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

Best Elgin CD Account Rates

Featured Rate		Bank / Credit Union	Account Type
1.80% As of August 30, 2010	View Rate Details	Discover Bank	CD Account
Highest Rates Recent Rate Changes
Best Rates (APY)		Bank / Credit Union	Account Type
1.83% As of August 25, 2010	View Rate Details	First Suburban National Bank	CD Account
1.80% As of September 1, 2010	View Rate Details	Edgebrook Bank	CD Account
1.76% As of August 26, 2010	View Rate Details	The National Republic Bank of Chicago	CD Account
1.75% As of August 31, 2010	View Rate Details	International Bank of Chicago	CD Account
1.75% As of August 27, 2010	View Rate Details	St. Charles Bank	CD Account
1.75% As of June 18, 2010	View Rate Details	North Side Community Credit Union	CD Account

	Rate Change	Date
Town Center Bank - 2 Year CD Account	1.45% to 1.35%	Sep 1, 2010
Town Center Bank - 12 Month CD Account	1.05% to 1.00%	Sep 1, 2010
Town Center Bank - 6 Month CD Account	0.80% to 0.75%	Sep 1, 2010
Citizens Community Bank of Illinois - 2 Year CD Account	1.25% to 1.15%	Sep 1, 2010
Citizens Community Bank of Illinois - 12 Month CD Account	0.75% to 0.65%	Sep 1, 2010
Citizens Community Bank of Illinois - 6 Month CD Account	0.50% to 0.40%	Sep 1, 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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