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Best Illinois CD Rates

Illinois has a lot of banks to offer, but it was hard to find any with truly stellar rates. The Best IL CD Rates are so, so, but as usual if you don’t mind getting out of your comfort zone a little, you can do much better. But for those that want to stick with Illinoise bank cD Rates, here ya go.

Northern trust Company — FDIC 913 — Est. 1889 — 4-Stars — $68.8 BB — 10,000 employees.
A piece from their website: “More than a financial provider, we identify and understand your life goals and then create a dynamic wealth management solution to help you achieve them.” CD Rates not posted. Northern Trust company offers all sorts of investment and wealth management services.
Located: 50 South Lasalle Street, Chicago,IL

Harris National Association — FDIC 16571 — Est. 1947 — 3 1/2-Stars — $43.9BB — 5,200 employees
CD Rates:
1-year — 0.594%
30-months — 0.79%
5-year — 1.29%
Harris NA also has a $10,000 relationship MMA at 0.095% and $100,000 at 0.643%. Wow! Pretty soon we may be paying backs just to hold our money and have it FDIC insured.
Located: 111 West Monroe Street, Chicago,IL 60603

MB Financial, National Association — FDIC 3628 — Est. 1933 — 3 1/2-Stars — $10.8BB
1,600 employees. Something from their website, “MB, Means Business”
MB Financial has CDs, IRAs, HSAs (not many instituions handle Health Savings Accounts)
Certificate of Deposit Rates:
1-year — 0.75%
2-year — 1.30%
5-year — 2.60%
MB also has Money Market accounts at an interest rate 0.25%.
IRA CD rates are the same as the regular CDs. Maybe it was mean business. Those interest rates aren’t very nice.
Located: 800 West Madison Street, Chicago, IL.

First American Bank — FDIC 3657 — Est. 1901 — 3-Stars — $2.86B
560 Employees. Sadly, they aren’t really the First American Bank, but a nice name. Although I think they could have spent a little more money for a better name.
CD Rates:
6-month — 0.50%
9-month CD Rates — 0.65%
1-year — 0.75%
5-year 2.50%.
First American Bank also has HSAs and IRAs.
Located: 700 Busse Road, Elk Grove Village,IL

American Chartered Bank — FDIC 27006 — Est. 1987 — 2-Stars — $2.74 Billion
374 Employees.
CD Rates:
1-year — 1.05%
4-year — 2.50%
5-year — 2.96%

Old Second National Bank — FDIC 3603 — Est. 1887 — 2-Stars — $2.5BB
Hey, the name is better than a FNB (First National Bank). And they weren’t kidding about the old part. Plus the Bank has a nice domain, oldsecond.com
CD Rates:
12 month — of 1.00%

The Below interest rates require a checking account. Subtract 0.25% without it.
18 month — of 1.26%
24 month — of 1.26%
30 month — of 1.26%
36 month — of 1.51%
48 month — of 1.76%
60 month — of 3.03%

Online Special (Requires funds to be new money coming into Old Second). Ahh, the new joining the old. Seems very poetic.
18 month — of 1.51%

Morton Community Bank — FDIC 18429 — Est. 1961 — 4-Stars — $2.3BB
The bank has a couple of good CD specials:
7-month — 1.31%
17-month — 1.81%
5-year — 3.26%
10-Year — 4.07% (Requires $100,000)
Morton Commmunity has a great Hometown Rewards checking account with a yield of 2.01%

Amcore Bank, NA — FDIC 3735 — Est. 1931 — Zero Stars (ouch!!) — $3.8BB — 938 Employees.
Some other not so happy statistics: ($213MM Loss) — 2.58% E/A (good would be above 7%) — 7.07% Total Risk Based Capital Ratio (good would be above 10%)
Certificate of Deposit Rates:
2-year — 1.95%
18-months — 1.75%
12-months — 1.50%
One idea: Go for the 2-year and hope for closure and take a no penalty withdrawal.
Location: 501 Seventh Street, Rockford, IL 61104

ShoreBank — FDIC 15640 — Est, 1939 — Zero Stars (Ouch times 2!!) — $2.3BB
Must be something in the water. 66 Employees.
More unhappy financials: ($55.6MM) Loss — E/A 4.2% — RR 8.30%. If I was going to pick banks close to failing, these two would be near the top.
ShoreBank’s has an online savings at 1.07% APY
Another interesting offer: Community Leadership Certificate of Deposit — 2.01%. Interesting name given their lack of financial health.
Other CD Rates:
6-month — 1.27%
1-year — 1.30%
60-months 2.63%

Jumbo Certificate:
2-year CD — 2.01%
5-year CD — 2.68%

18-month IRA CD at 1.78%
Location: 7054 South Jeffery Avenue, Chicago,IL 60649

First Midwest Bank — FDIC 3709 — 1933 — $7.76BB — 3-Stars — 1700 Employees
Located: One Pierce Place, Suite 1500
Itasca, IL 60143 — Took about 5-clicks to get rates. That’s a bummer. They also offer HSAs (Health Savings Accounts) and IRAs. CD Rates: 6-months at 0.65%; 1-year at 1.00%; 36-months at 2.10%; 5-year at 2.80%. HSA rate for $2500 and above is 1.25%, that’s pretty good.

