7 year Bank CD (certificate of deposit) Deal

January 23, 2011 No Comments »

Although in this environment we are generally reluctant to recommend long term CDs, we’ve been forwarded a decent 7 year CD rate that we think deserves some recognition.

Personally none of us here at BankVibe would invest in a CD longer than 24 months, however, if you must go long, West Town Savings Bank out of Chicago, Illinois has a 7 year CD going for 3.24% APY with a minimum deposit of $1,000 required.

Related: 20 year Bank CDs -Would you invest?

For most of us, this deal is off the table regardless. You must live near a local branch which primarily operates in the greater Chicago area. You’ll need to drop by the branch of West Town Savings Bank to open an account. The bank has it’s primary offices in the cities of North Riverside and Cicero in Illinois (suburbs on the western portion of Chicago). If you have questions you can call the Cicero branch at 708-652-2000 while the North Riverside can be reached at 708-447-3330. Remember this deal is for local residents only. Check out our database of the best CD rates available nationwide if you aren’t eligible for this one. You can also compare this offer with the best CD rates in Chicago to see how it stacks up against the local competition.

West Town Savings Bank has been listed with the FDIC since 1951.

Complete List of CD Rates from West Town Savings Bank:

(Rates accurate as of January 2011.)

- 6 month CD yielding 0.45% APY with a minimum deposit of $1,000 required.

- 12 month CD yielding 0.65% APY with a minimum deposit of $1,000 required.

- 24 month CD yielding 1.00% APY with a minimum deposit of $1,000 required.

- 36 month CD yielding 1.36% APY with a minimum deposit of $1,000 required.

- 60 month CD yielding 1.51% APY with a minimum deposit of $1,000 required.

- 7 year CD yielding 3.24% APY with a minimum deposit of $1,000 required.

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