[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.]
2.50% checking at American Enterprise Bank
American Enterprise Bank has a very competitive checking account rate available: Their Premier Interest Checking is yielding 2.50% APY. The minimum balance required in the checking account to earn the APY is $10,000, and a $10/month fee is charged for accounts with less than $350. This rate does not seem to be listed on American Enterprise’s website, but you can see an ad for it (from April 9th) here.
American Enterprise Bank has four locations: Buffalo Grove, Highland Park, Schaumburg, and Wheaton.
CD Rates up to 4.00% at Alliant Credit Union
Alliant Credit Union has a number of competitive CDs available:
- 12-23 months: 3.15% APY
- 24-35 months: 3.30% APY
- 36-47 months: 3.75% APY
- 48-60 months: 4.00% APY
These CDs all have a minimum deposit of $25,000, although they are available with a $1000 minimum with a 0.15% reduction in APY. These CDs are all available as Traditional IRAs, Roth IRAs, SEP IRAs, and Coverdell ESAs. Alliant CU also has a very competitive savings account that’s yielding 3.00% and a checking account that’s also yielding 2.75% (with some restrictions).
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 in Elk Grove Township, and one in O’Hare Airport.
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.
CDs up to 4.25% at Alliant Credit Union
Alliant Credit Union has a number of competitive CDs available:
- 12-23 months: 3.40% APY
- 24-35 months: 3.55% APY
- 36-47 months: 4.00% APY
- 48-60 months: 4.25% APY
These CDs all have a minimum deposit of $25,000, although they are available with a $1000 minimum with a 0.15% reduction in APY. These CDs are all available as Traditional IRAs, Roth IRAs, SEP IRAs, and Coverdell ESAs. Alliant CU also has a very competitive savings account that’s yielding 3.00% and a checking account that’s also yielding 3.00% (with some restrictions).
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 in Elk Grove Township, and one in O’Hare Airport.
CDs up to 4.50% at Alliant Credit Union
Alliant Credit Union has a number of very nice CD rates available:
- 12-23 months: 3.65% APY
- 24-35 months: 3.80% APY
- 36-47 months: 4.25% APY
- 48-60 months: 4.50% APY
These CDs all have a $25,000 minimum; however, you can get the CDs with a $1000 minimum, but with a 0.15% drop in APY. These CDs are all available as Traditional IRAs, Roth IRAs, SEP IRAs, and Coverdell ESAs. Alliant CU also has a very competitive savings account that’s yielding 3.25% and a checking account that yields 3.00% (with some restrictions).
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 in Elk Grove Township, and one in O’Hare Airport.
$200 checking account bonus at MB Financial
This is easily the largest checking account bonus we’ve seen recently: MB Financial is offering a $200 bonus for anyone who opens their Free Checking Account. The $200 will be paid as four $50 payments for each of the first four months that you do both of the following: (a) have a payroll direct deposit of at least $250, and (b) have at least 12 signature-based debit card transactions. It’s not available to people who already have an MB Financial checking account. This deal doesn’t seem to be listed on their website, but there was an ad for it in Sunday’s Chicago Tribune (11/16).
MB Financial has over 70 locations throughout the Chicago area. You can see a list of them here.
CDs up to 5% at Wheatland Bank
(Sorry about the lack of posts recently — I’ve been away from Internet access for the past couple weeks.)
Wheatland Bank has a number of good and very good CD rates:
- 3-month and 6-month CDs: 4.00% APY
- 12-month, 18-month, and 24-month CDs: 4.50% APY
- 3-year, 4-year, and 5-year CDs: 5.00% APY
All these CDs have a minimum of $2500, and all of them are available as IRA CDs. Wheatland also has some a very nice money market rate (3.50% APY above $2500) and checking account rate (3.00% APY above $2500).
Wheatland Bank has one location: 2244 95th Street in Naperville.
(Thanks to the reader who e-mailed me this deal.)
