# Merchants Bank of Indiana CD rates

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.

Canonical page: https://apyledger.com/cd-rates/merchants-bank-of-indiana
Institution: Merchants Bank of Indiana (FDIC 8056)
Aliases: 
Status: live
Last verified: 2026-10-22T14:04:57.000Z (October 22, 2026)
Official source: https://bankmerchants.com/certificates-of-deposit/
Coverage: 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.
Treasury comparison date: 2026-10-21. Premiums are percentage points versus the same-term APY-equivalent Treasury yield.

| Product | Kind | Term | Minimum deposit | APY | Quoted location | vs. Treasury | Verified (UTC) | Source snapshot |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fixed Rate CD | standard | 1 month | $1,000 | 3.15% | Not ZIP-priced | −0.98% | 2026-10-22T14:04:57.000Z | [Snapshot 290](https://apyledger.com/snapshots/290) |
| Fixed Rate CD | standard | 3 months | $1,000 | 3.82% | Not ZIP-priced | −0.48% | 2026-10-22T14:04:57.000Z | [Snapshot 290](https://apyledger.com/snapshots/290) |
| Fixed Rate CD | standard | 6 months | $1,000 | 3.82% | Not ZIP-priced | −0.58% | 2026-10-22T14:04:57.000Z | [Snapshot 290](https://apyledger.com/snapshots/290) |
| Fixed Rate CD | standard | 12 months | $1,000 | 3.25% | Not ZIP-priced | −1.32% | 2026-10-22T14:04:57.000Z | [Snapshot 290](https://apyledger.com/snapshots/290) |
| Fixed Rate CD | standard | 18 months | $1,000 | 2.80% | Not ZIP-priced | −1.92% | 2026-10-22T14:04:57.000Z | [Snapshot 290](https://apyledger.com/snapshots/290) |
| Fixed Rate CD | standard | 24 months | $1,000 | 2.85% | Not ZIP-priced | −2.02% | 2026-10-22T14:04:57.000Z | [Snapshot 290](https://apyledger.com/snapshots/290) |
| Fixed Rate CD | standard | 30 months | $1,000 | 2.90% | Not ZIP-priced | −2.01% | 2026-10-22T14:04:57.000Z | [Snapshot 290](https://apyledger.com/snapshots/290) |
| Fixed Rate CD | standard | 36 months | $1,000 | 2.95% | Not ZIP-priced | −2.00% | 2026-10-22T14:04:57.000Z | [Snapshot 290](https://apyledger.com/snapshots/290) |

Rates and eligibility can change. ZIP-specific quotes must not be treated as statewide or nationwide offers. Confirm terms with the institution before opening an account. This is not financial advice.