Mercantile Bank CD Rates, Savings & MMA, Mortgage & Loan Rates, Reviews

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Today's 12-month CD rates can be found at 1.01%, 6-month CD rates at 3.67% and 3-month CD rates at 3.00%. Current savings rates are at 0.05% and money market rates are at 2.60%. Mortgage rates today on 30-year fixed loans are around 6.95%. Credit Card rates are at 9.20%. Personal Loan rates are at 10.20%. All these rates, and more, can be found in our database of rates. Mercantile Bank's 12-Month CD rates are at 5.00%, 6-Month CD rates are at 4.75%, 18-Month CD rates are at 4.00%, 24-Month CD rates are at 3.25%, 60-Month CD rates are at 2.75%.

Mercantile Bank

To see how these rates compare to Mercantile Bank CD rates, feel free to use our comprehensive rate tables for side-by-side comparisons of CD rates from Mercantile Bank, savings rates and money market rates, with rates from other banks and credit unions below. You can use our bank rate lists to compare CD rates for all CD terms, with Mercantile Bank CD rates. You can also compare Mercantile Bank savings rates, MMA rates and mortgage rates using our other rate lists.

Mercantile Bank money market rates, and other rates, are continually updated to reflect market conditions, we recommend checking back frequently to get the best money market rates and other rates available. Have you opened an account or have any experiences at Mercantile Bank? Share your experience about Mercantile Bank by leaving a review below, or read customer reviews before you decide to use Mercantile Bank.

Mercantile Bank Texas Ratio

Mercantile Bank's Texas Ratio is at 0.30%, which is considered excellent. The Texas Ratio for Mercantile Bank is lower than the national average of all banks, currently at 6.24%. The Texas Ratio was developed in the early 1980s, and it is used to identify potential problem banks. Banks that have a Texas Ratio of 100% or more have a high chance of failing.

Overall, Mercantile Bank is an excellent bank worth considering, with an overall rating of 5 stars out of 5 stars.

Rate
APY/APR
vs Avg
12-Month CD
5.00%
18-Month CD
4.00%
24-Month CD
3.25%
36-Month CD
2.50%
48-Month CD
2.50%
60-Month CD
2.75%
Savings
N/A
MMA
N/A
30-Year Fixed
N/A
Credit Card
N/A
Personal Loan
N/A
Mercantile Bank
310 Leonard St Nw
Grand Rapids, MI 49504
Member FDIC
MonitorBankRates' Rating
5/5
★★★★★

Mercantile Bank CD Rates and Interest Rates

Bank
Product
APY
Min Dep
Mercantile Bank
Mercantile Bank
12-Month CD
5.00%
$500
Mercantile Bank
Mercantile Bank
6-Month CD
4.75%
$500
Mercantile Bank
Mercantile Bank
18-Month CD
4.00%
$500
Mercantile Bank
Mercantile Bank
24-Month CD
3.25%
$500
Mercantile Bank
Mercantile Bank
60-Month CD
2.75%
$500
Mercantile Bank
Mercantile Bank
36-Month CD
2.50%
$500
Mercantile Bank
Mercantile Bank
48-Month CD
2.50%
$500
Mercantile Bank
Mercantile Bank
3-Month CD
2.00%
$500
Mercantile Bank
Mercantile Bank
1-Month CD
0.50%
$500
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The Annual Percentage Yields (APYs) displayed are based on the highest APY offered for the specified deposit amount or less. Rates may change without prior notice. The "Min. Balance" indicates the minimum amount required to earn the stated APY. Please note that some of the offers presented on this site are from advertisers, who provide compensation for their inclusion. However, these advertised offers do not encompass all available deposit accounts.

