Dedicated to Deposits: Deals, Data, and Discussion

4.50% CD with Terms of 4 to 12 Months at CenTrust Bank in Illinois

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CenTrust Bank is offering a new CD special with a yield of 4.50% APY for terms of 4 to 12 months (your choice). The minimum deposit is $500, and the maximum is $100,000 per local household. Note, the promotional page (pdf) specifically states that the account must be opened in the branch. The small print of the promotion page states that New Charter Accounts receive 0.50% APY higher rate. Details of the Charter Account requirements are listed at this bank page.

Two weeks ago this bank was offering a 5% 6 and 12-month special CD. This new special seems to have replaced the 5% deal. Although the rate is lower, the old special capped deposits at only $25K.

The bank is located in Northbrook, Illinois which is in the northern suburbs of Chicago.

It's a fairly new bank that was established in 2006. Its financial ratings for soundness are a little weak: 3 stars (adequate) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both are based on 6/30/08 data. The bank is FDIC insured (FDIC Certificate # 58158).

Related Pages: Illinois, CD rates

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