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Arvest Bank CDs, something referred to as "Time Accounts," have competitive rates with terms ranging from three months to five years. Most of its CDs have to be opened in-person at an Arvest Bank location, but it does display a range of APYs online for its 6-month, 1-year, and 2-year CDs. The APY you're eligible for will depend on the amount of your deposit. Below we'll delve deeper into Arvest Bank CD rates and see if they might be a lucrative investment for you.
APY = Annual Percentage Yield
Arvest Bank CDs, otherwise known as "Time Accounts," are available at competitive rates in terms of 31 days to five years. The exact APY you're eligible for depends on your CD balance. For more information, consumers may call Arvest Bank or visit a local branch.
6 Mo. APY | 1 Yr. APY | 2 Yr. APY |
---|---|---|
Up to 5.05% | Up to 4.80% | Up to 4.30% |
While Arvest Bank CD rates are decently competitive, they're not the best we've seen. For comparison, here's how Arvest Bank stacks up against the best CDs.
Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
---|---|---|---|---|
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | ||
APY: 5.15% | Term: 9 Months | Min. Deposit: $1 | ||
Member FDIC.
| APY: 4.75% | Term: 1 Year | Min. Deposit: $500 |
If you want to earn at a fixed annual percentage rate (APY), Arvest Bank CDs might be right for you. While it doesn't advertise all its certificates of deposit (CDs) online, it does give general details about its CDs that likely apply to most of its products. With that in mind, let's take a peek at what the bank has to offer.
Arvest Bank CDs require a $1,000 minimum opening deposit and come in a variety of terms, ranging from 31 days to five years. As far as APYs goes, Arvest Bank CDs have tiered rates, with higher deposits snagging a slightly higher APY.
Even the highest tiers on these CDs are still lower than the best CD rates for each respective term. To see the difference for yourself, check out the highest-paying CDs for these three terms below.
Arvest Bank CDs might be right for you if you already bank at Arvest and want to keep all your deposit accounts in one place. However, since Arvest Bank doesn't have the most competitive APYs for its CDs, it's probably not the right bank for you if you're trying to earn the most interest for your savings.
APY = Annual Percentage Yield
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
Learn more about how The Motley Fool Ascent rates bank accounts.
Currently, you can find Arvest Bank locations in Arkansas, Kansas, Missouri, and Oklahoma.
Arvest Bank will credit any interest you earn on your CD every quarter. You can withdraw this interest, but it might reduce your total earnings.
No, it doesn't. While its CD rates are competitive, other banks and financial institutions currently offer higher APYs for similar terms.
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