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Illinois Banking Rates and News

Browse through the stories below to view current deals for Illinois banks or select an item from the menu bar above to view current rates in Illinois.

New Kasasa Accounts with a High-Yield Reward Checking at Peoples National Bank
Peoples National Bank , N.A.

Peoples National Bank has just started to offer Kasasa accounts, and one of those accounts is a high-yield reward checking account that’s called Kasasa Cash. There’s also a savings account called Kasasa Saver which links to the checking account, and there’s another type of reward checking account called Kasasa Cash Back. Instead of high interest rate, this checking account offers rewards in the form of 2% cash back on debit card purchases (up to $6 of cash back per month). The nice thing about Kasasa is that these are free...

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More States Eligible for Frontier Bank’s Top Reward Checking Account
Frontier Bank (IA)

Last year when I first reported on the reward checking account at Frontier Bank, the online application allowed residents of three states to apply. Its online application now allows residents of 12 midwestern states to apply. This gives many more people access to a very competitive reward checking account. The reward checking is under the Kasasa brand, and it’s called Kasasa Cash. As of 3/18/2014, the account has a 3.05% APY on balances up to $20K if typical reward checking monthly requirements are met. There’s also a Kasasa Saver account...

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Unique Changes Made to Consumers Credit Union’s Free Rewards Checking
Consumers Credit Union (IL)

Consumers Credit Union made several changes to its Free Rewards Checking Account that many savers should appreciate. First, you can now earn 5.09% APY for balances up to $10,000. Before this change you could only earn 3.09% APY for balances up to $5,000. However, qualifying for the 5.09% APY is not easy. If you don’t qualify for 5.09%, you can still qualify for 4.09% or 3.09%. If existing members have been earning 3.09% before, they can continue to earn 3.09% with no additional work. In that case the only change...

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$160 Checking Bonus at First American Bank in IL and Parts of WI and IN
First American Bank (IL)

Yesterday I reviewed the reward checking account at First American Bank. The bank has another checking account deal. This one is a checking account bonus that pays up to $160. The reward checking account doesn’t qualify. You have to open either its Optimal Checking or its Free Checking account. The promotion is scheduled to end on March 3, 2014. It does require quite a bit of work and time. The details are listed at this bank’s promotion page. Below is a summary of what’s required:

To earn the full $160, you’ll...

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Competitive Reward Checking Account Available Nationwide at First American Bank - 1.5%
First American Bank (IL)

First American Bank has a reward checking account called Everyday Rewards Checking. According to a bank’s CSR, people from any state can apply for this account online or by phone. Thus, I’m labeling this account "nationally available". This isn’t a hot deal so new applications shouldn’t flood the bank. Hopefully it will remain nationally available. Thanks to the DA reader who emailed me news of this account.

The current rate and balance cap are respectable, but there are some nationally available reward checking accounts with higher rates and balance caps. Another...

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Checking and Money Market Promotions at Fifth Third Bank
Fifth Third Bank (OH)

Fifth Third Bank has a new checking account promotion. They’ll give $150 to Stand Up To Cancer and $150 to you when you open a new checking account with direct deposit and make three online bill payments. The account must be opened by March 31, 2014. The direct deposit and the three online bill payments must be completed within 90 days of account opening to qualify for the bonus. Bonus will be deposited into the new checking account within 6 weeks of completing requirements. The full details of this offer...

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Special CD and IRA CD Rates at Xceed Financial Credit Union - Easy Membership
Xceed Financial Credit Union

Xceed Financial Credit Union just came out with a new CD special. It has a 1.50% APY and a 17-month term. Minimum deposit is $500. This special isn’t available in an IRA, but there is a special 14-month IRA CD with a 1.40% APY. Xceed is still offering a special 7-month CD and IRA CD with a 1.00% APY and a special 19-month CD and IRA CD with a 1.25% APY. These special CD rates are listed on the credit union's rates page and in the credit union's news &...

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Fifth Third Bank’s New CD Rate Specials in Several States
Fifth Third Bank (OH)

Fifth Third Bank has come out with some new CD specials. There are two changes from Fifth Third’s CD promotions from last fall. For most of Fifth Third’s market area, the bank is offering a 1.75% APY 5-year CD. For the Florida market, this long-term CD promotion is a 2.00% APY 6-year CD. The other CD promotions are the same as last fall with a 1.50% APY 4-year CD, a 1.25% APY 38-month CD and a 1.00% APY 28-month CD. Minimum deposit is $5,000, and a new or existing checking...

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Money Market and 12-Month CD Promotion at BBCN Bank
Money Market and 12-Month CD Promotion at BBCN Bank

BBCN Bank has two good deposit deals. The first is a money market account special for consumers only. The bank is guaranteeing a 1.00% APY until 12/31/2014 for balances of $50,000 to under $1 million. The second special is a CD promotion for consumer and business customers. It’s a 12-month CD with a 1.10% APY. Minimum deposit is $50,000, and the maximum is $250,000 per customer. Both offers require new money to the bank. The promotion is scheduled to end when the bank’s deposit goal amount is met or on...

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Special 7-Month CD Rate at Xceed Financial Credit Union - Easy Membership
Xceed Financial Credit Union

In today's interest rate environment, most all short-term CDs have rates under 1%. I found one exception at Xceed Financial Credit Union which has a special 7-month share certificate with a 1.00% APY. It’s also available in an IRA. Minimum deposit is $500. This special CD rate is listed on the credit union's rates page and in the credit union's news & events page as of 11/01/2013.

Xceed has a history of CD specials. I reviewed the last one in 2012.

The credit union has two features that make it convenient for...

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Alliant Credit Union Checking Account Bonus and Updated Checking Review
Alliant Credit Union

Alliant Credit Union’s checking account called High Rate Checking has a long history of competitive rates and useful features. There’s another reason to consider this checking account. Alliant is offering a $50 bonus for open checking and meet the following two requirements by December 31, 2013:

  1. Opt out of paper statements and receive only eStatements sent to your email address, and
  2. Make at least one monthly electronic deposit (each month) to this account such as a direct deposit, payroll or ATM deposit, eDeposit or eDepositPlus, mobile check deposit or transfer from another...
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Fifth Third Bank’s 4-Year CD Rate Special in Several States - 1.5%
Fifth Third Bank (OH)

We’re now seeing some large banks raising their long-term CD rates. The latest is Fifth Third Bank which is offering a special 4-year CD with a 1.50% APY. You can get a higher 4-year CD rate at a few internet banks and credit unions, but this 1.50% APY is competitive especially for large banks. There are also shorter-term CD specials: a 1.25% APY 38-month CD and a 1.00% APY 28-month CD. Minimum deposit is $5,000, and a new or existing checking account is required. These rates are listed in Fifth...

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