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Steven is a personal finance writer covering topics from mortgages to credit cards to market news. He has written for The Motley Fool Canada, Ramsey Solutions, Nerdwallet, Clever Real Estate, and other major outlets. Steven launched his writing career at the age of four with his first book, "Revenge of the Bad Guys." He currently lives in Portland, Oregon.
Cole Tretheway is a full-time personal finance writer whose articles have been featured on The Ascent and The Motley Fool. He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO.
Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.
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APY = Annual Percentage Yield. APYs are subject to change at any time without notice.
Arvest Bank CD rates are some of the best in the business. High rates and short terms make Arvest Bank CDs ideal for short-term savers with at least $1,000 to invest. Keep reading to find out what an Arvest Bank CD can do for you, and whether it's a smart place to put your money.
Arvest Bank CD rates for 2024
Rates as of Aug. 20, 2024
APY = Annual Percentage Yield
Arvest Bank CD
Bottom Line
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.
Is a high-yield savings account a better option for you?
A high-interest savings account offers rates competitive with the best CDs accounts, but without having to lock your money away for months or even years at a time. Here are some top-rated high-yield savings account options from our experts.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
up to 4.60%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
4.25%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
4.25%
Rate info
4.25% annual percentage yield as of August 24, 2024
Arvest Bank CD rates are some of the most competitive out there for short-term CDs. The bank advertises its best rates when you invest at least $95,000.
You can earn above-average CD rates if you have at least $1,000 to invest. Arvest Bank offers a variety of term lengths. For details about your CD's early withdrawal fees, you must call Arvest Bank.
Minimum Deposit
$1,000
Range of Term Lengths
31 days to 5 years
Compounding Schedule
Quarterly
Early Withdrawal Penalty
Call for details
Grace Period
10 days
Data source: Arvest Bank.
Arvest Bank CD pros and cons
Arvest Bank combines great rates with potentially difficult minimum deposits. Arvest Bank doesn't publish all its rates online. So, to see all available CD terms, you'll want to visit a local branch or call a bank rep.
Pros
Competitive CD rates
Branches available
Cons
$1,000 minimum deposit required
Not all CD rates disclosed online
How much can you earn with an Arvest Bank CD?
Rates change, but you can lock in great rates by opening a CD. Here's a table illustrating what potential earnings could look like if you deposited $1,000 into an Arvest Bank CD.
The numbers in the table below may not be accurate to current APYs and are for example purposes only.
Term
APY
Earnings
6 months
5.00%
$25.16
1 year
4.75%
$48.35
2 years
4.25%
$88.23
Data source: Author's calculations.
Arvest Bank offers more CD terms than those listed above. Arvest Bank doesn't discuss these online and asks that you call a bank representative for details.
Is an Arvest Bank CD safe?
Arvest Bank CDs are safe places to put your money. Arvest Bank is a member of the FDIC, so your CD accounts are protected for up to $250,000. If Arvest Bank goes bankrupt, the FDIC has your back.
How to open an Arvest Bank CD
You can open an Arvest Bank CD in person or remotely. Here are more details on your options.
1. Visit your local Arvest Bank branch
Arvest Bank has branches in Arkansas, Kansas, Missouri, and Oklahoma. Have your Social Security number and personal info ready. Also, have your bank account numbers ready to open an account. You will need $1,000 minimum to open a CD.
2. Call a representative at 855-316-5232
To open a CD account remotely, you can call a representative. They can provide unlisted rates. Have your Social Security number, personal details, and bank account numbers ready. You'll need at least $1,000 to open a CD.
Who is an Arvest Bank CD right for?
An Arvest Bank CD is right for folks who live close to local branches and have at least $1,000 to invest in a short-term CD. Open a CD with Arvest Bank if you're comfortable speaking to banking representatives.
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.
$1,000 is the minimum you need to open a CD with Arvest Bank.
You pay early withdrawal fees for withdrawing money from a CD before the term expires. You must call an Arvest Bank representative for your CD's fee details. A typical early withdrawal fee is 90 to 180 days of simple interest, depending on the term length.
Yes, but you may pay early withdrawal fees.
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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
SLM is an advertising partner of The Ascent, a Motley Fool company. Ally is an advertising partner of The Ascent, a Motley Fool company. Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Charles Schwab is an advertising partner of The Ascent, a Motley Fool company. American Express is an advertising partner of The Ascent, a Motley Fool company. Synchrony Financial is an advertising partner of The Ascent, a Motley Fool company. Citigroup is an advertising partner of The Ascent, a Motley Fool company. Cole Tretheway has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Charles Schwab, Goldman Sachs Group, PNC Financial Services, and Target. The Motley Fool recommends Barclays Plc and Discover Financial Services and recommends the following options: short September 2024 $77.50 calls on Charles Schwab. The Motley Fool has a disclosure policy.
The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
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Ashley Maready
