Best 6-CD Rates in Chicago, Illinois

Pros:

• High interest rates on CDs
• No early withdrawal penalty on some CDs
• FDIC insured
• Wide range of terms
• Easy to open an account

Rules:

• The minimum deposit for a CD at First IB is $1,000.
• The term of a CD at First IB can range from 3 months to 60 months.
• There is an early withdrawal penalty for CDs at First IB. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• High interest rates on CDs
• No early withdrawal penalty on some CDs
• FDIC insured
• Wide range of terms
• Easy to open an account

Rules:

• The minimum deposit for a CD at Ally Bank is $25.
• The term of a CD at Ally Bank can range from 3 months to 60 months.
• There is an early withdrawal penalty for CDs at Ally Bank. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• High interest rates on CDs
• No early withdrawal penalty on some CDs
• FDIC insured
• Wide range of terms
• Easy to open an account

Rules:

• The minimum deposit for a CD at Ally Bank is $25.
• The term of a CD at Ally Bank can range from 3 months to 60 months.
• There is an early withdrawal penalty for CDs at Ally Bank. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• High interest rates: BOW offers competitive interest rates on CDs.
• No early withdrawal penalty: Some CDs at BOW have no early withdrawal penalty.
• FDIC insured: All CDs at BOW are insured by the Federal Deposit Insurance Corporation (FDIC), up to $250,000 per depositor.
• Wide range of terms: BOW offers a wide range of terms for CDs, so you can find one that fits your needs.
• Easy to open an account: You can open a CD account online or at any BOW branch.

Rules:

• Minimum deposit: The minimum deposit for a CD at BOW is $1,000.
• Term: The term of a CD at BOW can range from 7 months to 60 months.
• Early withdrawal penalty: There is an early withdrawal penalty for CDs at BOW. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• FDIC insured
• No monthly maintenance fees
• The interest rate is compounded daily, so you earn interest on your interest.
• Quontic Bank offers online CD openings.
• You can set up automatic transfers from your checking account to your CD.

Rules:

• There is a 90-day early withdrawal penalty if you withdraw your money before maturity.
• The interest rate is subject to change.

Pros:

• FDIC insured
• No monthly maintenance fees
• The interest rate is compounded daily, so you earn interest on your interest.
• The Bread Savings website makes it easy for you to open a CD online.
• You can set up automatic transfers from your checking account to your CD.

Rules:

• There is a 180-day early withdrawal penalty if you withdraw your money before maturity.
• The interest rate is subject to change.

Pros:

• High interest rates on CDs
• No early withdrawal penalty on some CDs
• FDIC insured
• Wide range of terms
• Easy to open an account

Rules:

• The minimum deposit for a CD at Ally Bank is $25.
• The term of a CD at Ally Bank can range from 3 months to 60 months.
• There is an early withdrawal penalty for CDs at Ally Bank. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• High interest rates: BOW offers competitive interest rates on CDs.
• No early withdrawal penalty: Some CDs at BOW have no early withdrawal penalty.
• FDIC insured: All CDs at BOW are insured by the Federal Deposit Insurance Corporation (FDIC), up to $250,000 per depositor.
• Wide range of terms: BOW offers a wide range of terms for CDs, so you can find one that fits your needs.
• Easy to open an account: You can open a CD account online or at any BOW branch.

Rules:

• Minimum deposit: The minimum deposit for a CD at BOW is $1,000.
• Term: The term of a CD at BOW can range from 7 months to 60 months.
• Early withdrawal penalty: There is an early withdrawal penalty for CDs at BOW. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• High interest rates on CDs
• No early withdrawal penalty on some CDs
• FDIC insured
• Wide range of terms
• Easy to open an account

Rules:

• The minimum deposit for a CD at First IB is $1,000.
• The term of a CD at First IB can range from 3 months to 60 months.
• There is an early withdrawal penalty for CDs at First IB. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• High interest rates: Purdue Fed’s CD rates are among the best in the industry.
• No monthly fees: There are no monthly fees for Purdue Fed CDs.
• Early withdrawal penalty: The early withdrawal penalty for Purdue Fed CDs is 6 months’ interest if the CD is withdrawn within the first 12 months.
• Member perks: Purdue Fed members can earn points through My Member Perks, which can be redeemed for discounts on fees, higher CD rates, and other benefits.

Rules:

• The interest rate you earn on your CD will depend on the term of the CD and your membership status.
• You must maintain the minimum balance in your CD account to earn the stated interest rate.
• If you withdraw your money from your CD before the maturity date, you will be subject to an early withdrawal penalty.

