[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.]
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.
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.
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.
- 1-year CD: 1.26% APY
- 2-year CD: 1.76% APY
- 30-month CD: 2.02% APY
- 3-year CD: 2.27% APY
- 4-year CD: 2.42% APY
- 5-year CD: 2.88% APY
These CDs all have a $10,000 minimum, although they’re also available with a $1000 minimum if you’re willing to take 0.05%-0.10% off of the rate. Their penalty for early withdrawal is 6 months’ interest on 1-to-3-year CDs, and 1 year’s interest on 4- and 5-year CDs. AACU tends to change their rates only once a month, so these rates may be good through all of March; no promises, however.
AA Credit Union is open to anyone who works directly with the air transportation industry — not just American Airlines employees. This includes airline employees, TSA and FAA employees, baggage handlers, those who deal with airline food services, and others. It also is open to those who are retired from the air transportation industry.
The four local branches of AA Credit Union are all located on the grounds of O’Hare Airport — in Terminal 3, Concourse K; in Terminal 3, Concourse G; in the West Mezzanine Level, Terminal 3; and at 9950 W. Lawrence Ave., Suite 219.
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.
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.
- 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.
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.
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.
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.
- 2-year CD: 1.70% APY
- 30-month CD: 1.90% APY
- 3-year CD: 2.10% APY
- 4-year CD: 2.30% APY
- 5-year CD: 2.75% APY
These CDs all have a minumum deposit of $1000. Evergreen Bank Group also offers the CDARS Program, which provides FDIC insurance for Certificates of Deposit for up to $50,000,000; contact them for more information on that.
Evergreen Private Bank has one location: 1515 West 22nd Street, Suite 100W in Oak Brook — right next to Oakbrook Mall.
Our apologies for the lack of posting recently. It should start picking up again.
Alliant Credit Union has a number of competitive CD rates available:
- 12-to-23-month CDs: 1.60% APY
- 24-to-35-month CDs: 1.85% APY
- 36-to-47-month CDs: 2.10% APY
- 48-to-60-month CDs: 2.75% APY
These CDs have a $25,000 minimum, but the CDs are also available with a $1000 minimum with only a .10% rate drop. These rates are also available as traditional IRA CDs, Roth IRA CDs, SEP IRA CDs, and Coverdell ESAs.
Alliant Credit Union is a relatively open credit union with quite a few ways to join. Anyone who lives in Arlington Heights, Bensenville, Des Plaines, Elk Grove, Elmhurst, Franklin Park, Harwood Heights, Itasca, Mt. Prospect, Northlake, Niles, Norridge, Park Ridge, Prospect Heights, River Grove, Rolling Meadows, Rosemont, Schiller Park, and Wood Dale is eligible. In addition, anyone who works on O’Hare Airport property, works for United Airlines or its business affiliates, is a member of Life Time Fitness, or who is a member of the National PTA is able to join Alliant. If you don’t meet any of these criteria, you can join the National PTA for $25.
Alliant Credit Union has 10 locations, three of which are in Chicagoland: One in Des Plaines, one at United World Headquarters in Mt. Prospect (United World Headquarters employees only), and one in O’Hare Airport.