Dedicated to Deposits: Deals, Data, and Discussion

4.30% 15-Month / 4.00% 7-Month CD at a Chicago Bank (Cole Taylor)

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Cole Taylor Bank
Update 8/16/08: The 15-month CD special yield has fallen from 4.40% to 4.30% APY. The title has been modified to reflect this change.

Cole Taylor Bank has again increased some of its promotional CD rates. The special 15-month CD yield increased from 4.10% to 4.40% APY. There's also a special 24-month CD with a yield of 4.50% APY and a special 7-month CD with a yield of 4.00% APY. The other special CDs have the same rates that I reported in my last post in July: 5.25% APY 60-month, 4.75% APY 36-month and 4.00% APY 11-month. 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 2-star rating (problematic) at BauerFinancial (down from 3 stars in July), but only a 1-star rating (lowest) at Bankrate.com. Both ratings are based on 3/31/08 data.

Thanks to the reader who mentioned these new rates in the comments.

  Tags: Illinois, CD rates, Cole Taylor Bank

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