bank rates

Michigan Deal On 5-, 7-Year CD Rates

Eaton Federal Savings Bank pays 2.52% APY with a $500 minimum deposit.Although Eaton Federal Savings Bank’s 60-month CD rates just squeak past the top nationally available rates on our CD Rates Leaderboard, we’re considering them a win for savers near Michigan’s capital.

Eaton Federal pays 2.52% APY with a $500 minimum deposit.

Virginia’s MainStreet Bank continues to offer 2.50% APY nationwide through its airbanking website ( – but that rate has been nearly untouchable by other banks offering CDs nationally.

For savers interested in a long-term strategy, Eaton Federal also offers 7-year CDs. The bank pays 2.93% APY on these CDs.

You have to be a Michigan resident to buy Eaton Federal’s certificates of deposit, and visit a branch in person.

Eaton Federal ( has five branches in Eaton County, in Charlotte, Eaton Rapids, Grand Ledge, Nashville and Olivet.

See how these returns compare with the best CD rates from scores of banks in our extensive database.

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Comments (1)
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One Existing Comment
  1. Mike Cetera said:
    on September 7th at 09:23 am

    Eaton Federal has cut both its 5- and 7-year CD rates. It’s now paying 2.63% APY on 7-year CD rates and 2.32% APY on 5-year CD rates.