MC Bank CD Rates
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
| Pros | Cons |
| Quick access to funds | Lower interest rate |
| Short-term commitment | Limited 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
| Pros | Cons |
| Competitive interest rate | Requires a longer commitment |
| Quarterly compounding | Moderate-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
| Pros | Cons |
| Higher interest rate | Longer 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
| Pros | Cons |
| Competitive interest rate | Medium-term commitment |
| Quarterly compounding | Less 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
| Pros | Cons |
| Relatively higher interest | Extended 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
The minimum balance required for the 3-5-month CD is $1,000.00.
Interest for the 24-29 Months CD is compounded quarterly.
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.
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.