Competitive CD Rates at mBank in Michigan - Local Only

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APYMINMAXINSTITUTIONPRODUCTDETAILS
1.15%$250-mBank48 - 60 Month CD
1.15%$250-mBank48 - 60 Month IRA
0.85%$250-mBank36 - 47 Month CD
0.85%$250-mBank36 - 47 Month IRA
0.65%$250-mBank24 - 35 Month CD
0.65%$250-mBank24 - 35 Month IRA
Accounts mentioned in this post. Rates as of July 26, 2016.

mBank in Michigan is offering three competitive CD and IRA CD rates: 1.60% APY for 2 years, 1.75% APY for 3 years and 2.25% APY for 4 years. The bank actually gives customers a range of terms for each of these rates. I just listed the shortest of the terms. These rates are listed in the bank's rates page as of 11/18/2011. The bank has separate rate tables for the three different parts of Michigan where it has branches. Currently, all three have these same rates.

The bank also offers two decent checking accounts: Green Checking and High Yield Checking. These used to offer competitive rates, but the rates have fallen quite a bit. They still have some nice features like free ATM access anywhere in the U.S. I first reported on these checking accounts last year when the Green Checking yield was 1.55% and the High Yield Checking yield was 1.40%.

It appears that a branch visit is required to open an account. mBank branches are located in Southeast Michigan near Detroit, in Northern Michigan and in Michigan's Upper Peninsula.

The bank has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 21.11% (average) based on June 2011 data. Please refer to our financial overview of mBank for more details. The bank has been a FDIC member since 1934 (FDIC Certificate # 14816).

How These CD Rates Compare

mBank's 2-year CD rate is higher than the best 2-year CD rates that are nationally available. That's currently 1.51% APY at Velocity Credit Union and 1.32% APY at CIT Bank. mBank's 4-year CD rate is also higher than the best 4-year CD rates that are nationally available. That's currently 2.17% APY at Melrose Credit Union. mBank's 3-year CD rate is below Velocity Credit Union's 3-year CD special of 2.12% APY, but it's higher than the best bank 3-year CD rate of 1.70% APY at iGObanking.com. These rates are accurate as of 11/18/2011.

Searching for the Best CD Rates

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

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Top 27-Month CD Rate & Checking Account Rates at mBank in Michigan - Local Only

mBank in Michigan is offering a very competitive CD special. It's a 1.94% APY 27-month CD. Minimum deposit is $250, and new money is required. The CD special is listed on the bank's home page as of 5/17/2011. It's a limited time promotion.

The bank also offers two competitive checking accounts: Green Checking and High Yield Checking. Both have rates of 1.00% APY on all balances as of 5/17/2011. I first reported on these checking accounts last year when the Green Checking yield was 1.55% and the High Yield Checking yield...

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Competitive Checking and CD Rates at mBank in Michigan - Local Only

mBank is offering competitive rates on its checking accounts, CDs and CD IRAs. For checking accounts, their Green Checking Account pays 1.55% APY on all balances as of 6/09/2010. Minimum to open is $100. This is a little like a reward checking account. It requires eStatements, debit card, online bill pay and an active email account. However, it only requires a minimum of 3 electronic transactions per month (including debit card). Also like a reward checking account, there are no ATM fees anywhere in the U.S. Also, it has no...

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