Harris Bank CD Rates and Review

May 31, 2010 1 Comment »

harris bank reviewHarris Bank, or Harris National Association is based out of Chicago, Illinois and is within the top 20 largest banks in the United States by asset size.

They are one of the nation’s older banks, originally established in 1882 as NW Harris and Co. Today they control almost $100 billion in assets. Although this may seem like a staggering sum, their banks has seen it’s net value decrease substantially over the years following the financial meltdown of ’08. To get a better idea of how hard they were hit, in just 2009 Harris Bank had an estimated $376 billion in assets.

They still have locations (both branch and affiliate branches) in 12 states. They still operate in every major banking vertical as well including wealth management, small business, middle market, institutional markets as well as personal financial services.

Within the personal financial services sector they offer checking, savings, money market accounts, certificates of deposit, mortgages and loans. If you’re in the market for a savings product – whether it be a money market or deposit – Harris Bank isn’t offering much in regards to rates. As with most of the nation’s largest financial institutions their savings rates are significantly under the national average. Continue reading for further information on their deposit accounts.

Their CD rates are tiered based on the minimum deposits invested. Below are their current rates along with the associated minimum deposit required to earn that rate (interest rates accurate as of May 28, 2010).

Harris Bank CD Rates:

3 months 0.045 0.05
6 months 0.095 0.10
9 months 0.345 0.35
12 months 0.643 0.65
18 months 0.743 0.75
24 months 0.792 0.80
30 months 0.842 0.85
36 months 0.941 0.95
48 months 1.090 1.10
60 months 1.337 1.35
$5,000
3 months 0.095 0.10
6 months 0.145 0.15
9 months 0.395 0.40
12 months 0.693 0.70
18 months 0.792 0.80
24 months 0.842 0.85
30 months 0.892 0.90
36 months 0.991 1.00
48 months 1.139 1.15
60 months 1.386 1.40
$100,000
1 month3 0.095 0.10
2 months3 0.095 0.10
3 months 0.145 0.15
6 months 0.195 0.20
9 months 0.445 0.45
12 months 0.743 0.75
18 months 0.842 0.85
24 months 0.892 0.90
30 months 0.941 0.95
36 months 1.040 1.05
48 months 1.188 1.20
60 months 1.435 1.45

Terms and Conditions:

- Maximum opening deposit of $100,000 per CD applied for online.
- The CD must be funded within 10 business days of online application.
- Funds from CDs applied for online may not be withdrawn for the first 11 days after funding.
- CDs applied for online can only be in individual or joint ownership.

Harris Bank BBB (Better Business Bureau Rating)

Harris Bank has an A+ rating on the BBB. They have a total of 100 registered complaints – 40 of which revolve around billing and collections, 55 from issues with their service or financial products and 4 regarding misleading advertising.

All 100 complaints have been closed.

Promotions through Harris Bank:

$150 bonus with new Harris Bank checking account

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  • Gigg T

    Their 5 year CD’s are as bad as most 1 year CD’s. id find another bank if your looking for a savings account