bank rates

Texas Deal: 7-Year CD Rates Well Over 3%

Randolph-Brooks Federal Credit Union has a bunch of good 7-year CD rates for its 325,000 members in south central Texas.

Randolph-Brooks Federal Credit Union is paying savers in the Austin and San Antonia areas up to 3.45% APY.

It’s offering:

  • 3.30% APY with a $1,000 minimum deposit.
  • 3.35% APY with a $5,000 minimum deposit.
  • 3.40% APY with a $20,000 minimum deposit.
  • 3.45% APY with a $75,000 minimum deposit.

We tend to think of seven years as too long for most savers to tie up their money. But it’s difficult to find safe, federally-insured alternatives still offering a 3% return.

Even the lowest of those rates is nearly four-tenths of a percentage point more than the best nationally available 5-year CD rates.

You belong to Randolph-Brooks Federal Credit Union to buy these certificates of deposit, but membership is open to anyone who lives or works in the Austin and San Antonio areas.

Members can purchase CDs over the phone or in person at one of the credit union’s 37 locations.

The early withdrawal penalty is relatively steep — 420 days, or about 14 months, worth of interest.

Compare these returns with the best CD rates from scores of banks in our extensive database.

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Comments (5)
1 Star2 Stars3 Stars4 Stars5 Stars (5 votes, average: 5.00 out of 5)
5 Existing Comments
  1. DealMaven said:
    on January 11th at 02:58 pm

    This rate for Texans was still available as of Jan. 11, 2011. Good deal.

  2. Kathy O'Gorman said:
    on January 30th at 11:59 am

    And still good as of Jan. 30.

  3. Kathy at Bankaholic said:
    on February 28th at 10:00 am

    These rates are still being offered as of Feb. 28, 2011.

  4. Kathy at Bankaholic said:
    on April 3rd at 04:23 pm

    These deals are still available as of April 3, 2011.

  5. Mike at Bankaholic said:
    on August 10th at 11:42 am

    Randolph-Brooks has cut its 7-year CD rates a bit. The best you can earn now is 3.40% APY.