Dedicated to Deposits: Deals, Data, and Discussion

3.65% 30-Month CD at Prospect Federal Savings Bank in Chicago

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Prospect Federal Savings Bank
Prospect Federal Savings Bank is listing several competitive CD rates. The most competitive CDs have terms from 15 to 60 months. Rates range from 3.15% APY for 15 months to 4.00% APY for 60 months. I consider the 30-month term to be the most competitive with an APY of 3.65%. Minimum deposit is $1,000. Jumbo CDs with a $100K minimum are available for some of the terms with slightly higher yields. CDs are also available as IRAs. These rates are listed in the bank's rate table as of 1/23/2009. The table has an effective date of 1/20/09, and are subject to change at any time.

It appears a branch visit is required to open an account. Branches are located in Chicago, Worth and Oak Lawn, Illinois.

The bank has some strong ratings for soundness: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 9/30/08 financial data. The bank has been FDIC insured since 1937 (FDIC Certificate # 27993)
  Tags: Illinois, Prospect Federal Savings Bank, CD rates, IRA rates

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