Dedicated to Deposits: Deals, Data, and Discussion

2.60 12-Month CD at Builders Bank in Chicago - Local Only

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Builders Bank
Builders Bank is offering a 2.60% APY 12-month CD. The minimum deposit is $2,500 ($500 for an IRA CD). The 2.60% APY is also available on the 18-month CD. These rates are listed in the bank's rate sheet (pdf), and according to this sheet, the listed rates are in effect through June 25, 2009.

My last report on this bank was in September 2008 when it was offering a 4.75% 15-month CD. It had been offering good CD deals through much of 2008.

A branch visit appears to be required to open an account. Branches are located in Chicago, Illinois.

The bank's financial ratings for safety and soundness have gone down quite a bit since my September post. It now has zero star (lowest) at BauerFinancial (based on 3/31/09 data) and 1 star (lowest) at Bankrate.com (based on 12/31/08 data). As I recommend with any bank, make sure you keep under the FDIC limits. The bank has been a FDIC member since 1997 (FDIC Certificate # 34613).

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  Tags: Illinois, Builders Bank, CD rates, IRA rates

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Comments
Comment #1 by Anonymous posted on
Anonymous
Down slightly to 2.55% as of June 26.

1