Dedicated to Deposits: Deals, Data, and Discussion

5.00% 6 and 12-Month CD at CenTrust Bank in Illinois ($25K Max)

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Update 9/28/08: This special CD is no longer listed at the bank's website. Please check the bank's website for the latest specials and rates.

CenTrust Bank is offering a special CD yielding 5.00% APY for terms of 6 or 12 months. The maximum deposit is $25,000 per local household. The minimum deposit is $500. The account must be opened in the branch. Please refer to the promotion page (pdf) for more details.

In addition to the 5% special, the bank is listing a 4.50% APY 24-month CD and a 4.00% APY CD with terms from 4 to 12 months. These don't have the $25K maximum deposit. 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.

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 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).

  Tags: Illinois, CD rates

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Comments
Comment #1 by Sean (anonymous) posted on
Sean
What is a Charter Account? With a charter account, is the rate 5.50% APY?

1