Amegy Bank Reviews: Checking, Savings, CD, Money Market and IRA Accounts

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

Written By

Updated on Tuesday, December 1, 2020

Amegy Bank’s checking account options

OnBudget Banking

This checking account doesn’t actually let you write checks or earn interest, but it does come with zero overdraft fees.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $5 if you’re 26 or older. $4 if you’re 25 or younger. If you want paper statements, there’ll be another $2 monthly fee.
  • ATM fee: $2.50 per transaction, and $2 per balance inquiry at non-Amegy-Bank ATMs. If you use your card abroad, there’ll be a 3% foreign transaction fee for ATM withdrawals and debit card purchases.
  • ATM fee refund: none
  • Overdraft fee: none, although all charges will be declined if they will overdraw your account. Alternatively, you can set up an overdraft line of credit or a backup overdraft account to pay overdraft charges. This will cost you $7.50 per transfer, but only if your account is overdrawn by $10 or more.

This account is probably best for folks who have a hard time qualifying for a normal checking account and/or who overdraft their account frequently.

To see why, consider this: you’ll have to pay a $4 to $7 monthly fee with this account, and there is no way to avoid it like with all of Amegy Bank’s other checking accounts. Once open, you can’t even use the account to write paper checks, or the online Bill Pay feature, either — meaning you’re left with just using your debit card, ACH transfers, or the Zelle payment system.

All of those things sound like bad consumer banking policies (and they are), but on the flipside, this account doesn’t charge any overdraft fees. That sounds nice, but the bank also won’t pay overdraft charges, meaning you could find yourself in an embarrassing situation with a declined purchase. You’ll still have the ability to link up an overdraft account or a backup savings or money market account to pay for these charges (only if they overdraw your account by $10 or more), but there will be a charge for this as well: $7.50 per transfer.

How to get Amegy Bank’s OnBudget Banking account

If you’re at least 18 years old and have a Social Security Number, you can open this account. You’ll also need to visit the bank in person to open an account, since there isn’t an option to apply for this account online (you can apply for others online; just not this one).

SEE DETAILS Secured

on Amegy Bank’s secure website

Anytime Checking

Amegy Bank’s standard non-interest-bearing checking account comes with a monthly fee, but it is possible to get it waived.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $6, unless you meet the requirements to have the fee waived. If you want paper statements, that’ll be another $2 per month.
  • ATM fee: $2.50 per transaction, and $2 per balance inquiry at non-Amegy-Bank ATMs. If you use your card abroad, there’ll be a 3% foreign transaction fee for ATM withdrawals and debit card purchases.
  • ATM fee refund: none
  • Overdraft fee: $35 per item (up to five items per day) if it overdraws your account by $5 or more. If it stays overdrawn for five days or more, you’ll owe another $5 per day for up to 30 days. If you link up a line of credit or a backup account, you’ll pay $7.50 per transfer if your account is overdrawn by $10 or more.

If you’d rather be able to write checks, use Online Bill Pay, and be able to waive the monthly fee, this Amegy Bank account might be better for you. The monthly fee is higher — $6 — but you can get it waived if you meet one of the following criteria each month:

  • A direct deposit of at least $250
  • 10 Amegy Bank credit or debit card purchases
  • Be age 25 or younger

This account also does not come with interest, and you will have to pay the full suite of overdraft fees with this account when you overdraft your account.

How to get Amegy Bank’s Anytime Checking account

You can apply for this account online as long as you have a Social Security Number and are at least 18 years old. You’ll need to provide your current bank account number to fund the account, and sign and return a signature card to officially open the account.

SEE DETAILS Secured

on Amegy Bank’s secure website

Anytime Interest Checking

You can earn interest and one ATM fee waiver per month with this checking account, but watch out for the monthly fee.
APYMinimum Balance to Earn APY
0%
$0.01
0%
$1,000
0%
$2,500
0%
$5,000
0%
$25,000
0.01%
$100,000
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $10 if you don’t meet the monthly requirements to waive the fee.
  • ATM fee: $2.50 per transaction, and $2 per balance inquiry at non-Amegy-Bank ATMs. If you use your card abroad, there’ll be a 3% foreign transaction fee for ATM withdrawals and debit card purchases.
  • ATM fee refund: One Amegy Bank ATM fee refund per month (not including the surcharge fee from the ATM’s owner).
  • Overdraft fee: $35 per item (up to five items per day) if it overdraws your account by $5 or more. If it stays overdrawn for five days or more, you’ll owe another $5 per day for up to 30 days. If you link up a line of credit or a backup account, you’ll pay $7.50 per transfer if your account is overdrawn by $10 or more.

