Meridian Bank (PA) Ups 36-Month CD Rate


Deal Summary: CDs – 24-month (2.80% APY), 36-month (3.00% APY), 48-month (3.05% APY), $500 minimum deposit

Availability: Market area is southeast Pennsylvania.

Meridian Bank began the week by raising the rates on most of its CDs, with the 24-month (2.80% APY), 36-month (3.00% APY), and 48-month (3.05% APY) being the most competitive. The minimum opening deposit is $500, with no stated balance cap.

4.50%$500-Meridian Bank6 Month CD
4.50%$500-Meridian Bank12 Month CD
4.50%$500-Meridian Bank24 Month CD
4.00%$500-Meridian Bank36 Month CD
3.50%$500-Meridian Bank48 Month CD
3.50%$500-Meridian Bank60 Month CD
Rates as of February 26, 2024.

This week’s rate increases (between 115-120 bps) are the first rate changes in nearly a year for all the CDs. The new APYs are by far the highest rates seen in more than seven years.

The CDs are also offered as IRAs (Traditional, Roth), earning the same APYs with the same funding requirements.

As stated on the CDs & IRA CDs page, the Early Withdrawal Penalty reads as follows:

CDs less than 24 months – 6 months interest

CDs 24 months or greater – 12 months interest

Essential Savings

Meridian Bank has also added a new Essential Savings account, which earns 2.00% APY on all balances.

The Essential Savings account can be opened a minimum $25 deposit. Maintaining a $100 daily balance waives the $5 monthly service charge. There is a $10 excess withdrawal fee for each transaction beyond the six allowed per month. eStatements are free, but paper statements incur a $2 charge per month.

While the 2.00% APY is a competitive rate, earning the stated APY is dependent on having a Relationship Checking account that meets the following monthly requirements:

  • Five debit card purchases
  • Two ACH direct deposits of at least $250

The Relationship Checking account is not a Rewards Checking Account: the two monthly transactional requirements mentioned above have no bearing on the Relationship Checking’s APY. There are two low APY tiers, 0.40% and 0.25%, based on balance levels of $10k+ and less than $10k, respectively. There is a $25 monthly service charge that can be waived with a $15k minimum daily combined balance (checking, savings, and money market).


Headquartered in Paoli, Meridian Bank’s market area is primarily southeast Pennsylvania, although its website states it provides full banking services to customers in Pennsylvania, New Jersey, and Delaware.

Opening a CD at Meridian Bank can be done at any of six full-service Pennsylvania branches located in Blue Bell, Doylestown, Media, Paoli, Philadelphia, and West Chester.

While there is an “Open an account” button on the CDs & IRA CDs page, it takes you to a page with five different applications (PDF format), but CDs are not listed on any of the PDFs. The Essential Savings account can be opened by filling out the Personal Account Application PDF, and returning it by fax or by snail mail.

Bank Overview

Meridian Bank, has an overall health grade of "A+" at, with a Texas Ratio of 3.08% (excellent), based on March 31, 2018 data. In the past year, the Bank has increased its total deposits by $107.58 million, an excellent annual growth rate of 27.26%. Please refer to our financial overview of Meridian Bank (FDIC Certificate # 57777) for more details.

Founded in 2004 with a single branch, Meridian Bank was one of the more than 20 de novo banks that opened in the Greater Philadelphia area in the early 2000s; it’s now one of the last of those institutions that are still thriving. According to the Bank’s website,

We achieved profitability in record time, during our fifth quarter of operation by concentrating on business and commercial real estate lending. In 2007, a residential mortgage division was established. With 15 offices in the tri-state area, the mortgage division has been a major contributor to the Bank’s success.

Meridian Bank is currently the 50th largest bank in Pennsylvania, with assets in excess of $883 million.

How the CDs Compare

When compared to the 340 similar length-of-term CDs tracked by that require a similar deposit and are available within the market area, Meridian Bank’s 36-month CD APY currently ranks second.

When compared to the 296 similar length-of-term CDs tracked by that require a similar deposit and are available within the market area, Meridian Bank’s 48-month CD APY currently ranks second.

When compared to the 338 similar length-of-term CDs tracked by that require a similar deposit and are available within the market area, Meridian Bank’s 24-month CD APY currently ranks third.

The above rates are accurate as of 6/28/2018.

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

Related Pages: Philadelphia savings accounts, savings accounts, checking accounts, 1-year CD rates, 5-year CD rates

3.03% 18-Month CD at Meridian Bank in Arizona
Meridian Bank is offering a special Bump-Up 18-month CD with a 3.03% APY. Minimum deposit is $1,000. It provides a one-time option to bump-up to a higher rate if their CD rates increase during the term. According to the bank's promotional page, the offer ends April 17, 2009.

There are also other special CD rates listed in the bank's rate table as of 3/04/09. These include a 2.73% APY 7-month CD and a 2.88% APY 13-month CD. Minimum deposit is $5,000.

It appears a branch visit is required to open accounts. Branches...

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