Based on the weekly survey of banks in the Illinois area by SelectCDrates.com, CD rates for the week ending June 19, 2009 on average fell by a slight sum. The average for the best six month CD rates in Illinois managed to produce a gain in yield for the week, moving from an average of 2.22% to 2.26%. One year CD rates in Illinois were not as fortunate. The average for the top one year CD rates moved down by three basis points or 3/100 of a percent to 2.56% to end the week. Two year CD rates followed the downward action with a tad more vigor. Two year CD rates in Illinois were down by four basis points to close the week with an average yield of 2.83%. Illinois CD rates with a five year term moved in the opposite direction, squeaking out a small increase in yield, moving from 3.68% to 3.89%.
The top six month CD rates remain well ahead of the national averages. The best six month CD rate in Illinois is at STC Capital on their limited deposit CD that has an interest rate of 2.75%. This bank CD account is limited to amounts not exceeding $25,000.00. The next best six month CD rate in Illinois drops considerably to 2.25%. This CD rate can be found in a few Illinois banks including; BankChampaign, First Bank of Highland Park and International Bank of Chicago.
One year CD rates are also beating the national rates, with the lowest one year CD rate on the list surpassing even the best national rate. The highest one year CD rate in Illinois is at Builders Bank which offers the CD with a rate of 2.60%. The best bank rate within the category is at First Bank of Highland Park on their 17 month CD that yields 2.75%. Several Illinois banks market one year CDs at 2.50% including; Town Community Bank & Trust, Western Springs National Bank & Trust, Elk Grove Village Bank & Trust and BankChampaign.
Two year CD rates in Illinois remain bountiful even with the low drop in the average rates. The best two year CD rate is now at 3.00% and comes from International Bank of Chicago. Town Community Bank & Trust falls 15 basis points back with a two year CD rate of 2.85%. Only one basis point beneath that rate is a two year CD at State Bank of India which has an interest rate of 2.84% and is also on the best national rate list.
Five year CD rates in Illinois also offer plenty of opportunities. The best five year CD rate stands at 4.00% for the second week in a row on the 59 month term CD from US Bank. Two Illinois banks, All American Bank and First Bank of Highland Park offer five year CD rates at 3.75%. The top three rates in Illinois within the five year term category includes Liberty Bank with an interest rate if 3.60% on an extended, 66 month term.
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.
Illinois CD rates dropped dramatically on the six month and two year CD terms while rising moderately on the one year terms and remaining unchanged for the five year CD terms. The average of the best six month CD rates fell seven basis points from 2.31% to 2.24% to end the week. The one year CD rates increased by four basis points to end at 2.61%. The two year CD rates in Illinois fell from 2.93% last week to 2.86% this week. The five year CD rate average was unchanged at 3.60%.
The six month CD rate leader is a real stand out in Illinois. In a week where the best national rate is unusually high, the best rate in Illinois is soaring above it by 23 basis points. The best six month CD rate in Illinois is marketed by STC Capital Bank at 2.75%. This a limited offer that restricts the amount deposited to $25,000.00. The next best bank rate makes a large drop down to 2.25% and can be found on a six month term at International Bank of Chicago and on a nine month term at First Bank of Highland Park.
The best one year CD rate in Illinois is an odd month product from First Bank of Highland Park that has a 17 month term and an interest rate of 2.75%. This CD rate exceeds the best national rate which is presently led by a Chicago based bank, Corus Bank, with an interest rate of 2.63%.
The best two year CD rate average in Illinois fell for the week but the highest rates still remain above the best national rates as well as most state two year CD rates. The highest two year CD rate in Illinois stands at 3.00% and is available at Broadway Bank as well as International Bank of Chicago. Evergreen bank Group falls in to the next slot with a two year CD rate of 2.85%. State bank of India in Chicago is the third highest rate and the second highest rate on the national list.