Amegy Bank offers two different interest-bearing accounts, each of which charge a monthly fee (but also come with ways to waive that fee). By far, this account is the easiest one for most people to keep, since there are two relatively simple ways to get the monthly fee waived:

  • Keep at least $1,500 in the account
  • Keep at least $10,000 across all of your Amegy Bank deposit and personal loan accounts

You’ll still earn interest even if you do end up paying the monthly fee. You’ll also get one Amegy Bank ATM fee refund per month. They won’t refund any ATM surcharge fees, however. The bank also will toss in a free first order of checks (as long as they’re basic checks). If you want designer checks, you’ll get 30% off your first order.

How to get Amegy Bank’s Anytime Interest checking account

You can apply for this account at a local Amegy Bank branch, or by applying online. You’ll need to be at least 18 years old, have a Social Security Number, and your current bank’s routing information to transfer money into your new account. If you open the account online, you’ll also need to sign and return a signature card to finish opening your account.

SEE DETAILS Secured

on Amegy Bank’s secure website

Member FDIC

Premium Interest Checking

Even though this account has steep monthly requirements, it still doesn’t offer that great of interest.
APYMinimum Balance to Earn APY
0%
$0.01
0%
$1,000
0%
$2,500
0.01%
$5,000
0.01%
$25,000
0.01%
$100,000
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: $25 unless you meet the requirements to waive the fee, plus another $2 if you want monthly paper statements
  • ATM fee: $2.50 per transaction, and $2 per balance inquiry at non-Amegy-Bank ATMs. If you use your card abroad, there’ll be a 3% foreign transaction fee for ATM withdrawals and debit card purchases.
  • ATM fee refund: Three Amegy Bank ATM fee refunds per month (even including ATM surcharge fees).
  • Overdraft fee: $35 per item (up to five items per day) if it overdraws your account by $5 or more. If it stays overdrawn for five days or more, you’ll owe another $5 per day for up to 30 days. If you link up a line of credit or a backup overdraft protection account, there won’t be any overdraft transfer fees with this particular account.

This account still doesn’t earn very good interest rates, but they are the highest interest rates out of any checking accounts that Amegy Bank offers. In order to get the most from this account though, you’ll have to navigate past a very high $25 monthly fee. You can get the fee waived if you meet at least one of these criteria each month:

  • Keep at least $10,000 in your account
  • Keep at least $25,000 across all of your Amegy Bank deposit and personal loan accounts

This account also comes with a smattering of random banking perks. You’ll get three out-of-network ATM fee refunds (including the ATM surcharge fee) per month. Amegy Bank will give you free basic checks for life (or 30% off designer checks).

You’ll also get free cashier’s checks, one free incoming wire transfer per month, and you won’t pay any overdraft transfer fees. Finally, any monthly fees will also be waived on linked money market and savings accounts you have, and you’ll earn premium rates on other deposit accounts. Amegy Bank doesn’t disclose what these “premium rates” are, so you’ll have to contact the bank to get the most current rate information if you have this account.

How to get Amegy Bank’s Premium Interest Checking account

You have two options for opening this account: you can do it online, or at a local branch. If doing it online, you’ll need to fill out and return a signature card to finish the application process. You’ll also need to provide Amegy Bank with a few details on your application, such as your name, Social Security Number, and your current bank account’s routing information.

SEE DETAILS Secured

on Amegy Bank’s secure website

Member FDIC

Advantage Checking

This is Amegy Bank’s only monthly-fee-free checking account, and only available to seniors, military members, and WorkLife Banking clients.
  • Minimum opening deposit: $50
  • Monthly account maintenance fee: none
  • ATM fee: $2.50 per transaction, and $2 per balance inquiry at non-Amegy-Bank ATMs. If you use your card abroad, there’ll be a 3% foreign transaction fee for ATM withdrawals and debit card purchases.
  • ATM fee refund: Three Amegy Bank ATM fee refunds per month (even including ATM surcharge fees).
  • Overdraft fee: $35 per item (up to five items per day) if it overdraws your account by $5 or more. If it stays overdrawn for five days or more, you’ll owe another $5 per day for up to 30 days. If you link up a line of credit or a backup account, you’ll pay $7.50 per transfer if your account is overdrawn by $10 or more.

