Earlier this week, Lisle Savings Bank (Illinois) raised the rate on its 42-month CD to a very competitive 1.76% APY. This CD requires a $2K minimum deposit to open and is also available as an IRA. Interest is compounded daily and credited monthly. The Early Withdrawal Penalty is 180 days' interest, whether earned or not.
Note: While there is no penalty on shorter length IRA certificates for withdrawals prior to maturity if the owner has reached age 59 1/2, penalties DO apply to the 42-month IRA, regardless of the age of the owner.
|1.00%||$2k||-||Lisle Savings Bank||42 Month CD|
|1.00%||$2k||-||Lisle Savings Bank||42 Month IRA|
Lisle Savings Bank is located in Lisle (rhymes with "aisle"), Illinois, a suburb of Chicago. While online banking is available to manage your account, an in-person visit to either of the two Lisle branches (Maple Avenue and Main Street) is required to open any type of account.
As the Lisle Savings Banks is a community oriented financial institution, residency is used to determine customer eligibility:
"Because Lisle Savings Bank is a community bank, we reserve the right to limit our deposits and loans to our surrounding communities."
Lisle Savings Bank has an overall health rating of B at DepositAccounts.com, with a Texas Ratio of 23.81% (average) as of March 31, 2014. Lisle Savings Bank (FDIC Certificate # 29800) has $534.65 Million in assets, with $100.13 Million in equity, resulting in an excellent capitalization rate of 18.73%. Please refer to our financial overview of Lisle Savings Bank for more details.
Lisle Savings Bank was originally chartered in 1917 as the Sacramento Avenue Building and Loan Association, and was located in Chicago. In 1959 following several name changes and addresses, the Lisle Savings Bank opened its current Main Street Branch in Lisle. One of the few remaining privately owned banks in the area, Lisle Savings Bank continues to prosper under the direction of the 4th generation of the Renn family.
How the Rates Compares
When compared to similar length-of-term CDs, tracked by DepositAccounts.com, that are available to residents of Illinois, Lisle Savings Bank's 42-month CD fares very well:
- 1.76% APY 42-month CD Lisle Savings Bank ($2K minimum)
- 1.75% APY 48-month CD State Farm Bank (no minimum)
- 1.66% APY 48-month CD Citizens Community Bank, IL ($500 minimum)
- 1.55% APY 48-month CD Home Federal Savings and Loan ($1K minimum)
The above rates are accurate as of 8/20/2014.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.