Dedicated to Deposits: Deals, Data, and Discussion

2.50% 18-Month CD & 2.75% 24-Month CD at International Bank of Chicago - Local Only

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International Bank of Chicago
International Bank of Chicago continues to list four competitive CD rates: a 2.00% APY 6-month CD, a 2.25% APY 12-month CD, a 2.50% APY 18-month CD and a 2.75% APY 24-month CD. Minimum deposit is $10,000. These rates are listed at the bank's rate table as of the morning of 8/03/09.

A reader who left a comment in my July post of this bank mentioned that the bank is keeping the 2.75% 24-month rate into August. The bank tends to change their CD rates very infrequently. Their last rate cut was on July 7th when they reduced all rates by 25 basis points. So hopefully, these current rates will last for a while.

The reader also mentioned that a branch visit is required. They do have a deposit application form with instructions for opening an account by mail. The bank never replied to my emails asking about the application, so I'll have to assume it's a local deal.

Branches are located in Chicago and its suburbs of Stone Park and Bellwood.

The bank continues to have solid ratings for safety and soundness: 4 stars (excellent) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 3/31/09 financial data. The bank has been a FDIC member since 1992 (FDIC Certificate # 33708).

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  Tags: International Bank of Chicago, Illinois, CD rates

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Comments
Comment #1 by Anonymous posted on
Anonymous
Rates are down by 1/4% as of Aug. 18th.

1