bank rates

Earn Nearly 2% From This 4-Year CD Deal

UPDATE 4/24/15: MidFirst is now paying 1.75% APY on its 48-month CD.

UPDATE 1/23/15: MidFirst has just lowered its 48-month rate to 1.85% APY.

MidFirst Direct is one of a handful of online banks always on our radar – and that pays off for savers every so often.

This time around, the online division of Oklahoma City-based MidFirst Bank is paying 1.95% APY for 48-month CDs with a minimum deposit of $1,000.

We don’t track the 48-month term daily for our CD Rates Leaderboard, but this CD rate is miles ahead of the top nationally available 36-month CD rate.

The 36-month term has been one of the slowest to rebound. Its lead rate – a 1.50% APY offering from Nationwide Bank – is less than the lead 24-month CD rate.

That makes a 48-month CD like this one pretty attractive.

You can only buy MidFirst Direct’s certificates of deposit if you live in Arkansas, Arizona, California, Florida, Missouri, Nevada, New Hampshire, New York, Oklahoma, Texas or Wyoming.

MidFirst Bank has branches in Oklahoma as well as Phoenix. But the CD rates available through bricks-and-mortar branches aren’t nearly as good as this online offering.

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