Amerant Bank is a community bank headquartered in Coral Gables, Florida with 17 locations throughout the state of Florida and 6 locations in Texas.

Despite being a small bank with locations in just 2 states they do offer CDs (certificates of deposit) to consumers online throughout the country. That said, their most competitive rates are only available to residents of Florida and Texas.

📌 Please Note: All of Amerant Bank’s CD rates shown below only apply to new funds deposited into Amerant Bank.

To see if Amerant Bank’s CDs might be right for you, continue reading our review below.

Amerant Bank CD Rates + Account Details

Amerant Bank segments their CD rates into two groups. CD rates for residents of Florida and Texas and CD rates available to residents in all other states.

All CDs, regardless of where you live, require a steep minimum deposit requirement of $10,000 to open and a maximum deposit limit of $500,000 per customer.

Amerant Bank is member FDIC and all deposit accounts are federally insured up to the applicable limits.

 CD Rates (Florida and Texas Residents Only)

To put these rates into perspective, the current national average for a 12 month and a 60 month CD sit at 1.76% and 1.41% APY, respectively, according to FDIC data, with top yields from online banks hovering around 5.50% and 4.50% APY for the same respective terms.

CD Rates (All Other States)

How Do Amerant Bank’s CD Rates Compare?

To get a better idea of how Amerant Bank’s CD rates stack up against the competition, take a look at the table below. It compares Amerant Bank’s most competitive CD rate with other competitive CD rates offered by various FDIC-insured institutions.

📌 Related: See how Amerant Bank’s CD rates compare to the best CD rates in Texas and Florida to get a better idea of how competitive they are for those regions.

How Much Can You Earn with an Amerant Bank CD?

How much money you can earn with a CD from Amerant Bank is going to depend on if you live in Texas or Florida vs any other state, along with the term you choose, the going APY (annual percentage yield) and your deposit size. Below is a table showing an example of how much money you’d earn with some of Amerant Bank’s CDs assuming a one-time deposit of $10,000 and a Florida or Texas residency.

Grace Period and Early Withdrawal Fees

Upon the maturity of your Amerant Bank CD, you will be provided a 10-day grace period in which you may modify your CD (either by term or deposit size) or close it out entirely without facing any early withdrawal fees.

If nothing is done during this grace period, your Amerant Bank CD will automatically renew with the same term and the going APY at that time.

If you need access to your funds prior to your CD’s maturity you will face an early withdrawal fee. Their fees are on par with most banks around the country. See below.

Early Withdrawal Fees

• For early withdrawal from a CD with a term of less than three months, you will pay a penalty fee equal to the total interest earned at the time of withdrawal.
• For early withdrawal from a CD with a term of between three and 12 months, you will pay a penalty fee equal to 90 days’ interest.
• For early withdrawal from a CD with a term of between 12 and 60 months, you will pay a penalty fee equal to 180 days’ interest.
• For early withdrawal from a CD with a term of longer than 60 months, you will pay a penalty fee equal to 365 days’ interest.

Compounding and Crediting Interest

The interest on all Amerant Bank CDs is compounded monthly and credited back to the CD monthly. You may not elect to have interest payments directed to another account at this time.

How to Open and Fund Your CD

Opening a CD with Amerant Bank can be done online regardless of location. To get started, navigate here and select your residency. Once the application process begins, you’ll want to be prepared with the following:

Personal Information – Name, Verifiable Email address, Phone Number, and Home Address.

Identity Verification – Social Security Card (number), Date of Birth and Employment Status.

To fund your Amerant Bank CD, you’ll need:

• Routing number of current bank
• Bank account number where funds will be withdrawn from

OR

• Debit Card (number, expiration, CSC)
• Credit Card (number, expiration, CSC)

Amerant Bank Reviews and Customer Sentiment

From a consumer perspective, Amerant Bank seems to fall a bit short. They have a D- rating with the Better Business Bureau with 8 customer complaints in the past 3 years. This kind of rating can mean a number of things but generally indicates that a company falls short of the Bureau’s expectations for ethical, honest, and reasonable communication and/or treatment of customers.

We should note that there is only 1 unanswered complaint filed this year and, in general, it’s still always possible for great banks to have poor BBB ratings and vice versa.