Deerwood Bank

18 Reviews

Deerwood Bank was established in 1910 in Deerwood, Minnesota. Since their establishment they’ve been an integral part of the communities they serve. To this day, Deerwood Bank continues to be a community-based bank. Their expansions and growth represent their desire to broaden their services and convenience to their customers throughout Minnesota. Their business philosophies... show more

Deerwood Bank Reviews

The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. The rating was last updated on 09/10/2025.

3.6

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Jamie Jensen
March 4, 2014 • @raven181

I love this bank! I've been a member of this bank for several years. Every customer service member that has assisted me has been friendly, knowledgeable and helpful. My direct deposit is processed quickly and is available days earlier than other banks. All my problems have been handled promptly and efficiently! I would recommend this bank to anyone looking for an institution that's going to treat you like a person, not a dollar sign.

Product: Deerwood Bank Savings & CDs

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Review Deerwood Bank

Deerwood Bank Offers

Savings

CDs

Business Services

Car Loans

Checking

Credit Cards

Home Equity

Investments

Mortgages

Personal Loans

Deerwood Bank Q&A(2 questions)

Get answers to your questions about Deerwood Bank below. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Upvotes

What are the Deerwood Bank CD rates?

Ramses Delgado, Banking Moderator

The Deerwood Bank CD has an APY of 1.71% - 3.39%. The interest you earn on your deposit depends on the term you choose. With term lengths ranging from 6 months to 3 years, you can select the CD that best aligns with your financial goals.

Deerwood Bank CD Rates

6-Month: 2.73% APY
1-Year: 3.39% APY
2-Year: 2.17% APY
3-Year: 1.71% APY

These rates may change without prior notice. For the most up-to-date information, visit Deerwood Bank's website or contact customer service at (800) 291-6597.

You can compare the best CD rates here on WalletHub to ensure that whatever decision you go for really fits your goals.

Upvotes

What is the Deerwood Bank savings account APY?

Ramses Delgado, Banking Moderator

The Deerwood Bank MySavings account offers an interest rate of 0.15% - 0.20%. It requires a minimum opening deposit of $50 and a $50 minimum balance to avoid the monthly fee.

Keep in mind that these rates and features may change without prior notice. For the most up-to-date information, visit Deerwood Bank's website or contact customer service at (800) 291-6597.

You can compare the best savings accounts here on WalletHub to ensure that whatever decision you go for really fits...

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Deerwood Bank Contact

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[email protected]

Visit Website

800-291-6597

131 6th Ave S, Ste 100

Waite Park, MN 56387

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