bank rates

Minnesota Deals: Tiny Banks, Big CD Rates

We couldn’t help but notice the very competitive CD rates small Minnesota banks are offering this summer.

We couldn't help but notice some of the great CD rates small Minnesota banks are offering this summer.Although all of these deals are limited to local customers, and most must be purchased in person, they offer a better return than the best nationally available rates.

Wanda State Bank, with a single location in Wanda, in southwest Minnesota, is a good example of what we’re seeing.

It’s paying 1.66% APY on a 3-month certificate of deposit with a minimum deposit of $7,500 and 1.81% APY on a 6-month CD with a minimum deposit of $10,000.

The First State Bank of Alexandria, with branches in Alexandria, Carlos and Miltona, is paying 1.80% APY on a 12-month CD with a minimum deposit of $500.

Randall State Bank, with a single location in the central Minnesota town of Randall, is paying 2.27% APY on a 24-month CD with a minimum deposit of $500.

Compare those offers to the best nationally available CD rates. You’ll see how good they are.

Or see how they stack up with the best CD rates from scores of other banks in our extensive database.

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  1. DealMaven said:
    on July 8th at 11:48 am

    The link to the leaderboard gives you the best CD rates available as of July 6. There have been no changes since then.