Illinois CD rates moved in opposite directions between the short term CDs and long term CDs.  Illinois CD rates with a six month term went down two basis points or 2/100 of a percent for the week with the average of the best six month CD rates landing at 2.22%.  The average of the one year CD rates fell by three basis points to 2.58%.  Two year CD rates in Illinois remained unchanged.  The five year CD rates managed to jump measurably from 3.60% to 3.68% for the week.

The best six month CD rate in Illinois remains with STC Capital Bank of St. Charles, Il.  The rate is a stand out at 2.75% for a six month term but the deposit amount is capped at $25,000.00.  Following this rate are two banks that are offering CD rates at 2.25%.  International Bank of Chicago offers 2.25% on their six month CD while First Bank of Highland Park offers the rate on an extended term, nine month CD.

One year CD rates available nationally have been slumping for a consecutive weeks which has resulting in Illinois one year CD rates handily beating the best national bank rates.  The best one year CD rate in Illinois is the product of First Bank of Highland Park with a 17 month CD that has an interest rate of 2.75%.  State bank of Countryside follows with a longer, 18 month term that has a rate of 2.61%.  Only one basis point beneath this rate is the one year CD of Builders Bank that yields 2.60%.  To put the rates in perspective, especially for the longer terms, the best one year CD rate available nationally is at 2.53% while the best two year CD rate is at 2.87%. 

The best two year CD rate in Illinois remains well above the national rates.  International Bank of Chicago leads the state with their two year CD rate of 3.00%.  Broadway Bank shared the lead but has just reduced their promotional 25 month CD to 2.65%.  Town and Country Bank comes up next with a two year CD that is quite a bit lower but on par with national rates at 2.85%.  One basis point lower is the two year CD from State Bank of India with a two year CD that earns 2.84%.

The best five year CD rates comes from US Bank which has recently increased the rate they offer on their promotional 59 month CD to 4.00%.  Two Illinois banks, All American Bank and Inland Bank & Trust, are close behind with five year CDs at 3.75%.  Liberty Bank has a slightly longer than five year term CD, 66 months, that yields 3.60%.  More than few banks have five year CDs with rates at 3.50% including; CenTrust Bank, Midwest Community Bank and Broadway Bank.

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