Bank · FDIC insured
Merchants Bank CD Rates
Merchants Bank’s best CD rate is 4.05% APY on a 3-year CD. Terms run from 3 months to 3 years. Rates checked October 5, 2026.
How Merchants Bank’s CD rates compare
Compared with banks and credit unions near Minneapolis, MN-WI, where Merchants Bank has the most branches. $10,000, best rate first.
This bank’s best
Merchants Bank
4.05%APY
- Term
- 36 months
- Minimum
- $500
- Earns on $10,000
- $1,265
Certificate of Deposit
Top rate
SouthPoint Financial Credit Union
9.00%APY
- Term
- 9 months
- Minimum
- —
- Earns on $10,000
- $668
2nd-highest rate
Woodlands National Bank
4.87%APY
- Term
- 60 months
- Minimum
- $1,000
- Earns on $10,000
- $2,684
Merchants Bank CD score
87
CD score
Higher than 77% of U.S. banks and credit unions
- 3–8 months3–8 mo3.55%
- 9–15 months9–15 mo3.75%
- 16–30 months16–30 mo3.95%
- 31–60 months31–60 mo4.05%
- QualifiedQualified4.05%
Each track runs from the lowest to the highest rate among U.S. banks and credit unions; the dot is this rate.Qualified: needs another account or monthly activity.
Where Merchants Bank ranks
By CD score, in each area where it has branches
Every rate
Current CD rates
Rates from the bank’s website. Earnings assume the rate doesn’t change.
Certificate of Deposit
Up to 4.05%APY · 6 terms
$500 minimum opening deposit. No monthly service charge. Interest rate locked in for full term. Early withdrawal penalty may apply. Available terms start from 3 months. Showing rates for Apple Valley branch.
| Term | APY | Earns on $10,000Earns |
|---|---|---|
| 3 months | 3.35% | $83 |
| 6 months | 3.55% | $176 |
| 12 months | 3.75% | $375 |
| 24 months | 3.95% | $806 |
| 30 months | 3.95% | $1,017 |
| 36 months | 4.05% | $1,265 |
Opening an account
Confirm the bank’s opening requirements and whether the account is available where you live. A nearby branch does not establish eligibility for every rate.