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  BankDirect CD

BankDirect CD

in CD Accounts from Texas Capital Bank · Member fdic

Unaffiliated

BankDirect CD

Unaffiliated

in CD Accounts from Texas Capital Bank · Member FDIC

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Highlights
Minimum Opening Deposit Starting at $10,000
Deposit Term
  • 3 months
  • 6 months
  • 12 months
  • 18 months
  • 2 years
  • 30 months
  • 3 years
  • 4 years
  • 5 years
APY (Annual Percentage Yield) 0.10% - 0.25%

BankDirect CD Review

BankDirect CD is offered by Texas Capital Bank, a bank founded in 1998 and based in Dallas, TX. BankDirect CD is available in 50 states (and Washington, DC).

Key Takeaways
  • Small selection of CD account types. BankDirect CD only offers traditional and IRA CDs.
  • Very high APY. This account offers an annual percentage yield of up to 0.25%, which is much higher than the national average for a CD account.
  • High minimum deposit. You must deposit a minimum of $10,000, which is high compared to most CD accounts.
  • Wide selection of CD terms. BankDirect CD allows you to create a CD ladder by spreading your cash across certificates of deposit with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.
Pros & Cons of BankDirect CD
Pros Cons
  • FDIC insured.
  • Multiple CD terms available.
  • Available in all 50 states.
  • High-interest yield.
  • No charge on incoming domestic or international wire transfers.
  • There isn't a no-penalty CD option.
BankDirect CD FAQ

Are cd accounts from Texas Capital Bank federally insured?

Yes, your Texas Capital Bank cd accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #34383). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does Texas Capital Bank offer?

BankDirect CD provides the following types of CDs.
  • Traditional CDs. These CDs pay a fixed interest rate i you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD for another term.
  • IRA CDs. An IRA CD is a type of IRA that consists entirely of CDs. In general, you can invest in CDs in any IRA, but BankDirect CD offers a CD that is specifically for retirement.

What CD rates does Texas Capital Bank offer on its CDs?

BankDirect CD offers an APY starting at 0.10% and ranging up to 0.25%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does BankDirect CD offer?

Texas Capital Bank offers CD terms of the following lengths:
BankDirect CD Rates & Terms
Description
2-Year APY 0.60%
3-Month APY 0.10%
3-Year APY 0.50%
4-Year APY 0.25%
5-Year APY 0.25%
6-Month APY 0.50%
12-Month APY 0.60%
APY (Annual Percentage Yield) 0.10% - 0.25%

What is the minimum deposit to open a CD account with Texas Capital Bank?

BankDirect CD requires a minimum deposit of $10,000 to open an account.

What is the grace period for BankDirect CD?

There is a 10-day grace period for BankDirect CD. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 10-day grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does BankDirect CD charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

Texas Capital Bank does not charge an early withdrawal fee.

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Contact

  • Headquarters
  •   2000 McKinney Avenue
    Suite 700
    Dallas, TX 75201
  •   Visit Site

Hours of Operation

  • Sunday Closed
  • Monday 10:00am - 2:00pm
  • Tuesday 10:00am - 2:00pm
  • Wednesday 10:00am - 2:00pm
  • Thursday 10:00am - 2:00pm
  • Friday 10:00am - 2:00pm
  • Saturday Closed

About BankDirect CD

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Opening Deposit Starting at $10,000
2-Year APY 0.60%
3-Month APY 0.10%
3-Year APY 0.50%
4-Year APY 0.25%
5-Year APY 0.25%
6-Month APY 0.50%
12-Month APY 0.60%
APY (Annual Percentage Yield) 0.10% - 0.25%
CD Accounts
  • IRA
  • Traditional
Grace Period for Account Changes 10 days
Deposit Term
  • 3 months
  • 6 months
  • 12 months
  • 18 months
  • 2 years
  • 30 months
  • 3 years
  • 4 years
  • 5 years

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