| Bank or Credit Union | Apy | Min | Max | Product | |
| Mutual Federal Bank | 2.00% | $500 | - | 5 Year Certificate | |
| Mutual Federal Bank | 1.25% | $500 | - | 2 1/2 Year Certificate |
Top 5-Year CD Rate at Mutual Federal Bank in Chicago - Local Only
Mutual Federal Bank is offering a competitive 5-year CD rate of 3.10% APY. The 30-month CD rate is also fairly competitive at 2.00% APY. Minimum deposit is $500. These rates are listed at the bank's CD rate page as of 8/13/2010.
This bank used to offer top Jumbo 6-month CD rates, but currently the 6-month rate is low.
It appears that a branch visit is required to open an account. It's a small bank with one office located at 2212 West Cermak Road, Chicago, IL.
The bank's ratings for safety and soundness are a little above average: 3 stars (performing) at Bankrate.com, 3½ stars (good) at BauerFinancial and an overall health score of 4 out of 5 at DepositAccounts.com (see our financial overview of Mutual Federal Bank). These ratings are based on 3/31/10 financial data. The bank has been a FDIC member since 1935 (FDIC Certificate # 28302).
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com.
Anonymous - #1, Thursday, August 26, 2010 - 9:43 AM
Per the CSR, the withdrawal penalty on the 5 yr is only 180 days interest, so, for people in the Chicago area the 3.10% APY makes this a good deal relative to the national long term rates.
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