Compare Mercantile Bank Rates with Other Competitive Bank and Credit Union Rates

Bank
Product
APY
Min Dep
First Arkansas Bank and Trust
First Arkansas Bank and Trust
Money Market Savings
5.12%
$250,000
Machias Savings Bank
Machias Savings Bank
7-Month CD special
5.00%
$500
First Bank Creve Coeur, MO
First Bank Creve Coeur, MO
13-Month CD promo special
4.85%
$1,000
Citizens First Bank Viroqua, WI
Citizens First Bank Viroqua, WI
15-Month CD
4.60%
$10,000
Forte Bank
Forte Bank
15-Month CD special
4.58%
$1,000
The Huntington National Bank
The Huntington National Bank
Money Market (Non-Relationship)
4.49%
$25,000
Freedom Bank of Southern Missouri
Freedom Bank of Southern Missouri
3-Month CD
4.11%
$1,000
Mid-America Bank
Mid-America Bank
48-Month CD
4.04%
$500
S&T Bank
S&T Bank
12-Month CD
4.00%
$500
Bank of Wolcott
Bank of Wolcott
60-Month CD
3.85%
$5,000
The Corner Stone Bank
The Corner Stone Bank
36-Month CD
3.82%
$1,000
FSB of Golva
FSB of Golva
36-Month CD
3.80%
$1,000
Unison Bank
Unison Bank
18-Month CD
3.51%
$2,500
Capitol Federal Savings Bank
Capitol Federal Savings Bank
48-Month CD
3.50%
$1,000
Great Midwest Bank
Great Midwest Bank
60-Month CD
3.00%
$5,000
Citizens National Bank of Albion
Citizens National Bank of Albion
18-Month CD
2.57%
$1,000
Itasca Bank & Trust Co.
Itasca Bank & Trust Co.
24-Month CD
2.53%
$1,000
MCT Credit Union
MCT Credit Union
Sprout Savings
2.50%
$5
KeySavings Bank
KeySavings Bank
30-Month CD
2.27%
$500
Hardin County SB
Hardin County SB
Christmas Club
2.25%
$10
Thomaston Savings Bank
Thomaston Savings Bank
24-Month CD
2.25%
$1,000
Sloan State Bank
Sloan State Bank
36-Month CD
2.12%
$1,000
Huron Valley State Bank
Huron Valley State Bank
60-Month CD
2.02%
$500
First Security Bank of Deer Lodge
First Security Bank of Deer Lodge
48-Month CD
2.02%
$1,000
Longview Bank
Longview Bank
48-Month CD
2.00%
$500
Southwest National Bank
Southwest National Bank
60-Month CD
2.00%
$500
Forward Bank
Forward Bank
48-Month CD
1.66%
$500
Frontier Bank Sioux Falls, SD
Frontier Bank Sioux Falls, SD
24-Month CD
1.65%
$1,000
Oakwood Bank Pigeon Falls, WI
Oakwood Bank Pigeon Falls, WI
Money Market
1.51%
$25,000
Pittsfield Co-operative Bank
Pittsfield Co-operative Bank
24-Month CD
1.25%
$500
Fayette Savings Bank, SSB
Fayette Savings Bank, SSB
24-Month CD
1.20%
$1,000
BankOrion
BankOrion
60-Month CD
1.10%
$500
First Bank Waverly, IA
First Bank Waverly, IA
Holiday Savings Account
1.00%
$0
Grove Bank
Grove Bank
Savings Account
1.00%
$50
Hardin County SB
Hardin County SB
Super Savings Account
1.00%
$2,500
Kennebec Savings Bank
Kennebec Savings Bank
48-Month CD
0.95%
$500
Maspeth Federal S&L
Maspeth Federal S&L
Money Market
0.50%
$2,500
Community National Bank (VT)
Community National Bank (VT)
12-Month CD
0.49%
$2,500
Round Top State Bank
Round Top State Bank
Money Market Fund
0.35%
$2,500
Savings Bank Wakefield, MA
Savings Bank Wakefield, MA
60-Month CD
0.30%
$100
VisionBank Of Iowa
VisionBank Of Iowa
Savings Account
0.30%
$100
State Bank Freeport, IL
State Bank Freeport, IL
25-Month CD
0.25%
$1,000
Buckeye Community Bank
Buckeye Community Bank
18-Month CD
0.20%
$500
United Southern Bank
United Southern Bank
12-Month CD
0.15%
$1,000
Town & Country B&T Co.
Town & Country B&T Co.
6-Month CD
0.15%
$1,000
Blupeak Credit Union
Blupeak Credit Union
Regular Savings
0.05%
$5
Walden Savings Bank
Walden Savings Bank
Passbook Savings
0.05%
$50
Superior National Bank
Superior National Bank
Personal Money Market Tier 1
0.05%
$0
Gogebic Range Bank
Gogebic Range Bank
Savings Account
0.03%
$100
Profile Bank
Profile Bank
Passbook Savings Account
0.03%
$25
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The Annual Percentage Yields (APYs) displayed are based on the highest APY offered for the specified deposit amount or less. Rates may change without prior notice. The "Min. Balance" indicates the minimum amount required to earn the stated APY. Please note that some of the offers presented on this site are from advertisers, who provide compensation for their inclusion. However, these advertised offers do not encompass all available deposit accounts.

