3.25% 24-Month CD & 2.65% 12-Month CD at Bank of Illinois

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Bank of Illinois is offering competitive rates on its two of its CDs: a 2.65% APY 12-month CD and a 3.25% APY 24-month CD. Minimum deposit is $500. The early withdrawal penalty is a little less harsh than average: 60 days of interest for the one year and 90 days for the two year. These rates are listed at the bank's CD rate table as of 4/14/09.

The bank continues to offer a high-interest reward checking account. I first reported on this in May 2007 when the rate was 5.50% APY on balances up to $25K. The rate has fallen, but it has remained competitive. It now has a rate of 4.00% APY.

Branches are located in Normal and Bloomington, Illinois.

Bank of Illinois's ratings for safety and soundness are a little weak: 3 stars (adequate) at BauerFinancial (based on 12/31/08 data) and 2 stars (below peer group) at Bankrate.com (based on 9/30/08 data). The bank has been FDIC insured since 1934 (FDIC Certificate # 9268).
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5.10% 9-Month CD at an Illinois Bank (Bank of Illinois).
Bank of Illinois is offering a special 5.10% APY 9-month certificate of deposit. The minimum deposit is $2,500.

The bank also offers a 5.50% APY reward checking account. I first reported on this checking account in this May 2007 post. The 5.50% yield is still holding.

Branches are located in Normal and Bloomington, Illinois. Bank of Illinois is FDIC insured (FDIC Certificate # 9268).

Thanks to the reader who emailed me info on this bank.





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2.75% Reward Checking Account at Bank of Illinois
Update 7/11/09: The top rate has fallen to 2.75% APY. Refer to the bottom of the post for the rate history.

Bank of Illinois is offering a reward type checking account that it calls VIP Elite Checking. It offers 2.75% APY for balances up to $25K (0.25% for above) and ATM fee refunds (up to $50 per month) if the following monthly requirements are met: 10 check card transactions, one direct deposit or recurring ACH and receive electronic statements. Regardless of meeting the requirements, there are no minimum balance requirements or...

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