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Image Courtesy: www.pixabay.com
You are viewing rates from banks across Effingham
Below are two-year Certificates of Deposit (CD) rates from banks in Effingham, Illinois. Two year CDs generally offer a higher rate than 1 year CDs but require a longer commitment. Depending on the economy, longer term CDs may or may not offer more premium as the term increases. If you expect rates on bank products to drop, can afford to lock the money away, and feel you are receiving enough premium for the time commitment, then longer-term CDs may be appropriate.
Effingham, IL - December 13, 2025
2 Year CD National Average : 0.66% ?
| Banks | APY | MIN | MILES ? | |
|---|---|---|---|---|
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4.22% 3.24% |
$500 $1,000 |
20.74 |
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Rate History: 1.00% → 4.42% → 4.22% |
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3.75% |
$25,000 |
- |
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Rate History: 4.00% → 4.00% → 4.21% → 4.00% → 3.75% |
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79Thru | Mar 21, 2023 Parent seems to be owned by a large Chilean bank. Not saying this is good or bad, but it is complication, especially in the current environment. Read More |
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3.50% |
$2,500 |
- |
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Rate History: 4.00% → 4.10% → 4.00% → 3.75% → 3.50% |
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HAL1975 | Aug 2, 2023 Sallie mae is just a horrible institution. We've done business with them before and swore on the holy bible not to go near there again, but a 18 mos cd at 5.55% brought us back. Read More |
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3.50% |
$5,000 |
- |
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Rate History: 3.50% → 3.50% → 3.50% |
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james | Nov 18, 2023 bad bank hold your deposit over months without credit in your account, no interest, they don’t want pay you interest , they want your money with 0% interest. Read More |
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3.50% |
$500 |
- |
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|
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Rate History: 3.50% → 3.50% → 3.75% → 3.50% |
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2 Months with Vio Bank | Sep 4, 2025 And I discovered that they play bait and switch and have no problems lying. This system won't let me give it zero or negative stars so I have given it one, but that is at least one too many. Read More |
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3.45% |
$10,000 |
- |
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Early Withdrawal Penalty is 270 days interest. |
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Neil | Dec 18, 2023 I submitted a CD application 18 months 5.50 APY over a week ago and my application was declined no reason was given, I have the funds in another bank for transfer, credit score over 800. I think the reason... Read More |
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3.39% |
$1,000 |
1.10 |
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Rate History: 2.02% → 2.88% → 2.02% → 1.51% → 3.39% |
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3.10% |
$500 |
16.96 |
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Rate History: 3.50% → 3.30% → 3.25% → 3.15% → 3.10% |
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|
3.00% 0.01% |
$5,000 $500 |
1.03 |
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Rate History: 5.00% → 4.00% → 3.50% → 2.00% → 3.00% |
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Juan Ricardo | Nov 12, 2018 Helpful w/$ Read More |
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1.00% |
$10,000 |
19.60 |
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0.90% |
$10,000 |
10.93 |
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0.90% |
$1,000 |
23.51 |
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0.90% |
$10,000 |
23.16 |
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0.85% |
$10,000 |
16.71 |
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0.85% |
$10,000 |
12.80 |
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0.75% |
$10,000 |
0.32 |
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0.70% |
$10,000 |
23.25 |
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0.65% |
$10,000 |
24.42 |
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0.63% |
$500 |
14.66 |
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0.60% |
$10,000 |
10.31 |
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0.55% |
$10,000 |
23.64 |
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0.55% |
$10,000 |
20.76 |
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Mikki9678 | Nov 3, 2021 If anyone is considering using Midland States Bank for estate or trust planning and administration, I’d urge you to be careful and do your due diligence. I’ll first say that I am a CPA with experience ... Read More |
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0.55% |
$10,000 |
7.80 |
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0.50% |
$1,000 |
10.90 |
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0.45% |
$10,000 |
20.74 |
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0.40% |
$1,000 |
- |
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RTN1949 | Jun 2, 2022 I've been a customer since CIT emerged from the financial crisis as a real competitor in this space (14 years or so). Zero complaints about anything over this time ... until today. Now they are offering a... Read More |
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0.35% |
$1,000 |
10.99 |
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0.20% |
$1,000 |
- |
Learn More
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Jeff Talmage | Aug 22, 2025 Echoing the other negative reviews here. Avoid because rate is bait-and-switch, website is awful and service is not acceptable (provided by offshore reps who barely speak English, raise their voice and ad... Read More |
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BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.
Two year CDs, also know as 24 month CDs are an intermediate term product that commits a depositor to keeping their money in the bank for 24 months in return for a fixed rate of return during that period. All two year CDs shown on BestCashCow are FDIC insured.
While two year CDs commit a person to locking their money in for double the time of a 12 month CD, the rate is not double. As a result, a depositor should think about whether the extra rate is worth the extra time commitment.
In general, if rates are rising, it makes sense not to lock up money for an extended period of time.
If rates are falling, then it makes sense to put money into a longer-term instrument to lock-in a higher rate.
Many find opening CDs at local bank is often easier than online. In a branch, a depositor can sign CD documents and initiate a CD in person, and can often get it done faster than mailing a check or initiating a wire transfer in order to get their money to an online bank. Many also appreciate the opportunity to interact face to face with a real human being as opposed to by phone or instant messaging.
All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.
To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.
Find out how much extra money you can earn by moving your bank money into an account that pays more.
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