Chicago CD Rates (Certificate of Deposit)

Maximize savings with competitive CD rates.

check current cd rates here

Save and grow your money with fixed rate, fixed term CDs

Certificates of Deposit are ideal for those who don’t need immediate access to funds. With a higher rate of return, CDs are insured and help you save more — and faster — than with easy-access savings.

Manage Rate and Liquidity Risk with CD Laddering

If you want higher returns, but don’t want to lock up your money in a long-term CD, you should consider CD laddering. With CD laddering, you separate your investment money into a few CDs that mature at different times – one year, two years, and three years, for example. When the short-term CD reaches maturity, you can take the cash if you need it – or reinvest it into another short- or long-term CD. This way, you’ll enjoy guaranteed returns along with some periodic liquidity.

Man in blue sweater holding a white tablet
Daughter sitting on her fathers shoulders as he walks across a street with his wife

Best CD Rates Near Me

CD rates in the Chicagoland area are competitive, and Liberty Bank can offer you some of the best CD rates in Illinois. That’s because we’re structured as a mutual bank, so we’re owned by the community. Without stockholders to please, we direct all of our profits back to customers in the form of lower mortgage rates, fewer bank fees, and higher savings yields – including higher CD yields.

Save on Your Terms with Liberty Bank’s Current CDs

  • 6-month CD rate that compounds daily and pays interest at term. With our shortest term length, a 6-month CD is a good choice if you’ll need access to your funds in less than a year.
  • 1-year CD rate that compounds daily and pays interest quarterly. A 1-year CD rate is typically a bit better than a 6-month CD rate, with a term length that’s still short enough for many savings goals.
  • 1.5-year, 2-year, 3-year, and 4-year CD rates that compound daily and pay interest quarterly. For long-term goals, investing in longer-term CDs will yield better rates.
  • 5-year CD rate that compounds daily and pays interest quarterly. Choose a 5-year CD if you are sure you won’t need the funds before maturation – you’ll usually get the best rate available.
  • At Liberty Bank, we also offer special CD rates which offer very competitive CD interest rates.

Contact us to see if one of our CDs would be a good fit for your financial situation and goals!

TermMinimum to Open and Earn InterestCompounding FrequencyInterest Payment FrequencyAvailable as an IRA
6 Month CD$5,000DailyAt TermNo
1 Year CD$5,000DailyQuarterlyYes
1 1/2 Year CD$5,000DailyQuarterlyYes
2 Year CD$5,000DailyQuarterlyNo
3 Year CD$5,000DailyQuarterlyYes
4 Year CD$5,000DailyQuarterlyNo
5 Year CD$5,000DailyQuarterlyYes