M&T Bank CD Rates (November 2026) & Calculator

M&T Bank pays up to 4.10% APY on an 18-month CD. Pick a term to see what your deposit earns, how it compares and what breaking it early would cost.

Rates checked Nov 5, 2026FDIC cert #588Rates for New York, NY (ZIP 10001)

M&T Bank CD rates (Nov 5, 2026)

Every CD term M&T Bank lists on its website, with what $10,000 earns over the full term. Rates are for New York, NY (ZIP 10001); M&T Bank prices CDs by location, so check yours on its site.

M&T Bank CD rates by term and balance
Term	Product	Minimum	APY	$10,000 earns
6 months	M&T Select Certificate of DepositRelationship	$1,000	3.60%	$178.41
6 months	Certificate of Deposit	$1,000	3.00%	$148.89
1 year	M&T Select Certificate of DepositRelationship	$1,000	3.00%	$300.00
18 months	M&T Select Certificate of DepositRelationship	$1,000	4.10%	$621.26

Special is a promotional rate. Relationship needs a linked account at M&T Bank. A dash means the same APY as the opening balance. The highlighted row is M&T Bank's top rate.

Source: M&T Bank CD rates. Rates change often; confirm before you open an account.

M&T Bank vs the national average

The FDIC national average is what banks and credit unions pay on average, weighted by deposits (Oct 19, 2026). The last column is the best rate among the 51 other banks we track for the same term.

M&T Bank CD rates compared with the FDIC national average
Term	M&T Bank	National avg	Best other bank
6 months	3.60%	1.39%	Popular Direct 4.35%
1 year	3.00%	1.76%	Popular Direct 4.60%
18 months	4.10%	1.76% (12 mo)	Popular Direct 4.80%

M&T Bank CD early withdrawal penalty

M&T Bank early withdrawal penalty by term
Term	Penalty
Terms under 365 days	a $25 fee plus 91 days of interest
Terms over 364 days	a $50 fee plus 182 days of interest

Example: $10,000 in an 18-month CD at 4.10%, withdrawn after 9 months, has earned $305.95. The penalty is $250.37, so you would get $10,055.58.

The penalty can reach your principal if it is more than the interest earned. Official disclosure (checked 2026-11-06).

Taxes on M&T Bank CD interest

CD interest is taxable as ordinary income, federally and in most states. You owe tax in the year the interest is credited or accrues, even if it stays in the CD until maturity. M&T Bank sends Form 1099-INT when you earn $10 or more in a year. For example, the $621.26 that $10,000 earns over 18 months at 4.10% would cost about $137 in federal tax in the 22% bracket.

If you pay an early withdrawal penalty, it appears in box 2 of your 1099-INT and you can deduct it from your income, even if you don't itemize. CDs held in an IRA follow IRA tax rules instead. See IRS Publication 550.

How We Calculate & Keep This Accurate

Maturity value is your deposit grown at the APY for the term: A = P × (1 + APY)^(months ÷ 12). The APY for each term is the highest balance tier your deposit qualifies for. Early withdrawal penalties are charged as simple interest on the deposit at the CD's interest rate (the APY converted to its daily rate), following M&T Bank's published rule for that term.

Rates come from M&T Bank's own rate page. We use the APY Ledger dataset (CC BY 4.0) to spot rate changes, and we checked a sample of rates and the penalty rules against M&T Bank's website and disclosures. Results are estimates, not an offer from the bank.

Primary Sources

Data & Freshness

Figures reflect 2026 tax-year data.

Last updated November 5, 2026 · Maintained by the Financial Calculator editorial team.

M&T Bank CD FAQs

Quick answers about M&T Bank CD rates and penalties.

What are M&T Bank's CD rates today?

As of Nov 5, 2026, M&T Bank's highest CD rate is 4.10% APY on the 18 months M&T Select Certificate of Deposit (relationship rate). The full list of terms and balance tiers is in the table above. Rates are shown for New York, NY (ZIP 10001) and can differ where you live.

How much will $10,000 earn in an 18-month M&T Bank CD?

At 4.10% APY, $10,000 grows to $10,621.26 after 18 months, earning $621.26 in interest. Change the deposit or term in the calculator to see other amounts.

What is M&T Bank's CD early withdrawal penalty?

Terms under 365 days: a $25 fee plus 91 days of interest. Terms over 364 days: a $50 fee plus 182 days of interest. If the penalty is more than the interest earned, the rest comes out of your principal.

Are M&T Bank CDs insured?

Manufacturers and Traders Trust Company is FDIC-insured (FDIC certificate #588), so deposits are covered up to $250,000 per depositor, per bank, per ownership category.

How do M&T Bank's rates compare with the national average?

The FDIC's national average for a 12-month CD was 1.76% as of Oct 19, 2026. Its best rate, 4.10% for 18 months, is 2.34 points above the national average for that term.

Compare CD rates at other banks

Best APY at each bank for a $10,000 deposit, checked Nov 5, 2026. M&T Bank's best is 4.10%.

Green rates beat M&T Bank's best rate. “rel.” means the rate needs a linked account. Need a bank that isn't listed? Use the CD calculator with any APY.