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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.]
1.05%, 14-month CD at Integra Bank
Integra Bank has a relatively competitive shorter-term CD available: a 14-month CD that yields 1.05% APY. This certificate, as well as their other CDs, has a minimum deposit of $500. Integra Bank also has two other somewhat competitive CDs that they are offering: a 2-year CD returning 1.35% APY, and a 5-year CD that yields 2.25% APY. Integra also has an “easy access” 14-month CD that’s yielding 0.95% APY, but there aren’t a lot of details on what the “easy access” part of this certificate actually is.
Integra Bank has over 50 branches, including 12 in Illinois: two each in Mt. Vernon and Plainfield, and one each in Bridgeview, Brookport, Carmi, Elizabethtown, Golconda, Mokena, Shawneetown, and Vienna.
18-month, 1.35% CD at Lakeside Bank
There’s really not much in Chicagoland CDs that’s competitive under two years, but this one isn’t too bad: Lakeside Bank has an 18-month CD that’s yielding 1.35% APY. The CD has a $2500 minimum, and the money must be new to Lakeside Bank. Unfortunately, to get this rate, you also have to have a “qualifying…deposit account”; without it, the rate drops down to 1.10% APY.
Lakeside Bank has six locations, all of them in the city of Chicago.
13-month, 1.05% and 25-month, 1.25% CDs at Bank of Pontiac
If you’re in the far southwest suburbs of Chicago, these competitive rates might be worth considering: Bank of Pontiac has a 13-month CD yielding 1.05% APY and a 25-month CD returning 1.25% APY. These CDs both have a minimum deposit of $500. The 13-month CD has a 3-month penalty for closing the account early, and the 25-month CD has a 6-month penalty. If you are a “FunTimer” (age 50 or older; have an “Interest/FunTimer checking” account; maintain a combined deposit relationship of at least $2,500 at Bank of Pontiac), those rates go up by .10%
Bank of Pontiac has five locations: Two in Pontiac, two in Dwight, and one in Odell.
15-month Prime Index Account at Foster Bank
If you think that the prime rate is going up over the next 15 months, you might want to consider the 15-month Prime Index Account at Foster Bank. This account is essentially like a CD, but rather than having a constant rate over the term, the rate is actually indexed to 30% of the Prime Rate. Right now the prime rate is 3.25%, so the account is yielding 0.975%. Not exactly gangbusters right now, but if you believe that the Prime Rate is on an upward trajectory in the near future, it’s something to consider. The account has a $25,000 minimum.
Foster Bank has eight locations, seven which are in Chicagoland: two in Chicago, two in Niles, and one each in Lincolnshire, Arlington Heights, and Naperville.
CDs up to 2.50% at Mutual Federal Bank
Mutual Federal Bank has a number of competitive CDs available:
- 3-year certificate: 2.00% APY
- 4-year certificate: 2.25% APY
- 5-year certificate: 2.50% APY
The CDs have a minimum deposit of $500 and a maximum deposit of $90,000. The CDs are also available as traditional IRA or Roth IRA CDs at the same rates.
Mutual Federal Bank has two branches: 2212 W. Cermak in Chicago and 2695 Forgue Dr. in Naperville. The Naperville branch is called Great American Bank.
1-year, 1.20% CD at State Bank of India
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.
Competitive CDs across terms at National Republic Bank of Chicago
National Republic Bank of Chicago has a number of CDs that are at competitive rates:
- 1-year CD: 1.26% APY
- 18-month CD: 1.41% APY
- 2-year CD: 1.66% APY
- 30-month CD: 2.02% APY
- 3-year CD: 2.12% APY
- 5-year CD: 2.27% APY
These CDs all have a minimum balance requirement of $1000 and a maximum deposit of $98,999. According to the website, however, the minimum deposit requirement is waved for senior citizen accounts. The rates are accurate as of November 9th.
National Republic Bank has two locations, both in Chicago: 1201 W. Harrison and 2615 W. Devon.
CDs up to 2.75% at Mutual Federal Bank
Mutual Federal Bank has a number of competitive CDs available:
- 30-month and 3-year CDs: 2.00% APY
- 4-year CDs: 2.25% APY
- 5-year CDs: 2.75% APY
Mutual Federal doesn’t list any minimum deposit for these accounts, but the CDs do have a maximum deposit of $90,000. The rates were accurate as of November 5th.
Mutual Federal Bank has two branches: 2212 W. Cermak in Chicago and 2695 Forgue Dr. in Naperville. The Naperville branch is called Great American Bank.
3-year, 2.02% CD at Liberty Bank
Liberty Bank has a decent mid-term CD available: a 3-year CD yielding 2.02% APY. This CD has a minimum deposit of $1000, and the same rate is available in a 4-year or 5-year CD. Liberty Bank also has a couple somewhat-competitive shorter CDs available: a 1-year CD at 1.00% APY, and a 2-year CD at 1.26% APY. Those CDs have the same $1000 minimum.
Liberty Bank has five locations: Three in Chicago, one in Lincolnwood, and one in Park Ridge.
1.23% 1-year CD at First Choice Bank
One-year CDs are very low right now, so this CD is competitive at 1.23% APY: a 12-month CD at First Choice Bank. You can see an ad for the CD here. The CD has a minimum deposit of $1000 and a maximum of $100,000. There are also a 3-month CD available at .76% APY and a 6-month CD at .91% APY.
First Choice Bank has two branches: State Street in Geneva and Naperville Road in Wheaton.
Mid-term CDs up to 1.50% at Ridgestone Bank
Ridgestone Bank is offering two CDs at decent rates: a 13-month CD that’s yielding 1.25% APY, and a 20-month CD that has a 1.50% APY return. The CDs have a minimum deposit of $20,000 and a maximum deposit of $95,000. If you open the CD for an amount greater that $95,000, the rates are dropped to 1.15% APY and 1.40% APY respectively.
Ridgestone Bank has two branches, one of which is in Illinois: 10 N. Martingale Road, Suite 100, in Schaumburg.
1.30%/12-month, 1.48%/18-month CDs at Leaders Bank
Leaders Bank is offering two competitive mid-term CDs: a 12-month CD yielding 1.30% APY, and an 18-month CD yielding 1.48% APY. Both CDs have a minimum deposit of $10,000. Leaders Bank doesn’t seem to list their rates on their website, but these rates were advertised on page 4 of the Business section in Sunday’s Chicago Tribune (10/17/10).
Leaders Bank has three branches: in Oak Brook, Naperville, and Hoffman Estates. However, the ad in the Chicago Tribune only lists the Oak Brook and Naperville branches, so it’s possible the Hoffman Estates’ branch might have different rates on its CDs.