Mortgage Rates April 22, 2024

Lender
Product
Rate
APR
Points
4.500%
4.666%
0.000
4.650%
4.766%
0.000
4.990%
5.287%
0.500
5.500%
5.570%
0.000
5.500%
5.614%
0.000
10-Year Power Rate Fixed
5.954%
5.625%
0.000
15-Year Fixed
5.625%
5.681%
0.000
5.500%
5.716%
0.500
15-Year Power Rate Fixed
5.974%
5.750%
0.000
5.625%
5.777%
0.500
5.500%
5.820%
0.000
5.750%
5.834%
0.000
5.500%
5.868%
2.000
5.750%
5.883%
0.500
5.750%
5.886%
0.000
6.000%
5.892%
0.000
10-Year Fixed (LTV 90% or less)
5.675%
5.894%
0.000
5.625%
5.909%
1.000
5.750%
5.946%
0.250
5.875%
5.958%
0.000
5.875%
5.958%
0.000
5-Year ARM (LTV 80% or less)
6.250%
5.963%
0.000
Show More

The mortgage rates presented are solely intended for informational use. Please consult the mentioned lenders for up-to-date mortgage rates. The actual mortgage rates and other loan conditions depend on the lender's approval and are not guaranteed.

Mercantile Bank Information

Mercantile Bank
310 Leonard St Nw
Grand Rapids, MI 49504
Kent
Established Date: 12/15/1997
FDIC Certificate #: 34598
Date of FDIC Deposit Insurance: 12/15/1997
Bank Holding Company: MERCANTILE BANK CORP
How Many Domestic U.S. Offices? 43
How Many Branches are There? 44
Is Mercantile Bank FDIC Insured? Yes
What is Mercantile Bank's Cert number? 34598
What is the maximum amount for insured deposits? $250,000 per holder, per account

Mercantile Bank Financials

Total Assets:
$4,876,281,000
Total Deposits:
$3,615,145,000
Equity Capital:
$569,724,000
Domestic Deposits:
$3,615,145,000
Net Income:
$23,552,000
Return on Assets:
1.2006%
Quarterly Return on Assets:
1.9400%
Pretax Return on Assets:
2.4132%
Pretax Quarterly Return on Assets:
2.4100%
Return on Equity:
11.4800%
Quarterly Return on Equity:
16.9200%
Common Equity Tier 1 Capital Ratio:
12.4769%
Tier 1 Risk-Based Capital Ratio:
12.4769%
Leverage Tier 1 (Core Capital) Ratio:
11.0807%
Total Risk-Based Capital Ratio (YTD):
13.3507%
Total Interest Income (YTD):
3.4424%
 
 
Headquarters:
Grand Rapids
FDIC Field Office:
Detroit
Regulator:
FDIC
County:
Kent
# of Offices:
43
Metropolitan Statistical Area (MSA):
Grand Rapids-Kentwood, MI
Consolidated Metropolitan Statistical Area (CMSA):
OTS Region:
Central
FDIC Region:
Chicago
Source: FDIC

