MC Bank CD Rates directly impact the returns that depositors receive on their invested funds. Higher CD rates generally translate to increased earnings for depositors, fostering financial growth.

These rates influence individuals’ decisions to save and invest, contributing to the overall stability and health of the economy. MC Bank’s CD Rates, therefore, serve as a key factor in shaping the financial landscape by influencing individuals’ investment choices and subsequently contributing to broader economic growth.

MC Bank CD Rates Offers

Popular MC Bank CD offers are;

3-5 Months CD

  • Minimum Balance: $1,000.00
  • Interest Rate: 0.27%
  • APY: 0.27%

Considerations: Limited interest earnings compared to longer-term CDs. No compounding frequency was specified.

Pros & Cons

Quick access to fundsLower interest rate
Short-term commitmentLimited overall interest earnings

18-23 Months CD

  • Minimum Balance: $1,000.00
  • Interest Rate: 0.87%
  • APY: 0.87%

Considerations: Requires a longer commitment compared to the 3-5-month CD. Quarterly compounding may result in higher total interest earnings.

Pros & Cons

Competitive interest rateRequires a longer commitment
Quarterly compoundingModerate-term lock-in

24-29 Months CD

  • Minimum Balance: $1,000.00
  • Interest Rate: 1.02%
  • APY: 1.02%

Considerations: Longer commitment compared to the 18-23 Months CD. Quarterly compounding may be attractive for those looking to maximize returns.

Pros & Cons

Higher interest rateLonger commitment

36 Months CD

  • Minimum Balance: $1,000.00
  • Interest Rate: 1.27%
  • APY: 1.27%

Considerations: Medium-term commitment with the potential for higher earnings. Quarterly compounding may be advantageous for long-term investors.

Pros & Cons

Competitive interest rateMedium-term commitment
Quarterly compoundingLess liquidity compared to shorter terms

48 Months CD

  • Minimum Balance: $1,000.00
  • Interest Rate: 1.51%
  • APY: 1.52%

Considerations: Longer-term commitment is suitable for those willing to lock in funds for an extended period. Quarterly compounding favors those seeking compounded growth over time.

Pros & Cons

Relatively higher interestExtended lock-in period

Are MC Bank CD Rates Competitive?

MC Bank CD rates exhibit a mix of competitiveness across various terms. For the 3-5 Months CD, the 0.27% interest rate is relatively lower, making it less competitive for short-term investments. However, it caters to individuals seeking quick access to their funds.

In the case of the 18-23-month CD, the 0.87% interest rate is competitive for a moderate-term investment. The quarterly compounding adds to its appeal, providing a balanced approach between commitment and returns.

Similarly, the 24-29-month CD offers a higher interest rate at 1.02%, coupled with quarterly compounding, making it a competitive option for individuals willing to commit to a slightly longer term.

The 36-month CD, with a 1.27% interest rate and quarterly compounding, strikes a balance between competitive returns and a reasonable lock-in period, appealing to those seeking medium-term commitments.

For the 48-month CD, the 1.51% interest rate and quarterly compounding make it a relatively competitive choice for those comfortable with a more extended lock-in period, offering a higher return compared to shorter-term options.

Overview MC Bank 

McBank has locations in Dallas, Hamilton, Goldthwaite, Early, and Hico.

MCBank’s main office is in Goldthwaite and is the 179th largest bank in the state of Texas. Its first branch opened in 1908 and now has 71 employees and four locations in Texas.

Locations MC Bank 

Amelia, Bayou Vista, Covington, Houma, Lafayette, Morgan City Main, Metairie Main, New Orleans, Veterans, Youngsville.

Frequently Asked Questions

What is the minimum balance required for MC Bank’s 3-5-month CD?

The minimum balance required for the 3-5-month CD is $1,000.00.

How often is interest compounded for the 24-29-month CD at MC Bank?

Interest for the 24-29 Months CD is compounded quarterly.

Are MC Bank CD rates competitive for short-term investments?

While the 3-5-month CD has a lower interest rate, it provides a competitive option for those seeking quick access to funds. The competitiveness varies across terms.

Can I withdraw funds from the 48-month CD before the maturity period?

Generally, withdrawing funds from a CD before maturity surely causes or to incur penalties. Thus it is better to go through all the specific terms and conditions of CDs with MC Bank before making any early withdrawals.