CD Rates in Texas for June 2026
Updated June 9, 2026
Written by
- • Consumer banking
- • Savings accounts
Edited by
- • Certified Financial Education Instructor (CFEI®)
- • Personal finance
- • Savings accounts
Texas residents looking to build up their savings might find a certificate of deposit (CD) to be a good investment right now, as long as you don’t mind locking away your money for a while. Many banks are still offering historically high yields on CDs (for the current rate cycle). You just need to find the bank and the CD that meets your financial goals.
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How to compare CD rates in Texas
When comparing CDs, consider the following four factors.
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Term length
The most common CD terms range from six months to five years but you can find shorter and longer terms. The term that’s right for you depends on your financial goals and how long you can comfortably keep your money locked away. In general, shorter-term CDs offer flexibility but longer-term CDs offer bigger gains.
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Yield
Your CD’s annual percentage yield (APY) is how much interest you’ll earn on your money (and it's locked in for the whole term with traditional CDs). You’ll often find the highest yields at online banks or credit unions. The higher the yield, the more interest you’ll earn.
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Minimum deposit
Many institutions will ask for $500 or $1,000 as a minimum deposit for a CD but you can find lower requirements. This minimum is especially important if you want to open multiple CDs or make a CD ladder.
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Early withdrawal penalty
The early withdrawal penalty is what you’ll be paying if you pull your money out before the term is up. These differ by bank and by CD term. For example, you might have to forfeit six months' worth of interest for withdrawing from a one-year CD early or 18 months’ worth of interest from a five-year CD.
Consider a no-penalty CD if you’re really not sure about when you’ll need your money. These CDs allow you to withdraw your full balance after an initial holding period (typically seven days) but they’ll likely pay a lower rate than their traditional CD counterpart.
Don’t forget to look at credit unions
While you’ll often find the highest rates at online banks, you shouldn’t overlook your local credit union. Since credit unions are nonprofit institutions, they pass on profits to their members, not shareholders, in the form of higher savings rates.
The National Credit Union Administration (NCUA) has a credit union finder tool you can use to locate credit unions in your area. Most credit unions have specific membership requirements, often based on where you live, study or work so you’ll have to check the rules and make sure you qualify to become a member. And note that many credit unions call their CDs share certificates or just certificates.
There are too many local credit unions for Bankrate to be able to review them all so you’ll have to do your own searching. To get you started, here are the three biggest credit unions in Texas, by membership size, as of the fourth quarter of 2025:
How to decide whether you want a long- or short-term CD
The decision for how long to lock up your money depends on when you’ll need it.
If you can comfortably live without a sum for a while, a long-term CD is a good option since they lock in a high yield even if banks slash rates down the road. Plus the longer you leave your money deposited, the more interest you’ll earn, even if the rate offered is lower than what’s available on a short-term CD.
But a short-term CD will give you more flexibility with your funds since they’ll become unlocked earlier. And the early withdrawal penalty is likely to be lower.
Before committing your funds, check in on your financial goals and timeline and do the math with Bankrate’s CD calculator to see what your deposit will earn with different terms and rates.
Next steps for taking out a CD in Texas
Compare Bankrate’s best CD rates
See the best nationally available rates
Check out CD rates at credit unions
Compare the best CD rates at credit unions that Bankrate reviews and check if you’re eligible to join
Calculate your potential earnings
Check what you can earn with different deposits, rates and terms
Have a CD strategy
Learn how to invest in CDs
Research methodology
Since 1976, Bankrate has been a leading publisher of rates and personal finance articles. We help our readers make smarter financial decisions, adhering to strict principles of editorial integrity and transparency.
Part of Bankrate’s editorial team is made up of a group of banking experts. These experts have collectively researched over 100 banks and review current details at least monthly to make sure readers stay up to date on the latest rates and bank products. If you see a star rating next to a product, that has been established by one of our banking experts, and is not influenced by partner status.
Note: Bankrate doesn’t include callable CDs or brokered CDs on this page and compares regular CDs and no-penalty CDs separately.
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Banks shown on page are a combination of partners and a selection of banks monitored by Bankrate. Sorting is based on the highest APYs with a $25,000 balance. Minimum balance requirements and then alphabetical order help break ties between banks and credit unions. Here's how we make money and here is our advertiser disclosure.