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[Please note: This page is part of the Chicago CD Rates archive. Most of these deals on this page are not current and no longer available. Please check the date of the post before getting too excited and driving to a bank an hour away. If you have any doubts whether the deal is available, contact the bank or credit union. For a list of more current rates, visit our homepage.]
19-month, 4.00% CD at Foster Bank
Foster Bank has a competitive mid-length CD available — their 19-month CDs are yielding 4.00% APY. These CDs only have a minimum deposit of $1000, which is nice. The money deposited must be new money to Foster Bank; specifically, not deposited in Foster Bank in the last 90 days. Foster Bank also has an savings account for minors called the Smart Savers account that’s currently earning an APY of 4.00% with a minimum deposit of $10.
Foster Bank has seven locations, all in Chicagoland: two in Chicago, two in Niles, and one each in Lincolnshire, Arlington Heights, and Naperville.
(Thanks to reader Nancy who e-mailed us this deal.)
January 12th, 2009 at 2:25 pm
Foster Bank is not honoring the 4% 19th mth CD any longer. I had called this morning to confirm the rate at 4% and the website still has the 4%. However, when I went in at 1pm to open the CD, I was told that they changed the rate at 10am to 2.81%…leaving me to walk out. Funny about that change since I had called around 10am.
January 12th, 2009 at 10:56 pm
Interesting. The 4.00% CD is still right there on their website…
http://www.fosterbank.com/Products/19month_cd.htm
…so I’d think they’d have to honor it if you pressed them on it (since they’re still advertising it).
January 13th, 2009 at 10:02 am
Yes, you’re right..it’s still advertised online at 4%. I just called another branch and they confirmed that it’s 2.85%, not 4%. I pressed upon them to change the website, but they play by their own rules.
I found it difficult to argue with the woman yesterday over the rate as she had a mediocre command of the English language and I was the only non-Asian there.