MainStreet Bank Has Nationally Available 3-Year CD (2.70% APY)


Deal Summary: 2-Year CD (2.50% APY), 3-Year CD (2.70% APY), 4-Year CD (2.75% APY), $500 minimum deposit

Availability: Nationwide

As DA reader, ChasR, stated in a Forum post, MainStreet Bank is again offering competitive CD rates. Following substantial rate increases (95-105 bps) at the end of last week, the 2-Year CD (2.50% APY), 3-Year CD (2.70% APY), and 4-Year CD (2.75% APY) now rank near the top of their respective term categories. The minimum opening deposit is only $500, with no stated balance cap.

2.75%$500-MainStreet Bank4 Year CD
2.70%$500-MainStreet Bank3 Year CD
2.50%$500-MainStreet Bank2 Year CD
Rates as of May 22, 2018.

About seven years ago, MainStreet Bank developed a separate online banking division, AirBanking®, which mixed “online banking, blogging, and social media to attract young professionals.” It seems the Bank has decided against maintaining a separate internet branch, and is instead using the “AirBanking” moniker to describe its personal banking products and services. now leads to, definitive proof that AirBanking no longer exists as an autonomous entity.

As stated in the Personal Fee Schedule, the Early Withdrawal Penalty reads as follows:

2-, 3-, and 4-Year CDs -
The penalty will be an amount equal to 180 days interest on the amount withdrawn.

Thanks to ChasR for his Forum post about MainStreet Bank’s competitive CD rates.

Kasasa Cash

In November 2016, MainStreet Bank introduced a new Kasasa Cash checking account that earned 2.00% APY on qualifying balances up to $15k. That APY was in effect until early January, when the rate was raised to 3.00% APY on qualifying balances up to $15k. Qualifying balances of $15k+ earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

3.00*%-$15kMainStreet BankKasasa Cash
OTHER TIERS: 0.25% $15k+
Rates as of May 22, 2018.

Monthly Qualifications

  • Have at least 12 debit card purchases post and settle
  • Be enrolled in and receive e-Statements
  • Be enrolled in and log into online banking

The Kasasa Cash has no monthly service fee or minimum balance requirement to earn the stated APY, but it does require a minimum $50 opening deposit. While nationwide ATM fees are only refunded up to $12 monthly, MainStreet Bank participates in the AllPoint network, providing access to more than 55,000 free ATMs.


Headquartered in Fairfax, Virginia, MainStreet Bank offers its services and product line nationally to U.S. citizens and resident aliens, 18 years or older, with a valid Social Security number.

Opening a CD at MainStreet Bank can be done online, or at any of five Northern Virginia branches, located in Arlington, Fairfax (2), Herndon, and McLean.

Funding a CD can be done “online by electronic transfer from a deposit account at another institution, transfer from an existing deposit account with MainStreet Bank, or a credit card (limits apply). You will also be able to bring in or mail a check.”

Bank Overview

MainStreet Bank, has an overall health grade of "A" at, with a Texas Ratio of 2.45% (excellent), based on December 31, 2017 data. In the past year, MainStreet Bank has increased its total deposits by $158.31 million, an excellent annual growth rate of 38.47%. Please refer to our financial overview of MainStreet Bank (FDIC Certificate # 57742) for more details.

MainStreet Bank is a young institution, having been established in 2004. The Bank continued to grow during the Financial Crisis and is currently Virginia’s 25th largest bank, with assets in excess of $807 million. In 2012, MainStreet Bank developed Aircharity®, a method that allows organizations and individuals to raise money via email, websites, and social media. Aircharity® permits MainStreet Bank customers to open accounts and accepts donations from both debit and credit cards, and electronic checks.

How the CDs Compare

When compared to the 202 similar length-of-term CDs tracked by that require a similar deposit and are available nationally, MainStreet Bank’s 3-year CD APY currently shares the top spot with Banesco USA’s 36-month CD APY.

Interest RateCD Length of TermCredit Union/Bank
2.70% APY3-Year CDMainStreet Bank
2.60% APY3-Year CDLive Oak Bank
2.58% APY36-Month CDFirst Internet Bank

When compared to the 170 similar length-of-term CDs tracked by that require a similar deposit and are available nationally, MainStreet Bank’s 4-year CD APY currently ranks second.

Interest RateCD Length of TermCredit Union/Bank
2.94% APY48-Month Personal CDConnectOne Bank
2.75% APY4-Year CDMainStreet Bank
2.68% APY48-Month CDFirst Internet Bank

When compared to the 201 similar length-of-term CDs tracked by that require a similar deposit and are available nationally, MainStreet Bank’s 2-year CD APY currently ranks third.

Interest RateCD Length of TermCredit Union/Bank
2.55% APY2-Year CDLive Oak Bank
2.51% APY24-Month CDColorado Federal Savings Bank
2.50% APY2-Year CDMainStreet Bank

The above rates are accurate as of 4/23/2018.

Searching for the best CD rates, either nationally available or state-specific, please refer to our CD Rates Table page.

Related Pages: Washington checking accounts, reward checking accounts, 5-year CD rates, nationwide deals

MainStreet Bank (VA) Has Nationally Available Kasasa Cash
Availability: Nationally available

Note:It is completely fortuitous that within four days I would be writing about two separate institutions with very similar names, both having Kasasa Cash accounts that are available nationally. To avoid any confusion, this blog post is about MainStreet Bank (based in Virginia) and the earlier post was about Main Street Bank (based in Michigan).

In November, Virginia-based MainStreet Bank introduced a new Kasasa Cash checking account that earns 2.00% APY on qualifying balances up to $15K; qualifying balances over $15K earn 0.25% APY, while non-qualifying balances...

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Long-Term CD Deal at MainStreet Bank in Virginia - Local Only

MainStreet Bank is offering a 3.50% APY 5-year CD. Minimum deposit is $500. This rate is listed in the bank's interest rates chart as of 4/16/2010.

It appears that a branch visit is required to open an account. Branches are located in the Northern Virginia cities of Fairfax, Herndon and McLean.

The bank's ratings for safety and soundness are above average, but a little mixed: 5 stars (superior) at BauerFinancial (based on 12/31/09 data) and 3 stars (performing) at (based on 9/39/09 data). The bank has been a FDIC member since...

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