Dedicated to Deposits: Deals, Data, and Discussion

4.00% 9-Month / 4.00% 15-Month CD at an Illinois Bank (Midwest).

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Midwest Bank
Update 8/09/08: These CD specials have ended. Please check the bank's website for the latest specials and rates.

Midwest Bank is offering a CD promotion with a 4.00% APY for terms of 9 and 15 months. There's also a 4.25% APY 36-month special CD. The minimum deposit is $10,000. These are also available in an IRA. Please refer to the bank's rates page for more details.

On the rates page, it states that "Midwest Bank serves the five-county Chicagoland area. To better serve our customers, Midwest Bank reserves the right to limit its account (including Certificate of Deposit) offerings to that area." So this appears to be a local deal. There are 29 branches in the Chicago metro area.

The bank has been FDIC insured since 1959 (FDIC Certificate # 18117). It has a 4 star rating (excellent) at BauerFinancial based on 3/31/08 data.
  Tags: Midwest Bank, Illinois, CD rates

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