Lakeside Bank, the ninth largest bank based in Chicago, has a new certificate of deposit promotion on their short term CD account.  The promotional CD has an odd term, eight month term to maturity.  Lakeside is offering a rate of return on this CD account that is more than five times the national average rate on comparable term accounts.  The current yield on this promotion is 1.05% for account holders that have a qualifying Lakeside Bank relationship account.

The comparable average yield on longer term, one year CD accounts is just 0.20% based on national bank rate data promulgated by the FDIC.  The best CD rate on a nine month certificate available nationally is also significantly lower than the offer made by Lakeside Bank, the highest nine month CD rate available nationally is just 0.90%.

The Lakeside Bank CD can be a prudent choice for individuals who want to earn competitive interest rate while saving.  There is a $2,500.00 minimum balance required to open the CD.  Funds to open the account must be new money not currently on deposit with the bank.  Qualifying relationship accounts with Lakeside Bank can be either a checking or savings account with a minimum $500.00 daily balance.

Lakeside Bank offers additional terms and rates on their certificates.  Additional account terms promoted by Lakeside include account maturities that range from 90 days to 60 months.  The bank also offers a 0.90% annual percentage yield on the current promotion if the account holder has no other relationship with the bank.  All accounts have competitive fixed rates of return over a specified period of time.

Income earned on the accounts is available as monthly interest checks or funds may be transferred to an existing Lakeside Bank account.  Additional terms and conditions may apply.  The bank promotion is subject to change without notice.

Lakeside Bank is a locally owned community bank with over $1.2 billion in total assets.  The bank makes a point of reinvesting all of their deposits into the Chicago communities. Lakeside operates six locations throughout the city.  More information on the CD rates and products and service offered by the bank can be obtained by visiting the Lakeside Bank web site at lakesidebank.com or by calling their customer service number at 1-866-892-1572.

No user commented in " Lakeside Bank Short Term CD Rate Promotion "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)