Best 2-Year CD Rates in Michigan, MI

You are viewing rates from banks across Michigan

Below are two-year Certificates of Deposit (CD) rates from banks in Michigan. Two-year CDs generally offer a higher rate than 1-year CDs but require a longer commitment. Depending on the economy, longer term CDs may or may not offer more premium as the term increases. If you expect rates on bank products to drop, can afford to lock the money away, and feel you are receiving enough premium for the time commitment, then longer-term CDs may be appropriate.

MI - December 24, 2024

2 Year CD National Average : 0.66% ^?

Banks	APY	MIN	MILES ^?
First National Bank of America	4.34%	$1,000	-	Learn More
Rate History: 4.60% → 4.80% → 4.51% → 4.34%
VINCEMUNIZ@Q.COM \| Oct 16, 2020 HAVE BEEN CALLING YOUR MORTGAGE DEPARTMENT ON "ITIN" LOANS AND HAVE NOT GOT A HUMAN PERSON TO ANSWER OR RETURN MY PHONE CALLS. WHAT IS HAPPEN? PLEASE ADVISE. THANK YOU, Read More Reviews (1)
Nicolet National Bank	4.25% 4.00%	$2,500 $2,501	-	Learn More
Rate History: 4.00% → 3.50% → 3.75% → 4.00% → 4.25%
Jim Doe \| Oct 12, 2022 Service has always been satisfactory. They have my complete trust and endorsement. Great bank in my opinion. Read More Reviews (2)
Seattle Bank	4.05%	$1,000	-	Learn More
Early Withdrawal Penalty is 180 days interest. Rate History: 4.75% → 4.75% → 4.40% → 4.30% → 4.05%
Rob H. \| Nov 21, 2023 A real pain in the *** process to try and get approved! They were unable to match my drivers license photo with my live image after several times trying! Went to limelight bank instead and got approved in ... Read More Reviews (2)
North American Savings Bank	3.80%	$5,000	-	Learn More
Rate History: 4.50% → 4.40% → 5.40% → 4.40%
A Terkowitz \| Feb 15, 2024 I have always had great experiences with short-term CDs from this bank. No delays. Read More Reviews (3)
Banesco USA	3.75%	$1,000	-	Learn More
Early Withdrawal Penalty is 180 days interest. Rate History: 0.55% → 0.50% → 3.80% → 3.75%
Dkplan \| Dec 27, 2022 They gave a hard time with their cashier's check. They returned my deposited check that was emitted by them. Could you believe? Read More Reviews (8)
Flagstar Bank, National Association	3.75%	$500	-	Learn More
Rate History: 2.75% → 4.00%
One pissed off home owner \| Aug 24, 2018 Flagstar is nothing but a bunch of bitches and if they think i.m sending this check to them signed they can kiss my fuckin ass. I will let this house fall apart before they make a damn dime of me, How you... Read More Reviews (1)
Mercantile Bank	3.75%	$500	-	Learn More Add Review
Rate History: 3.25% → 4.00% → 3.75%
Capital One, National Association	3.60%	$0	-	Learn More
Rate History: 4.30% → 4.20% → 4.00% → 3.70% → 3.60%
highstream \| Jan 2, 2024 Like others, I've been with Capital One and its predecessor ING Direct since 2007. I've also been getting cheap bank rates on my savings account and didn't realize that there was something better, although... Read More Reviews (14)
Citizens	3.50%	$5,000	-	Learn More
Rate History: 3.75% → 3.50%
Dana E. \| Mar 20, 2016 Good solid bank. Read More Reviews (1)
Sterling Bank and Trust, FSB	3.50%	$500	-	Learn More
samcasino \| Jan 30, 2021 Sterling hasn't offered a 1% rate for over a year. Best one can do now is .20%. The rates shown on this site are grossly outdated. Read More Reviews (1)
Bank of Whittier, National Association	3.36%	$1,000	-	Learn More Add Review
Gateway First Bank	3.35%	$500	-	Learn More
JohnC \| Oct 11, 2020 You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag... Read More Reviews (3)
Blue Foundry Bank	3.25%	$1,000	-	Learn More Add Review
Rate History: 3.50% → 3.25%
JPMorgan Chase Bank, National Association	2.00%	$10,000	-	Learn More
Rate History: 3.00% → 2.50% → 2.00%
Hayley7788d@outlook.com \| Jan 2, 2023 Terrible customer service by investment side. Fees too high , too full of themselves Read More Reviews (18)
Independent Bank	1.92%	$500	-	Learn More Add Review
Rate History: 2.23% → 2.18% → 2.08% → 1.97% → 1.92%
Hingham Institution for Savings	1.75%	$1,000	-	Learn More Add Review
USAA Federal Savings Bank	1.65%	$1,000	-	Learn More
Rate History: 4.40% → 4.00% → 3.85% → 2.60% → 1.65%
RYAN S \| Nov 28, 2022 While USAA was at one point a great option for all your banking needs, the service has deteriorated so much that I'm currently in the process of changing banks after more than 2 decades. The final straw w... Read More Reviews (2)
Northpointe Bank	1.50%	$1,000	-	Learn More
Rate History: 1.50% → 2.00% → 1.50%
pagehelen2@gmail.com \| Mar 10, 2021 Northpointe -- my most favorite bank -- held their rate when others dropped -- nice people to deal with -- and -- COURAGE + INTEGRITY. Read More Reviews (4)
The First National Bank of St. Ignace	1.26%	$100,000	-	Learn More Add Review
