Competitive 9-Month CD Rate at Washington Federal Bank for Savings in Chicago - Local Only

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It's hard to get excited about any CD rates these days when rates are so low, and this is especially true for short-term CDs which now rarely have yields over 1 percent. If you don't want to be locked into a low-rate long-term CD, a short-term CD is an option which might be worthwhile. The best short-term CD deal in the Chicago area is currently at Washington Federal Bank for Savings which is offering a 1.15% APY 9-month CD. Minimum deposit is $1,000. This is listed on the bank's online rate sheet as of 5/3/2011.

A branch visit is required. Branches are located in Chicago, Illinois at 2869 South Archer Avenue (773-254-3422) and at 1410 West Taylor Street (312-455-2940).

The bank has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 0% (excellent) based on December 2010 data. Please refer to our financial overview of Washington Federal Bank for Savings for more details. The bank has been a FDIC member since 1961 (FDIC Certificate # 30570).

How It Compares?

If you want a plain 9-month CD, you'll have a tough time finding a rate higher than 1.15%. As of 5/3/2011 one of the best nationwide 9-month CD rate is at Virtual Bank which has a rate of only 1.01% APY. As you can see in my latest weekly bank deals recap there are some better options than a plain 9-month CD such as Salem Five Direct's savings account promotion and Ally Bank's CDs.

Comments
2.10% CD for Terms of 7 to 13 Months at Washington Federal Bank for Savings in Chicago - Local Only
Washington Federal Bank for Savings is offering a special pick-a-term CD with a 2.10% APY for terms of 7, 9, 11 and 13 months. The 2.10% is especially competitive for the shorter terms. Minimum deposit is $1,000, and new money is required. The special is listed on the bank's front page as of 10/02/09.

My last post on this bank was in August when it was offering a 1.96% 6-month CD. I'm glad to see the new special has a higher rate.

A branch visit is required. Branches are located in Chicago,...



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1.96% 6-Month CD at Washington Federal Bank for Savings in Chicago - Local Only
Washington Federal Bank for Savings is offering a special 1.96% APY 6-month CD. Minimum deposit is $1,000, and new money is required. The special is listed on the bank's front page as of 8/26/09.

A branch visit is required. Branches are located in Chicago, Illinois at 2869 South Archer Avenue (773-254-3422) and at 1410 West Taylor Street (312-455-2940).

The bank's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 3/31/09 financial data. The bank was established in 1913...



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2.65% 13-Month CD at Washington Federal Bank for Savings in Chicago - Local Only
Washington Federal Bank for Savings is offering a special 2.65% APY 13-month CD. This requires that you also open their savings account with a $250 minimum deposit. The current savings account rate is 1% APY. Without the savings account, the CD rate falls to 2.40% APY. Minimum CD deposit is $1,000. This promotion doesn't seem to be listed at the bank's website. A reader commented on this, and I just called to confirm that it's still available as of the morning of 5/28/09. The CSR didn't know how much longer...
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Money Market Account with Guaranteed 4.50% until 3/31/09 at Washington Federal in Chicago
Washington Federal Bank for Savings has just started a very attractive money market account special at its Taylor branch in Chicago. They're offering a 4.50% APY guaranteed through 3/31/09. The minimum deposit is $1,000.

Update 10/31/08: The money market promotion is now listed at the bank's website. It appears to be available at both of the bank's branches. A reader has informed me that a branch visit is required, and it's only for Illinois residents.

This promotion doesn't seem to be listed at the bank's website. A reader mentioned this in the...



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4.10% 6-Month CD at Washington Federal Bank for Savings in Chicago
Washington Federal Bank for Savings is offering a special 4.10% APY 6-month CD. The minimum deposit is $1,000. The rate is good on deposits of new money only. Please refer to the bank's rate table for more details.

It appears a branch visit is required to open an account. Branches are located in Chicago, Illinois.

The bank has some solid financial ratings for soundness: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 6/30/08 data. The bank has been FDIC insured since 1961 (FDIC Certificate...



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