Illinois CD Rates
Since we looked at Indiana yesterday, we here at Online Banks Blog thought we’d better look at their neighbor in Illinois today. So today we’re looking for the best CD rates available in Illinois right now.
As we did before, we’ll look at 1, 3, and 5 year terms and list by annual percentage yield (APY). We’ll also include any minimum deposit requirement to open and maintain the account fee-free.
For the 1-year term, CD rates in Illinois are pretty good with a 1.55% APY available at both Flagstar and Harris, requiring a $500 and $1,000 minimum deposit respectively. Ally then enters with a 1.49% APY with no minimum requirement while Hoyne Savings has a 0.86% APY with a $500 minimum deposit. BankFinancial is worth mentioning at 0.85% APY as well ($1,000 minimum). National average is still 0.69% APY.
Next, we look at CD rates in Illinois for a 3-year term. Ally Bank is on top with a 2.29% APY and no minimum deposit requirement. First Savings Bank of Hegewisch has a 2.20% APY witha low $500 minimum deposit required. Then BankFinancial has a 1.70% APY with a $1,000 minimum deposit requirement. National average for this term is 1.43% APY.
Last but not least, we go to the 5-year term to find the best CD rates available amongst Illinois CD rates. The lineup is basically the same with Ally Bank at 2.94% APY, First Savings Bank of Hegewisch at 2.65% APY, and BankFinancial at 2.60% APY with $0 deposit required at Ally and $1,000 required at the others. National average here is only 2.00% APY.
All banks listed are FDIC insured.
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