Dedicated to Deposits: Deals, Data, and Discussion

5.50% 12-Month CD at a Chicago Bank - plus 5.50% Money Market Account (American Eagle).


American Eagle Bank
Update 9/30/07:. Rates have gone down. Current promotion is a 5.25% 6-month CD. Top tier of money market account is now 5.10% APY.

American Eagle Bank Chicago continues to offer a decent CD promotion. A yield of 5.50% APY is available for CDs with terms of 6 or 12 months. There's also a 5.35% APY 18-month CD special. The minimum deposit is $1,000.

The bank also offers 5.50% APY on its Platinum Money Market Account for balances over $50k. The yield is 4.50% APY for balances between $15k and $50k, and 2.50% APY for balances between $1k and $15k. A $1k minimum balance is required to avoid a monthly fee.

In July the bank was offering a 6% 6-month money market promotion. Unfortunately, this didn't last too long.

Accounts can only be open by residents of the Chicago metro area. The branch is located at 2129 N. Western Ave, Chicago. The bank was just established last April. It's FDIC insured (Certificate # 58514).

  Tags: American Eagle Bank, Illinois, CD rates

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Comment #1 by Anonymous posted on
Rates have gone done. Only deal promoted currently is a 5.25% 6-month CD.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks. I've updated the post.