Illinois

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Shorewood, Illinois CD Rates – 5-Year

You are viewing rates from banks across Shorewood





Below are 5-year CD Rates from banks that are located in Shorewood, { Illinois}. Five Year Certificates of Deposit (CD) are generally the longest term CD that most banks will offer. They tend to offer the highest rates but require the longest commitment. Five year CDs are especially popular in a declining interest rate environment as depositors can lock money in at the highest rate possible for the longest period of time. They are also popular with depositors who are willing to lock up money for five years in return for extra yield.

Shorewood, IL - July 16, 2025

5 Year CD National Average : 0.92% ?

Banks APY MIN MILES ?

Rate for Senior Citizens is 1.11% APY.
Rate History: 4.50% → 4.38% → 4.05% → 4.13% → 3.76%

Rate History: 4.00% → 4.25% → 4.00% → 3.75%

Rate History: 3.50% → 4.00% → 3.75% → 3.50%

Rate History: 3.95% → 3.85% → 3.80% → 3.45%

| Feb 9, 2021

The wonderful assistants at Beal Bank are wonderful. Rebeca took great care of me and made sure all my concerns were addressed. Read More

Rate History: 3.55% → 3.44%

Rate History: 2.52% → 3.00% → 3.40% → 3.25% → 3.35%

Rate History: 3.45% → 3.65% → 3.35%

| Dec 3, 2019

Have done business with "Hope's" San Diego branch for a few years. Always courteous and helpful. Looking forward to doing business with them in the future. Read More

Rate History: 0.25% → 3.29% → 3.25%

Rate History: 2.85% → 3.10%

| Feb 2, 2021

This bank's site shows the 15 mo rate at .45% Read More

Rate History: 2.50% → 3.00%

2.92%

$10,000

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Rate History: 1.00% → 3.55% → 3.03% → 2.27%

Rate History: 0.01% → 2.25%

| Nov 12, 2018

Helpful w/$ Read More

Rate History: 2.08% → 2.14%

Rate History: 0.30% → 2.00%

| Feb 25, 2022

I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account. Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary. Accelerate Savings w... Read More

Rate History: 2.00% → 2.50% → 2.00%

| Jan 2, 2023

Terrible customer service by investment side. Fees too high , too full of themselves Read More

Rate History: 4.05% → 3.39% → 1.76% → 2.88% → 1.76%

Rate History: 2.00% → 1.75%

| May 8, 2021

Location: 5069 N. Broadway Chicago IL 60640 Read More

1.51%

$10,000

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1.51%

$10,000

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1.50%

$10,000

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1.50%

$100,000

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1.46%

$10,000

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1.46%

$10,000

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1.41%

$100,000

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1.40%

$100,000

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1.38%

$500

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1.36%

$10,000

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1.36%

$1,000

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1.35%

$100,000

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1.35%

$100,000

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Rate History: 1.00% → 1.35% → 1.30% → 1.35%

| Nov 17, 2020

Is notarie services available today at a woodforest on wilkinson blvd Read More

1.31%

$10,000

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1.31%

$10,000

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1.31%

$10,000

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1.31%

$10,000

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1.31%

$10,000

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1.31%

$10,000

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1.30%

$100,000

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1.30%

$100,000

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1.30%

$500

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1.30%

$10,000

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1.30%

$50,000

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1.30%

$10,000

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1.30%

$1,000

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1.30%

$10,000

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1.30%

$10,000

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1.27%

$10,000

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1.26%

$10,000

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1.26%

$1,000

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1.26%

$500

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1.26%

$10,000

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1.25%

$10,000

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1.25%

$10,000

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1.25%

$10,000

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1.25%

$10,000

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1.25%

$10,000

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1.25%

$10,000

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1.25%

$1,000

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1.25%

$10,000

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1.25%

$10,000

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1.25%

$10,000

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1.25%

$5,000

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1.25%

$1,000

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1.25%

$100,000

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Rate History: 1.50% → 1.25%

1.21%

$10,000

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1.21%

$10,000

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1.21%

$100,000

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1.20%

$500

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1.20%

$10,000

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1.20%

$10,000

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1.20%

$10,000

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1.20%

$10,000

-

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| Sep 26, 2016

I think the specials have ended. can you double check? Read More

1.20%

$10,000

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1.20%

$10,000

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1.20%

$10,000

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1.20%

$10,000

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1.20%

$10,000

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1.20%

$10,000

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1.20%

$10,000

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1.20%

$10,000

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1.15%

$500

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1.15%

$10,000

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1.15%

$10,000

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1.15%

$10,000

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1.15%

$10,000

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1.15%

$10,000

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1.15%

$1,000

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1.15%

$10,000

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1.15%

$10,000

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1.15%

$500

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1.15%

$10,000

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1.11%

$10,000

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1.11%

$10,000

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1.11%

$100,000

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1.11%

$10,000

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1.11%

$10,000

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1.11%

$10,000

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1.10%

$10,000

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1.10%

$10,000

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1.10%

$10,000

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| Dec 5, 2020

You people did a very good job with our loan. You where very prompt in sending the overrun within a few days of the last payment ! Thank You ! Read More

1.10%

$100,000

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1.10%

$10,000

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1.10%

$10,000

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1.10%

$10,000

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1.10%

$10,000

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1.10%

$50,000

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1.10%

$10,000

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1.10%

$10,000

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1.06%

$10,000

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1.06%

$100,000

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1.05%

$10,000

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1.05%

$10,000

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1.05%

$10,000

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1.05%

$500

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1.05%

$1,000

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1.05%

$10,000

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1.01%

$10,000

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1.01%

$10,000

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1.01%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$100,000

