[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.]
American Eagle Bank of Chicago and American Eagle Bank of South Elgin are both offering CD specials at 2 years. The Chicago bank is offering a 3.25% APY CD for 24 months (2.75% the first 12 months; 3.75% the last 12), and the South Elgin bank is offering a 3.00% APY CD for 24 months (2.75% the first 12 months; 3.75% the last 12). Neither website lists a minimum deposit. The South Elgin rate is available only to existing customers and Kane County residents, although the better Chicago rate is residents of the Greater Chicagoland Metropolitan Statistical Area and existing customers.
American Eagle Bank of Chicago is located at 2129 North Western Ave in Chicago. American Eagle Bank of South Elgin is located at 556 Randall Road in South Elgin.
Wheatland Bank is offering many of their CD terms at 3.25% APY. Their 2-year CDs, 3-year CDs, 4-year CDs, and 5-year CDs are all at that rate. Their 1-year and 18-month CDs are also at a competitive 3.00% APY. All the CDs have a minimum deposit of $2500. Wheatland Bank’s money market account is also returning a reasonable 2.50% APY for deposits over $2500.
Wheatland Bank has one location: 2244 95th Street in Naperville.
AMCORE Bank has two competitive CDs available: Their 10-month CD is yielding 3.00% APY, and their 39-month CD is yielding 3.75% APY. These CDs have a minimum deposit of $10,000 and a maximum of $1 million. To get these rates, you have to have one of the following: (a) an AMCORE checking account with direct deposit or ACH, (b) an aggregate deposit balance of $25,000 or more with AMCORE, or (c) an Ambassador Club Membership (for those 55 and over with $10,000 or more on deposit with AMCORE). What I don’t know is whether the CD itself would help to meet those deposit requirements, i.e. if you opened a $25,000 CD, whether that itself would meet option (b). You’d have to call an individual branch or 877-926-2673 to find out for sure what they’d be willing to do.
AMCORE Bank has more than 75 locations throughout Illinois and Wisconsin. You can find one near you here.
First Choice Bank has a decent mid-length CD available — their 2-year CD is yielding 3.00% APY. The minimum deposit is $1000, and the money must be new money to the bank. The bank doesn’t seem to list their rates on their website, but you can see an ad for the deal here.
First Choice Bank has three branches: One in Geneva, one in St. Charles, and one in Wheaton.
- 2-year CD: 2.85% APY
- 30-month CD: 3.00% APY
- 3-year CD: 3.10% APY
- 4-year CD: 3.30% APY
- 5-year CD: 3.50% APY
These CDs all have a minumum deposit of $1000. Evergreen Bank Group also offers the CDARS Program, which provides FDIC insurance for Certificates of Deposit for up to $50,000,000; contact them for more information on that.
Evergreen Private Bank has one location: 1515 West 22nd Street, Suite 100W in Oak Brook — right next to Oakbrook Mall.
Prospect Federal Bank has a couple decent CDs available: Their 30-month CD is yielding 3.20% APY, their 18-month CD is yielding 2.90% APY. Both these CDs have a $5000 minimum. In addition, their High Rate Eagle Money Market is yielding 2.60% APY with a $25,000 minimum.
Prospect Federal Bank has three locations, all in Illinois: One each in Chicago, Oak Lawn, and Worth.
- 12-23 months: 3.40% APY
- 24-35 months: 3.55% APY
- 36-47 months: 4.00% APY
- 48-60 months: 4.25% APY
These CDs all have a minimum deposit of $25,000, although they are available with a $1000 minimum with a 0.15% reduction in APY. These CDs are all available as Traditional IRAs, Roth IRAs, SEP IRAs, and Coverdell ESAs. Alliant CU also has a very competitive savings account that’s yielding 3.00% and a checking account that’s also yielding 3.00% (with some restrictions).
Alliant Credit Union is a relatively open credit union with quite a few ways to join. Anyone who lives in Arlington Heights, Bensenville, Des Plaines, Elk Grove, Elmhurst, Franklin Park, Harwood Heights, Itasca, Mt. Prospect, Northlake, Niles, Norridge, Park Ridge, Prospect Heights, River Grove, Rolling Meadows, Rosemont, Schiller Park, and Wood Dale is eligible. In addition, anyone who works on O’Hare Airport property, works for United Airlines or its business affiliates, is a member of Life Time Fitness, or who is a member of the National PTA is able to join Alliant. If you don’t meet any of these criteria, you can join the National PTA for $25.
Alliant Credit Union has 10 locations, three of which are in Chicagoland: One in Des Plaines, one in Elk Grove Township, and one in O’Hare Airport.