If you’re a senior aged 62 years or older, an active military member or a veteran, or you’re enrolled in Amegy Bank’s WorkLife Banking business banking account, you’re eligible for this free checking account. If you’re a WorkLife Banking customer and you want monthly paper statements, however, you’ll need to pay a $2 monthly fee.

This account also doesn’t offer any interest, but it does give you a few other things. You’ll get three ATM fee refunds per month if you use an out-of-network ATM (Amegy Bank will even refund the ATM surcharge fee charged by the ATM’s owner). You’ll also get free basic-style checks for the life of the account, or a 30% discount on designer checks.

How to get Amegy Bank’s Advantage Checking account

Here’s another account that you must open at a branch, since an online application doesn’t exist for this particular account. You’ll need to have a Social Security Number and be at least 18 years old to open this account.

SEE DETAILS Secured

on Amegy Bank’s secure website

magnifying glass

How Amegy Bank’s checking accounts compare

Regional banks like Amegy Bank like to tout how consumer-friendly and fair they are compared to the big nationwide banks. But in reality, most of these banks have fee structures that are just as pricey and confusing as their larger counterparts — Amegy Bank is no exception to that rule.

Four out of five of Amegy Bank’s checking accounts come with high monthly fees. The overdraft policies on these accounts can quickly drain you of any money you might have left elsewhere, if you’re not careful. Unless you avoid ATMs entirely, it’ll be hard to avoid paying a lot of ATM fees too, since the bank charges high fees for out-of-network ATM use, and frankly doesn’t have that many in-network ATMs.

Only two of these accounts offer any interest at all, and they’re pretty poor rates at that. Instead, we recommend skipping Amegy Bank’s checking accounts for these top online checking accounts. They offer a much better fee structure, and come with high interest rates to match.

Amegy Bank’s savings account options

Savings

Features of this account include a very low interest rate and a monthly fee.
APYMinimum Balance to Earn APY
0%
$0.01
0%
$1,000
0%
$5,000
0%
$25,000
0.01%
$50,000
0.01%
$100,000
  • Minimum opening deposit: $50
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: $4, unless you meet the requirements to waive the fee
  • ATM fee: $2.50 per transaction, and $2 per balance inquiry at non-Amegy-Bank ATMs. If you use your card abroad, there’ll be a 3% foreign transaction fee for ATM withdrawals and debit card purchases.
  • ATM fee refund: none
  • Overdraft fee: $35 per item (up to five items per day) if it overdraws your account by $5 or more. If it stays overdrawn for five days or more, you’ll owe another $5 per day for up to 30 days. If you link up a line of credit or a backup overdraft protection account, there won’t be any overdraft transfer fees with this particular account.

There’s only one Savings account for adults to choose at Amegy Bank, and this is it. Like its interest-bearing checking accounts, this one offers a six-tier schedule of rates (even though the first four tiers are currently the same rate — ultra low).

This savings account also comes with a monthly fee (yep, you read that right — a fee to store your savings). There are two ways you can qualify each month to have it waived:

  • Keep at least $200 in the account
  • Set up recurring monthly transfers of at least $25 from your checking account into this savings account

Federal Regulation D limits all savings and money market accounts up to six certain withdrawals per month. A few withdrawal types don’t count, including withdrawals made by ATM, by mail, or in person at a branch. If you exceed the six-withdrawal limit by the other methods, you’ll owe a $5 excessive withdrawal fee. If you do this more than three times in a year, Amegy Bank will close or restructure your account.

How to get Amegy Bank’s Savings account

You can easily apply for this account online or at a local Amegy Bank branch, if you live in Texas. You’ll need to provide a few details about yourself on the application, such as your Social Security Number, your current bank routing information (to make an opening deposit), an email address, etc… If you’re opening the account remotely, you’ll also need to sign and send in a signature card.

SEE DETAILS Secured

on Amegy Bank’s secure website

Member FDIC

Young Savers

This monthly-fee-free account is available to young adults aged 25 and under.
APYMinimum Balance to Earn APY
0.01%
$0.01
0.01%
$100
0.01%
$500
0.01%
$1,000
0.01%
$10,000
0.01%
$50,000
  • Minimum opening deposit: $5
  • Minimum balance to earn APY: $0.01
  • Monthly account maintenance fee: none
  • ATM fee: $2.50 per transaction, and $2 per balance inquiry at non-Amegy-Bank ATMs. If you use your card abroad, there’ll be a 3% foreign transaction fee for ATM withdrawals and debit card purchases.
  • ATM fee refund: none
  • Overdraft fee: $35 per item (up to five items per day) if it overdraws your account by $5 or more. If it stays overdrawn for five days or more, you’ll owe another $5 per day for up to 30 days. If you link up a line of credit or a backup overdraft protection account, there won’t be any overdraft transfer fees with this particular account.