Gogebic Range Bank	1.05%	$10,000	-	Learn More Add Review
Mi Bank	1.05%	$10,000	-	Learn More Add Review
The State Savings Bank of Manistique	1.00%	$1,000	-	Learn More Add Review
TD Bank, National Association	1.00%	$10,000	-	Learn More
Rate History: 4.00% → 1.00% → 4.00% → 1.00%
Turonemckinney17@gmail.com \| May 19, 2018 Experience Read More Reviews (1)
Dearborn Federal Savings Bank	1.00%	$10,000	-	Learn More
Braden \| Feb 1, 2023 Absolutely most horrible experience in my life I opened a large CD when I was living in Dearborn and let the interest accrue for about 6 years I knew how much the interest rate was and how much was in the ... Read More Reviews (1)
The First National Bank of St. Ignace	0.95%	$10,000	-	Learn More Add Review
Eaton Federal Savings Bank	0.90%	$10,000	-	Learn More Add Review
The Miners State Bank	0.75%	$10,000	-	Learn More Add Review
IncredibleBank	0.75%	$10,000	-	Learn More Add Review
Peoples State Bank of Munising	0.75%	$10,000	-	Learn More Add Review
Baybank	0.75%	$10,000	-	Learn More Add Review
The First National Bank & Trust Company of Iron Mountain	0.70%	$100,000	-	Learn More Add Review
Northern Interstate Bank, N. A.	0.70%	$1,000	-	Learn More
blueangel \| Jan 6, 2020 Worst customer experience ever. Had a issue with a fee that should not have been there because i had a checking and savings account. I was told once i signed up for checking that if they needed, they woul... Read More Reviews (1)
Superior National Bank & Trust Company	0.70%	$100,000	-	Learn More Add Review
Central Savings Bank	0.70%	$100	-	Learn More Add Review
Waterford Bank, N.A.	0.70%	$10,000	-	Learn More Add Review
Upper Peninsula State Bank	0.65%	$10,000	-	Learn More Add Review
Union Bank	0.65%	$10,000	-	Learn More Add Review
Homestead Savings Bank	0.65%	$10,000	-	Learn More Add Review
The First National Bank & Trust Company of Iron Mountain	0.60%	$1,000	-	Learn More Add Review
Superior National Bank & Trust Company	0.60%	$10,000	-	Learn More Add Review
First Bank, Upper Michigan	0.60%	$10,000	-	Learn More Add Review
Huron National Bank	0.60%	$10,000	-	Learn More Add Review
Mayville State Bank	0.60%	$10,000	-	Learn More Add Review
Commercial Bank	0.55%	$10,000	-	Learn More Add Review
Highpoint Community Bank	0.55%	$100,000	-	Learn More Add Review
Liberty Bank and Trust Company	0.53%	$10,000	-	Learn More Add Review
Kalamazoo County State Bank	0.50%	$10,000	-	Learn More Add Review
Capitol National Bank	0.50%	$500	-	Learn More Add Review
Range Bank, National Association	0.50%	$10,000	-	Learn More Add Review
The Stephenson National Bank and Trust	0.50%	$10,000	-	Learn More Add Review
Charlevoix State Bank	0.50%	$10,000	-	Learn More Add Review
West Shore Bank	0.50%	$10,000	-	Learn More Add Review
United Bank of Michigan	0.50%	$10,000	-	Learn More Add Review
Highpoint Community Bank	0.50%	$10,000	-	Learn More Add Review
Freeland State Bank	0.50%	$10,000	-	Learn More Add Review
The Dart Bank	0.50%	$10,000	-	Learn More Add Review
First State Bank of Decatur	0.50%	$10,000	-	Learn More Add Review
Citibank, National Association	0.50%	$0	-	Learn More
Rate History: 2.00% → 0.50%
Azoic \| Feb 25, 2022 I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account. Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary. Accelerate Savings w... Read More Reviews (11)
Alden State Bank	0.45%	$10,000	-	Learn More Add Review
Lake-Osceola State Bank	0.45%	$10,000	-	Learn More Add Review
Isabella Bank	0.45%	$10,000	-	Learn More Add Review
The Citizens State Bank of Ontonagon	0.40%	$10,000	-	Learn More Add Review
First National Bank of Michigan	0.40%	$100,000	-	Learn More Add Review
G. W. Jones Exchange Bank	0.40%	$10,000	-	Learn More Add Review
CIBC Bank USA	0.40%	$100,000	-	Learn More
me \| Oct 13, 2021 Good for savers. Easy to transfer funds in and out, not paying high transaction processing $ or being limited to low amounts per day. Does not subject applicants to very much ID interrogation and apparent... Read More Reviews (6)
Huron Community Bank	0.38%	$10,000	-	Learn More Add Review
Citizens National Bank of Cheboygan	0.35%	$100,000	-	Learn More Add Review
Horizon Bank	0.35%	$10,000	-	Learn More Add Review
Bay Port State Bank	0.35%	$100,000	-	Learn More Add Review
Oxford Bank	0.35%	$10,000	-	Learn More
Gloria Borchman \| Jul 3, 2023 My niece and I have been customers of the Addison Oaks branch of Oxford Bank for 20 years. My niece is on my accounts and has a separate account of her own. We have performed the same transactions for 20... Read More Reviews (1)
Sturgis Bank & Trust Company	0.35%	$10,000	-	Learn More Add Review
Bank of Ann Arbor	0.35%	$10,000	-	Learn More Add Review
CIBC Bank USA	0.35%	$10,000	-	Learn More
