Amerant Bank offers six terms of CDs that are available to savers in all 50 states, although rates and products differ slightly for Florida and Texas residents. If you live in either of those states, you can open a CD in a banking center or online. Outside of Texas and Florida, CDs can only be opened online.
Early withdrawal penalties apply. For example, for residents of states besides Texas and Florida, the penalty is equal to 180 days’ interest on the amount withdrawn, based on the simple interest rate tied to the account.
There are no specialty CDs available, such as no-penalty or step-up CDs.
There’s a high minimum deposit of $10,000 to open a CD.