* The Federal Deposit Insurance Corporation (FDIC) generally insures, with respect to each FDIC-insured institution, deposit accounts that are held in the same right and capacity up to the maximum amount set by federal law, currently $250,000. An account owner’s interest in the insurable balance of a College Savings Bank, a Division of NexBank SSB CD account is insured by the FDIC on a pass-through basis, together with any other deposit accounts the account owner holds at College Savings Bank, a Division of NexBank SSB, in the same right and capacity, up to the maximum amount.

College 529 Plans
2515 McKinney Avenue, Suite 1100
Dallas, Texas  75201

How do Fixed Rate CDs work?

Fixed Rate CDs earn a fixed rate for the entire term of the CD (1- and 3-years), determined at the time the CD is opened. The rate will appear on your deposit confirmation along with the annual percentage yield (APY). The minimum initial contribution is $250. Subsequent contributions are also $250. Additional contributions may not be made to existing CDs but may be made into an existing Account to purchase new CDs offered by College Savings Bank, a Division of NexBank SSB. If you do not intend to contribute $250 at one time, you may contribute $25 per month through direct deposits from your bank or brokerage account, or $25 per pay period using payroll deduction. Direct deposit contributions or payroll deductions are held in an Accumulator Account until the balance of your Account reaches $250. Once the funds reach the $250 level, they are used to purchase a Fixed Rate CD.