CDs (Certificates of Deposits) & IRAs

Certificates of Deposit

Certificates of Deposit (CDs) are time deposits that traditionally pay a higher rate of interest than demand deposits (checking or savings). CDs require that funds are left on deposit for a specific length of time and a substantial penalty may be assessed for early withdrawal.

  • Choose your certificate from a wide range of rates and terms ranging from 7 days to 60 months
  • Minimum deposit amounts vary between $500 and $10,000
  • Contact our Customer Service Representatives for more details about these and other investment opportunities.

Check our Current Rates

Individual Retirement Accounts (IRAs)

IRAs are time deposits that traditionally pay a higher rate of interest than demand deposits. IRAs require that funds are left on deposit for a specific length of time and a substantial penalty may be assessed for early withdrawal. Penalties however are not assessed for early withdrawals upon reaching the age of 59 1/2. Depending on individual eligibility, IRAs may also offer tax benefits* to the investor.

Midland offers a wide array of IRA investment options:

  • Traditional IRA: Tax deferred earnings* with deductible contributions
  • Roth IRA: Tax free earnings* with non-deductible contributions
  • Coverdell (Education IRA): Education savings program made with after-tax contributions. Earnings are tax-free* if used for qualifying reasons

Choose your IRA certificate from a wide range of rates and terms ranging from 6 months to 60 months.

The minimum opening deposit amount is only $500 on all IRA accounts.

Contact our Customer Service Representatives for more details about these and other investment opportunities.

Check our Current Rates

Notice for all Midland CD & IRA Customers: 

We use the daily balance method to calculate the interest on these accounts. This method applies a daily periodic rate to the principal in the account each day. Interest is calculated on the average collected balance on all interest bearing deposit accounts. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). A penalty may be imposed for early withdrawal.

*Please consult with a professional tax advisor or legal professional for advice on IRA eligibility, contribution limitations and tax implications.