This young adults’ savings account offers some of the most consumer-friendly policies you’ll see at Amegy Bank. It only takes a small $5 deposit to get started, and there are no monthly maintenance fees to worry about.

Young adults also receive the highest tier-level interest rate offered on savings accounts, but across their entire balance (even if they have just a penny in the account). To qualify for this account, you’ll need to be under 25 years of age. Once you hit age 26, this account will automatically turn into a regular Savings account (complete with monthly fees and everything).

Since this is a savings account, you’re allowed up to six certain withdrawals per month according to federal Regulation D. If you exceed that, you’ll be hit with a $5 per-withdrawal penalty, and if you go over that more than three times in a year, the account will be closed or converted into a different type. Withdrawals made by mail, in person, or via ATM don’t count towards this six-withdrawal limit.

How to get Amegy Bank’s Young Savers account

Even though this is an account for young people, you’ll still need to be at least 18 years old to open this account — in other words, it’s not a kids’ or teens’ savings account. If you fit that bill, you can apply for this account online or at a local branch.

SEE DETAILS Secured

on Amegy Bank’s secure website

Member FDIC

magnifying glass

How Amegy Bank’s savings accounts compare

There’s no bones about it: the rates offered on Amegy Bank’s savings accounts are ultra-low. In fact, you can earn interest rates at least ten times higher with one of these online savings accounts instead.

We also don’t like that there’s no good option for a kids’ or teens’ savings account. “Young Saver” is a bit misleading if it only applies to people aged 18-25. That’s still young (at least for people over age 26), but not quite what you think of when you hear the words “young saver.”

We also don’t like that the regular Savings account charges a monthly fee. Saving money with a bank helps its bottom line; that’s why most banks encourage deposits by not charging you a fee to store your money there. Amegy Bank apparently feels differently.

Amegy Bank’s CD rates

Personal CD

These CDs don’t offer very good rates compared to Amegy Bank’s top competitors.
TermAPY
7 days0.15%
1 month0.01%
3 months0.01%
6 months0.01%
9 months0.03%
12 months0.03%
18 months0.03%
24 months0.03%
36 months0.05%
48 months0.05%
60 months0.05%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: This will depend on your CD’s term length:
    • For the 7-day and 1-month CDs, you’ll forfeit all interest earned
    • For CDs from 3 months to 12 months, you’ll pay 90 days’ worth of interest
    • For CDs over 12 months, you’ll pay 180 days’ worth of interest

If you don’t mind locking up your money for a potentially long period of time, these CDs offer some the highest rates you can get at Amegy Bank. Oddly enough, Amegy Bank allows you to choose when your interest payments are credited to the CD: you can choose to have it credited monthly or annually (if your CD lasts 12 months or longer). By default, however, interest will be credited when the CD matures for CDs 12 months and under, or quarterly for CDs longer than 12 months.

You can withdraw interest at any time as well without having to pay a penalty. However, this may reduce your earnings, though, since Amegy Bank assumes you’ll be leaving interest in the account to accrue even more interest when calculating your APY.

Amegy Bank will send you a notice before your CD matures to give you a heads-up. CDs will automatically renew for another term length, and you’ll have a 10-day grace period (3 days for the 7-day and 1-month CDs) where you can withdraw the money or make any other changes to the account without paying any penalties. After that, the CD will be locked in again for another term.

How to get Amegy Bank’s Personal CD

You can apply for this CD at an Amegy Bank branch or online. You’ll need to be at least 18 years old and have a valid Social Security Number. If you open the account online, Amegy Bank will also provide you with a signature card that you’ll need to return to open your account.

SEE DETAILS Secured

on Amegy Bank’s secure website

Member FDIC

Personal Jumbo CD

If you’ve got a spare $100,000 sitting around, you can earn rates that are just a smidge higher with one of these Personal Jumbo CDs.
TermAPY
7 days0.20%
1 month0.20%
3 months0.20%
6 months0.25%
9 months0.30%
12 months2.25%
18 months0.45%
24 months2.50%
36 months0.75%
48 months0.80%
60 months1.00%
  • Minimum opening deposit: $100,000
  • Minimum balance amount to earn APY: $100,000
  • Early withdrawal penalty: This will depend on your CD’s term length:
    • For the 7-day and 1-month CDs, you’ll forfeit all interest earned
    • For CDs from 3 months and 12 months, you’ll pay 90 days’ worth of interest
    • For CDs over 12 months, you’ll pay 180 days’ worth of interest

Amegy Bank’s Personal Jumbo CDs require a much larger deposit amount (at least $100,000) and earn rates that are slightly higher than the normal Personal CDs. But other than that, these CDs really aren’t all that different.

