The Bank of Kampsville, based out of Pleasant Hill, Illinois, is currently offering some short term CD rates that are beating the national average by a fairly substantial margin. Unfortunately for most of us, these products will be off limits as the bank is a small regional bank that accepts local funds. However, if you do live in Illinois and are in the market for a short term CD, you may want to stop by one of their branches. They have 4 locations within the state of Illinois – Kampsville, Brussels, Pleasant Hill, and Hardin.
Current CD Rates offered by The Bank of Kampsville:
3 Month Certificate of Deposit 1.26
6 Month Certificate of Deposit 1.51 – current national average sits at just 0.80% APY
12 Month Certificate of Deposit 2.02 – current national average sits at just 1.17% APY
18 Month Certificate of Deposit 2.02
24 Month Certificate of Deposit 2.02
30 Month Certificate of Deposit 2.27
36 Month Certificate of Deposit 2.27 – current national average sits at 1.98% APY
48 Month Certificate of Deposit 2.52
60 Month Certificate of Deposit 3.03
Terms and Conditions:
- $1,000 minimum deposit required
- penalties for early withdrawal
- rates accurate as of March 5, 2010
The margin in which the Bank of Kampsville’s CD rates beat the national average tapers off a bit as the duration of the product increases. In other words, when compared to the national average you are receiving a much better offer if you opt for the short term products (6 month – 36 month) then you would if you signed up for a long term CD (4-5 years). Their 5 year CD rate is pretty much on par with the national average for that given duration.