Five year CD rates in Illinois were unchanged for the week with the highest CD rate resting at 3.75%. This rate is above the best national rate and can be found at All American Bank and Inland Bank & Trust. Liberty Bank holds the next best five year CD rate at 3.60%. This list concludes with a few banks offering 3.50% rates including CenTrust Bank, Midwest Community Bank and US Bank.
The best certificate of deposit rates in Illinois came to a split decision this week with the six month CD rates improving, the one year CD rates falling, the two year CD rates rising and the five year CD rates staying put. The six month CD rates and two year CD rates have the greatest opportunities with rates that are well above the best national rates.
The best six month CD rate stands out with STC Capital Bank in St. Charles certificate that has an interest rate of 2.75%. The next three banks on the list all have CD rates that are above the best national rates but are a large step down from the term leader. CenTrust Bank has a six month CD with an interest rate of 2.35%, First Bank of Highland sneaks on the list with a nine month CD at 2.25% and International Bank of Chicago has a six month CD that earns 2.25%.
The one year CD rates in Illinois continue to fall behind the best national rates. The best one year CD rate is available from Corus Bank at 2.68%. Corus is on the national list as well but stands in second position behind Ally Bank’s 2.80% one year CD. The average of the highest CD rates with a one year term dropped from 2.64% last week to 2.57% this week. The second highest CD rate is this category has an extended, 18 month term and is with State bank of Countryside at a rate of 2.61%. Park National Bank is one basis point or 1/100 of a percent lower with an interest rate of 2.60% on their one year CD.
The best two year CD rate remained unchanged at 3.00%, above the best national rates, and is now available at four Illinois banks. American Eagle Bank, Midwest Community Bank, International Bank of Chicago and Broadway Bank all promote two year CDs that yield 3.00%. With the increase in the number bank CD offers at this rate the average for the term rose from 2.80% to 2.93% for the week.
The best five year CD rates in Illinois were unchanged but the banks that offer the best rates have. The highest CD rate for the five year term is 3.75% and can be found at All American Bank as well as Inland Bank and Trust. Then top bank rates match the best national rates available. The average CD rate for this term remains at 3.60% for the week.
CD rates in Illinois slipped a few basis points on average for the week ending May 22, 2009. While the average for the best CD rates lost ground the highest CD rates for each term remained in tact with the exception of the one year CD. The best one year CD rate in Illinois dropped to 2.71% from 2.75% the previous week. This is the only term in which Illinois bank rates are below the best national CD rates. Fortunately, the depth of CD rates in this category is fairly vast. Corus Bank offers the top rate at 2.71%, the next best one year CD rate is only one basis point or 1/100 of a percent lower at 2.70% with Park National Bank’s offer at 2.70%. Three banks, Parkway Bank, Bank of Pontiac and St. Charles Bank, promote CDs with interest rates of 2.60% or greater.
The best six month CD rate in Illinois was unaltered, with the six month CD of STC Capital Bank at 2.75%. This rate towers over the best national rates as well as most of the local bank rates. Rates drop immediately to 2.25% with more closely matches the national rates. A rate of 2.25% can be found at First Bank of Highland Park as well as International Bank of Chicago.
The highest CD rates for the two year CDs and five year CDs were steadfast for the week. The best two year CD rate comes form International Bank of Chicago with a two year CD rate of 3.00%. Last week, three banks were offering that same rate. The next best two year CD rate now is the product of Evergreen Bank Group at 2.85%. With the five year CDs, the best five year CD rate belongs to All American Bank and Sterling Federal Bank with CDs at both institutions yielding 3.75%. The lowest rate offered on the list remains at a fairly high 3.50%.
The best certificate of deposit rates in Illinois showed modest changes for the week ending May 8, 2009. The best six month CD rate in Illinois remains ahead of the best national rate and actually increased by three basis points or 3/100 of a percent for the week ending May 8, 2009. The highest CD rate is now being offered by CenTrust Bank which has a six month CD rate of 2.35%. Corus Bank, International Bank of Chicago and Shorewood Bank share the next best CD rates with a six month term at 2.25%. St. Charles Bank comes in a distant third with a shorter, four month CD that has a rate of 2.10%. The list ends with Mutual Bank’s six month CD that is one basis point lowers than St. Charles at 2.09%.