Interest on these CDs can be withdrawn early without paying a penalty, though this might lower your actual APY. You’ll receive a notice in the mail before your CD matures so that you can get ready to withdraw the money during the 10-day grace period (three days for CDs one month and under) after maturity, if you want. If you opt to do nothing, the CD will renew for another term length.

How to get Amegy Bank’s Personal Jumbo CDs

If you’ve got the cash to open this account (and the routing number for a bank account to provide the opening deposit), you can open the account online. You’ll need to be at least 18 years old and provide a Social Security Number. Alternatively, you can always open this CD at an Amegy Bank branch.

SEE DETAILS Secured

on Amegy Bank’s secure website

Member FDIC

magnifying glass

How Amegy Bank’s CD rates compare

First, the good news: Amegy Bank has comparatively cheap early withdrawal penalties. The maximum you’ll pay is 180 days’ worth of interest on the amount of principal (i.e., your starting deposit amount) you withdraw. Many other banks charge 365 days’ worth of interest or more for the longest-term CDs. So if you think that there’s a good likelihood that you’ll need to withdraw some money early, these might be good CDs to choose. Alternatively, you could just pick a more liquid account type, such as a money market account, or a high-yield savings account at another bank.

But as far as interest rates go, sadly, Amegy Bank isn’t that great. Its current rate for a five-year CD is very, very low — less than a third of what the top CDs are offering nowadays. If earning the highest interest rates on your CD is your priority, Amegy Bank isn’t the right one for you.

Amegy Bank’s money market account option

Money Market

This is the highest-earning liquid account at Amegy Bank.
APYMinimum Balance to Earn APY
0%
$1,000
0.01%
$5,000
0.01%
$25,000
0.02%
$100,000
0.02%
$250,000
  • Minimum opening deposit: $500
  • Minimum balance to earn APY: $1,000
  • Monthly account maintenance fee: $12 if your account balance falls below $1,000
  • ATM fee: $2.50 per transaction, and $2 per balance inquiry at non-Amegy-Bank ATMs. If you use your card abroad, there’ll be a 3% foreign transaction fee for ATM withdrawals and debit card purchases.
  • ATM fee refund: none
  • Overdraft fee: $35 per item (up to five items per day) if it overdraws your account by $5 or more. If it stays overdrawn for five days or more, you’ll owe another $5 per day for up to 30 days. If you link up a line of credit or a backup overdraft protection account, there won’t be any overdraft transfer fees with this particular account.

Amegy Bank’s Money Market account is best for people who have larger-size deposits available and want to earn higher interest rates, but also want to be able to access their money without paying any early withdrawal fees associated with CD accounts. You’ll need a larger deposit amount to start compared to the Savings account — $500 vs $50 — but you’ll start to earn slightly better rates once you reach the $25,000 threshold.

You can write checks with this account, but because it’s a money market account, you’re still allowed to make up to six certain withdrawals per month due to federal Regulation D rules. Withdrawals made in person, by mail, or at an ATM don’t count towards this limit. Amegy Bank will charge you a whopping $20 per withdrawal if you go over the six-withdrawal monthly limit, and if you do it enough (three times in a year, specifically), they may close or restructure your account.

How to get Amegy Bank’s Money Market account

You’ll need to be at least 18 years of age and possess a Social Security Number to open this account. You can open the account either online or in person. If opening it online, Amegy Bank will provide you with a form for your signature that you’ll need to return to the bank.

SEE DETAILS Secured

on Amegy Bank’s secure website

Member FDIC

magnifying glass

How Amegy Bank’s Money Market account compares

Amegy Bank does offer a tiered interest rate scheme, but even at the highest tiers, the bank still can’t compare to the rates that the best money market accounts are currently offering.

Furthermore, the bank only offers the highest-tier rate on balances above $250,000 — that’s above the limits for FDIC insurance. It would be wise to consider whether depositing more than that would be worth the trouble, especially since you could lose that money if Amegy Bank were ever to go under.

