Patriot Bank is offering a 3.5% APY 5 year CD with a minimum deposit of $1,000 and a maximum of $100,000. This offer is available to Texas residents. New money is required for this deal. You’re also allowed to increase the interest rate to the current rate being offered any time after 2 years which is a pretty cool feature. If the rate increases after two years, which you think it would have to with the low CD rates being offered, you can take advantage of the new rate. Of course the bank could decide to not keep a competitive 5 year CD rate in the future, so who knows.
There doesn’t appear to be an online banking option so you need to open an account in person. Branches of Patriot Bank are located in Dallas, Houston, Friendswood, Allen, Honey Grove and Mesquite, Texas.
Patriot Bank has a 3 out of 5 star soundness rating from bankrate and is FDIC insured. To visit their site click here.