Michigan

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Michigan CD Rates – 4-Year

You are viewing rates from banks across Michigan

 

Below are four-year CD Rates from banks in Michigan . Four-Year Certificates of Deposit (CD) are not as popular as the three and five year terms which means the rates often aren’t as competitive. The best four year cd rates are often only marginally above the 3 year rates. Nevertheless, for those who want to lock in a rate for a longer period of time, 4 year cds are worth a look.

MI - November 21, 2024

4 Year CD National Average : 0.81% ?

Banks APY MIN MILES ?

Rate History: 3.75% → 3.60% → 3.30% → 3.75% → 4.00%

| Oct 12, 2022

Service has always been satisfactory. They have my complete trust and endorsement. Great bank in my opinion. Read More

Rate History: 4.80% → 4.65% → 4.55% → 4.26% → 3.85%

| 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

Early Withdrawal Penalty is 180 days interest.
Rate History: 4.65% → 4.55% → 4.20% → 4.05% → 3.80%

| 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

Rate History: 4.05% → 3.95% → 3.75% → 3.55%

| 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

Rate History: 2.50% → 4.00% → 3.40%

| 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

| Mar 20, 2016

Good solid bank. Read More

| 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

Rate History: 2.05% → 2.10% → 2.05%

| Mar 10, 2021

Northpointe -- my most favorite bank -- held their rate when others dropped -- nice people to deal with -- and -- COURAGE + INTEGRITY. Read More

| 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

Rate History: 2.00% → 2.50% → 2.00%

| Jan 2, 2023

Terrible customer service by investment side. Fees too high , too full of themselves Read More

1.30%

$10,000

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1.25%

$10,000

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| 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

1.21%

$10,000

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1.15%

$10,000

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| 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

1.05%

$10,000

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1.00%

$10,000

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1.00%

$100,000

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1.00%

$100,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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0.95%

$10,000

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0.95%

$10,000

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0.90%

$2,500

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0.90%

$10,000

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0.90%

$10,000

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0.90%

$100

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0.90%

$10,000

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0.90%

$10,000

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0.90%

$10,000

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0.80%

$10,000

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0.80%

$10,000

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0.80%

$10,000

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0.80%

$10,000

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0.75%

$100,000

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0.75%

$10,000

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0.75%

$10,000

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0.75%

$10,000

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0.75%

$10,000

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0.75%

$10,000

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0.75%

$10,000

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0.70%

$10,000

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0.70%

$10,000

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0.65%

$10,000

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0.65%

$10,000

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0.65%

$10,000

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0.60%

$500

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0.60%

$10,000

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| 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

0.60%

$10,000

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0.60%

$1,000

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0.55%

$10,000

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0.55%

$10,000

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0.50%

$500

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0.50%

$500

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0.50%

$100,000

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| 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

| 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

0.45%

$500

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0.45%

$500

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0.45%

$100,000

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| 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

0.44%

$10,000

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0.40%

$10,000

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0.40%

$10,000

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0.40%

$10,000

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0.40%

$10,000

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0.40%

$10,000

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| 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

0.35%

$10,000

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0.35%

$10,000

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0.35%

$1,000

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| 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

| 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

0.30%

$10,000

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| 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

| 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

0.25%

$10,000

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0.25%

$10,000

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0.20%

$10,000

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| 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

| 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

Rate History: 0.03% → 0.05%

| 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

| 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

| 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

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

BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

Four Year CDs - Branch Banks 2024

Four year CDs are a longer-term CD and offer a fixed rate for 4 years in return for a commitment to keep the money in the bank for this period of time. While savers can withdraw the money (termed "breaking the CD") high penalties make this undesirable. Generally, an individual should not invest in a four year CD unless they are comfortable parting with the money for this period of time.

Safety

Four year CDs from FDIC insured banks are insured up to FDIC limits (generally $250,000 per account holder per bank). If your deposit is over the FDIC limit then you may not receive the uninsured money in case of a bank failure. For this who remain within FDIC limits, the principal threat is inflation. The value of longer-term CDs are especially prone to be eaten away by inflation, especially if the CD is opened in a rising rate environment.

Interest

Four year CDs currently pay between .40-.60 percentage points more in interest than a one year CD. In general, CDs of this duration are best opened as part of a laddered CD portfolio or if the depositor thinks that rates will either stagnate or drop over the next couple of years. To get a sense of rate trends, please visit our BestCashCow rate analysis page.

ADVANTAGES AND DISADVANTAGES OF FOUR YEAR CDs

Advantages of four year CDs

  • 4 year CDs provide a fixed rate for the term of the CD
  • The rate is higher than a savings account or a 1 year CD to compensate for the longer term.
  • Branch-opened CDs can be done quickly in one day.

Disadvantages of four year CDs

  • The saver's money is locked away for four years unless they want to break the CD and pay a penalty.
  • In a rising rate environment, inflation will reduce the value of the money in the CD over time.
  • Branch CDs require the saver to visit a branch and be subjected to cross-sell pitches and other marketing tactics.

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.

SAVINGS & CD CALCULATOR

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