Elgin Banking Rates > CD Rates

Your Credit and CD Rates

A Certificate of Deposit, or CD is similar to a savings account in that it earns interest, but different in that you can set a length of time (anywhere from 3 months to 5 years) that you will not touch your savings. The reason you may choose this option is that banks typically offer higher interest rates because they know you are not going to withdraw the money. Banks can then loan your money out, and pay you a higher Bank Rate to allow you to earn even more money.

Most investing options do not require a strong credit score to become an investor. However, there are a few who do, particularly high interest rate savings accounts. Even if they do not require a credit check, it is a good idea to always remain on top of your credit.

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Current Elgin CD Rates News

03/14/10

Fed looking at long, slow recovery

"In turn, we expect a clear pickup in the labor market to encourage Fed officials to start 'normalizing' short-term interest rates later this year; ...

03/14/10

Successful Investing: Wells Fargo in position to increase its profits

This nationwide bank that has been a leader in online banking has more than $1.2 trillion in assets and more than 6000 offices. It doubled its size with the ...

Best Elgin CD Account Rates

Featured Rate		Bank / Credit Union	Account Type
2.05% As of February 8, 2010	View Rate Details	Discover Bank	CD Account
Highest Rates Recent Rate Changes
Best Rates (APY)		Bank / Credit Union	Account Type
2.50% As of October 22, 2009	View Rate Details	Acme Continental Credit Union	CD Account
2.22% As of November 5, 2009	View Rate Details	Loyola University Employees Credit Union	CD Account
2.02% As of November 5, 2009	View Rate Details	Lincoln State Bank, S.B.	CD Account
2.00% As of February 8, 2010	View Rate Details	Alliant Credit Union Chicago, IL	CD Account
2.00% As of October 22, 2009	View Rate Details	Bell West Community Credit Union	CD Account

	Rate Change	Date
Prairie Community Bank - 6 Month CD Account	0.60% to 0.60%	Mar 5, 2010
The Poplar Grove State Bank - 6 Month CD Account	0.75% to 0.75%	Mar 5, 2010
Prospect Bank - 6 Month CD Account	1.00% to 0.75%	Mar 5, 2010
Parkway Bank - 6 Month CD Account	1.10% to 0.80%	Mar 5, 2010
Oak Trust Credit Union - 6 Month CD Account	0.75% to 0.50%	Mar 5, 2010

See All CD Account Rates

Elgin, IL CD Rates and Interest Income Investments

You have worked hard to save your money, now it’s time to make your money work hard for you. Investing your money is the easiest way to make your net worth grow, even while you sleep. Depending on the amount of funds you have to invest and your investment goals, you will want to research the different options carefully.

Get Best CD Rates

Elgin Banking Rates can make that research easier. We will assess your individual needs to connect you with Elgin banks and investment brokers providing the highest rates of return based on your financial goals.

Best CD Rates, IRAs and Investments in Elgin

Elgin Banking Rates want to help you earn money, save money and put yourself in the best position for your own financial situation. If you have a savings account that you do not need for the rest of this year, it may be a good idea to invest into a 6-12 month CD and take advantage of the higher interest rates. You can earn up to 1% or more in a CD versus a savings account with a $5000 CD over 10 years; that can be over $500-$1000 more in interest payments with the higher CD rate.

Many local Elgin credit unions offer competitive CD rates, money market accounts and IRAs, as do the larger national banks. If you want to get the highest interest rates, be sure to thoroughly research banks with the best offers before you make your decision. Elgin Banking Rates has relationships with many banks to maximize the potential of finding the best rates.

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Serving the Following Elgin Zip Codes:

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