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Minnwest Bank


TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/22/2025
4.54%
Our Rating
4.2  / 5
Peak Bank
Envision High Yield Savings
See Offer
Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/22/2025
3.80%
Our Rating
4.3  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to 3.80% APY and up to $300 with direct deposit. Members can unlock our highest savings rate with direct deposit OR by depositing $5,000 or more every 30 days. Terms Apply. Member FDIC
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/22/2025
4.10%
Our Rating
4.2  / 5
CIT Bank
Platinum Savings
See Offer
Sponsored Note: Get up to a $300 Cash Bonus. FDIC Insured. See site for details.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/22/2025
3.70%
Our Rating
4.3  / 5
American Express®
High Yield Savings Account
See Offer
Sponsored Note: Interest compounds daily, deposited monthly
Member FDIC
Bonus Amount
up to $300
Our Rating
4.3  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!
Overview / Commentary
www.minnwestbank.com
507-637-5731
300 South Washington Street
Redwood Falls, MN 56283

Minnwest Bank is headquartered in REDWOOD FALLS and is the 5th largest bank in the state of Minnesota. It is also the 390th largest bank in the nation. It was established in 1941 and as of December of 2024, it had grown to 388 employees at 37 locations. Minnwest Bank's savings rates are 6X the national average, and it has an A health rating.

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Health
A

Data as of Q4 2024

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #16958
Year Established1941
Employees388
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.69%
Return on Equity - YTD7.62%
Annual Interest Income$157.6MM
Assets and Liabilities
AssetsQ4 2024vs Q4 2023$3.16B$3.11B
LoansQ4 2024vs Q4 2023$2.29B$2.24B
DepositsQ4 2024vs Q4 2023$2.83B$2.59B
Equity CapitalQ4 2024vs Q4 2023$295MM$269.5MM
Loan Loss AllowanceQ4 2024vs Q4 2023$30.6MM$32.1MM
Unbacked Noncurrent LoansQ4 2024vs Q4 2023$2.6MM$11.6MM
Real Estate OwnedQ4 2024vs Q4 2023$17MM$8.2MM
TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/22/2025
4.54%
Our Rating
4.2  / 5
Peak Bank
Envision High Yield Savings
See Offer
Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/22/2025
3.80%
Our Rating
4.3  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to 3.80% APY and up to $300 with direct deposit. Members can unlock our highest savings rate with direct deposit OR by depositing $5,000 or more every 30 days. Terms Apply. Member FDIC
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/22/2025
4.10%
Our Rating
4.2  / 5
CIT Bank
Platinum Savings
See Offer
Sponsored Note: Get up to a $300 Cash Bonus. FDIC Insured. See site for details.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 4/22/2025
3.70%
Our Rating
4.3  / 5
American Express®
High Yield Savings Account
See Offer
Sponsored Note: Interest compounds daily, deposited monthly
Member FDIC
Bonus Amount
up to $300
Our Rating
4.3  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Minnwest Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.04%*$500k*-Investment Savings
OTHER TIERS: 0.50% → $0 - $50k | 1.76% → $50k - $100k | 2.02% → $100k - $250k | 2.27% → $250k - $500k
2.27%*$1m*-Platinum Business Savings
OTHER TIERS: 0.40% → $10k - $100k | 0.60% → $100k - $500k | 1.87% → $500k - $1m
0.30%$300-Classic Business Savings
0.20%*$30k*-Health Savings Account
OTHER TIERS: 0.05% → $0 - $30k
0.05%$0-Thrift Savings

Minnwest Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.51%*$500k*-Money Max Savings
OTHER TIERS: 0.30% → $0 - $100k | 0.50% → $100k - $225k | 1.00% → $225k - $500k

Minnwest Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$0$10kMinnwest Digital Checking
OTHER TIERS: 0.05% → $10k+
0.35%*$500k*-Non-Profit Checking
OTHER TIERS: 0.10% → $0 - $150k | 0.25% → $150k - $500k
0.01%$0-Minnwest Platinum Checking

Minnwest Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.90%$25k-25 Month Classic CD Special
3.78%*$25k*-7 Month Classic CD Special
OTHER TIERS: 3.07% → $5k - $25k
3.41%*$25k*-19 Month Classic CD Special
OTHER TIERS: 2.50% → $5k - $25k
3.41%$1k-30 Month Digital CD Special - Online Only
3.40%$1k-12 Month Digital CD Special -- Online Only
3.07%$1k-6 Month Digital CD Special -- Online Only
Locations

Availability



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