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Rising Bank CD Review

How does your bank stack up?

  • Financial Rates: 5.0 Star Icon
  • Customer Service: 2.0 Star Icon
  • Variety of Terms: 4.0 Star Icon
  • Opening Required Amount: 4.0 Star Icon


  • Regular CDs have low opening amounts
  • Competitive interest rates on CDs
  • Can open accounts online
  • Rising CDs offers rate increase


  • Limited CD terms available
  • High opening amounts for some CDs
  • Interest credits every three months
  • Limited ways to reach customer service

What You Need to Know

The regular CDs offered through Rising Bank have low opening required amounts. These CDs only require $1,000 to open. You must keep this amount in the CD to earn interest. If your account balance falls below $1,000, your CD will not earn interest.

The interest rates for Rising Bank CDs are competitive. Their rates are higher than typical bank CD rates. Rising Bank rates are competitive with other online CDs of the same term length. The CDs do not have tiered interest rates. Any amount over the required opening deposit earns competitive interest rates.

Rising Bank is a completely online bank. You can open any of their accounts online. The process of opening an account is entirely online. They offer a high yield savings account and CDs. The CD terms range from one-year to three-year terms. The CDs come in regular, jumbo, and Rising CDs.

Rising Bank offers a Rising CD. These CDs come in 18-month and 36-month terms. If the interest rates increase during the CDs term, you can increase your CDs interest rate. Once the rate increases, you can also add money to your CD. You can increase your rate once during the 18-month CD term and twice during the 36-month CD term.

Rising Bank offers different types of CDs, but they do not offer a wide variety of term lengths. In the regular CDs, they only offer a one-year, two-year, and three-year CD. The jumbo CDs are available in a two-year term. The Rising CDs are available in 18-month and 36-month terms.

Rising Bank CDs and jumbo CDs have high opening amounts. The Rising CDs require $25,000 to open. The jumbo CD requires $100,000 to open. You must keep these balances in the account to earn interest. If your balance falls below this amount, you will not earn interest.

The interest earned on Rising Bank CDs credits to your account every three months. When the interest is credited, the money is added to your CD amount. If you close your CD before interest credits to your account, you will not receive the interest earned.

Because Rising Bank is an online bank, there are no branch locations. You can only reach customer service through email or telephone. Their website says their customer service is personalized to each customer. The ways to reach customer service is just limited.

Cool Things

Financial Calculators

The Rising Bank website offers a variety of financial calculators. Retirement, mortgage, and personal savings calculators are available. You can calculate your net worth or see how spending less will help your budget. You can see how to set savings goals and increase your emergency savings.


Rising Bank is an online division of Midwest BankCentre that started in 2018. Rising Bank offers a high yield savings account and CD terms. They offer regular CDs, one jumbo CD, and two Rising CDs.

Midwest BankCentre started in 1906. The original name was Lemay Ferry Bank. It was not until 2000 that the named changed to Midwest BankCentre. Midwest BankCentre is in St. Louis, Missouri.

Frequently Asked Questions

Is Rising Bank FDIC insured?

Yes. Rising Bank is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How many different terms does Rising Bank offer?

The regular CD terms offer a one, two, and three-year term. The jumbo CD is available in a two-year CD term. The Rising CD terms are 18-month and 36-months.

What is the required amount to open a CD with Rising Bank?

The regular CDs require $1,000 to open. The Rising CDs require $25,000 to open. The jumbo CD requires $100,000 to open.

How do I deposit money into Rising Bank CDs?

Direct deposit or electronic transfers. You can transfer money from the Rising Bank savings account or another bank Midwest BankCentre account. You can also mail in a check.

How do I access my money?

Through electronic transfers.

Do I have to open other Rising Bank accounts before I can open a CD?

No. You can open a CD without opening any other accounts.

Do Rising Bank CDs offer competitive interest rates?

Yes. Each of the CDs offer competitive interest rates. The rates are competitive with other online CD accounts.

Can I choose how to receive my interest payments from Rising Bank CDs?

Interest credits to the CD every three months.

What percentage am I charged if I withdraw money before the maturity date?

The regular 12-month CD requires 90 days of interest. The 18-month, 24-month, and 36-month CDs require 180 days of interest. The jumbo CD also requires 180 days of interest. The interest is on the amount of money withdrawn.

How do I make changes during the grace period?

Contact customer service to make changes to your account or withdraw the money.

How will I know my Rising Bank CD is nearing maturity?

You must contact customer service to find out when your CD is reaching maturity.

How long is the grace period between renewal?

The grace period is ten days after the CD reaches maturity.

Are Rising Bank CD rates guaranteed for the entire term?

Yes. The interest rates for Rising Bank CDs are guaranteed for the entire CD term. The Rising CDs allow you to increase your interest rate during the CD term.

Does Rising Bank offer mobile banking?

Yes. You can download the mobile app or access the website on your smartphone. Mobile banking allows you to transfer money. Make transfers between Rising Bank accounts or Midwest BankCentre accounts. You can also see account information through the website and app.

Is Rising Bank a good bank?

Rising Bank accounts offer competitive interest rates. Their regular CDs have low opening required amounts. You can open the account entirely online. There are not a wide variety of terms available. The Rising CDs have a high opening required amount.

Is Rising Bank secure online?

Rising Bank offers security measures that comply with federal law. Their computers have safeguards. Their files and buildings are secure.

What is the shortest Rising Bank CD term offered?

The shortest CD term offered is the one-year term.

What is the longest Rising Bank CD term offered?

The longest CD term is the three-year CD. This term is available in a regular CD as well as the Rising CD.

Does Rising Bank offer accounts other than CDs?

Along with offering CDs, Rising Bank offers a high yield savings account.

Can I use Rising Bank CDs for my business accounts?

The accounts offered are personal deposit accounts. At this time Rising Bank does not offer business accounts.

How do I reach customer service?

Through phone, email, or mail.

Bank Contact Information

2191 Lemay Ferry Road
St. Louis, MO 63125

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