Merchants Bank of Indiana CD Rates — October 2026
As of October 22, 2026, Merchants Bank of Indiana's highest tracked CD rate is 3.82% APY on a 3-month CD ($1,000 minimum). That is 3.4 times the FDIC national average for 3-month CDs (1.14%). Standard CD rates range from 2.80% to 3.82% APY.
Tracking began .
Merchants Bank of Indiana CD rates
Fixed Rate CDs only, with a $1,000 opening and APY balance requirement. The Prime-linked, variable-rate Flex Index CD is excluded. This institution is separate from First Merchants Bank.
| Term | Product | APY |
|---|---|---|
| 1 month | Fixed Rate CD | 3.15%Verified October 22, 2026 |
| 3 months | Fixed Rate CD | 3.82%Verified October 22, 2026 |
| 6 months | Fixed Rate CD | 3.82%Verified October 22, 2026 |
| 12 months | Fixed Rate CD | 3.25%Verified October 22, 2026 |
| 18 months | Fixed Rate CD | 2.80%Verified October 22, 2026 |
| 24 months | Fixed Rate CD | 2.85%Verified October 22, 2026 |
| 30 months | Fixed Rate CD | 2.90%Verified October 22, 2026 |
| 36 months | Fixed Rate CD | 2.95%Verified October 22, 2026 |
APY = annual percentage yield. "vs. Treasury" compares each APY with the Treasury yield for the same term on 2026-10-21 (converted to APY). Treasury interest is exempt from state income tax; see the T-bill vs. CD calculator.
What are Merchants Bank of Indiana's best CD rates by term?
Merchants Bank of Indiana's best rate is 3.82% APY on 3 months, verified October 22, 2026.
- 1 mo3.15%
- 3 mo3.82%
- 6 mo3.82%
- 12 mo3.25%
- 18 mo2.80%
- 24 mo2.85%
- 30 mo2.90%
- 36 mo2.95%
How much interest could a Merchants Bank of Indiana CD earn?
Estimated interest at maturity for the displayed institution quotes, before tax or early withdrawal penalties. Each estimate assumes the quoted APY applies to that balance and interest stays deposited. Estimates use known deposit tiers. Upper balance limits and membership, relationship or new-money requirements must be confirmed with the institution; these are conditional estimates, not personalized offers.
| Term | $5,000 | $10,000 | $25,000 | $50,000 |
|---|---|---|---|---|
| 3 months | $46.953.82% APY · Fixed Rate CD · Standard | $93.903.82% APY · Fixed Rate CD · Standard | $234.763.82% APY · Fixed Rate CD · Standard | $469.513.82% APY · Fixed Rate CD · Standard |
| 6 months | $94.873.82% APY · Fixed Rate CD · Standard | $189.733.82% APY · Fixed Rate CD · Standard | $474.333.82% APY · Fixed Rate CD · Standard | $948.673.82% APY · Fixed Rate CD · Standard |
| 12 months | $162.503.25% APY · Fixed Rate CD · Standard | $325.003.25% APY · Fixed Rate CD · Standard | $812.503.25% APY · Fixed Rate CD · Standard | $1,625.003.25% APY · Fixed Rate CD · Standard |
| 18 months | $211.662.80% APY · Fixed Rate CD · Standard | $423.322.80% APY · Fixed Rate CD · Standard | $1,058.302.80% APY · Fixed Rate CD · Standard | $2,116.602.80% APY · Fixed Rate CD · Standard |
| 24 months | $289.062.85% APY · Fixed Rate CD · Standard | $578.122.85% APY · Fixed Rate CD · Standard | $1,445.312.85% APY · Fixed Rate CD · Standard | $2,890.612.85% APY · Fixed Rate CD · Standard |
How Merchants Bank of Indiana compares
Compare the displayed terms, minimums and quote locations. Membership, relationship and new-money conditions may apply. Institution quotes below use the exact 91-day term. Regional peers quote a shared operating state; nationwide best is limited to our tracked sample.
This quote ranks 11 of 68 tracked institutions with fresh 91-day quotes (ties share a rank). Each other institution contributes its highest APY for that exact term; minimums and eligibility can differ.
| Institution / benchmark | Term | Minimum | Quote coverage | APY | Verified / source date |
|---|---|---|---|---|---|
| Merchants Bank of Indiana (this institution)Fixed Rate CD · Standard | 3 months | $1,000 | Coverage: IN | 3.82% | October 22, 2026 |
| Popular DirectCertificate of Deposit · Standard | 3 months | $10,000 | Nationwide; check eligibility | 4.30% | October 22, 2026 |
| Bask BankBask Bank Certificate of Deposit · Standard | 3 months | $1,000 | Nationwide; check eligibility | 4.10% | October 22, 2026 |
| EverBankEverBank Performance® CDs · Standard | 3 months | Not stated | Nationwide; check eligibility | 3.60% | October 22, 2026 |
| Newtek Bank (highest tracked APY for this term)Certificate of Deposit · Standard | 3 months | $2,500 | Coverage: FL | 4.60% | October 22, 2026 |
| Treasury (APY-equivalent) | 3 months (term-matched estimate) | Depends on purchase method | Federal; interest exempt from state income tax | 4.29% | 2026-10-21 |
Rate changes
See changes across all tracked institutions
No changes since we started tracking Merchants Bank of Indiana on October 22, 2026.
About Merchants Bank of Indiana
- Legal name
- Merchants Bank of Indiana
- Regulator ID
- FDIC 8056
- Headquarters
- Carmel, IN
- Available in
- IN
- Total assets
- $21.2 billion
- Also known as
- Website
- www.bankmerchants.com
Source: rates read from https://bankmerchants.com/certificates-of-deposit/. See the page text we read.
Frequently asked questions
What is the highest CD rate at Merchants Bank of Indiana?
Among the rates we track, 3.82% APY on a 3-month CD, as of October 22, 2026.
What is the minimum deposit for a Merchants Bank of Indiana CD?
The lowest minimum we found is $1,000.
How does Merchants Bank of Indiana's best CD rate compare with Treasury yields?
3.82% APY is −0.48% versus the 3-month Treasury yield of 4.29% (APY-equivalent) on 2026-10-21. Treasury interest is also exempt from state income tax.
Is 3.82% a good CD rate?
It is 3.4 times the FDIC national average for a similar term (1.14% as of 2026-10-19), which is a deposit-weighted average across all U.S. banks and credit unions. Online banks and promotional CDs often pay several times the national average.
Are Merchants Bank of Indiana CDs insured?
Merchants Bank of Indiana is an FDIC-insured bank (FDIC 8056). Deposits are insured up to $250,000 per depositor, per ownership category.
How often is this page updated?
We check Merchants Bank of Indiana's rate page every day. The rates above were last verified on October 22, 2026.
More bank CD rates
Rates are copied from Merchants Bank of Indiana's website and may change at any time. Confirm terms, minimums and eligibility with Merchants Bank of Indiana before opening an account. This page is not financial advice.