Merchants Bank of Indiana CD Rates: 5.39% APY 12, 24, 36-Month Flex Index CD (Nationwide)

Find the latest Merchants Bank of Indiana CD Rates, Offers, and Promotions here. You can now earn some of the best CD Rates from Merchants Bank of Indiana.

Update 10/29/24: Rates have overall decreased.

Best CD Rates: 5.39% APY 12, 24, 36-Month Flex Index CD ($1,000 minimum deposit)

Availability: Nationwide

About Merchants Bank of Indiana

Merchants Bank of Indiana is headquartered in CARMEL and is the 3rd largest bank in the state of Indiana. It is also the 125th largest bank in the nation. It was established in 1923 and as of March of 2023, it had grown to 534 employees at 6 locations. Merchants Bank of Indiana’s money market rates are 11X the national average, and it has an A health rating.

Merchants Bank of Indiana CD Rates

With as little as $1,000, you can invest in a Merchants Bank of Indiana CD account to maximize your earnings. The interest is compounded monthly and credited to your account monthly.

If you’re interested in making a higher rate than a traditional savings account then make sure to check out the CD rates.

• Minimum deposit: $1,000
• Maximum deposit: Not listed

*The above rates are accurate as of 10/29/2024*

(at Merchants Bank of Indiana)

Merchants Bank of Indiana CD Features

Flex Index CD

Finally, a certificate of deposit that keeps pace with a changing rate environment! Their Flex Index CD instantly allows our customers to earn more when the Fed raises rates!

• Interest rate is based on a Prime Rate index minus a margin of 2.75%, with a floor of 0%
• Interest rate may change at any time based on changes in the index
• Minimum balance to open CD is $1000
• Must maintain minimum balance of $1000 every day to earn APY
• Penalty may be imposed for early withdrawal

CD Options

Looking for a fixed-rate, fixed-term deposit account? A traditional Certificate of Deposit is a great way to earn higher interest rates than regular savings accounts.

• Minimum balance to open CD is $1000
• Must maintain minimum balance of $1000 every day to earn APY
• Penalty may be imposed for early withdrawal

Bottom Line

With a unique selection of CD lengths to choose from, you can be sure to find an account that best fits all your banking needs.

For example accounts like Certificate of Deposits, Savings Accounts, and Loan services. The rates are worth a look, but always compare them with the nation’s best using our guides: CD Rates | Savings Rates.

This is a great opportunity to invest in a high-interest CD from Merchants Bank of Indiana. However, you may want to compare them with our best CD Rates:

• Best 6-Month CD Rates
• Best 9-Month CD Rates
• Best 12-Month CD Rates
• Best 18-Month CD Rates
• Best 24-Month CD Rates
• Best 36-Month CD Rates
• Best 48-Month CD Rates
• Best 60-Month CD Rates
• Best No Penalty CD Rates

You might even find yourself earning more than a regular savings account. Be sure to apply as soon as you can to start your new account experience. Check back often for the latest Merchants Bank of Indiana CD Rates CD rates!

Disclaimer: Rates / APY terms above are current as of the date indicated. These quotes are from banks, credit unions and thrifts. Bank, thrift and credit union deposits are insured by the FDIC or NCUA. Contact the bank for the terms and conditions that may apply to you. Rates are subject to change without notice and may not be the same at all branches.