Highest CD Rates in Michigan: 24-Month Term
You may already be aware that certificates of deposit generally pay out higher interest rates than traditional savings accounts, but did you know that the longer the CD, the higher the rate? Financial institutions like customers to keep their money on deposit for as long as possible, so they’ll reward long-term account holders with better interest rates. That means if you’re looking for the best Michigan CD rates, 24-month (2-year) CD accounts are sure to offer the highest rates.
Today’s 2-Year CD Rates in Michigan
To get a better idea of what currently available, here’s a look at the highest, lowest and average 24-month CD rates in Michigan right now:
Number of Accounts Available: 6
Highest Rate: 1.76% APY
Lowest Rate: 0.45% APY
Average Rate: 0.9% APY
Local Banks and Credit Unions with the Best 24-Month CD Rates
The following are the local Michigan financial institutions that are currently offering the highest 24-month CD interest rates:
- Preferred Credit Union: 1.76%
- Peninsula Credit Union: 1.67%
- First General Credit Union - Michigan: 1.5%
- Northpointe Bank: 1.45%
- Michigan Coastal Credit Union: 1.41%
These rates are accurate as of 5/16/11 but are subject to change at any time. To view current 24-month CD rates, visit our Michigan 2-Year CD Rates page.
