Everything is bigger in Texas, and according to Go Banking Rates’ latest installment of its ongoing local rates studies, this statement is very accurate when it comes to interest rates. The study compares average Texas deposit account rates with other U.S. states to find out how Texas measures up. We also highligh the top 10 credit unions and banks in Texas offering the best rates presently.
The new study on Texas credit union and bank interest rates finds institutions in Texas offer some of the highest CD and savings account rates in the country, with all average rates in the state exceeding the national average in every category evaluated.
Deposit Account National Averages
| Account Type | Average Rate |
| 6-Month CD | 0.30% APY |
| 1-Year CD | 0.45% APY |
| 2-Year CD | 0.67% APY |
| Savings Account | 0.21% APY |
Texas Interest Rate Averages
| Account Type | Average Rate |
| 6-Month CD | 0.39% APY |
| 1-Year CD | 0.56% APY |
| 2-Year CD | 0.79% APY |
| Savings Account | 0.27% APY |
Ranking: Texas Rates Vs. U.S. States and Washington, D.C.
- 6-Month CD: 7th
- 1-Year CD: 5th
- 2-Year CD: 8th
- Savings Account: 7th
Top Texas CD Rates
| Institution | 6-Month CD Rate |
| Intercorp Credit Union | 0.95 |
| Cen Tex Manufacturing Credit Union | 1.00 |
| Citizens State Bank Buffalo, TX | 1.00 |
| Laredo Fire Department Federal Credit Union | 1.00 |
| Member Preferred Credit Union | 1.00 |
| Texar Credit Union | 1.00 |
| Fayetteville Bank | 1.01 |
| Houston Police Credit Union | 1.04 |
| Gulf Coast Federal Credit Union | 1.10 |
| Navy Army Credit Union | 1.10 |
| Institution | 1-Year CD Rate |
| Intercorp Credit Union | 1.25 |
| Cen Tex Manufacturing Credit Union | 1.26 |
| Corpus Christi S.P. Credit Union | 1.26 |
| County & Municipal Employees Credit Union | 1.26 |
| Fayetteville Bank | 1.26 |
| Laredo Fire Department Federal Credit Union | 1.26 |
| Member Preferred Credit Union | 1.26 |
| Houston Police Credit Union | 1.27 |
| Navy Army Credit Union | 1.35 |
| Gulf Coast Federal Credit Union | 1.50 |
| Institution | 2-Year CD Rate |
| Coastal Community And Teachers Credit Union | 1.34 |
| Corpus Christi City Employees Credit Union | 1.36 |
| Red River Employees Credit Union | 1.46 |
| Express-News Credit Union | 1.50 |
| County & Municipal Employees Credit Union | 1.51 |
| Laredo Fire Department Federal Credit Union | 1.51 |
| Member Preferred Credit Union | 1.51 |
| Navy Army Credit Union | 1.75 |
| Gulf Coast Federal Credit Union | 1.85 |
| Texar Credit Union | 1.85 |
Best Texas Savings Account Rates
| Institution | Savings Rate |
| American Express Bank FSB, Member FDIC | 0.90 |
| Ellis County Teachers And Employees Credit Union | 0.90 |
| Citizens State Bank Buffalo, TX | 0.93 |
| Gulf Coast Federal Credit Union | 0.95 |
| Everman Parkway Credit Union | 1.00 |
| Corps Of Engineers Credit Union | 1.01 |
| Morris Sheppard Texarkana Federal Credit Union | 1.21 |
| Bivins Federal Credit Union | 1.26 |
| Houston Police Credit Union | 2.02 |
| Pioneer Muslim Federal Credit Union | 3.03 |
About This Texas Interest Rates Study
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Rates are accurate as of January 31, 2013, based on the interest rates published on institutions’ websites and assuming a $10,000 deposit. Before opening an account with any financial institution listed above, it’s important to first verify rates directly with the bank or credit union, as rates can change.
(Image: Blue Print Prep)
