Texas has 628 banks and 563 credit unions. With all of those financial institutions in the Lone Star State, it's no wonder that there are some way above-average CD rates to be found. The average 3 year national CD rate according to BestCashCow is 1.15% APY. But we have never been content settling for average, and neither has Texas. The following banks offer 3-year CD rates well above the national average:
- First Security Bank, National Association of Flower Mound, TX is offering a 2.00% APY 36-month CD with a very reasonable $1,000 minimum deposit. That's the lowest minimum deposit of any of the top rate CDs in Texas. The bank was founded in 1907 and has approximately $150 million in assets. First Security has three branches located in Aubrey, Hickory Mound, and Flower Mound - outside of Dallas. The bank's Texas Ratio of 38.47% is higher than the national average of 21.06% (learn about Texas Ratios and bank health and soundness). First Security is FDIC insured.
- The First National Bank Of Shiner is offering a 1.92% APY 3-year CD with a minimum balance of $100,000. The bank was founded in 1900 and has $160 million in assets. It operates one branch in Shiner, TX which is between Austin and San Antonio. Shiner is the home of Shiner Bock, the regional beer enjoyed by millions of UT students. The bank has strong financials with a low Texas Ratio of 0.67% and strong deposit growth over the past five years.
- Fayetteville Bank is offering a 1.92% APY 36-month CD with a minimum balance of $100,000. The bank was founded in 1917 and has approximately $250 million in assets. The bank has two branches, one in Fayetteville and the other in Schulenburg. This bank also has strong financials with a low Texas Ratio of 0% (can't get much lower) and strong deposit growth over the past five years.
There are several other banks below these three on the rate tables but they all have minimum balances of $100,000. The next 3 year CD with an above-average rate and a smaller minimum balance is:
- Enterprise Bank. The bank is offering a 1.82% APY 3 year CD with a $1,000 minimum balance. Enterprise was founded in 1905 and has approximately $520 million in assets. It has nine branches, seven of which are located near Houston and two are outside of Waco. The bank has an average Texas Ratio of 22.54%.
If you prefer the credit union route, Texas has quite a few credit unions offering competitive CD rates.
- El Paso Employees Federal Credit Union. El Paso FCU is offering a 3-year CD paying 2.52% APY with a $500 minimum balance. El Paso Employees Federal Credit Union has a field of membership that includes anyone who lives, works, worships or attends school in El Paso County, Texas. Businesses and other legal entities located within El Paso County are also eligible for membership. The credit union operates 11 branches in the El Paso area.
El Paso seems to have quite a few credit unions offering very competitive rates. View CD rates for other credit unions in El Paso and across all of Texas by clicking though on the CDs tab above.
In addition, online banks also offer attractive 3-year CD rates to residents across all of Texas. These CDs need to opened and managed online.
- Discover Bank offers 1.60% APY with a $2,500 minimum balance.
- Aurora Bank is paying 1.61% APY with a $100,000 minimum balance.
- Ally Bank is paying 1.49% APY with a $0 minimum balance.
To find rates for terms other than just 36-months in your local area or online, please check out our comprehensive list of CD Rates. BestCashCow has one of the biggest databases of CD rates in the U.S. for local and online banks as well as credit unions.