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Image Courtesy: www.pixabay.com
You are viewing rates from banks across Chicago
Below are the best one-year CD Rates from banks in Chicago, Illinois. One year CDs are usually the most popular term and offer a decent yield without having to lock-up money for an extended period of time. One year CD Rates are generally comparable to or a little higher than their savings and money market counterparts.
Chicago, IL - December 3, 2024
1 Year CD National Average : 0.55% ?
| Banks | APY | MIN | MILES ? | |
|---|---|---|---|---|
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5.65% |
$5,000 |
- |
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Rate History: 5.05% → 5.80% → 5.65% |
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5.06% |
$2,500 |
- |
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Rate History: 5.41% → 5.01% → 4.59% → 4.40% → 5.06% |
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4.50% |
$2,500 |
- |
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grudge | Aug 21, 2019 this bank does not honor rates they publish.. stay away Read More |
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4.50% |
$1,000 |
- |
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Rate History: 4.85% → 5.15% → 5.05% → 4.50% |
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george | Feb 9, 2021 The wonderful assistants at Beal Bank are wonderful. Rebeca took great care of me and made sure all my concerns were addressed. Read More |
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4.20% 0.30% |
$250,000 $1,000 |
- |
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Rate History: 4.60% → 4.70% → 4.65% → 4.50% → 4.20% |
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NORTY FLATZ | Dec 3, 2019 Have done business with "Hope's" San Diego branch for a few years. Always courteous and helpful. Looking forward to doing business with them in the future. Read More |
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4.00% |
$500 |
- |
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Rate History: 4.18% → 4.75% → 4.60% → 4.05% → 4.00% |
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3.25% 3.00% |
$100,000 $10,000 |
- |
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Rate History: 3.00% → 2.00% → 3.50% → 3.25% |
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Hayley7788d@outlook.com | Jan 2, 2023 Terrible customer service by investment side. Fees too high , too full of themselves Read More |
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2.75% |
$500 |
- |
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Rate History: 1.70% → 3.00% → 2.75% |
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Jabbroadway42 | Nov 17, 2020 Is notarie services available today at a woodforest on wilkinson blvd Read More |
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2.50% |
$0 |
- |
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Rate History: 4.00% → 2.75% → 2.00% → 4.00% → 2.50% |
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Azoic | Feb 25, 2022 I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account. Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary. Accelerate Savings w... Read More |
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2.00% |
$1,000 |
- |
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Mandy | May 8, 2021 Location: 5069 N. Broadway Chicago IL 60640 Read More |
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1.50% 1.01% |
$100,000 $25,000 |
- |
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Rate History: 2.00% → 1.50% |
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Thy King | Feb 6, 2023 after over 100k in transactions through this bank in the course of a year not only did i suffer from fraud but this bank closed my accounts and i have been lliable for all the losses and to top it off with... Read More |
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1.00% |
$1,500 |
- |
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Rate History: 0.10% → 1.00% |
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0.75% |
$1,000 |
- |
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0.72% |
$10,000 |
10.68 |
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0.65% |
$500 |
- |
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0.65% |
$10,000 |
19.81 |
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Ed | Jun 20, 2019 12 month rate not 2.5. Changed to 1.5%. Read More |
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0.65% |
$100,000 |
8.40 |
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0.60% |
$1,000 |
- |
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0.55% |
$10,000 |
23.93 |
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NotURBusiness | Jul 9, 2021 ABSOLUTELY RIDICULOUS how this place is still around in Wheeling. Taking any more than 3 days on a loan check is UNEXCUSEABLE. Having an 800 plus credit rating. A SENIOR. Wanting to move out ofa big hou... Read More |
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0.50% |
$10,000 |
8.40 |
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0.50% |
$5,000 |
- |
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0.50% |
$10,000 |
3.76 |
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0.50% |
$100,000 |
6.17 |
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0.45% |
$2,500 |
23.75 |
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0.40% |
$10,000 |
17.30 |
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0.40% |
$2,500 |
1.85 |
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0.40% |
$10,000 |
7.52 |
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0.40% |
$10,000 |
16.33 |
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0.40% |
$10,000 |
6.17 |
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0.35% |
$100,000 |
17.46 |
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me | Oct 13, 2021 Good for savers. Easy to transfer funds in and out, not paying high transaction processing $ or being limited to low amounts per day. Does not subject applicants to very much ID interrogation and apparent... Read More |
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0.30% |
$10,000 |
12.94 |
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0.30% |
$10,000 |
17.46 |
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me | Oct 13, 2021 Good for savers. Easy to transfer funds in and out, not paying high transaction processing $ or being limited to low amounts per day. Does not subject applicants to very much ID interrogation and apparent... Read More |
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0.30% |
$100,000 |
9.84 |
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0.30% |
$10,000 |
23.88 |
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0.30% |
$10,000 |
17.72 |
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0.30% |
$50,000 |
- |
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0.25% |
$10,000 |
21.08 |
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0.25% |
$10,000 |
17.55 |
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0.25% |
$10,000 |
9.72 |
