Dedicated to Deposits: Deals, Data, and Discussion

5.55% 5-Month CD at an Illinois Bank Plus iPod nano or $200 Checking Account Bonus (Evergreen Private Bank)

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Evergreen Private Bank has a promotion with several good deals. These include:
  • iPod nano or $200 credit for opening a Cornerstone Checking account with direct deposit. Must maintain balance above $0 or a $10 monthly fee is assessed. $150 fee applies if closed within 6 months.
  • 5.00% APY checking account with minimum $15K balance, 4.00% APY with $10K min and 3.00% with a $1K min. No interest for balances under $1K.
  • 5.75% APY money market account for balances over $25K for the first 3 months. After 3 months the rate falls to the standard rate (currently 5.25% APY). $50 fee applies if closed within 6 months.
  • 5.55% 5-month CD with a minimum deposit of $10K

I'm not sure about the $0 balance requirement to avoid the $10 fee. This seems like it might be a typo. I just cut-and-pasted this detail from the promo page. You may want to check with the bank on this. Another nice perk is that the bank will reimburse your ATM surcharges on all ATMs for up to $20 per month.

Evergreen Private Bank is located in Oak Brook which is in the suburbs of Chicago. Main phone # is (630) 413-9580 and the toll free # is (888) 505-BANK. The bank is FDIC insured (FDIC Certificate # 35230).

Thanks to the reader who mentioned this promotion in the comments of the finding deals post.

  Tags: Illinois, CD rates, checking account

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Comments
6 Comments.
Comment #1 by CaspianXI (anonymous) posted on
CaspianXI
I think that the $0 minimum is correct, as it's reflected on their account comparison page:

http://www.evergreenprivatebank.com/personalDepProducts.html

Could it be that the fee is for bouncing checks?

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for pointing out the account comparison page. Perhaps, it is correct. I never have seen wording like that before. It does state that it's a monthly fee, so I would guess NSF charges may be on top of this.

1
Comment #3 by Anonymous posted on
Anonymous
I think, you need to maintain a minimum balance of $1000 and also have a direct deposit to account to qualify for the promotion. But still a good deal

1
Comment #4 by Anonymous posted on
Anonymous
Does anyone know if this back accepts ING, Paypal, and ACH push as a Direct Deposit ?

1
Comment #5 by Anonymous posted on
Anonymous
Called and was told in person at branch only. But some of those promo APRs are pretty good (5.75% w/ $25K or more, resets to 5.25% after 90 days from opening date - not bad, close enough to FNBO, etc, to make it worthwhile if you needed the associated checking feature).

1
Comment #6 by Anonymous posted on
Anonymous
I called as well 7/21/07 5:45 PM and was told that either account (money market or checking) must be started in person at the branch. As yet they have no IL branches beyond Chicago area.

1