Last Updated: 04/18/2025
No Reviews Yet
This product has no reviews yet. Help others by sharing your thoughts.
Be the first to rate
Cast Your Vote
Compare All CD Accounts
Filter & compare all your options in one place.
Highlights
APY (Annual Percentage Yield)
0.10% - 0.25%(Verified 06/21/2024)
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $10,000
Certificate Term
- 3 months
- 6 months
- 12 months
- 18 months
- 2 years
- 30 months
- 3 years
- 4 years
- 5 years
BankDirect CD Review
BankDirect CD are offered by Texas Capital Bank, a bank founded in 1998 and based in Dallas, TX. BankDirect CD are available in 50 states and Washington, DC.
Key Takeaways
- Small selection of CD account types. BankDirect CD only offers IRA and traditional CDs.
- Low APY. The maximum annual percentage yield for this account is only 0.25%.
- 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 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 |
|
|
BankDirect CD FAQ
Are CD from Texas Capital Bank federally insured?
Yes, your Texas Capital Bank CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). 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 if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs 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 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:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Month APY | 0.10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12-Month APY | 0.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 0.10% - 0.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 6-Month APY | 0.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 0.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Year APY | 0.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4-Year APY | 0.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5-Year APY | 0.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a CD account with Texas Capital Bank?
BankDirect CD require 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 Texas Capital Bank 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 term ends.
Texas Capital Bank charges an early withdrawal fee.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
Sunday
Closed
Monday
8:00AM - 6:00PM
Tuesday
8:00AM - 6:00PM
Wednesday
8:00AM - 6:00PM
Thursday
8:00AM - 6:00PM
Friday
8:00AM - 6:00PM
Saturday
Closed