Dieterich Bank has new spring time CD rate promotion for customers in down state Illinois.  The bank is offering mid-term certificate of deposit with an odd term.  This CD account has a term to maturity of 15 months and a minimum balance requirement of just $500.00.  The CD promotion has an Annual Percentage Yield of 1.10%.

That’s a yield that is more than four time the national bank rate average for a one year term CD or almost three times the national average for a two year bank CD.  The certificates are federally insured as well.  No risk, high yield and federally insured savings with local service from a community bank.

Along with the 15 month term promotion, the bank is offering a longer term account as well.  Customers can also obtain a 35 month CD for a limited time with a CD rate of 1.61%.  This longer term account also has a $500.00 minimum deposit requirement.

Prospective account holder have to fill out a simple account application, set the term and maturity date according to their needs, either the 15 month maturity or 35 month maturity.  The funds will then be available once the full term is reached for another certificate account, a future investment opportunity, or another situation.

Both accounts may be assessed a penalty for early with drawl of principal from the account.  This means that before the expiration of the term chosen, the depositor should not withdraw the funds.  Early withdrawal penalties for either account are 12 months of earned interest.  Interest rates are fixed and guaranteed for the term of the CD.

Dieterich Bank certificates of deposit can provide an FDIC-insured alternative for the conservative portion of any savings plan or portfolio when savers are able to lock in a rate for a few months on up to several years.

Dieterich Bank is one of the 75 largest banks based in Illinois.  The bank has assets of approximately $600 million.  There are eight branches operated by the bank in Dieterich, Effingham, Belleview, Newton, St. Elmo, and Red Bud, IL.

Rates are current as of April 23, 2017 and are subject to change at any time prior to opening a n account.  Additional terms and conditions may apply.  More information about Illinois bank rates offered or the current account promotion can be obtained by calling a Dieterich Bank customer service representative at 800-699-9766.

Illinois investors should try to shop around for best CD rates in Illinois before opening a new account.

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