bank rates

No Lion: Harris Bank’s CD Rates Just OK

Chicago bank's CD specials are its best bet.Harris Bank’s special CD rates are only good in Illinois, Indiana and Wisconsin — the states where the Chicago-based bank has some 300 branches.

But those specials are just OK.

With a $5,000 minimum deposit, Harris Bank is offering 0.85% APY for 13-month CDs, and 1.75% APY for 45-month CDs.

Both easily beat the average annual yields large banks and thrifts are paying for corresponding terms. This week, that’s 0.45% for 12-month CDs, 0.97% for 36-month CDs and 1.62% for 60-month CDs.

But to qualify for these specials, you must have or open a checking account with the Harris Bank (www.harrisbank.com). Otherwise, you’ll earn only 0.75% APY for the 13-month CD and 1.55% APY for the 45-month CD.

Also, that $5,000 minimum deposit must be “new money,” or money Harris Bank hasn’t seen before in your account.

Even with these stipulations, the specials are by far the best Harris Bank has to offer.

Nearly all of its standard CDs are below average.

We’re talking 0.10% APY for 3-month CDs (versus an average annual yield of 0.17%) and 0.35% APY for 12-month CDs (versus 0.45%).

The only above-average standard CD term is for 24-month CDs, for which Harris Bank is paying 0.70%.

Don’t get too excited: The average for that term this week is 0.66%.

Hardly a sound beating.

Like most big banks, Harris Bank allows you to search for CD rates by geographic area. But I put in a sampling of ZIP codes from around the country and found no variance.

Before you settle below-average rates, be sure to check out our CD Rates Leaderboard for the top nationally available rates.

Then find better deals by comparing Harris Bank’s returns with the best CD rates from scores of other banks in our extensive database.

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  1. Kathy at Bankaholic said:
    on July 25th at 11:20 am

    These rates are all still offered.