Dedicated to Deposits: Deals, Data, and Discussion

5.15% 60-Month CD at a Chicago Bank (Cole Taylor)


Cole Taylor Bank
Update 8/23/08: The CD yields have fallen. New yields are 5.15% APY for 60-month and 4.30% APY for 15-month. The title has been modified to reflect this change.
Update 8/08/08: The yield on the 15-month CD special has gone up from 4.10% to 4.40% APY.

Cole Taylor Bank has again increased the rates on some of its CD promotions. The latest new rates include a 5.25% APY 60-month CD and a 4.10% APY 15-month CD. It's also offering other competitive rates that I first mentioned in this July 14th post: 4.00% APY 11-month CD and a 4.75% APY 36-month CD. The minimum deposit is $10,000, and new money is required.

It appears a branch visit is required to open an account. Branches are located in Chicago, Illinois and its suburbs. The bank has been FDIC insured since 1978 (FDIC Certificate # 22599). It has a 3-star rating (adequate) at BauerFinancial, but only a 1-star rating (lowest) at Both ratings are based on 3/31/08 data.

  Tags: Illinois, CD rates, Cole Taylor Bank

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Comment #1 by Anonymous posted on
In today's Chicago Tribune, the Bank is advertising 4.40% APY for 15 months and 4.0% APY for 7 months as "Summertime" CDs. $10K minimum. New money only. "Substantial penalty" for early withdrawal.