Checking Account Bonus up to $100 North Shore Trust and Savings
We mentioned this deal back in June, but since it’s still going on in September we thought we’d mention it again: North Shore Trust and Savings is offering up to $100 bonus for opening a checking account with them. There’s a $50 bonus simply for opening their free or premium checking account with a debit card, an additional $25 if you set up direct deposit or a recurring payment with them, and other $25 if you sign up for online bill pay. There is a $25 fee if the checking account is closed in the first 90 days. This deal doesn’t seem to be listed on their website, but they do have an ad for it listed here.
North Shore Trust and Savings has three locations: Two in Waukegan and one in Lindenhurst.
4.00% Checking Account at BCU
BCU has a checking account with a great rate — and a few catches. BCU’s PowerChecking account is currently yielding 4.00% APY, better than almost money market or savings account you’re going to find. But a few caveats: The 4% yield is only available on the first $25,000 (it’s 1.00% APY for the portion of the balance about $25,000), the account must have direct deposit and e-statements, and complete a minimum of 10 “checking transactions” (including online bill pay, ACH deposit, ACH withdrawal, and signature-based debit transactions). Accounts not meeting all the requirements earn no interest. For someone paying a lot of bills online or making a lot of debit transactions, however, these requirements might be easy to make.
BCU is open to anyone who lives in Lake County (Illinois), DuPage County, McHenry County, Kane County, Cook County north of Route 58, the city of Schaumburg, or Kenosha County in Wisconsin. The best that I can tell, there are six area branches of BCU, listed below for your convenience:
- 415 South Main, Crystal Lake
- Lake Cook Road and Saunders Road, Deerfield
- 400 North Field Drive, Lake Forest
- 1485 Waukegan Road, McGaw Park
- West Belvidere Road and North Wilson Road, Round Lake
- 340 North Milwaukee Avenue, Vernon Hills
3% Checking and good CD rates at Wheatland Bank
Wheatland Bank has one of the best checking account rates we’ve seen recently: Their “Personal Checking with Interest” is currently paying 3.00% for balances over $2500. Below $2500, the interest goes to 0%. Wheatland also has a number of very competitive CDs:
- 3-month, 6-month, 1-year and 18-month CDs: 4.00% APY
- 2-year and 3-year CDs: 4.50% APY
- 4-year and 5-year CDs: 5.00% APY
The CDs also have a minimum deposit of $2500, and the CDs can be opened as IRA CDs and business CDs.
Wheatland Bank has one branch: 2244 95th Street in Naperville.
(Thanks to the reader who e-mailed me this deal.)
(Note: This is Chicago CD Rates’ 200th post — thanks for visiting us in the past year!)
Checking Account Bonus up to $100 North Shore Trust and Savings
North Shore Trust and Savings is offering up to $100 bonus for opening a checking account with them. There’s a $50 bonus simply for opening their free or premium checking account with a debit card, an additional $25 if you set up direct deposit or a recurring payment with them, and other $25 if you sign up for online bill pay. There is a $25 fee if the checking account is closed in the first 90 days. This deal doesn’t seem to be listed on their website, but they do have an ad for it listed here. The ad says that the offer is as of June 1st, but the ad was put in the paper on June 5th, so it’s likely still going on.
North Shore Trust and Savings has three locations: Two in Waukegan and one in Lindenhurst.
$110 bonus with opening a checking account at Liberty Bank
Liberty Bank has a very nice checking account bonus deal: Open a FREEdomChecking account with them, and receive a $110 bonus. (The $110 is because they’re celebrating their 110th anniversary.) The minimum balance to open the account is $50, but you don’t have to maintain a minimum balance in the account to avoid fees. Also, the account only requires one direct deposit to receive the entire bonus — most other recent deals of this ilk have required 4 to 6. The offer is good through the end of June.
Liberty Bank has five locations: Three in Chicago, one in Lincolnwood, and one in Park Ridge.
[Thanks to reader trinidon2k who mentioned this in our finding deals post.]