The best one year CD rate in Illinois is down one basis point for the week and lags the best national one year CD rate by 14 basis points. Republic Bank leads the state with an odd month CD that matures in 16 months and has an interest rate of 2.75%. Right behind this product is the one year CD of Corus Bank that has a rate of 2.73%. Park National Bank keeps the race tight with their one year CD that earns a rate of 2.70%. St. Charles Bank markets a one year CD that yields 2.65% to follow Park National. Bank rates remain close with Bank of Pontiac’s odd month CD that matures in 11 months and has an interest rate of 2.63%. Wrapping up the list is Fifth Third Bank’s 18 month CD with a rate of 2.53%.
Two year CD rates in Illinois continue to outshine the best national rates. Three banks offer two year CDs with rates of 3.00% which surpasses the best national rate of 2.90%. International Bank of Chicago, American Eagle Bank and Broadway Bank all offer the two year CD rates of 3.00%. The next highest CD rate drops down modestly from here to 2.85% and is the product of Evergreen Bank Group. Only three basis points lower is the extended term, 29 month CD of Citizens national Bank that has a rate of 2.82%. Cleaning up this list is Bank of Pontiac with a 25 month CD that earns a rate of 2.78%.
The best five year CD rates in Illinois dropped a fair amount with the loss of Broadway Bank’s 4.00% rate. The best CD rates in this term remain above the best national rates even with this loss. Four banks, All American Bank, US Bank, CenTrust Bank and Sterling Federal all offer five year CDs that have rates of 3.75%. Ten basis points lower is the five year CD marketed by Liberty Bank at 3.60%. For the second consecutive week, Fifth Third Bank, rounds out the list with a 53 month promotional CD that yields 3.53%.
The best CD rates in Illinois gained a little ground for the week ending May 1, 2009. All term categories, with the exception of the one year term, exceed the best CD rates offered nationally. Corus Bank is the nationally leader for the six month CD rates and given that the bank is based in Illinois it happens to be the best six month CD rate in Illinois as well. The Corus bank six month CD rate is currently 2.32%. Two Illinois banks share the next spot with CD rates of 2.25%. International Bank of Chicago offers this rate on a six month CD while Shorewood Bank is promoting the same CD rate on a seven month CD. First Bank of Highland Park also promotes a seven month CD but has a rate measurably lower at 2.15%.
The best one year CD rates in Illinois are also led by Corus Bank with a CD rate of 2.76%. Unfortunately, Corus is not the national leader; GMAC Bank is leading with a one year CD rate of 2.90% which makes this the category where the state rates lag the national rates. A mere one basis point back is the 16 month CD of Republic Bank that earns a rate of 2.75%. Two banks offer CD rates of 2.70%, Broadway Bank and Park National Bank. St. Charles Bank has a one year CD with an interest rate of 2.65% to follow and State Bank of India wraps the two year list up with a rate of 2.63%.
The best two year CD rates in Illinois affords plenty pf choices. There is four way tie for the highest CD rate in this term with a rate at 3.00%. This rate is 10 basis pints above the best national rate and can be found at American Eagle Bank, Broadway Bank, First Bank of Highland Park and International Bank of Chicago. Evergreen Bank Group remains in the second spot with a two year CD rate of 2.85%. The list concludes with the two year CD of State Bank of India at 2.84%.
The top five year CD rate remained unchanged, however the list gained some depth with all but one bank beating the best national rates. Broadway Bank stays out in front with a five year CD rate at 4.00%. All American Bank, US Bank, CenTrust Bank and Sterling Federal are now all offering five year CD rates of 3.75%. In clean up position is the promotional CD of Fifth Third Bank with a new 53 month CD that earns a rate of 3.53%.
The best CD rates in Illinois declined for the week ending April 24, 2009. The majority of the decline was due to the expiration of several bank CD promotional rate that are now not available. While the averages have declined, opportunities still abound especially in the longer term, two year and five year CD rates.
