5.25% 9-Month CD at an Illinois Bank

Mar 2, 2006 - 8:21 AM by Ken Tumin

Prairie Bank and Trust Company is offering a 5.25% APY 9-month CD. There's also a 15-month CD with this same rate. All of the certificates have a $1000 minimum deposit requirement and are availble in IRA accounts. Credit for this find goes to eMoneyCentral.

The bank has 5 branches in several Illinois cities including Chicago.

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bobert (anonymous) - #1, Friday, March 10, 2006 - 2:08 PM

I called the bank and they want you to come in person to open the account. When I told them I was out of state, they said you must have a residence in the state.

I guess they think they are a credit union.

Banking Guy (anonymous) - #2, Friday, March 10, 2006 - 6:42 PM

Thanks for checking on this CD special and posting the details.

Unfortunately, many local banks restrict accounts to state residence. I'm not sure if it has any relation to their bank charter or if it's just the manager's decision. I wished they would at least mention this when they advertise the special.

5.25% 9-Month CD at an Illinois Bank

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