Dedicated to Deposits: Deals, Data, and Discussion

2.51% 18-Month CD at Standard Bank and Trust Co. in Chicago - Local Only

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Standard Bank and Trust Co.
Standard Bank and Trust Co. has a grand opening special 18-month CD with a 2.51% APY. Minimum deposit is $5,000, and the maximum is $75,000. This special CD is listed at the bank's promo page as of 8/28/09.

According to the bank rep, this CD is only available at the new branch in Chicago. The rep also said that this CD special requires an active checking account. The My Green Checking account qualifies. This is a reward checking account, and like most reward checking accounts it doesn't have any monthly fees (see post).

I was about to post on the bank's 12-month My Green CD which is available at all of their Illinois and Indiana branches. The Deposit rate sheet lists the CD with a 2.51% APY as of 8/28/09. As the name suggests, the My Green Checking is required. This seemed like a hot deal until I saw the maximum deposit limit of $10,000 per household listed in the bank's CD and IRAs page. With a $10K deposit, you'll earn about $50 more on this CD than a 2% 1-year CD.

Branches are located throughout Chicagoland and Northwest Indiana.

The bank's ratings for safety and soundness are a little weak: 3 stars (adequate) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 3/31/09 financial data. Standard Bank and Trust Co. has been a FDIC member since 1947 (FDIC Certificate # 16606).

Other Competitive Certificate of Deposit Rates
  Tags: Standard Bank and Trust Co., Illinois, CD rates

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