Dedicated to Deposits: Deals, Data, and Discussion

7.77% 7-Month CD at an Illinois Bank - $7.7K Max (Bridgeview).


Update 1/19/08: The promotion is no longer listed at the bank's website. Please refer to the bank's website for the latest rates and promotions.

Bridgeview Bank is offering a special 7.77% APY 7-month CD. The minimum is $2,500, and the maximum is $7,777.77 per household. It's only for new customers, and a qualified checking account is required with direct deposit. Direct deposit must be established within 45 days or CD will be penalized by reducing the APY to 3.50%.

Bridgeview Bank had a 10% CD promotion in August with a $25K max. This new one isn't quite as good, but it's not too bad. With a 7.77% APY, a 7-month term and a $7,777 deposit, you'll make about $125 over what you would earn in a 5% account. So this is comparable to a checking account bonus.

Qualifying checking accounts include Preferred, Premimum or Prime Checking. The Prime Checking is the best deal, but it's only available to those over 50. The next best one is the Preferred Checking which only has a $500 minimum to avoid a monthly fee. Please see this bank's page for a comparison of these checking accounts. The checking account must remain open for 6 months to avoid a $25 closing fee.

Based on the last CD promotion, this one likely requires a branch visit. Branches are located in Chicago and several other cities in northeastern Illinois. The bank is FDIC insured (FDIC Certificate # 21122).

Thanks to FW member km who posted this special in the FW CD thread.

  Tags: Illinois, CD rates

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Comment #1 by Anonymous posted on
The bank has the following promotion: If the friend opens an account, you and the friend receive $75.00 each.