[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.]
Center Bank is offering a very high rate on their 6-month and 12-month CDs: Their 6-month CDs are yielding 3.30% APY, and their 12-month CDs are yielding 3.40% APY. These CDs have a minimum balance requirement of $500. Even better, though, is that these CDs are what Center Bank calls a “Flexible CD,” meaning that it has some liquid features: ”You may make additional deposits into account before maturity during a term. The minimum amount of any additional deposit is $1,000. The total amount of any additional deposits during a term can not exceed the initial deposit at account opening or at renewal.” In addition, [t]wo penalty-free withdrawals…are allowed during any term,” as long as they don’t take the balance of the CD less than $5000. You can read the entire list of restrictions and directions at their ad here.
Center Bank has 18 branches, but only one in Illinois: 5520 N. Lincoln Ave. in Chicago.
(Hat tip to Bank Deals Blog.)