2.50% 12-Month CD at Advantage National Bank in the Chicago Metro Area - Local Only

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Update 8/13/09: The 12-month CD rate has fallen to 2.25% APY. Please check the bank's website for the latest rates.

Advantage National Bank is offering a special 2.50% APY 12-month CD. Minimum deposit is $2,500. The special is listed in the banks' deposit rates page as of 8/05/09.

It appears that a branch visit is required to open an account. Advantage National Bank Group has three community banks branded with their own names. All are located in the Chicagoland area. Elk Grove Village Bank & Trust is located in Elk Grove Village. Old Town Bank & Trust is located in Bloomingdale, and Roselle Bank & Trust is located in Roselle.

Advantage National 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. The bank has been a FDIC member since 2001 (FDIC Certificate # 57103).

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

Other Competitive Certificate of Deposit Rates

I used to call these rates high, but in today's environment there are no "high" deposit rates. These rates may not be high, but they're competitive as compared to the top rates listed at Bankrate.com. As of 8/5/09 the top nationwide 12-month CD rate listed at Bankrate is only 2.07% APY. Refer to the following pages to find other competitive CD rates:
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Anonymous
Anonymous   |     |   Comment #1
Latest rate sheet dated 8/12/09 now show 2.25% for 12 month.
6.00% 5-Month CD at an Illinois Bank (Advantage National)
Advantage National Bank is offering a special 6.00% APY 5-month certificate of deposit. The minimum deposit is $5,000 with no maximum deposit. It does requires a checking account with direct deposit. The special is not listed at the website. A reader emailed me info on this deal, and I called yesterday for further details. According to the banking rep, there's also a $200 gift card that is awarded when they receive your first direct deposit. I was told that the Free Checking qualifies for this offer.

A branch visit is required....

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