bank rates

Chicago Deal: Find 2%, 48-Month CD Rates

Cole Taylor Bank is offering competitive CD rates.Cole Taylor Bank has boosted long-term CD rates at its Chicago-area branches.

With a $1,000 minimum deposit of new money, it now pays:

  • 1.75% APY for 36- to 47-month CDs.
  • 2.00% APY for both 48- to 59-month CDs and for 60-month CDs and longer.

Chicagoans, you really can’t go wrong here.

The top nationally available 60-month CD rate on our CD Rates Leaderboard is 1.86% APY, and the top 36-month CD rate is 1.42% APY.

Unfortunately, these certificates of deposit aren’t among Cole Taylor Bank’s online offerings.

You have to buy them in person at a banking center.

It has three in Chicago, and six others in the suburbs of Burbank, Lombard, Rosemont, Skokie and Wheeling.

The representative I spoke with noted that savers from Illinois’ border states of Indiana, Michigan or Wisconsin may be able to buy these CDs, but it would be at the discretion of the branch manager.

If you’re from outside Illinois, it might be wise to call first before making the trip.

Learn more about Cole Taylor Bank at www.coletaylor.com or call 847-653-7978.

See how these returns compare with the best CD rates from scores of banks in our extensive database.

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  1. Kathy at Bankaholic said:
    on September 21st at 09:28 am

    You can still get Cole Taylor’s 2.00% rate for 60-month CDs, but its other rates have fallen dramatically:
    48-59-month CDs now pay 1.15% APY
    36-47-month CDs now pay 0.95% APY.