Midfirst Bank CD Rates
MidFirst Bank offers a large variety of services from basic checking to investment accounts that help you plan for your future. Small and large businesses work with us regularly as well for commercial and small business loans and checking accounts. MidFirst Bank is well known for their mobile banking app which provides most services the branches offer at the touch of a button.
To further add up the enhancements, the CD rates with complete details are stated next;
Midfirst Bank CD Rates Offers
The popular CD offers Midfirst CD bank are;
91-Day Relationship CD
- Minimum Deposit: $1,000
- Access: Branches, online, and mobile
- Security: FDIC insurance up to the maximum amount allowed by law
- Fees: None
- Interest Rate (APY): 0.30%
Considerations: Suitable for short-term investors seeking a quick turnaround on their investment with a relatively lower interest rate.
Pros & Cons
| Pros | Cons |
| Quick turnaround | Low interest rate |
| Low minimum deposit | Short-term investment only |
12-Month Relationship CD
- Minimum Deposit: $1,000
- Access: Branches, online, and mobile
- Security: FDIC insurance up to the maximum amount allowed by law
- Fees: None
- Interest Rate (APY): 5.00%
Considerations: Offers a competitive interest rate for a one-year term, making it attractive for those seeking a balance between short and medium-term investments.
Pros & Cons
| Pros | Cons |
| Competitive interest rate | Medium-term commitment |
18-Month Relationship CD
- Minimum Deposit: $1,000
- Access: Branches, online, and mobile
- Security: FDIC insurance up to the maximum amount allowed by law
- Fees: None
- Interest Rate (APY): 4.60%
Considerations: Balances a slightly longer commitment with a favorable interest rate, making it suitable for investors with a medium-term horizon.
Pros & Cons
| Pros | Cons |
| Stability | Lower interest rate |
24-Month Relationship CD
- Minimum Deposit: $1,000
- Access: Branches, online, and mobile
- Security: FDIC insurance up to the maximum amount allowed by law
- Fees: None
- Interest Rate (APY): 0.95%
Considerations: A two-year term with a lower interest rate, suitable for those looking for a bit more stability and a moderate return.
Pros & Cons
| Pros | Cons |
| Improved interest rate | Longer commitment |
36-Month Relationship CD
- Minimum Deposit: $1,000
- Access: Branches, online, and mobile
- Security: FDIC insurance up to the maximum amount allowed by law
- Fees: None
- Interest Rate (APY): 1.00%
Considerations: Offers a three-year commitment with a slightly improved interest rate, appealing to investors willing to commit for a more extended period.
Pros & Cons
| Pros | Cons |
| Stability | Lower interest rate |
Are Midfirst Bank CD Rates Competitive?
MidFirst Bank CD rates exhibit a mixed competitive landscape. While certain terms, such as the 12-month and 18-month Relationship CDs, offer notably competitive rates, others, like the 91-day and 24-month CDs, fall below industry averages.
The bank’s commitment to no fees, a reasonable minimum deposit requirement, and FDIC insurance provide a solid foundation. Taking the discussion to the other extent, prospective investors should carefully assess individual terms to align with their specific investment horizon, as the competitiveness varies across the spectrum of CD offerings.
Overview Midfirst Bank
MidFirst Bank is the largest privately owned bank in the USA, giving us the chance to offer the customer service of a small bank and the products and services of a large bank. In 2018 we also held the JD Power Award for Highest Retail Banking Customer Satisfaction. The southwest region of MidFirst won again in 2019.
MidFirst Bank believes in helping the community and partnering with organizations that better our hometown. Amongst the organizations supported is UMOM New Day Centers, which are homeless shelters that help families transition from having shelter issues to temporary housing, then permanent affordable housing.
We also proudly sponsor the Boys and Girls Club of Metropolitan Phoenix. We love their organization because of their development programs for youth in elementary to high school which enhances their learning experiences.
MidFirst Bank cares about the youth in our community and sponsors the Beach Ball event for Phoenix Children’s Hospital. The yearly event raises millions of dollars for the hospital operations with a yearly party.
Eligibility
Customers must first become members of Midfirst Bank, which is as simple as signing up and opening a checking or savings account and then making a deposit. Sign-up is also possible online. Give us a call and we can discuss setting up your account and your potential rates for a certificate of deposit.
Locations Midfirst Bank
MidFirst Bank has 84 locations with a heavy concentration in Oklahoma and Arizona and a handful in Colorado.
Frequently Asked Questions
The minimum deposit for MidFirst Bank CDs is $1,000, with special CDs requiring a slightly higher deposit of $5,000.
You can access your MidFirst Bank CD account through branches, online banking, and mobile banking platforms, providing convenient and flexible options.
No, MidFirst Bank CDs do not incur any fees, offering investors a fee-free environment to maximize returns on their investments.
The 12-month Relationship CD has a term of one year and offers a competitive 5.00% Annual Percentage Yield, providing an attractive short to medium-term investment option.
Yes, MidFirst Bank CDs are secure as they are FDIC-insured up to the maximum amount allowed by law, ensuring the safety of your investment.