Deposit Options

A variety of standard CD terms are available so you can select the ones that best suit your needs.

Earn one rate for each CD maturity which makes reporting and tracking easy and convenient.

CD maturity notice available 10-15 days before maturity. Helpful advanced notice to keep you informed about the maturity period of your investment.

Receive easy-to-read, detailed monthly statements so you can track your holdings in your CDARS account.

$500.00 minimum opening deposit.

Automatic renewal standard for your convenience.

Flexible maturities range from 30 days to 60 months.

Subject to an early withdrawal penalty when principal is withdrawn prior to maturity. 

Savings options that comply with Public Act 20 to ensure deposits are safe and secure.

The interest rate and annual percentage yield on the account will be determined on the day the deposit is accepted. 

Fees could reduce earnings on the account.

$250,000 minimum opening balance.
Tiered interest rate structure. Earn interest and build balances toward your savings goals.

Daily liquidity and access to funds without any long-term commitment – access your funds when you need them.

Convenient online and mobile banking access to your accounts to check balances, statements, and transfer between accounts.

Funds are automatically transferred to corresponding accounts with daily automated sweeps.

$50.00 minimum opening deposit.

$6.00 monthly maintenance fee is waived if you maintain a $35,000.00 average available balance per statement cycle or a combined average available balance greater than $50,000.00.

Combined average available balance in all deposit accounts held in the same legal name and Tax ID at Mercantile Bank is greater than $50,000.00. Qualifying deposit account(s) include any combination of the following business deposit accounts: checking, money market, savings, and certificate of deposit accounts and must reside on the same customer portfolio.

Unlimited monthly transactions.

Unlimited monthly cash deposit allowance.

Unlimited incoming and outgoing wire activity.

Tiered interest rate.

Service charges are subject to change