Both Average and Best Certificate of Deposit Rates Increase

The good news for CD rates continues, average certificate of deposit rates and the best CD rates moved higher this week. A few banks and credit unions increased shorter term CD rates, this move sent average 1 year and 2 year rates higher.The current average 1 year CD rate is now at 1.08 percent, up 2 basis point from last week's average of 1.06 percent. Over the past 6 months, average 1 year rates increased 12 basis points. The increase might not sound like much but on a percentage basis, the increase is 12.5 percent.2 year CD rates are averaging 1.18 percent, up 1 basis point from last week's average of 1.17 percent. 6 months ago, average 2 year rates were at 1.07 percent, 11 basis points lower. This is a 10.28 percent increase.     Read more...

Unemployment Report Falls to 5.8% are Higher CD Rates on the Way?

Another economic report was released this morning showing an economy continuing to recover. This recovery process will eventually force CD rates higher. The Labor Department just released non-farm payrolls showing that 214,000 jobs were created in October, slightly lower than forecasts of 231,000. The unemployment rate fell from 5.9 percent to 5.8 percent, which is the lowest point in six years. The number of jobs created were slightly lower than forecast but the recovery remains intact.The unemployment rate continues to fall, which will eventually force employers to increase wages to attract and retain employees. The key number to look for which will force the Federal Reserve to increase interest rates is hourly average wages. Average hourly wages are at $20.70, up from the average of $20.25 in October 2013. Over the past year, hourly average wages are up 2.00 percent.The Federal Reserve has forecast the need to increase the fed funds rate sometime in 2015. Exactly when the rate is increased depends primarily on the inflation rate. Once the Fed increases the fed funds rate, banks will follow with higher deposit rates. Over the past several months, bank CD rates have been moving higher as some banks increased their rates.     Read more...

Best CD Rates This Week as Higher Rates Sooner Than Later a Possibility

CD rates were mixed this week as Federal Reserve Chairperson, Janet Yellen, hinted that interest rates could be increased sooner than later. Janet Yellen testified before the Senate Banking Committee recently and basically said if the unemployment rate falls further, the Fed might have to raise rates sooner than thought.1 year CD rates are higher this week averaging 0.91 percent, up 1 basis point from last week's average rate of 0.90 percent. 2 year CD interest rates are slightly lower averaging 1.08 percent, a decline from last week's average rate of 1.09 percent. 5 year rates remained unchanged at 1.74 percent.While average rates remained nearly unchanged, several banks have increased both their short term and long term CD rates. Listed below are the most current CD rates at banks in the United States.     Read more...

Banks Raising CD Rates: Best Rates July 5, 2014

More and more banks are starting to increase the rates they pay on certificates of deposit. The increases are not large or widespread but nonetheless moving higher. Any across the board increase will have to wait until the Federal Reserve Bank increases the federal funds rate. Listed below are the highest CD rates this week for certificates of deposit with terms of 3 months to 5 years.Best 3 Month Bank CD Interest Rates

Year Ending 2013 List of the Best CD Rates

Ending 2013, some banks are increasing long term CD rates to compete with higher long term bond yields. For the past three months of 2013, about half a dozen banks have increased long term CD rates on our rate list. The same can't be said for shorter term CD rates because shorter term bond rates haven't increased and the Federal Reserve hasn't increased the federal funds rate.One credit union in our database of rates has sharply increased the rates they pay on long term certificates. Pentagon Federal Credit Union increased their 5 year and 7 year "money market certificates"  to over 3.00 percent, which is much higher than any other comparable terms in our database. In fact, PenFed now has the best CD rates in our database for terms of 1 year to 5 years.

Direction of CD Rates in 2014

    Read more...

Best Short Term Bank CD Rates December 9

Below is a list of the best CD rates for this week for short term certificates of deposit. I recommend staying invested in shorter term CDs because interest rates are moving higher in 2014. Don't lock into a long term CD account now and miss out on higher CD rates in the near future.

