For the saver who wants the best rate of interest, but may not need the money right away, a Merchants Bank CD may be right for you.
We offer a variety of CDs with diverse terms and competitive interest rates. You can have your interest compounded to the account, periodically transferred to another Merchants deposit account or receive a periodic interest check.
A penalty may be imposed for withdrawals made prior to maturity.
Accounts require a minimum balance as little as $1,000. Interest is compounded daily and the rate paid is extremely competitive.
Accounts are for our larger depositors and require a minimum balance of $100,000. Our Jumbo CDs normally pay for a higher rate of interest than our regular CDs.
For more information on Certificates of Deposit, please contact us.