Midwest Bank helps clients to create a budget that works for them and helps them stick to it. What more could you want out of a bank?

To narrate the significance of Midwest Bank, it has been crowned the Community Commitment Award winner by the American Bankers Association and only goes to show just how committed they are to helping their community.

Let’s find out more about its CD rates term specifications;

Midwest Bank CD Rates Offers

Some of the most considerable CD offers are;

3-Month CD

  • Interest Rate: 1.00%
  • APY: 1.00%
  • Minimum Balance to Earn APY: $1,000


  • Suitable for individuals with a short investment horizon.
  • Limited flexibility due to the short term.

Pros & Cons

Short-term commitmentLimited flexibility due to short duration
Fixed interest rateLower interest rate compared to longer terms

6-Month CD

  • Interest Rate: 1.74%
  • APY: 1.75%
  • Minimum Balance to Earn APY: $1,000


  • Appeals to those seeking a bit more return without committing to a long-term investment.
  • Early withdrawal fees may apply, so consider liquidity needs.

Pros & Cons

Moderate flexibility due to fixed-termEarly withdrawal fees may apply
Balances short and mid-term goalsModerate flexibility due to fixed term

12-Month CD

  • Interest Rate: 4.91%
  • APY: 5.00%
  • Minimum Balance to Earn APY: $1,000


  • Offers a competitive interest rate for a moderate commitment.
  • Ensure you’re comfortable locking in funds for the specified duration.

Pros & Cons

Competitive interest rateFunds locked in for a year
Moderate commitment

48-Month CD

  • Interest Rate: 2.48%
  • APY: 2.50%
  • Minimum Balance to Earn APY: $1,000


  • Offers a more extended investment horizon with a relatively competitive interest rate.
  • Evaluate personal financial goals and liquidity needs before committing.

Pros & Cons

Competitive interest rateLong-term commitment

60-Month CD

  • Interest Rate: 2.53%
  • APY: 2.55%
  • Minimum Balance to Earn APY: $1,000


  • Provides a higher interest rate but requires a long-term commitment.
  • Evaluate future financial needs and potential changes in interest rates.

Pros & Cons

Higher interest rate
Fixed interest rate

Are Midwest Bank CD Rates Competitive?

Midwest Bank offers a range of Certificate of Deposit terms with varying interest rates. One notable aspect of Midwest Bank’s CD offerings is the diversity in terms, ranging from 3 months to 60 months. 

  • The 12-month CD stands out with a competitive interest rate of 4.91%, providing a favorable option for those seeking a moderate commitment with a relatively high return.
  • Additionally, the 48-month and 60-month CDs offer competitive rates at 2.48% and 2.53%, respectively.

These rates compare favorably to industry standards, making Midwest Bank an attractive choice for investors seeking stability and competitive returns.

This provides flexibility for investors with different time horizons and risk tolerances. Short-term options like the 3-month and 6-month CDs are suitable for those needing quick access to funds, while the 48-month and 60-month CDs cater to individuals comfortable with a more extended commitment for potentially higher returns.

Overview Midwest Bank 

Midwest Bank has been around since 1906 and is keen on doing everything it can to help its community. Whether it be your mortgage, line of credit, or even your business loan, Midwest Bank will make sure you are getting the best service possible.

Midwest Bank touts values that are rare to find in most banks nowadays. For example, they believe in forming tight relationships with their clients and their community, they believe in the power of teamwork, they value diversity and inclusion, and more.

Aside from doing what they can to help their community, Midwest Bank also encourages their employees to volunteer at their favorite non-profit organizations. They also teach their community about financial literacy and the importance of being financially stable and encourage those who can donate to some of their favorite charities.

The financial education center formed by Midwest Bank teaches clients about things like buying a home, paying off loans, paying for college, planning for retirement, and more. They will also help clients get back on track to gaining financial strength and being able to gain financial freedom on their own.


You do not have to be a member of Midwest Bank in order to open a CD with them. Being a member does make things easier, however.

Locations Midwest Bank 

Branches in Missouri

The branches in Missouri are:

St. Louis, Oakville, Clayton, Arnold, Fenton, Pagedale, Imperial, Chesterfield, Hazelwood, St, Charles, Crystal City, O’Fallon, De Soto, Lemay, Affton, Sappington, Mehlville, and Crestwood.

Frequently Asked Questions

What happens if I need to withdraw funds before the CD maturity date due to an emergency?

Withdrawing funds from a Midwest Bank CD before the maturity date may result in early withdrawal penalties. These penalties are designed to discourage early access to funds. In cases of emergencies or unexpected financial needs, it’s recommended to contact the bank to discuss the situation.

How is the interest on Midwest Bank CDs paid out – monthly, annually, or at maturity?

The interest payout structure for Midwest Bank CDs varies based on the specific terms of the CD. In some cases, interest may be paid out monthly, while in others, it could be annually or at the CD’s maturity.

Can I choose to reinvest the interest earned from my Midwest Bank CD?

Midwest Bank generally offers the option for customers to reinvest the interest earned from their CD. This can be a strategic choice for individuals looking to maximize their returns over the CD’s term. Customers should inquire about the reinvestment options available at the time of CD opening.

How often is interest compounded on Midwest Bank CDs?

Interest on Midwest Bank CDs is typically compounded at regular intervals, often quarterly. The compounding frequency contributes to the overall yield on the investment.