Main Street Bank (MI) Hikes 12-Month CD Rate (Nationally Available)


Availability: Nationwide

Following the Fed’s long anticipated rate hike, many financial institutions began the New Year by raising rates. Michigan-based Main Street Bank joined the celebration with a rate hike of 85 basis points on its 12-month CD (1.35% APY).

The minimum opening deposit is $500 and there is no maximum balance cap.

2.00%$500-Main Street Bank (MI)12 Month CD
Rates as of July 21, 2018.

As stated on Main Street Bank’s Certificates of Depost page, the Early Withdrawal Penalty reads as follows:

Early withdrawals may result in a penalty equivalent to 90 days of interest
if your term is between 6 and 12 months.

Kasasa Cash

Main Street Bank’s Kasasa Cash account earns 2.25% APY on qualifying balances up to $25K, with qualifying balances of $25K+ earning 0.25% APY. Non-qualifying balances earn 0.05% APY.

2.25*%-$25kMain Street Bank (MI)Kasasa Cash
OTHER TIERS: 0.25% $25k+
Rates as of July 21, 2018.

Monthly Qualifications

  • Be enrolled in and receive eStatement notices
  • Have at least 12 debit card purchases post and settle
  • Have at least one direct deposit, one ACH, or have one bill pay post and settle

The Kasasa Cash account requires a minimum $100 opening deposit and there are no fees associated with the account. There are unlimited reimbursements (up to $4 per single transaction) for nationwide ATM fees. An ATM receipt must be presented within thirty days of the transactions for reimbursements of ATM fees of $4.01 or greater.


Headquartered in Bingham Farms, Michigan, Main Street Bank offers its services and product through its online application to any U.S. Citizen, 18-years or older.

If you live in the northern suburbs of Detroit and prefer a brick-and-mortar experience, Main Street Bank has two branches located in Bingham Farms and Troy. Main Street Bank also has three Home Loan Centers (mortgages) located in Clinton Township, Northville, and Rochester.

Bank Overview

Main Street Bank (FDIC Certificate # 57878) has an overall health grade of "A" at, with a Texas Ratio of 0.00% (excellent), based on September 30, 2015 data. In the past year, Main Street Bank has increased its total deposits by $19.11 Million, an excellent annual growth rate of 13.28%. Please refer to our financial overview of Main Street Bank for more details.

Note: the Texas Ratio of 0.00% is not a typo.

Main Street Bank was established in 2005 as the NSTAR Community Bank whose parent company was North Star Financial Holdings, Inc. The current Main Street Bank is not to be confused with the Northville-based Main Street Bank that was closed in 2008 by the FDIC. In ten years, Main Street Bank has grown to become Michigan’s 61st largest bank, with assets in excess of $196 Million.

How the CD Compares

When compared to the 131 similar length-of-term CDs tracked by that require a similar deposit and are available nationally, Main Street Bank’s 12-Month CD currently ranks second.

The above rates are accurate as of 1/4/2016.

To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of

Related Pages: Main Street Bank (MI), Detroit

Anonymous   |     |   Comment #1
Most banks are not raising rates. The ones that are had horribly low rates to begin with.

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