Certificates of Deposits
Midwest Bank offers several ways for you to earn higher rates on your idle cash balances. Our assortment of Certificates of Deposit (CDs) offers terms from seven days to five years, along with competitive yields, a flexible-rate feature on certain accounts, automatic renewal, and more.
| 7 days to 60 month CDs | No Penalty CD with checking (1) | ADDvantage CD | ||
|---|---|---|---|---|
| Maturities | 7 to 31 days and 182 days | 12 to 60 months | 12 months | 15 months |
| Minimum balance to open | $1,000 | $1,000 | $10,000 | $1,000 |
| Interest Rate and APY(2) | Fixed interest rate and APY. Interest compounded at maturity. | Fixed interest rate and APY. Interest compounded monthly. | Fixed interest rate and APY. Interest compounded monthly. | Fixed interest rate and APY. Interest compounded monthly. |
| Early Withdrawal Penalties | 30 days of interest | 30 days interest on 12 Month Term 180 days on CD terms exceeding 12 months |
30 days interest if withdrawn within the first 7 calendar days of account opening | 180 days of interest |
| Auto Renewable | Yes | Yes | Yes | Yes |
| Step-Up CD | Flex Rate CD | Piggy Bank CD | |
|---|---|---|---|
| Maturities | 18 months | 24 or 36 months | 9 months |
| Minimum balance to open | $1,000 | $1,000 | $100 |
| Interest | Fixed interest rate and APY (2). Interest compounded monthly. | Interest rate may increase after account opening based on the Flex Rate feature. Interest compounded monthly. | Fixed interest rate and APY (2). Interest compounded quarterly. |
| Early Withdrawal Penalties | 180 days of interest | 180 days of interest | 30 days of interest |
| Auto Renewable | Yes, at the regular 18 Month fixed-rate CD posted rate | Yes | Yes |
(1) Requires a checking account relationship at Midwest Bank, either existing or new. Opening deposit for a new checking account must be new money not currently on deposit at Midwest Bank.
(2) Annual Percentage Yield
Additional CD terms less than 1 year but greater then 182 days may be available.
See a Personal Banker for additional features, terms and conditions that may apply.
