Amerant Bank CD rates of November 2023

Amerant Bank offers certificates of deposit (CDs) with terms between three and 60 months, although some terms are available only to Florida and Texas residents. Florida and Texas residents also qualify for the best rates, so if you live in one of those states, give Amerant Bank Certificates of Deposit a look. Residents of other states likely can find better CD offerings elsewhere.

Account details and annual percentage yields (APYs) are accurate as of November 14, 2023.

About Amerant Bank CDs

Amerant Bank offers fixed-rate CDs to residents of all 50 states, but Florida and Texas residents receive the most term options and the best rates. They can access Amerant Bank CDs at terms of three, six, nine, 12, 15, 24, 36, 48 and 60 months and rates as high as 5.35% APY (available until Nov. 30, 2023), while residents of other states can access terms of 12, 24, 36, 48 and 60 months and rates as high as 3.75% APY.

There are no monthly service fees, but you need at least $10,000 to open an account in person and $500 to open an account online in Florida and Texas. In other states, you need at least $10,000 to open an account. You must use new funds deposited into Amerant Bank to receive the advertised annual percentage yield (APY). 

To receive the higher promotional APYs available to them, Florida and Texas residents must deposit at least $10,000 and use funds from an external source.

How to get an Amerant Bank CD

You can get an Amerant CD online or at a bank branch in Texas or Florida. 

Amerant provides the following steps for opening an account online:

1. Start an online application.
2. Submit any required documentation.
3. Get approved and start saving. 

However, it appears you must contact the bank to begin the process. There are three separate “contact us” buttons for Florida residents, Texas residents and residents of other states. 

If you are a new customer, be prepared to provide the following:

• Personal information, including your name, email address, mailing address and phone number.
• Social Security number.
• Date of birth.
• Employment status.
• Deposit information, including your funding bank account login or routing and account number.

How much can you earn with an Amerant Bank CD?

You must be a resident of Florida or Texas to get the best rate on an Amerant Bank CD. Florida and Texas residents can earn a 5.35% APY on a 15-month CD. While that isn’t the best rate available — some banks pay up to 5.60% APY — it is competitive and well above the national average, which remains under 2.00% APY as of October 16, 2023, according to the Federal Deposit Insurance Corporation (FDIC).

Non-Florida and -Texas residents can access 12-, 24-, 36-, 48- and 60-month CDs, but the highest rate is 3.75% APY on a 12-month CD.

Use our CD calculator to see how much you can earn.

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How Amerant Bank CD rates compare

Florida and Texas residents can find some of the best CD rates in their states at Amerant Bank. Other regional banks may offer better rates on different term lengths — for example, you can earn 4.80% APY on a four-month CD Promo in Florida with a Fifth Third Bank Certificate of Deposit — but you’d be hard-pressed to find a bank paying more than the 5.35% APY that Amerant Bank’s 15-month CD offers. Woodforest National Bank Certificates of Deposit’s 13-month term offers 5.15% APY and Regions Bank Certificates of Deposit has a 14-month term that features only 4.90% APY.

That said, it can pay to shop around since Amerant’s best rates are limited to four term lengths for Florida and Texas residents. National banks may also offer more competitive rates. For example, you can get up to 5.50% APY on Barclays Online Certificates of Deposit.

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Other products Amerant Bank offers

In addition to CDs, Amerant offers the following personal banking products:

• Checking accounts: The bank offers three checking accounts, including one for students between the ages of 18 and 24 that has no monthly balance requirements. The minimum opening balance for these three accounts varies — so does the interest rate. A monthly service fee may apply and varies by account type.
• Amerant Personal Savings account: Amerant offers an interest-bearing savings account, which pays a 0.75% APY on balances of $25,000 or more. Smaller balances earn only 0.05% APY. You must keep at least $300 in the account or maintain $1 in a Checking, Interest Checking or Money Market Account on the last business day of the statement cycle to avoid the $5 monthly service fee.
• Money Market accounts: The Amerant Bank Money Market Account pays up to 0.15% APY and the Amerant Bank Relationship Money Market Account pays 5.25% APY on balances of $100 or greater. Both have $100 minimum opening balances. There is a $25 monthly service fee on the standard Money Market Account and $35 monthly service fee on the Relationship Money Market Account. Only the standard Money Market Account’s monthly service fee can be waived by meeting certain minimum balance requirements.
• Mortgages: Amerant Bank offers Fixed-Rate, Conforming, Government and Jumbo Mortgage Loans for customers who want to purchase or refinance a home. Government Loans include Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) Loans. Jumbo Loans can be obtained for up to $5 million. The bank also offers Construction to Perm Loans, Non-Warrantable Condo Loans, Investment Property Financing, and down payment assistance for first-time homebuyers, veterans and “community heroes.”
• Personal Loans: You can get a variety of personal loans from Amerant Bank, including Home Equity Lines of Credit, Unsecured Lines of Credit, New Vehicle Loans, Pre-Owned Vehicle Loans, Secured Loans and Unsecured Loans. Terms and loan limits vary by product.
• Credit Cards: Amerant Bank offers two credit cards. The Amerant Bank Maximum Rewards® Visa Signature® Card gives 1.5% unlimited cash back or points on every purchase with no annual fee. The Amerant Bank Secured Visa® Card is designed for people trying to build or repair their credit. With it, you deposit $300 to $5,000 to use as a line of credit, which you earn back by making on-time payments. The card has a $35 annual fee.
• Investing: You can also invest with Amerant Bank. It offers self-directed Brokerage Services, prebuilt portfolios for stock and fixed-income investors, and personal advisory services. Its Smart Portfolio is similar to a robo-advisor. There is no advisory fee your first year.

Amerant Bank review

Amerant Bank is not accredited with the Better Business Bureau (BBB). The BBB has received nine complaints against Amerant in the past three years, three of which were closed in the past 12 months. Four complaints remain unanswered on the BBB website.

Amerant Bank has only one review on Trustpilot for a rating of 3.2 out of 5 stars. The review highlights an inability to use the mobile app or log in to the website to view the customer’s account and unhelpful customer service. No complaints have been filed against Amerant with the Consumer Financial Protection Bureau in the past 12 years.