Interest rates on Merrick Bank CDs offer competitive interest rates. The rates are competitive with other online CDs. They are much higher than other brick and mortar bank rates.

Merrick Bank offers personal credit cards. They offer a Secured Visa credit card specifically to build or rebuild customer’s credit. They also offer a Platinum Visa for customers who have better credit. Each credit card comes with Zero Liability for Unauthorized Use and account alerts.

Merrick Bank is an online account. Once you are approved to open a CD everything else for your account is online or on the mobile app. You can deposit or withdraw money from the CD during the grace period or at maturity.

The Merrick Bank 12-month CD term offers competitive interest rates. The interest you earn is credited to your account each month. You can watch your money grow. You can withdraw money from your CD during the grace period or once the CD reaches maturity.

To open a CD through Merrick Bank requires a large sum. The 12-month CD requires $25,000 to open the account. The opening deposit must be one transaction. Deposit money electronically through a linked bank account.

When applying for a CD with Merrick Bank, you must qualify. Each CD is carefully reviewed. Acceptance to open a CD is based on the person's credit. If you do not meet the set criteria, you cannot open an account with Merrick Bank. If you receive an offer in the mail, you are eligible to open a CD.

After you apply for an account with Merrick Bank, you will receive a letter in the mail. This will inform you if you qualified for an account or not. The letter takes two to three weeks to receive. If after the allotted time you have not heard from Merrick Bank, you can call customer service.

Merrick Bank offers a limited amount of personal deposit accounts. Only one 12-month CD is available. They do offer personal credit cards and lending options. This bank helps customers build or rebuild their credit. To open an account, you must qualify.

Read the full Merrick Bank review.

CIBC offers a variety of accounts. These accounts include:

• iCan checking
• myChoice checking
• myChoice Prestige checking
• CIBC savings
• Agility savings
• CIBC money market
• CD terms
• Agility CDs 9, 12, 18, and 24-month terms
• Personal lending and retirement options
• Commercial and small business accounts and lending options

The CIBC Agility savings account offers competitive interest rates. This savings account requires $1,000 to open and does not have a monthly fee. The CIBC Agility savings account is an online-only account. The interest rates are competitive with other online-only savings accounts. They are much higher than typical brick-and-mortar banks.

CIBC accounts have low opening required amounts. The MMA and personal savings account require $50 to open the account. You must open these accounts at a branch location. The online savings account requires $1,000 to open. Regular CDs require $1,000 to open.

The myChoice checking account offers an interest rate bonus. This allows you to earn higher interest rates on your checking account balance. To earn the higher rates, you must meet a set amount. The amounts can come from a total of qualifying CIBC accounts. Those include myChoice checking account, money market and savings accounts. CDs and principal balances on personal loans count toward the balance total also. The more money you have in the accounts, the higher the bonus rate you receive.

Only one CIBC checking account earns interest. The CIBC myChoice Checking account is the interest-earning account. You must open this account at a branch location. If you have less than $5,000 in the account, there is a monthly fee.

Interest rates for CIBC accounts are not listed online. Only one CIBC savings account lists the interest rate for the account. The CIBC Agility offers competitive interest rates. The other CIBC accounts do not list the interest rates earned for their accounts. To open those accounts, you must visit a branch location.

Not all CIBC accounts can be opened online. To open a checking or savings account, or CDs, you must visit a branch location. CIBC has 46 branch locations in 19 states. The only accounts you can open online are the CIBC Agility savings account and Agility CDs. Those terms include 9, 12, 18, and 24-month terms

Most CIBC accounts have a monthly fee. To waive the fee, you must keep a set amount in the account. To avoid the checking account fees, you must have over $1,000 in the iCan account and $5,000 in the myChoice account. The savings account requires $250 to waive the fee, and the MMA requires $2,500.

Read the full CIBC Bank USA review.