Dedicated to Deposits: Deals, Data, and Discussion

4.00% 6-Month / 4.25% 60-Month CD at an Illinois Bank (Millennium)

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Update 4/05/08: The CD rates have fallen. Please check the bank's website for the latest rates.

Update 3/08/08: The rate on the 6-month CD rate has fallen from 4.26% to 4.00% APY, and the 60-month CD rate has fallen from 4.50% to 4.25% APY. The title has been modified to reflect this change.
Update 2/16/08: The rate on the 6-month CD has gone down from 4.50% to 4.26% APY. Title has again been modified to reflect this change.
Update 2/08/08: The rate on the 6 and 60-month terms has gone down from 4.75% to 4.50% APY.

Millennium Bank is offering 4.75% APY on its 6 and 60 month CDs. The minimum deposit is $1,000. The next highest yield is 4.50% APY for the 12 and 48 month terms. These CDs are also available in an IRA. Please see rate table for more details.

My last post on this bank was in October 2007 when it was offering a special 5.55% 5-month CD.

It's a newly established small community bank located in Des Plaines, Illinois which is the northern suburbs of Chicago. It appears to be a local deal. Note, this bank has no relationship to the foreign Millennium Bank (see post). This Illinois Millennium Bank is FDIC insured (Certificate # 58348).
  Tags: Illinois, CD rates, IRA rates

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Comments
Comment #1 by Bill (anonymous) posted on
Bill
As of their rate schedule dated February 7, the rates of these 2 CDs have both been lowered to 4.5% [http://www.milbnk.com/milbnk_selecteddepositrates.asp]

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