[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.]
State Bank of India has a few good CDs rates available, at least in today’s low-rate environment. Their 1-year CDs are yielding 1.20% APY, their 2-year CDs have a yield of 1.40% APY, and their 3-year CDs are returning 1.71% APY. All the CDs have a minimum deposit of $2500, and the rate is good through at least tomorrow (November 23). At State Bank of India’s New York branch, they explicitly state that they are only offering CDs in single and joint names, not “in-trust for,” “POD,” and “trust” accounts, so that may very well apply to the Chicago branch as well. While State Bank of India is technically a branch of a foreign bank, all deposits at its U.S. banks are FDIC insured.
State Bank of India has branches in New York, LA, Washington D.C., and Chicago. Its Chicago branch is at 19 South La Salle Street, Suite 200.
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