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0.20% |
$10,000 |
21.03 |
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RobertJ | May 10, 2022 Centrust Bank is excellent to do business with. Friendly and experienced bankers. Read More |
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0.20% |
$1,000 |
9.84 |
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0.20% |
$10,000 |
18.41 |
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0.20% |
$10,000 |
13.43 |
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0.20% |
$10,000 |
11.67 |
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0.20% |
$10,000 |
12.68 |
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0.17% |
$1,000 |
24.75 |
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0.15% |
$100,000 |
21.16 |
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Squittyrules83 | Sep 6, 2022 DO NOT TRUST THIS BANK. I caught them Ted handed trying to hold my funds through various methods even going so far as to not allow me to transfer my funds to another bank. I've been banking with them for... Read More |
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0.15% |
$100,000 |
10.32 |
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business owner | Feb 21, 2019 Please read this for all small business owners. Do NOT use wintrust for any small business loans. They drained me for over 2 months, and I constantly had to contact them to see what is up. We were told ... Read More |
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0.15% |
$10,000 |
5.24 |
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Not a Fan | Jun 26, 2019 On a scale of 1 to 10 GN bank rates a negative 1. While they gladly accept your deposits, they are far from forhright with your withdrawals. Especially if you are withdrawing large sums of money or closing... Read More |
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0.14% |
$100,000 |
0.52 |
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0.12% |
$10,000 |
15.74 |
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0.10% |
$2,500 |
12.68 |
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0.10% |
$10,000 |
23.95 |
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0.10% |
$10,000 |
23.11 |
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0.10% |
$10,000 |
21.16 |
Learn More
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Squittyrules83 | Sep 6, 2022 DO NOT TRUST THIS BANK. I caught them Ted handed trying to hold my funds through various methods even going so far as to not allow me to transfer my funds to another bank. I've been banking with them for... Read More |
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0.10% |
$100,000 |
19.81 |
Learn More
|
|
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Ed | Jun 20, 2019 12 month rate not 2.5. Changed to 1.5%. Read More |
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0.10% |
$10,000 |
19.40 |
Learn More
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0.10% |
$10,000 |
23.46 |
Learn More
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0.10% |
$10,000 |
10.32 |
Learn More
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business owner | Feb 21, 2019 Please read this for all small business owners. Do NOT use wintrust for any small business loans. They drained me for over 2 months, and I constantly had to contact them to see what is up. We were told ... Read More |
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0.09% |
$1,000 |
0.52 |
Learn More
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0.08% |
$10,000 |
14.27 |
Learn More
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Doug | Aug 22, 2017 $100K min on new CD's. They will not bend. So had to take $170K to another bank, now @ 2.5%. Read More |
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0.05% |
$500 |
- |
Learn More
|
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Ugg | Jun 12, 2023 US Bank reported me to dult Protective Services because my husband is 85 and I am63. He got sick and went into a nursing hime for 3 months. My husband always handled the financial affairs. I had to take ov... Read More |
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0.01% |
$10,000 |
16.16 |
Learn More
|
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BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.
A certificate of deposit (CD) is a savings product offered by a bank in which a depositor (someone who has money to put into the bank) agrees to commit a certain amount of money for a set period of time, in return for a fixed rate of interest. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.
The time period in which money is held in a certificate of deposit is called the term. Terms can run for any period of time but in general, banks use the following terms: 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months. Terms can either be described in months or years. The term that is right for each individual depends on their goals, the rate they which to earn, and their future plans for the money. In general, if rates are going up, savers should avoid putting the money into a long-term CD. If rates are going down, then the opposite is true, and savers should try and lock into a good rate for an extended period of time. In stable rate environments, CDs that are over 12 months in length can enable depositors to pick up a slight premium over savings accounts.
Almost all banks provide CDs to their consumers and they have been a mainstay of savers and retirement accounts for years. If FDIC insured, the CD represents a safe place to put money that will generate a predictable return.
Inflation is the main risk of a CD. Inflation can often run higher than the inflation adjusted return on a CD, thus eroding the value of the money stored in the CD over time. This is especially true for longer-term CDs opened in low interest rate environments.
The method of distributing the interest earned on a CD varies by bank. Some banks pay interest monthly, other semi-annually, and others at the maturity of the CD. One advantage of a branch-based bank is that a depositor can walk into the bank and receive their interest that day in the form of a check. Online banks tend to use electronic funds transfer or check via mail.
Since the financial crisis in 2008, CDs have become less popular because the yields they offer have dropped precipitously, making it difficult for retirees and savers to generate sufficient income. But investors looking for a place to stash some cash might still find CDs an attractive place for some of their savings. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.
When interest rates are falling, it is often preferable to lock in high rates for an extended period of time with a longer-term CD. When interest rates are rising, depositors should avoid committing their money for long periods of time. To see interest rate trends, visit the BestCashCow rate analysis page.
All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.
To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.
Find out how much extra money you can earn by moving your bank money into an account that pays more.
Use or Change these Amounts And Rates