®®Top 10 CD Rates in Michigan - 2024 Sortable APY Guide
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Top CD rates in Michigan ranked by best APY.
Sort the best APY by deposit amount, and watch earnings work as car down payments in our MI car payment calculator. The rates listed are the best offered on 12-month CDs to make it easy to calculate earnings as an annual percentage yield.
The APY listed may change at any time. Rates vary based on deposit date, terms, and location.
Sort rates by clicking the top of the list. $
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Flagstar Bank Flagstar first opened in 1987 and has over 115 locations in Michigan and 420 branches nationwide. Anyone can start a CD account as long as deposits come from non-Flagstar accounts and the balance is maintained for 13 months. Flagstar Bank ranks #1 on our 2024 list of the best CD rates in Michigan for the highest yield with top customer service. Flagstar Bank is headed by Sandro DiNello who became CEO in 2023 after decades of service. He got into banking as a financial examiner before getting hired by the Security Savings Bank in Michigan which later became Flagstar. Sandro was born in Detroit and studied business at Western Michigan University. CD Rate: Deposit Amount: Annual Yield:
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Genisys Credit Union
Genisys was founded in 1936 and offers 35 branches in Michigan. Residents can get started on an CD account with a $500 minimum deposit and no withdrawals for 13 months. Genisys CU is led by Jackie Buchanan who joined the company in 1991 and became CEO in 2010. Jackie studied accounting at Walsh, and completed a masters degree in information systems from LTU. CD Rate: Deposit Amount: Annual Yield:
United Federal Credit Union United Federal was established in 1949 and has over 45 branches in Michigan. Anyone can open a CD account with a $500 starting deposit where the balance is maintained for 12 months. United FCU is led by Terry O'Rourke who was hired as chief executive in 2016. He studied economics at the Western Michigan University and enjoys fishing and golfing in his spare time. CD Rate: Deposit Amount: Annual Yield:
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Independent Bank
Independent was created in 1890 and has 61 branches in Michigan. Residents can get CD rates with the best yields by maintaining a minimum $1000 deposit for 13 months. Independent Bank is run by William Kessel who was hired in 1994 as VP of Finance and has been the chief executive since 2004.
Bank of America
BofA was founded in 1904 and offers 80 locations in Michigan and 3800 branches nationwide. Anyone can get CD rates with annual yields by opening a certificate with a $1000 or greater deposit that provides the highest yield when saved for 13 months. Bank of America is run by Brian Moynihan who started in 2004 and became chief executive in 2010. Brian played rugby and studied history at Brown University, and got his law degree from Notre Dame.
Fifth Third Bank Fifth Third was created in 1865. It has 170 branches in Michigan. Any individual can set up a CD account with $5000 or more saved for at least 12 months. Fifth Third is managed by Timothy Spence who joined the company in 2015 as a strategy officer and became CEO in 2022. Tim was born in 1979 and learned economics at Colgate University. |
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Lake Michigan Credit Union
LMCU was created in 1933 and has over 70 locations in Michigan. Anyone can get started on a CD account with a $500 minimum deposit and a balance maintained for 12 months. Lake Michigan CU is headed by Julie Leonard who was hired as CEO in March 2024. Julie studied accounting at the University of Michigan in Flint. She is a certified public accountant with a masters degree in business and 25 years of banking leadership experience.
Michigan First Credit Union
Michigan First CU was established in 1926 and offers 35 locations in MI. Anyone can open a CD account for $1000 or more with the best yield when deposits are saved for 16 months. Michigan First is run by Jennifer Borowy who joined the company in 2018 and became Chief Executive Officer in 2022. Jennifer learned business at Walsh University and began her finance career in 2008 at PNC Bank in branch management. She enjoys running and hiking near the lakes in MI and practicing golf at the local driving range.
Old National Bank
ONB was founded in 1907. It has 22 locations in MI. Anyone can open a CD account with a $5000 minimum deposit and highest yields when balances are kept for 15 months. Old National Bank is managed by Jim Ryan who joined in 2000 as the assistant treasurer and became CEO in 2022. Jim grew up in Grand Rapids and learned finance at GVSU.
PNC Bank PNC was established in 1804 and provides over 135 locations in Michigan and 2400 branches nationwide. Residents can get CD rates with annual yields by saving $1000 or more for 13 months. PNC is led by William Demchak who started as Chief Financial Officer in 2002, and was appointed President in 2013. Bill was born in Pittsburgh on August 24th, 1962. He studied accounting at the University of Michigan. |
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CD rates are listed for reference only.
Banks may set best rates on terms ranging from 12 to 16 months as written in the description of each provider. Verify final rates, terms, and fees before considering deposits. CD accounts perform best during long-term savings with highest yields when early withdrawals are not taken during the term selected. If balances may fluctuate, a high yield savings account may be a better option. |
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