Amegy Bank CD Account Rating

Amegy Bank’s CD accounts came in well below average.  While Amegy Bank’s $1,000 minimum opening deposit requirement and modest withdrawal penalties (up to 30 days interest for principal withdrawals between one month and one year early) compared favorably to other major banks, that was about it as far as upsides, as the downsides far outweighed them.  For an online CD Amegy Bank only offers CDs with three term lengths – three months, six months, and one year.  There is little to no flexibility at all when it comes to the term lengths; one would have thought could have lengthened the terms to say three months, one year, and five years, but that is not the apparent route they took.  Nonetheless, an added downside to the one previously mentioned is that the rate for each CD account is well below industry average.  For the three month CD the rate is 0.05%, while the latter two terms offer a paltry rate of 0.10%.  The industry average for these term lengths is at least double the interest rate that Amegy Bank is offering.  In other words, avoid Amegy Bank when it comes to their CD accounts.  Read our post on Amegy Cd Accounts.

CD Rating