Amerant Bank

Mercantile Bank has changed their name to Amerant.

Amerant is the high-grade banking option that ensures that consumers achieve high-edge benefits from financial institutions. It is headquartered in Florida and tends to provide extreme authenticity in terms of interest rates and other investment horizons. 

Amerant Bank CD Rates Offers

The most enchanting and potentially worth-considering CD rates offers for Amerant Banking are;

15-Month Promotional CD

Features:

  • APY: 5.35%
  • Rate Tiers: $10,000 – $250,000
  • Minimum Balance: $10,000
  • Maximum Balance: $250,000
  • Interest can be withdrawn before maturity: No
  • Partial Early Withdrawals Allowed: Yes

Key Considerations:

  • The bank offers mobile banking and mobile deposit services, providing convenient access to account information and transactions.
  • Both online and paper statements are available. However, there is a $5 paper statement fee, which individuals who prefer paper statements should take into consideration.

Pros & Cons

ProsCons
High Edge APY of 5.35%Fees applied for the paper statement
Allows partial early withdrawalsNo interest on withdrawal
Mobile banking and mobile deposit services

Are Amerant CD Rates Competitive?

Amerant Bank offers competitive CD rates, exemplified by their 15 Month Promotional CD with an impressive Annual Percentage Yield (APY) of 5.35%.

This rate is notably higher than the national average of 3.98%, providing potential investors with an opportunity for a more robust return on their investment. The 5.35% APY positions Amerant Bank’s CD favorably in the market, attracting those seeking a relatively short-term commitment with the prospect of maximizing their earnings.

This competitive rate is particularly appealing for individuals looking to capitalize on a higher yield within a 15-month timeframe, potentially outperforming offerings from other financial institutions.

How do Amerant Bank CD Rates compare?

To assess how Amerant Bank CD rates compare, it’s essential to consider them in the context of the broader financial market.

Amerant Bank CD Rates vs. National Average

  • Amerant Bank’s 5.35% APY for the 15 Month Promotional CD exceeds the national average CD rate, which is around 3.98%.
  • This suggests that Amerant Bank’s CD rates are relatively competitive, providing an opportunity for investors to earn a higher yield compared to the average offered by banks nationwide.

Overview of Amerant Bank

Amerant Bank has been in business for over 40 years offering every aspect of all financial needs that people may have. Everything they do is designed around making the customer’s experience as simple and carefree as possible. 

They are dynamic and flexible, conforming to your specific needs. Their portfolios are largely diverse and can fit anyone’s needs quickly and concisely. They are the largest community bank that is based in Florida, with assets equaling close to $8 billion. The bank have 692 employees over their 22 banking centers. They are a household name in the banking community.

You do not need to be a member of Amerant Bank to open a CD account with them. Everything can be done online with no hassle at all. 

You do still have the option to go into one of their 22 physical locations and open an account if you so choose. Either way that you choose, the bank representatives will make your experience as quick and carefree as possible. They have over 40 years in the banking industry and know how to make your experience a great one.

Location of Amerant Bank

Branches in Florida

Aventura, Boca Raton, 2 branches in Coral Gables, Coral Springs, Davie, Delray Beach, 2 branches in Doral, 2 branches in Fort Lauderdale, Hialeah, 4 branches in Miami, Miami Lake, Pembroke Pines, Wellington, and Weston.

Branches in Texas

The branches in Texas are:

5 branches in Houston, Shenandoah, Sugar Land, and Katy.

Availability

You do not need to be a member of Amerant bank to open a CD account with them. Everything can be done online with no hassle at all. You do still have the option to go into one of their 27 physical locations and open any account if you so choose.

Either way that you choose, the bank representatives will make your experience as quick and carefree as possible. They have over 40 years in the banking industry and know how to make your experience a great one.

FAQs

Is the 5.35% APY for the 15 Month Promotional CD a fixed rate?

Yes, the APY represents a fixed rate for the duration of the CD term.

Can I open the 15-Month Promotional CD online, and is it available nationwide?

Yes, the CD can be opened online, and it is available nationwide, except in Florida and Texas.

What happens if I need to withdraw my funds before the CD matures?

Early withdrawals may be subject to penalties, and the specific terms should be reviewed. Partial early withdrawals are allowed.

Can I add additional funds to my 15 15-month promotional CD after the initial deposit?

No, once the CD is opened, additional funds cannot be added. The initial deposit is fixed for the term.

What happens when the 15 Month Promotional CD matures?

At maturity, you have the option to withdraw the funds, renew the CD with the current rate, or explore other available investment options. Review the bank’s instructions for maturity procedures.