Amegy Bank’s IRA account options

Personal IRA CD

Amegy Bank’s IRA CDs are carbon copies of its regular Personal CDs.
TermAPY
7 days0.15%
1 month0.15%
3 months0.15%
6 months0.20%
9 months0.25%
12 months2.00%
18 months0.40%
24 months1.75%
36 months0.70%
48 months 0.75%
60 months1.00%
  • Minimum opening deposit: $1,000
  • Minimum balance amount to earn APY: $1,000
  • Early withdrawal penalty: This will depend on your CD’s term length:
    • For the 7-day and 1-month CDs, you’ll forfeit all interest earned
    • For CDs from 3 months and 12 months, you’ll pay 90 days’ worth of interest
    • For CDs over 12 months, you’ll pay 180 days’ worth of interest

You can save for your retirement at Amegy Bank with one of its IRA CDs. They’re basically the same thing as the Personal CDs, even right down to the same interest rates.

When your IRA CD finishes its term, Amegy Bank will automatically renew it. Since it’s a retirement investment you’ll probably want to just leave it in there to keep renewing until you need it. But should you want to withdraw the money or roll it over into another IRA account, you will get a brief 10-day grace period (or three days for CDs one month and under) after each auto-renewal to do so penalty-free. Otherwise, you’ll have to pay the early withdrawal penalty.

How to get Amegy Bank’s Personal IRA CDs

As long as you’re at least 18 years old, have a valid Social Security Number, and a bank account that can provide the opening deposit, you can open this account. There are two ways you can do so: online, or in person at a branch. Amegy Bank will send you a signature form if you opt to open the account online, which you’ll need to return to open your account.

SEE DETAILS Secured

on Amegy Bank’s secure website

Member FDIC

Personal Jumbo IRA CD

Again, these rates really aren’t all that impressive, especially for a retirement savings account.
TermAPY
7 days0.20%
1 month0.20%
3 months0.20%
6 months0.25%
9 months0.30%
12 months2.25%
18 months0.45%
24 months2.50%
36 months0.75%
48 months0.80%
60 months1.00%
  • Minimum opening deposit: $100,000
  • Minimum balance amount to earn APY: $100,000
  • Early withdrawal penalty: This will depend on your CD’s term length:
    • For the 7-day and 1-month CDs, you’ll forfeit all interest earned
    • For CDs from 3 months and 12 months, you’ll pay 90 days’ worth of interest
    • For CDs over 12 months, you’ll pay 180 days’ worth of interest

Hopefully you’ll be saving up quite a bit of money for retirement. If that’s the case, you may well have over $100,000, the minimum deposit size needed to open this IRA CD. You can earn slightly higher interest rates with this Jumbo IRA CD as opposed to a Personal IRA CD, but it’s not much more.

Like the rest of Amegy Bank’s CDs and IRA CDs, your Jumbo IRA CD will automatically renew once its term ends. The bank will send you a notice before this happens so you can get ready to take action, if you wish. After the IRA CD renews, there will be a brief 10-day period where you can withdraw the money or make any other changes to the IRA CD. If you have a 7-day or 1-month IRA CD, this window is cut a bit shorter, to just three days.

How to get Amegy Bank’s Jumbo IRA CD

This IRA CD can be opened at a local branch. You can also choose to open it online. If you do it online, you’ll need to send Amegy Bank back a signature form, which they’ll provide when you apply for an account.

SEE DETAILS Secured

on Amegy Bank’s secure website

Member FDIC

magnifying glass

How Amegy Bank’s IRA CD rates compare

IRA CDs offer an advantage over more traditional retirement investments like stocks and bonds because your savings are guaranteed by the FDIC for up to $250,000. The tradeoff, however, is you’ll potentially earn less money — and that’s especially true with this bank, given the rates that these IRA CDs offer.

Since most people aren’t saving enough as it is for retirement, it’s especially important to earn the highest interest rates to make the most of what money you do have saved. That’s why we recommend these IRA CD options instead.

Overall review of Amegy Bank’s banking products

If you happen to live near an Amegy Bank branch and prefer to do your banking in person, Amegy Bank might work for you. But for most other people, we recommend looking to other banks, and here’s why.

Amegy Bank has very complicated banking policies. The overdraft and ATM fee policies alone require an entire paragraph to write out. This makes it easier to confuse consumers like you, which means less money in your pocket and more in the bank’s.

All of this hassle might be worth it if Amegy Bank had good (or even decent) interest rates on its products — but, sadly, it doesn’t. You can find much better options for each account type, especially if you’re willing to do your banking online. That’s why we recommend skipping this bank for one that offers better rates and more consumer-friendly policies.