West Suburban Bank — 1962 — 502 Employees — $1.93BB — 3 Stars.
12 months thru 17 months 1.00
18 months thru 23 months 1.15
24 months thru 29 months 1.40
30 months thru 35 months 1.50
36 months thru 47 months 1.90
48 months thru 59 months 2.25
5 years
701-711 South Westmore Avenue
Lombard,IL 60148
FDIC Certificate #: 18509 Health savings accounts, rates range form 0.75% to 1.00%.

Lake Forest Bank and Trust Company — Founded in 1986 as Crabtree Trust Company. In 1991 changed name and became FDIC insured. — $1.81BB — 353 Employees
6 months 0.25%
12 months -0.60%
18 months – 0.75%
24 months 0.95%
30 months – 0.95%
36 months – 1.45%
48 months – 1.70%
60 months – 2.10%
They have some bonuses, but it only adds 10 to 20 Basis points to the rates and the rates are really quite lowsey.
727 North Bank Lane
Lake Forest,IL 60045
FDIC Certificate #: 27589 — 4-Stars

Marquette Bank — 4 Stars — Est. 1945 — FDIC# 467 — $1.8BB
6316 South Western Avenue
Chicago,IL 60636
FDIC Certificate #: 16250
5 year – 2.35%
4 year – 1.60%
3 year – 1.40%
30-Month – 1.20%
2 year – 1.00%
18-month – 0.80%
1 year – 0.65%
6 months – 0.45%
Advertising a 7-month special for 0.80%. I suppose it isn’t bad, but there is better.

Bridgeview Bank Group — FDIC Certificate #: 21122 Date Established: 6/21/1973
Located: 7940 South Harlem Avenue
Bridgeview,IL 60455
222 Empl. $1.5BB — 3-Stars —
They have a 19-month CD special at 1.90%. Minimum deposit is $10,000. That is a pretty good rate.

Heartland Bank and Trust Company
Located : 401 North Hershey Road
Bloomington,IL 61702
FDIC Certificate #: 20369 Date Established: 2/22/1971
4-Stars
6 month – 1.12%
9 month -1.23%
12 month 1.28%
14 month [Special] -1.70% — NEW MONEY ONLY – For personal accounts only: $100,000 limit.
15 month -1.35%
18 month -1.46%
21 month -1.46%
24 month -1.73%
27 month -1.73%
30 month -1.77%
36 month -2.14%
48 month [Special] -2.49%
60 month [Special] -2.80%

THE National Bank – yes “THE” is in all caps. A little arrogant, I think. Especially given that they were just established in 2005 — 3-Stars — 41 banks in the us that start with National. I really think they should have tried to be more unique with their name.
Located: 2040 1st Street A
Moline,IL 61265
FDIC Certificate #: 57918 — Date Established: 4/11/2005
1-year CD: 1.65%
18-month CD: 1.65%
30-month CD: 2.00%

Something to note: They have made quite a few acquisitions, but their growth seems extreme. The NB Started with $26MM and are now $1.26BB. They went from 26 Employees to 317.

AllState Bank — 3-Stars — 57 Empl. $1.2BB
Located : 3100 Sanders Road, Suite N4a
Northbrook,IL 60062
FDIC Certificate #: 34782 — Date Established: 11/18/1998
CD 1 year 1.10%
CD 2 year 1.30%
CD 3 year 1.70%
CD 5 year 2.40%
High Yield Savings — 1.05%

Castle Bank, NA — 3-Stars — 1.06BB — 290 Empl
Located: 141 West Lincoln Highway
Dekalb,IL 60115
FDIC Certificate #: 13908 — Date Established: 6/15/1859
Two Clicks for rates, nice.
6-month at 0.50%
1y at 0.75%
2Y at 1.10%
57-month special at 3.00%

There you go. A pretty good round up of IL CD Rates. Don’t be shy to let us know what you found. And remember, please verify insurance, rates, and ratings of any bank or credit union you wish to make a deposit with.

Best 1-Year CD Rates

2 Comments

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    Comment by James — July 6, 2010 @ 2:02 pm

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    Comment by Administrator — July 17, 2010 @ 12:38 pm

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