The best six month CD rate in Illinois is offered by the bank with the top national rate as well. Corus Bank is a perennial leader in the best six month and one year CD rate divisions. Presently, Corus Bank has a six month CD rate of 2.32%. Second place belongs to International Bank of Chicago with a six month CD that has an interest rate of 2.25%. International Bank of Chicago is a full service bank headquartered in Chicago with four bank branches. The bank is well capitalized and earned a profit to end the fiscal year of 2008. First Bank of Highland Park is up next with a seven month promotional CD that is five basis points back. The First Bank of Highland Park CD has an interest rate of 2.15%.
The best one year CD rate in Illinois lost a little ground with the loss of some of the promotional CD rates around this term during the past weeks. The highest CD rate is again a product of Corus Bank. The bank has a one year CD that earns a rate of 2.76% that leads the one year CD rates in Illinois and places second on the best national one year CD rates. AMCORE Bank and International Bank of Chicago are in second position for this term with CD rates at 2.75%. The AMCORE Bank rate is based on a 14 month term while the International Bank of Chicago rate is based on an 18 month term. Two banks share the next best CD rate as well, Park National Bank and Broadway Bank, with CD rates of 2.70%.
The rate for the best two year CDs in Illinois do not change for the week. The best two year CD rate of 3.00% is being offered by three different banks. International Bank of Chicago offers the rate on a two year term CD. Broadway Bank promotes the 3.00% CD rate on a 25 month term. First Bank of Highland Park markets the 3.00% CD rate on a longer, 30 month term. Evergreen Bank Group dropped their rate by five basis points for the week to have a two year CD with a rate of 2.85%. Citizens National Bank and State Bank of India round out the list with CD rates of 2.82% and 2.84%.
The highest five year CD rate in Illinois was unchanged for the week. Broadway Bank continues to lead the list with a five year term CD that earns a rate of 4.00%. Broadway Bank is headquartered in Chicago and has four bank branches in and around the Chicago metropolitan region. US Bank and All American Bank are in the second spot, 25 basis points back, with five year CD rates of 3.75%. The remaining banks with the best five year CD rates all offer rates at 3.50%.
The best CD rates in Illinois for the week ending April 17, 2009 runs a wide range of rates and offers. The best six month CD rate comes from the Bank of Pontiac with a seven month special CD that has an interest rate of 2.63%. This CD is a special CD that has strings attached. The account is available to the bank Fun Saver members that require a checking account and a minimum age of 50 or greater. The next best rate slides down pretty far to 2.30% and is provided by St. Charles Bank & Trust Co. on their nine month term CD. Midwest Bank follows close behind with a seven month CD rate of 2.25% which is the equivalent of the best national rate for the week.
In the one year CD grouping, AMCORE Bank leads the pack with a 14 month CD that yields 2.90%. International Bank of Chicago runs 15 basis points beneath that rate with an 18 month CD that has a rate of 2.75%. Corus Bank is in third position, second place behind GMAC Bank on the national list, with a one year CD rate of 2.74%. Park National Bank and Broadway Bank have CD offers at 2.70%, Park National is for a straight one year term while Broadway Bank is for 13 months.
The best national rate for the two year CD term is 2.90%. Illinois has four banks offering 3.00% for this category. International Bank of Chicago with four bank branches in and around the city of Chicago, First Bank of Highland Park, Evergreen Bank Group and Broadway Bank all have two year CD rates of 3.00%. Broadway Bank is for a 25 month term while First Bank of Highland Park and Evergreen Bank Group are for 30 month terms. The group ends with Citizens National Bank which offers a 29 month CD at a rate of 2.92%, also above the best national rate.
The best five year CD rate in Illinois is a full 25 basis points above the best national rate. Broadway Bank has a five year term CD that earns a rate of 4.00%. The next best offers drop to 3.75% and can be found at US Bank, Sterling Federal Bank and All American Bank. This list winds up with the five year CD promoted by AMCORE Bank which has an interest rate of 3.50%.