Cole Taylor Bank, one of the top ten largest banks based in Illinois, is currently running several CD rate promotions.  The promotional bank CDs are available for a limited time and while Cole Taylor bank is a Federal Reserve member bank, the CDs are marketed and made available to Illinois residents only.  The bank CD terms during this promotion run from six months up to four years. 

All of the certificates are for fixed rate and fixed terms which guarantees the same interest rate until the investment matures.  The minimum balance required to open the promotional CDs is $1,000.  No deposits or withdrawals are allowed and early withdrawal penalties apply.  The marketing material produced by the bank states that these accounts are available only for funds not currently on deposit with Cole Taylor Bank.

The best CD rate offered is on the short term, 6 month CD.  The Cole Taylor Bank six month CD rate is at 0.85 percent in the promotion.  This CD rate falls just slightly behind the highest six month CD rate available nationally which is available at Doral Bank Direct with a rate of 0.91 percent.

The other CD rates and terms involved in the Cole Taylor Bank promotion include:

A one year CD rate that is advertised with a 0.45 percent yield.
An 18 month CD that has an interest rate of 0.65 percent.
A two year bank CD with a yield of 0.75 percent.
And a 48 month certificate that has an interest rate of 1.15 percent.

The bank CD rates listed are current as of October 17, 2012.  The CD Annual Percentage Yields (APYs) and terms are subject to change at any time without notice.

Interested consumers can contact the main customer service number of Cole Taylor Bank at 855-565-9113 or contact a local Cole Taylor Bank branch office for more details and additional bank rates in Illinois.

A list of bank branches with the phone numbers can be found at Cole Taylor Bank locations.

Additional CD interest rates in Illinois are listed at Illinois CD rates.  A list of the top ten best CD rates by term can be found at three month CD ratessix month CD ratesnine month CD rates, one year CD rates, two year CD rates, three year CD rates and five year CD rates.

 All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness.

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