and 12 month bank CD rates/credit union CD rates.

BankDirect, Texas Capital Bank and Nationwide Bank top our list of the best 3 month CD rates in Texas. All three banks are currently offering 3 month CD interest rates at 0.75 percent with an annual percentage yield (APY) of 0.75 percent.

Flagstar Bank has the highest 6 month CD rate on our list. Flagstar Bank’s current 6 month CD rate is 1.24 percent with an APY of 1.25 percent. Discover Bank is next on the list with a 6 month CD rate of 1.14 percent with an APY of 1.15 percent.

Flagstar Bank also is tied for the highest CD rate on our 12 month CD rate list. Flagstar Bank and Sallie Mae Bank are currently offering a 12 month CD rate at 1.54 percent with an APY of 1.55 percent. There are banks also offering CD rates lower than the national average rates. Frost Bank is offering their 12 month CD rates at 0.40 percent.

Following is a list of the best CD rates in Texas

Best 3 month CD Rates and CD Yields

• BankDirect 0.75% APY Min $10,000  
• Texas Capital Bank CD Rates 0.75% APY Min $1000      
• Nationwide Bank CD Rates 0.75% APY Min $10,000      
• Ally Bank 0.74% APY Min $ 1      
• EverBank 0.70% APY Min $1500   
• Bank of the West 0.70% APY Min $10,000      
• Discover Bank 0.65% APY Min $2500   
• Giantbank.com 0.65% APY Min $2500   
• MetroBank 0.60% APY Min $500     
• Beal Bank 0.51% APY Min $1000 

Best 6 month CD Rates and CD Yields

• Flagstar Bank 1.25% APY Min $500   
• Discover Bank CD Rates 1.15% APY Min $2500   
• Ally Bank 1.14% APY Min $ 1     
• Giantbank.com 1.11% APY Min $2500     
• AIG Bank 1.06% APY Min $2500     
• Nationwide Bank 1.05% APY Min $10,000     
• PenFed 1.02% APY Min $1000   
• American Express Bank FSB 1.00% APY Min $ 0      
• MetroBank CD Rates 0.85% APY Min $500  

Best 12 month CD Rates and CD Yields

• Flagstar Bank 1.55% APY Min $500  
• Sallie Mae 1.55% APY Min $ 1     
• Bank of Internet USA  1.54% APY Min $1000     
• Discover Bank 1.50% APY Min $2500   
• American Express Bank FSB 1.50% APY Min $ 0     
• Ally Bank 1.49% APY Min $ 1    
• AIG Bank 1.49% APY Min $2500      
• Giantbank.com 1.46% APY Min $2500      
• Tennessee Commerce Bank 1.45% APY Min $2500     
• Nationwide Bank 1.40% APY Min $10,000        
• PenFed 1.37% APY Min $1000      
• BancorpSouth 1.30% APY Min $1000