Chicago Certificate of Deposit Rates Survey for the week of December 26, 2011

Written by: Ryan Watson

Chicago Certificate of Deposit Rates Survey for the week of December 26, 2011

According to a recent Primerates.com survey conducted on December 26, 2011 of Chicago certificate of deposit rates offered by the area banks & credit unions  largest financial institutions offered short-term savers 6 month CD’s with rates between 0.05% at US Bank National (www.USBank.com) and 0.30% at Bank of America (www.bankofamerica.com).   Bank of America also has the longest 1-year maturity at 0.35%, and USBank offers the highest CD maturities for all terms over 2 years, ranging from a 2 year CD at 0.65% to a five year at 1.59%.  Notice also that US Bank’s 4 and 5 year CD rates are significantly higher than most other CD rates for those term lengths.

 

CD’s are typically insured up to $250,000 by the FDIC.  As CD’s mature, banks typically re-price the rates on deposits.  Make sure that you track when your CD’s mature so that you can roll them over into new CD’s and keep your money working as hard as possible.

 

Banks 6 month 1 year 2 year 3 year 4 year 5 year
JP Morgan Chase 0.20% 0.25% 0.40% 0.50% 0.50% 1.00%
Harris National 0.15% 0.30% 0.54% 0.79% 0.89% 1.24%
Bank of America 0.30% 0.35% 0.40% 0.60% 0.85% 1.20%
PNC Bank National 0.15% 0.25% 0.45% 0.45% 0.85% 1.05%
City Bank 0.15% 0.25% 0.30% 0.50% 0.75% 1.00%
Fifth Third Bank 0.10% 0.15% 0.40% 0.55% 0.70% 0.85%
MB Financial 0.15% 0.25% 0.50% 0.85% 1.05% 1.29%
First Midwest Bank 0.16% 0.30% 0.55% 0.70% 0.84% 1.14%
U S Bank National 0.05% 0.15% 0.65% 0.90% 1.29% 1.59%
RBS Citizens National NA 0.05% 0.25% NA NA 1.00%

 

 

Rates from banks, thrifts and credit union were posted on their websites on the date indicated for a $10,000 certificates of deposit meeting the specific holding requirement.  Data is believed accurate at time of collection, can change without notice, and will vary.  Contact a specific institution for current rates.


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