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.

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