Bank · FDIC insured
Merchants Bank Savings Rates
Merchants Bank’s best savings rate is 0.55% APY on $10,000, with its Diamond Money Market. Rates checked October 5, 2026.
How Merchants Bank’s savings 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
0.55%APY
- Minimum
- $5,000
- Earns on $10,000 a year
- $55
Diamond Money Market
Top rate
VisionBank
3.76%APY
- Minimum
- $1,000
- Earns on $10,000 a year
- $376
2nd-highest rate
UMB Bank
3.71%APY
- Minimum
- —
- Earns on $10,000 a year
- $371
Merchants Bank savings score
81
Savings score
Higher than 54% of U.S. banks and credit unions
- $1,000 balance$1,0000.25%
- $10,000 balance$10,0000.55%
- $100,000 balance$100,0001.30%
- QualifiedQualified0.55%
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 savings score, in each area where it has branches
Every rate
Current savings rates
Rates from the bank’s website. Earnings assume the rate doesn’t change.
Diamond Money Market
0.55%APY
$5,000 minimum daily balance required to avoid $10 monthly fee. 6 withdrawals allowed per month ($10 fee per withdrawal over 6).
| Balance | APY | Earns on $10,000 a yearEarns |
|---|---|---|
| Up to $5,000 | 0.25% | — |
| $5,000 – $25,000 | 0.55% | $55 |
| $25,000 – $50,000 | 1.00% | — |
| $50,000 – $100,000 | 1.30% | — |
| $100,000 – $200,000 | 2.00% | — |
| $200,000 – $1,000,000 | 2.25% | — |
| Over $1,000,000 | 3.20% | — |
Sources (2)
All captured Sep 24, 2026
ICS Money Market
2.15%APY
Deposit placement through IntraFi/ICS.
| Balance | APY | Earns on $10,000 a yearEarns |
|---|---|---|
| Up to $1,000,000 | 2.15% | $215 |
| $1,000,000 – $15,000,000 | 2.65% | — |
| Over $15,000,000 | 2.95% | — |
Sources (1)
- merchantsbank.com/rates · captured Sep 24, 2026
Advantage Savings
0.25%APY
Quarterly fee of $8 applies if minimum daily balance of $1,000 is not maintained. 12 withdrawals allowed per quarter ($2 per withdrawal over 12).
| Balance | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| Up to $2,500Minimum opening deposit of $1,000. $8 quarterly fee if $1,000 daily balance is not maintained. | 0.25% | — | Minimum opening deposit of $1,000. $8 quarterly fee if $1,000 daily balance is not maintained. |
| Over $2,500Minimum opening deposit of $1,000. $8 quarterly fee if $1,000 daily balance is not maintained. | 0.25% | $25 | Minimum opening deposit of $1,000. $8 quarterly fee if $1,000 daily balance is not maintained. |
Basic Savings
0.18%APY
Quarterly fee of $8 applies if minimum daily balance of $50 is not maintained. 12 withdrawals allowed per quarter ($2 per withdrawal over 12).
| BalanceRequirement | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| Any balanceMinimum opening deposit of $50. $8 quarterly fee if $50 daily balance is not maintained.Any balance | 0.18% | $18 | Minimum opening deposit of $50. $8 quarterly fee if $50 daily balance is not maintained. |
Special-purpose accounts
My Future Fund
5.09%APY
For ages 0-18 years old. Requires a $200.00 minimum deposit to open and $50.00 automatic monthly deposit from a Merchants Bank account. Account matures and converts to Basic Savings the month of primary owner's 18th birthday, at which time funds are available for withdrawal.
| BalanceRequirement | APY | Earns on $10,000 a yearEarns | Requirement |
|---|---|---|---|
| Up to $2,000Applies to the first $2,000. Requires $200 opening deposit and $50 monthly automatic deposit from a Merchants Bank account.Up to $2,000 | 5.09% | — | Applies to the first $2,000. Requires $200 opening deposit and $50 monthly automatic deposit from a Merchants Bank account. |
Sources (3)
- merchantsbank.com/banking/save/savings-accounts
- merchantsbank.com/banking/kids-students
- merchantsbank.com/rates
All captured Oct 5, 2026
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.