Dedicated to Deposits: Deals, Data, and Discussion

3.00% 24-Month CD at American Eagle Bank in Illinois - Local Only

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American Eagle Bank
American Eagle Bank has two competitive promotional CD rates: a 3.00% APY 24-month CD and a 2.50% APY 14-month CD. The 24-month CD is called the One Giant Step CD. The rate is 2.50% APY for the first 12 months, and 3.50% APY for the second 12 months. Minimum deposit is $1,000. These rates are listed on the CD pages for both the bank's Chicago branch and Kane County branch as of 5/21/09.

There's also a checking account promotion in the Chicago branch with a 2% APY gauranteed for 3 months. Direct deposit is required. The promo is for the Platinum NOW Chekcing which requires a minimum $500 balance to avoid a $10/month fee.

This bank had offered many good deals over the last two years. My last report was in February 2008 when it was offering a 4.50% 7-month CD

Accounts can only be open by residents of the Chicago metro area or Kane County.

The two branches of this bank are under two different FDIC charters: American Eagle Bank of Chicago (FDIC Certificate # 58514) and American Eagle Bank in South Elgin of Kane County (FDIC Certificate # 57359). Both of the banks are under the same bank holding company, Orchid Financial Bancorp, Inc. Since they have separate charters, they have different financial ratings: The South Elgin bank has 4 stars (excellent) at BauerFinancial and 4 stars (sound) at Bankrate.com. The Chicago bank has 3 stars (performing) at Bankrate.com, and BauerFinancial doesn't have a rating for the Chicago Bank since it was recently established in 2007. These ratings are based on 12/31/08 financial data.

Other High Certificate of Deposit Rates

For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.
  Tags: American Eagle Bank, Illinois, CD rates

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