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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.]
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.
19-month, 4.00% CD at Foster Bank
Foster Bank has a competitive mid-length CD available — their 19-month CDs are yielding 4.00% APY. These CDs only have a minimum deposit of $1000, which is nice. The money deposited must be new money to Foster Bank; specifically, not deposited in Foster Bank in the last 90 days. Foster Bank also has an savings account for minors called the Smart Savers account that’s currently earning an APY of 4.00% with a minimum deposit of $10.
Foster Bank has seven locations, all in Chicagoland: two in Chicago, two in Niles, and one each in Lincolnshire, Arlington Heights, and Naperville.
(Thanks to reader Nancy who e-mailed us this deal.)
$100 Checking Account Bonus at Foster Bank
Foster Bank is offering a $100 bonus for opening a checking account with them. As with many of the deals, this does require direct deposit to receive the bonus — at least on personal accounts. On business accounts, all you need to get the bonus is any type of ACH payment, including credit card deposits or Remote Merchant Capture. Other requirements: The account needs to stay open 120 days, and it’s good on new money and new checking accounts only. The offer is expected to last through September 22nd.
Foster Bank has seven locations, all in Chicagoland: two in Chicago, two in Niles, and one each in Lincolnshire, Arlington Heights, and Naperville. The new branch in Lincolnshire still has a special 7%, 7-month CD available.
7.00% CD (yes, 7%!) at Foster Bank
As part of their Grand Opening Special, the Lincolnshire branch of Foster Bank is offering a special 7-month, 7.00% APY CD. You might guess there are a few catches, and you’d be right: The CD has a maximum of only $10,000, you need to have a checking account with Foster Bank, and you need to be a resident of either Lake County or McHenry County. It’s also only available at the Lincolnshire branch, which is in City Park Shopping Center at Deerfield and Aptakisic. On the plus side, the offer is continuing through mid-September. This deal is not mentioned on their website, but you can get more information by calling the branch at 847-537-5376.
