MidFirst Direct Ups All High Yield Online CD Rates

POSTED ON BY

Deal Summary: High Yield Online CD – 12-month (2.15% APY), 18-month (2.25% APY), 24-month (2.50% APY), 36-month (2.60% APY), 48-month (2.65% APY), 60-month (2.75% APY), $1k minimum deposit

Availability: Online market area now includes the 48 continental U.S. states.

MidFirst Direct ended the week by raising the rates on all its High Yield Online CDs, adding between 15-20 bps. Of the ten High Yield Online CDs, the 12-month (2.15% APY), 24-month (2.50% APY), and 36-month (2.60% APY) are the most competitive. The minimum deposit is $1k, with “deposits limited to $250,000 per CD.”

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.75%$1k-MidFirst Direct60 Month High Yield Online CD
2.65%$1k-MidFirst Direct48 Month High Yield Online CD
2.60%$1k-MidFirst Direct36 Month High Yield Online CD
2.50%$1k-MidFirst Direct24 Month High Yield Online CD
2.25%$1k-MidFirst Direct18 Month High Yield Online CD
2.15%$1k-MidFirst Direct12 Month High Yield Online CD
Rates as of April 25, 2018.

This comes a week after MidFirst Direct started offering a very competitive 15-month CD special.

The CD Disclosure Page, which had previously been buried in the online application, is now available on the website. The Early Withdrawal Penalty has changed since in the past year and now reads as follows:

If we allow a withdrawal prior to maturity, either partial or total, each time
we allow such a withdrawal, we will assess an early withdrawal penalty.

CD Term greater than 12 Months - Three percent of the amount withdrawn, plus a $25 fee

Availability

Headquartered in Oklahoma City, MidFirst Direct is the internet division of MidFirst Bank, which is one of the largest privately owned banks in the United States.

In the past, the online market area was restricted to 12 states spread across the country, but MidFirst Direct now offers their product line to all U.S. citizens and resident aliens, with the exception of the residents of Alaska and Hawaii.

MidFirst Direct’s product line is currently limited to CDs and a High Yield Online Savings account, all of which must be opened online.

Bank Overview

As MidFirst Bank's internet division, MidFirst Direct operates under MidFirst Bank's FDIC Certificate and shares its financial information.

MidFirst Bank/Direct has an overall health grade of “A" at DepositAccounts.com, with a Texas Ratio of 6.49% (excellent), based on December 31, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $634.65 million, an excellent annual growth rate of 8.85%. Please refer to our financial overview of MidFirst Bank/Direct (FDIC Certificate # 4063) for more details.

MidFirst Bank, one of the largest privately owned banks in the United States, traces its roots to Midland Mortgage Company, which was founded in 1950 by a group of Oklahoma City area bankers. The name was changed to MidFirst Bank in 1982, following the purchase of a thrift charter. Through continued growth and market expansion, today’s MidFirst Bank has assets in excess of $14.7billion and 79 branch locations in Colorado, Oklahoma, and Arizona.

How the High Yield Online CDs Compare

When compared to the 172 similar length-of-term CDs tracked by DepositAccounts.com that require a similar deposit and are available nationally, MidFirst Direct’s 12-month High Yield Online CD APY currently ranks second.

Interest RateCD Length of TermCredit Union/Bank
2.94% APY48-Month Personal CDConnectOne Bank
2.65% APY48-Month High Yield Online CDMidFirst Direct
2.63% APY48-Month CDFirst Internet Bank

When compared to the 202 similar length-of-term CDs tracked by DepositAccounts.com that require a similar deposit and are available nationally, MidFirst Direct’s 36-month High Yield Online CD APY currently ranks second.

Interest RateCD Length of TermCredit Union/Bank
2.70% APY36-Month CDBanesco USA
2.60% APY36-Month High Yield Online CDMidFirst Direct
2.56% APY36-Month CDColorado Federal Savings Bank

When compared to the 201 similar length-of-term CDs tracked by DepositAccounts.com that require a similar deposit and are available nationally, MidFirst Direct’s 24-month High Yield Online CD APY currently ranks fourth.

Interest RateCD Length of TermCredit Union/Bank
2.60% APY24-Months Online Time DepositMy eBanc
2.55% APY2-Year CDLive Oak Bank
2.50% APY24-Month High Yield Online CDMidFirst Direct

The above rates are accurate as of 4/14/2018.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: 1-year CD rates, 5-year CD rates, nationwide deals, Internet banks

Comments
MidFirst Direct Offers Nationwide 15-Month CD Special (2.35% APY)

Deal Summary: 15-month High Yield Online CD Special, 2.35% APY, $5k minimum deposit

Availability: Online market area now includes the 48 continental U.S. states.

MidFirst Direct has added a 15-month High Yield Online CD Special earning 2.35% APY. The CD Special requires a $5k minimum deposit (unlike the $1k minimum for MidFirst Direct’s non-Special CDs), with “deposits limited to $250,000 per CD.”

Good news – the CD Disclosure Page, which had been buried in the online application, is now available on the website. The Early Withdrawal...

Continue Reading
MidFirst Direct Raises Rates on Shorter Term CDs

Deal Summary: High Yield Online CDs: 12-month (1.35% APY), 18-month (1.45% APY) and 24-month (1.55% APY); $1k minimum deposit

High Yield Online Savings, 1.00% APY, $1k minimum opening deposit

Availability: Online market area includes Arizona, Arkansas, California, Colorado, Florida, Missouri, New Hampshire, Nevada, New York, Oklahoma, Texas, and Wyoming.

MidFirst Direct ended the month by raising the APYs on its shorter term High Yield Online CDs, with the 18-month (1.45% APY) being the most competitive. The minimum opening deposit for any High Yield Online CD is $1k, with...

Continue Reading
MidFirst Direct Has Competitive Long-Terms CDs
Availability: Online market area includes Arizona, Arkansas, California, Colorado, Florida, Missouri, New Hampshire, Nevada, New York, Oklahoma, Texas, and Wyoming.

Last week, MidFirst Direct raised the APYs on most of its CDs, with the 60-month CD (2.25% APY) and 84-month CD (2.50% APY) being the most competitive. The minimum opening deposit for either CD is $1k, with no stated balance cap.

A specific description of the Early Withdrawal Penalty (EWP) used to be included in the Certificate of Disclosure Page, but it has been replaced with,

If Your...
Continue Reading
MidFirst Direct’s Competitive Long-Term Online CDs

Availability:

Residents of Arkansas, Arizona, California, Florida, Missouri, Nevada, New Hampshire, New York, Oklahoma, Texas, and Wyoming.

While I was working on the CD summary yesterday, I noticed that 3% CDs have once again become rare. Even the best brokered CD rates are no longer at 3%. Treasury yields are even worse with the 10-year Treasury note yielding less than 2%. Due to these low rates, I thought it was a good time to do another review of the long-term CDs at MidFirst Direct (internet division of MidFirst Bank,...

Continue Reading
MidFirst Direct Raises Rates On High Yield Online CDs - Very Competitive

MidFirst Direct (internet division of MidFirst Bank, headquartered in Oklahoma) has raised the rates on six of its High Yield Online CDs to very competitive levels

The minimum deposit and balance on all of MidFirst Direct’s High Yield Online CDs is $1K, with total deposits limited to $250K per customer.

CD Length Interest Rate CD Length Interest Rate
12-month High Yield Online CD 1.05% APY 36-month High Yield Online CD 1.50% APY
18-month High Yield Online CD 1.05%...
Continue Reading

More Past Offers



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact feedback@depositaccounts.com to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.