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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.]
5.08% checking at State Bank of Countryside
State Bank of Countryside is offering by far the highest rate I’ve seen on a local checking account recently: Their Best Ever Checking is yielding 5.08% APY. As is usually the case with ultra-high-rate checking accounts, there are a number of catches: You must perform ten debit card transations per cycle, have one direct deposit or ACH credit per cycle, and sign up for Internet banking with an online statement. In addition, the fine print says that you must log into Internet banking at least once every 60 days, and that there’s a $50 fee if you close the account in the first year. If your balance is higher than $25,000, you will only make 1.08% APY instead of 5.08%, and if you don’t meet all the requirements for the account, the base rate is 0.18% APY. Still, this might be a good account for people who use a debit card regularly regardless.
State Bank of Countryside has six locations: one each in Burbank, Chicago, Countryside, Darien, Homer Glen, and Orland Park.
4-year, 4.00% Bump-Up CD at State Bank of Countryside
State Bank of Countryside has what might be a good deal for those who think rates might go up over the next few years: a 4-year CD earning 4.00% APY with a “bump-up option.” The CD has a minimum of $10,000. Unfortunately, the website doesn’t have the specifics of how the bump-up option works (how many times you’re allowed to raise the CD rate, etc.). On the plus side, you can add another 10 basis points on the CD if you “maintain an active personal checking or NOW account and have a combined (of all SBC accounts) personal deposit balance of $50,000 or higher.”
State Bank of Countryside has six locations: one each in Burbank, Chicago, Countryside, Darien, Homer Glen, and Orland Park.
