[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.]
2-year, 3.00% CD at First Choice Bank
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.
Two good six-month money market deals
Two local banks are running money market deals where they are guaranteeing that the rate will remain the same for the first six months. The higher one is with First Choice Bank, which is offering 5.35% in their “Summertime Money Market” on all balances above $1000. This deal is available on new accounts and new money only. After six months, the account will revert to the prevailing rate, which is currently tiered from 1.51% to 4.00%, depending on the account balance. First Choice has three branches: One in Geneva, one in St. Charles, and one in Wheaton.
National City is also offering a good money market rate that’s guaranteed for six months: 5.25% APY. The offer is good for either customers with an existing National City personal checking account or by opening a new personal checking account (except Free Checking) with a minimum of $1,500. There is a minimum of $5000 required to earn the 5.25%. Like the First Choice deal, after six months the account will revert to the prevailing rate, which is currently tiered from 0.85% to 3.95%, depending on the account balance. There are numerous National City locations in the Chicago area; you can find one near you here.