me \| Oct 13, 2021 Good for savers. Easy to transfer funds in and out, not paying high transaction processing $ or being limited to low amounts per day. Does not subject applicants to very much ID interrogation and apparent... Read More Reviews (6)
1st Source Bank	0.32%	$500	-	Learn More Add Review
University Bank	0.30%	$500	-	Learn More Add Review
The First National Bank of Wakefield	0.30%	$10,000	-	Learn More Add Review
State Savings Bank	0.30%	$10,000	-	Learn More Add Review
Citizens National Bank of Cheboygan	0.30%	$10,000	-	Learn More Add Review
Tri-County Bank	0.30%	$500	-	Learn More Add Review
The Shelby State Bank	0.30%	$10,000	-	Learn More Add Review
First National Bank of Michigan	0.30%	$10,000	-	Learn More Add Review
Eastern Michigan Bank	0.30%	$10,000	-	Learn More Add Review
Oxford Bank	0.30%	$100,000	-	Learn More
Gloria Borchman \| Jul 3, 2023 My niece and I have been customers of the Addison Oaks branch of Oxford Bank for 20 years. My niece is on my accounts and has a separate account of her own. We have performed the same transactions for 20... Read More Reviews (1)
Chelsea State Bank	0.30%	$10,000	-	Learn More Add Review
Century Bank and Trust	0.30%	$10,000	-	Learn More Add Review
Blissfield State Bank	0.30%	$1,000	-	Learn More Add Review
Southern Michigan Bank & Trust	0.25%	$500	-	Learn More Add Review
1st State Bank	0.25%	$500	-	Learn More Add Review
ChoiceOne Bank	0.25%	$10,000	-	Learn More
Savvy \| Jul 17, 2020 Terrible experience trying to get a mortgage. I’ve got great credit, have gotten literally dozens of mortgages over the past 40 years. I completed an online application, waited a week and never heard a... Read More Reviews (2)
Macatawa Bank	0.25%	$10,000	-	Learn More Add Review
Bay Port State Bank	0.25%	$10,000	-	Learn More Add Review
Honor Bank	0.20%	$10,000	-	Learn More Add Review
Thumb Bank and Trust	0.20%	$10,000	-	Learn More
J Geiger \| Jun 14, 2022 Compliance officer possibly the rudest person ive every spoken with. Polices changing constantly. One week they do what you need the next week they wont. Complete mess. Not the old Thumb National rude and ... Read More Reviews (1)
Old National Bank	0.20%	$10,000	-	Learn More
jefflockwoodlaw2288@gmail.com \| Jul 18, 2021 I have a neighbor whose mortgage is with ONB. I am licensed to practice law but I am not writing this review as a lawyer, but rather as a heads up if your spouse should happen to die while you owe any mone... Read More Reviews (2)
The Port Austin State Bank	0.20%	$10,000	-	Learn More Add Review
Northstar Bank	0.20%	$1,000	-	Learn More Add Review
First Merchants Bank	0.20%	$100,000	-	Learn More
Squittyrules83 \| Sep 6, 2022 DO NOT TRUST THIS BANK. I caught them Ted handed trying to hold my funds through various methods even going so far as to not allow me to transfer my funds to another bank. I've been banking with them for... Read More Reviews (4)
First State Bank	0.20%	$10,000	-	Learn More Add Review
Premier Bank	0.15%	$500	-	Learn More Add Review
The State Bank	0.15%	$10,000	-	Learn More Add Review
Bank Michigan	0.15%	$10,000	-	Learn More Add Review
First Merchants Bank	0.15%	$10,000	-	Learn More
Squittyrules83 \| Sep 6, 2022 DO NOT TRUST THIS BANK. I caught them Ted handed trying to hold my funds through various methods even going so far as to not allow me to transfer my funds to another bank. I've been banking with them for... Read More Reviews (4)
Comerica Bank	0.10%	$1	-	Learn More
Cory,Baldwin \| Oct 18, 2016 IF the Cd's our that high then way i'm i the last to find out what The apys are. Read More Reviews (1)
Farmers State Bank	0.10%	$10,000	-	Learn More Add Review
KeyBank National Association	0.05%	$2,500	-	Learn More
Rate History: 0.01% → 0.05%
Seeko \| Mar 28, 2023 On line banking gives a confirmation number when paying bills. But it doesn’t confirm that the bill will be paid only that they have the information. Ridiculous. Read More Reviews (2)
U.S. Bank National Association	0.05%	$500	-	Learn More
Ugg \| Jun 12, 2023 US Bank reported me to dult Protective Services because my husband is 85 and I am63. He got sick and went into a nursing hime for 3 months. My husband always handled the financial affairs. I had to take ov... Read More Reviews (2)
PNC Bank, National Association	0.03%	$25,000	-	Learn More
GAM \| May 18, 2019 Had checking and savings for years when living in Philly. Went into PNC 2.35 APY high yield savings. They have thus far maintained rate. Easy web site and great customer phone service. Still maintain check... Read More Reviews (1)
Bank of America, National Association	0.03%	$100,000	-	Learn More
Treasure \| Jul 24, 2023 BOFA is a den of people thieves camouflaged as bank operatives. There’s a soon to be uncovered carrel of money laundry there. They took all my money and don’t want to release it to me for no particular... Read More Reviews (7)