CD Rates

Best 12 Month CD Rates

    Read more...

CD Rate Report November 29, 2013

You might have seen this headlines this past week that some banks are considering charging depositors for deposits. Banks are considering this, threatening if you ask me, because the Federal Reserve has mentioned cutting the 0.25 percent rate of interest on the $2.4 trillion in reserves banks hold at the Federal reserve.  CD rates remain stable in this week's report, no big changes in average rates and the best CD rates available.The CD rate reports listed below are only for shorter term certificates of deposit. We recommend staying invested in shorter term CD accounts right now because CD rates at banks will be moving higher sometime in the second half of 2014. Any long term CD accounts that are maturing between now and next year should be invested in new shorter term accounts.

3 Month CD Rate Report

    Read more...

Best 18 Month CD Rates

best-18-month-cd-ratesCertificate of deposit rates and yields have been heading down all year long. Finding the highest CD rates takes a lot of research.Currently, 18 month CD rates are averaging 1.29 percent but you can find better rates than the average CD rate.MetLife Bank is offering one of the best CD rates available for an 18 month CD if you have $25,000 or more to deposit. The bank's current annual percentage yield is 2.15 percent.     Read more...

Explore Other Rate Deals

AloStar Bank of Commerce recently increased their short and intermediate term CD rates. With this round of CD rate increases, AloStar Bank of Commerce is tied with Colorado FSB for the top 1 year rate in our database at 1.34 percent with a yield of 1.35 percent.

Mortgage rates are lower today, 30 year mortgage rates are almost back down to the 4.00% level at 4.03%, down from yesterday's average 30 year mortgage rate of 4.07%. 15 year mortgage rates today are also lower averaging 3.33%, down from yesterday’s average 15 year mortgage rate of 3.35%.  
Mortgage rates dropped again this past week. Rates for 15-year mortgages are now under 4.50 percent and 30-year mortgage rates stayed under 5 percent. Freddie Mac's survey this week showed rates for 30-year fixed rate mortgages fell 0.6 percent to 4.82 percent from 4.88 percent. Mortgage rates for 15-year fixed rate mortgages also fell from 4.54 percent to 4.48 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 4.88 percent this week, down from last week when it averaged 4.93 percent. For one-year Treasury-indexed ARMs average rate went up this past week to 4.91 percent from last week's average of 4.83 percent.

Bank or Credit Union Offers and Deals

Basics of Investing Your Money: Stocks, Bonds, and Deposit Accounts
Low Introductory Rate Credit Cards Averaging 0.698%
American Bank Money Market Account Rates now at 0.10%
AmTrust Direct Online Savings Account
Investors Fear Equities and Hold Cash Despite Low Savings Rates
CDs and Savings Accounts, Low Return Until the End of 2014
Mortgage Rates Will Stabilize- The Fed Leaves Interest Rates Alone
Current Mortgage Rates Back to 5.00% - Freddie Mac
Mortgage Rates Today Higher on Higher Treasury Yields
Mortgage Rates Decline this Week: 30 Year Conventional Rates Averaging 3.94%

Alternative Bank and Credit Union Offers to Explore

Weekly CD Rate Report
Refinance Rates and Mortgage Rates Higher This Week: 30 Year Conforming Mortgage Rates Averaging 4.49%, 30 Year Jumbo Mortgage Rates Averaging 5.02%
Mortgage Rates Move Slightly Higher
When is the Best Time to Refinance a Mortgage?
LightPoint Mortgage Company Mortgage Rates
Mortgage Rates: Average Mortgage Rate Mixed
Mortgage Refinance Rates Jump Higher - 30 Year Refinance Rates at 5.25%
Refinance Rates Stabilize: 30 Year Refinance Rates at 5.12%
Ally Bank Savings Rate Hits New High for 2019
Mortgage Rates Rise Following Bond Yields Higher on Record U.S. Exports: 30 Year Mortgage Rates at 4.53%

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