Pros:

• High interest rates on CDs
• No early withdrawal penalty on some CDs
• FDIC insured
• Wide range of terms
• Easy to open an account

Rules:

• The minimum deposit for a CD at Ally Bank is $25.
• The term of a CD at Ally Bank can range from 3 months to 60 months.
• There is an early withdrawal penalty for CDs at Ally Bank. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• High interest rates: BOW offers competitive interest rates on CDs.
• No early withdrawal penalty: Some CDs at BOW have no early withdrawal penalty.
• FDIC insured: All CDs at BOW are insured by the Federal Deposit Insurance Corporation (FDIC), up to $250,000 per depositor.
• Wide range of terms: BOW offers a wide range of terms for CDs, so you can find one that fits your needs.
• Easy to open an account: You can open a CD account online or at any BOW branch.

Rules:

• Minimum deposit: The minimum deposit for a CD at BOW is $1,000.
• Term: The term of a CD at BOW can range from 7 months to 60 months.
• Early withdrawal penalty: There is an early withdrawal penalty for CDs at BOW. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• High interest rates on CDs
• No early withdrawal penalty on some CDs
• FDIC insured
• Wide range of terms
• Easy to open an account

Rules:

• The minimum deposit for a CD at First IB is $1,000.
• The term of a CD at First IB can range from 3 months to 60 months.
• There is an early withdrawal penalty for CDs at First IB. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• FDIC insured
• No monthly maintenance fees
• The interest rate is compounded daily, so you earn interest on your interest.
• The Bread Savings website makes it easy for you to open a CD online.
• You can set up automatic transfers from your checking account to your CD.

Rules:

• There is a 180-day early withdrawal penalty if you withdraw your money before maturity.
• The interest rate is subject to change.

Pros:

• A competitive APY of 5.25% is available from CFG Bank for deposits of $500 or more.
• The local bank provides individualized service along with a selection of financial goods and services.
• CFG Bank offers a variety of deposit products, including savings accounts, money market accounts, checking accounts, and certificates of deposit (CDs).

Rules:

• The 5.25% APY is only available for 12-month term deposits, and the minimum deposit needed to obtain the advertised APY is $500.
• Though early withdrawals from the account are permitted, there is a penalty of 180 days’ supply of interest on the amount taken out.

Pros:

• Competitive interest rates: Discover Bank’s CD rates are competitive with other online banks.
• No minimum balance requirement: There is no minimum balance requirement to open a CD with Discover Bank.
• Easy to open and manage: CDs can be opened and managed online or through the Discover Bank mobile app.
• FDIC insured: Your money is FDIC insured up to $250,000.

Rules:

• The minimum deposit for a CD is $2,500.
• There is a penalty for early withdrawal. The penalty is six months of simple interest if you withdraw your money within one year of opening the CD. The penalty is three months of simple interest if you withdraw your money within two years of opening the CD.
• You must maintain a qualifying direct deposit to earn the full advertised interest rate. The qualifying direct deposit must be for at least $1,500 each month.

Pros:

• FDIC insured
• No monthly maintenance fees
• The interest rate is compounded daily, so you earn interest on your interest.
• Quontic Bank offers online CD openings.
• You can set up automatic transfers from your checking account to your CD.

Rules:

• There is a 90-day early withdrawal penalty if you withdraw your money before maturity.
• The interest rate is subject to change.

Pros:

• High interest rates on CDs
• No early withdrawal penalty on some CDs
• FDIC insured
• Wide range of terms
• Easy to open an account

Rules:

• The minimum deposit for a CD at First IB is $1,000.
• The term of a CD at First IB can range from 3 months to 60 months.
• There is an early withdrawal penalty for CDs at First IB. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• High interest rates on CDs
• No early withdrawal penalty on some CDs
• FDIC insured
• Wide range of terms
• Easy to open an account

Rules:

• The minimum deposit for a CD at Ally Bank is $25.
• The term of a CD at Ally Bank can range from 3 months to 60 months.
• There is an early withdrawal penalty for CDs at Ally Bank. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• High interest rates: BOW offers competitive interest rates on CDs.
• No early withdrawal penalty: Some CDs at BOW have no early withdrawal penalty.
• FDIC insured: All CDs at BOW are insured by the Federal Deposit Insurance Corporation (FDIC), up to $250,000 per depositor.
• Wide range of terms: BOW offers a wide range of terms for CDs, so you can find one that fits your needs.
• Easy to open an account: You can open a CD account online or at any BOW branch.

Rules:

• Minimum deposit: The minimum deposit for a CD at BOW is $1,000.
• Term: The term of a CD at BOW can range from 7 months to 60 months.
• Early withdrawal penalty: There is an early withdrawal penalty for CDs at BOW. The penalty is 6 months’ interest if the CD is withdrawn before maturity.

Pros:

• A competitive APY of 5.25% is available from CFG Bank for deposits of $500 or more.
• The local bank provides individualized service along with a selection of financial goods and services.
• CFG Bank offers a variety of deposit products, including savings accounts, money market accounts, checking accounts, and certificates of deposit (CDs).

Rules:

• The 5.25% APY is only available for 12-month term deposits, and the minimum deposit needed to obtain the advertised APY is $500.
• Though early withdrawals from the account are permitted, there is a penalty of 180 days’ supply of interest on the amount taken out.