All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

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PRODUCT INFORMATION

Two Year CDs - Branch Banks 2024

Two year CDs, also know as 24 month CDs are an intermediate term product that commits a depositor to keeping their money in the bank for 24 months in return for a fixed rate of return during that period. All two year CDs shown on BestCashCow are FDIC insured.

While two year CDs commit a person to locking their money in for double the time of a 12 month CD, the rate is not double. As a result, a depositor should think about whether the extra rate is worth the extra time commitment.

In general, if rates are rising, it makes sense not to lock up money for an extended period of time.

If rates are falling, then it makes sense to put money into a longer-term instrument to lock-in a higher rate.

Many find opening CDs at local bank is often easier than online. In a branch, a depositor can sign CD documents and initiate a CD in person, and can often get it done faster than mailing a check or initiating a wire transfer in order to get their money to an online bank. Many also appreciate the opportunity to interact face to face with a real human being as opposed to by phone or instant messaging.

The advantages of a two year branch CD are:

A higher rate than 12 month CDs in return for leaving the money in the bank longer.
A fixed rate during the 24 month period.
A generally higher rate for the same term than what can be found in a branch-based bank.
FDIC insurance.
Convenience of opening and managing the CD online.

The disadvantages of a two year branch CDs are:

Rates are generally lower than on the top online savings and CD accounts.
Money is tied up for two years. Removing it early results in significant penalties.
Opening online can often take several days. Problems must be handled online or via the phone as there is no branch.

All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

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Michigan CD Rates – 2-Year

PRODUCT INFORMATION

Two Year CDs - Branch Banks 2024

The advantages of a two year branch CD are:

The disadvantages of a two year branch CDs are:

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