Chemical Bank has some competitive rates on its long-term CDs. The ones with terms of 3-years and over also have a step-up feature which provides a one-time option to increase the rate during the initial term.
Rates as of 11/04/2010:
- 2.00% APY 30-month CD
- 2.00% APY 3-year Raise-Your-Rate CD
- 2.25% APY 4-year Raise-Your-Rate CD
- 2.50% APY 5-year Raise-Your-Rate CD
They also have a 1-year add-on CD with a 1.20% APY
It appears that a branch visit is required to open an account. Branches are located throughout Michigan. Just a few of the cities include Grand Rapids, Midland, Kalamazoo, St. Joseph and Bay City