Merchants Bank

5.92% APY High Yield Flex CD from Merchants Bank of Indiana

Merchants bank of Indiana offers a unique flex rate CD product that is currently paying 5.92% APY on their 12 month CD.

Highest CD Rates 5.65% APY 12Month Flex CD from Merchants Bank of Indiana

Merchants Bank of Indiana is one of few companies offering a flexible rate certificate of deposit (CD). How does a flex rate CD work? The company uses the prime rate minus 2.75%. At the time of this writing, 7/25/2023 this rate is now 5.65%. As the prime rate changes, this rate can go up or down. The company offers a 12 month, 24 month and 36 month CD for the flex rate CD. A minimum of $1000 is required. The account is FDIC insured but the rate is not guaranteed that it will stay the same. ...