For the best short term CD rates in Indiana, Mutual Bank is on top.  Mutual Bank was founded in 1889 and is based in Muncie, Indiana.  The bank has 33 bank branch locations from Muncie to South Bend.  Recently, the bank has run a promotion on two short term certificates of deposit.  The bank has 13 month CD with an interest rate of 3.60% APY.  The bank also has a 4 month CD that earns an interest rate of 4.00%.  This bank CD is now the best short term CD rate in Indiana.  Mutual Bank also has a 9 month no penalty CD that has a rate of 3.00% APY.  The no penalty CD allows for principal and interest withdrawals on or after the 7th day.  Partial withdrawals of principal are not allowed.  This CD requires a minimum deposit of $10,000.00, the short term special CDs require a $2,500.00 minimum deposit.

Mutual Bank is a federally chartered savings bank that offers both personal and business banking services.  The bank provides consumer deposit products including savings accounts, checking accounts, certificates of deposits, and money market accounts.  Bank lending products include commercial loans, commercial lines of credit, credit cards, real estate loans, and home equity loans.  Mutual Bank also offers online banking and bill payment services. 

Interest rates are subject to change, additional conditions may apply on these bank accounts.  A Mutual Bank representative can be reached at 800-382-8031.  A variety of bank savings product interest rates can be found on the Mutual Bank web site which is located at www.mfsbank.com.

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