Compound Interest Calculator
CD 1-year Account from State Bank of Texas with 3.90% APY and $50,000 minimum deposit

You need to specifically indicate what you are applying your money to when you take out an account here. You could make a mistake and put your money on a lesser rate product than what's advertised. Otherwise its a great option for savers.

People read what you are looking at . . . this section is for CD's not money market accounts. Two different investments types, CD covered by insurance and money markets are not. Know what you are doing and use the correct language before giving anyone your money.

However, no one should be surprised that the increased interest rates are very seldom passed on to the customer based on pure greed for profits or anticipated loan defaults. The higher the interest rate on loans & credit cards and low interest rates on savings, the more likely your money is at risk as FDIC back in 1987 said they didn't have the $150,000 to cover account loses. So what makes anyone believe the FDIC will able to cover $250,000 per account holder name. Hence if you have a $250,000 CD and a joint checking account with husband, you only get $250,000 coverage if you are lucky and forfeit half of the money in the checking if and when the bank fails. A little financial education goes a long way. So also check out a bank's derivative exposure, which puts them at greater risk of failure.

https://www.usbanklocations.com/bank-rank/derivatives.html

Do not use this bank! Their money market accounts were showing online as some of the highest in the country so I opened an account. I noticed ongoing advertising of high rates but did not see these high rates being paid to my account. When I called "Christina" the "assistant manager" she said "those higher rates are for a 'different product'". Different product? Ridiculous! I had deposited the max covered by FDIC! She was also very obnoxious and kept interrupting me constantly so I could barely say anything. Also, when I requested a form to wire my money out of the account, she refused and said someone else would have to call and ID me and send me the form. AVOID THIS BANK AT ALL COSTS!

It would be insanity to lock into a 1-year CD at 0.85 with this "bank" when they are paying 0.75% on a savings account and the Fed is going to hike to at least 1% by the middle of the year (and both CD and savings rates will be higher by then).

This is misleading to list this on this site. The account cannot be easily opened online. They don't even answer the phone.