Frost Bank, based out of San Antonio, Texas and founded in 1868 is one of the 50 largest banks in the United States with 184 branches and financial centers in Texas and $48.6 billion in assets as of June 2023.
They offer a full suite of banking solutions to individuals and businesses but for the purpose of this review we will focus on their fixed rate CDs (certificates of deposit) available to consumers living in Texas that can stop by a local branch.
If you reside within their geographical footprint then you can take advantage of their competitive CD rates. To see if their CDs are right for you, continue reading below.
Frost Bank CD Rates + Account Details
Frost Bank is member FDIC and all of their deposit accounts are federally insured up to the applicable limits.
Frost Bank offers a different menu of CDs options based on your deposit size with a minimum deposit requirement of $1,000. Take a look at the tables below to see their rates.
CD Rates
📌 For deposits ranging from $1,000 to $99,999.99.
| CD Term | APY |
| 90 days | 4.35% |
| 180 days | 4.45% |
| 12 months | 4.27% |
| 24 months | 3.88% |
📌 For deposits ranging from $100,000 to $499,999.99.
| CD Term | APY |
| 14 days | 2.35% |
| 30 days | 2.40% |
| 60 days | 2.45% |
| 90 days | 4.82% |
| 180 days | 4.92% |
| 12 months | 4.74% |
| 24 months | 4.30% |
📌 For deposits $500,000 and over.
| CD Term | APY |
| 90 days | 5.25% |
To put these yields into perspective, the current national average for a 6 month CD and a 12 month CD sit at just 1.30% and 1.72% APY, respectively, according to FDIC data.
That said, some of the top CD rates offered by FDIC-insured online banks are now topping the 5.25% APY mark for both terms and without steep minimum deposit requirements.
How Do Frost Bank’s CD Rates Compare?
To see how Frost Bank’s CD rates compare to some of the best CD rates offered by other regional banks, take a look at the table below.
| Bank | Min. Deposit | Best CD Rate (APY) |
| Fifth Third Bank | $5,000 | 5.00% |
| Truist Bank | $1,000 | 5.00% |
| Washington Federal | $1,000 | 5.00% |
| Webster Bank | $1,000 | 5.00% |
| Frost Bank | $500,000 | 5.25% |
How Much Can You Make with a Frost Bank CD?
The amount of money you can earn with a Frost Bank CD is going to depend on your deposit size, the CD term you select and its going APY (annual percentage yield). Take a look at the table below which shows hypothetical earnings on a $100,000 deposit.
| CD Term | APY | Earnings |
| 90 days | 4.82% | $393.06 |
| 180 days | 4.92% | $2,430.46 |
| 12 months | 4.74% | $4,740.00 |
| 24 months | 4.30% | $8,784.90 |
Compounding and Crediting Interest Payments
Simple interest is applied and paid at maturity. You may elect to have interest paid out more frequently into another Frost account.
Grace Period and Early Withdrawal Fees
Frost Bank CDs automatically renew upon maturity with the same term and going APY at that time. If you’d like to have your funds transferred and not renewed into another CD, you’ll have to give the bank notice prior to maturity or within the 10 day grace period upon maturity in which you may modify your CD in any way or close it out entirely without facing any early withdrawal fees.
If you need access to the funds in your CD prior to its maturity you will face an early withdrawal fee. The fee structure is as follows:
- For CDs of 30 days or less, an amount equal to the interest earned on the withdrawn portion.
- For CDs between 30 days and 1 year, an amount equal to 30 days interest.
- For CDs 1 year or more, an amount equal to 90 days interest.
Additional CD Account Features
If you have a checking account with Frost Bank or are looking to open one, then the balance in your CD account can count towards your minimum balance required to avoid fees on the checking side. This applies to the following Frost checking accounts:
- Frost Personal Account,
- Frost Plus Account or
- Frost Premium Account
Frost Bank CD FAQs
Still have questions about Frost Bank CDs? See what other consumers are asking along with our questions below.
How Can I Open a Frost Bank CD? Can I Do it Online?
Unfortunately, you can not open a Frost Bank CD online. You will have to stop by a Frost Financial Center and open one with a representative.
Does Frost Bank Offer Business CDs?
Yes. Frost Bank offers CDs for businesses as well as individuals. The same APYs (annual percentage yields) and minimum deposit requirements apply. Learn more here.
Is Frost Bank FDIC Insured?
Yes. Frost Bank is member FDIC and all deposit accounts held with them are federally insured up to $250,000 per depositor.
Does Frost Bank Offer a Money Market Account?
Yes, but it’s not competitive at this time.
It comes with a steep minimum balance requirement of $15,000 to avoid a $15 monthly service charge plus the APYs (annual percentage yields) you earn only range between 2.15% and 3.75% APY depending on your balance amount. For context, some online banks are offering MMAs with yields over the 5.00% APY mark with much lower account requirements and no fees.
Does Frost Bank Offer a Savings Account?
Yes, but like their money market account it is not competitive. It comes with a $3.50 service charge if you don’t meet monthly requirements. The APY (annual percentage yield) is only 1.00% APY on all balances.
What is Frost Bank’s Routing Number?
Frost Bank’s routing number is 114000093.
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