Great American Bank is now offering the best midterm and long term CD rate in Illinois. Illinois residents can open a bank CD at Great American Bank for a two year term and receive a 3.00 percent annual yield. The only catch to the account is that the deposit amount to earn this CD rate has to be between $500.00 at a minimum and $5,000.00 as the limit or maximum amount. However, the 3.00 percent CD interest rate is the best CD rate on a two year term and eclipses the rates that are currently available on the best national two year CD rates as well as the best five year CD rates.

Great American Bank is located in the western suburb of Naperville, Illinois. Great American Bank is a branch of Mutual Federal Bank. Mutual Federal Bank operates two bank branches which includes the branch of Great American Bank in Naperville. Mutual Federal Bank is a federally chartered savings and loan association based in Chicago that was founded in 1905.

Great American Bank is a full service bank that offers a number of other savings options. The banks standard CDs offer competitive fixed interest rates for terms ranging from 3 months to 5 years. The Great American Bank money market account has a current interest rate of 1.25 percent for balances over $2,500.00. The money market account is a variable rate bank savings product that allows limited check writing capability. The bank money market account also provides free online banking, free checks, a free ATM or debt card and more.

Great American Bank is also promoting a savings account for children called the GreatKids savings account. There is a $25.00 minimum to open the savings account. The current rate on the childrens savings account is 1.01 percent.

Additional bank products and services offered by Great American Bank include home loans, bank IRA CDs, a variety of checking account options as well as business deposit accounts.

Great American Bank can be reached directly at 630-352-5700. The bank web address is www.mygreatamericanbank.com.

The CD rates and other bank rates posted are accurate as of this publication date but are subject to change at the bank’s discretion. Bank fees may reduce the annual percentage yield disclosed. There may be penalties for early withdrawal of funds from the bank CDs.

To see more CD rate information for the best CD rates by term please refer to 6 month CD rates, 1 year CD rates, 2 year CD rates and 5 year CD rates. For the best savings account rates and money market account rates please see Savings Account Rates or Money Market Account Rate

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