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.
Current customers can apply within Online Banking, by clicking on “Open an Account” in the top right hand corner of the screen.