The control of machines in case of low carrier ratio (ratio of switching frequency to electrical frequency fsw/fel) is a challenging topic at the highly dynamic control of high-speed machines and high power converters. While common PI Controllers face stability issues at low ratios, Model Predictive Control (MPC) can be used to ensure stability. The cost function can be used, to reduce the Total Harmonic Distortion of the motor currents (THDi) or, keeping the THDi constant, reducing the motor filter size. This paper presents a comparison of Finite Control Set (FCS) and hysteresis based MPC algorithm for three level converter. The predictive control of the currents is providing good dynamic performance. The Neutral Point Clamped (NPC) or T-Type converter are considered to optimize the harmonic distortion of the permanent magnet synchronous motor (PMSM) currents. Simulation and experimental results prove the effectiveness of the analyzed control for 3-Level Converters.