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1.00%

$10,000

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1.00%

$10,000

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| Oct 13, 2022

Upon entering the Savanna Location, I 1st waited and waited and then was told it was gonna be a few minutes; Therefore when one's app once I got to deposit money they tried to tell me it was too late. To... Read More

1.00%

$100,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$100,000

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1.00%

$10,000

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Rate History: 0.25% → 1.35% → 4.00% → 1.35% → 1.00%

| Jan 29, 2024

Tried to enter information on line to open a 5 year CD, multiple time and wasn't accepted. Talked to a live person who was of no help at all. My credit score is over 800 and I have plenty of money in oth... Read More

1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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| Nov 12, 2022

This bank has changed from what it used to be some years ago. I used to have an account, got loans through them. Did all my banking through this establishment. They were a hometown proud financial insti... Read More

1.00%

$1,000

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1.00%

$10,000

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Rate History: 1.50% → 1.00%

1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$10,000

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1.00%

$100,000

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1.00%

$1,000

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1.00%

$10,000

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1.00%

$10,000

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0.95%

$10,000

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0.95%

$10,000

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| 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

0.95%

$10,000

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0.95%

$10,000

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0.95%

$10,000

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0.95%

$10,000

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0.95%

$10,000

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0.95%

$10,000

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0.95%

$10,000

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0.95%

$1,000

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0.95%

$10,000

-

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| Aug 31, 2021

Community Partners Savings Bank aka Marion County Savings are dishonest, incompetent, deceitful and they break the FCRA laws. They lie and trick you to get as much money as they can out of you, greedy for ... Read More

0.90%

$500

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0.90%

$10,000

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0.90%

$10,000

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0.90%

$10,000

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0.90%

$10,000

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0.90%

$10,000

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0.90%

$10,000

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0.90%

$10,000

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0.90%

$10,000

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0.90%

$10,000

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0.90%

$1,000

-

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0.90%

$10,000

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0.85%

$10,000

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0.85%

$100,000

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0.85%

$10,000

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0.85%

$10,000

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0.85%

$10,000

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0.85%

$10,000

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0.85%

$25,000

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0.85%

$100,000

-

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| Aug 31, 2021

Community Partners Savings Bank aka Marion County Savings are dishonest, incompetent, deceitful and they break the FCRA laws. They lie and trick you to get as much money as they can out of you, greedy for ... Read More

0.80%

$10,000

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0.80%

$10,000

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0.80%

$10,000

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0.80%

$10,000

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0.80%

$100,000

-

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0.80%

$10,000

-

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0.80%

$100,000

-

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0.80%

$10,000

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0.78%

$1,000

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0.77%

$10,000

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0.76%

$100,000

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0.75%

$10,000

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| Nov 18, 2019

sweet thanks Read More

0.75%

$10,000

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0.75%

$100,000

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0.75%

$10,000

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0.75%

$10,000

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0.75%

$10,000

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0.75%

$10,000

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0.75%

$10,000

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0.75%

$10,000

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0.75%

$10,000

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0.75%

$10,000

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0.75%

$10,000

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0.75%

$100,000

-

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| Jul 9, 2021

ABSOLUTELY RIDICULOUS how this place is still around in Wheeling. Taking any more than 3 days on a loan check is UNEXCUSEABLE. Having an 800 plus credit rating. A SENIOR. Wanting to move out ofa big hou... Read More

| Oct 28, 2017

Le agradezco a la Sra. Clara por hacerme confiar nuevamente. Mi propia Historia comenzó en 2010 cuando estaba buscando cómo conseguir un sueño en Sudáfrica y gasté todo el dinero que tenía e incluso ... Read More

0.75%

$10,000

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0.75%

$10,000

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0.75%

$2,500

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0.75%

$100,000

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0.70%

$10,000

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0.70%

$10,000

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0.70%

$10,000

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0.70%

$100,000

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0.70%

$10,000

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0.70%

$100,000

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0.70%

$10,000

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0.70%

$10,000

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0.65%

$100,000

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0.65%

$10,000

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0.65%

$100,000

-

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| Oct 13, 2021

Good for savers. Easy to transfer funds in and out, not paying high transaction processing $ or being limited to low amounts per day. Does not subject applicants to very much ID interrogation and apparent... Read More

0.65%

$1,000

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0.65%

$1,000

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0.65%

$10,000

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0.65%

$100,000

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0.65%

$100,000

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| Feb 21, 2019

Please read this for all small business owners. Do NOT use wintrust for any small business loans. They drained me for over 2 months, and I constantly had to contact them to see what is up. We were told ... Read More

0.65%

$10,000

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0.62%

$10,000

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0.61%

$10,000

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0.61%

$10,000

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0.60%

$10,000

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0.60%

$10,000

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0.60%

$10,000

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0.60%

$10,000

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0.60%

$10,000

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0.60%

$10,000

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0.60%

$10,000

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0.60%

$10,000

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| Mar 25, 2015

OLIVER NORTH AIR LINES GOVERNOR BLANCO Read More

0.60%

$10,000

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0.60%

$10,000

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0.60%

$100,000

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0.60%

$10,000

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0.60%

$10,000

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| Jun 20, 2019

12 month rate not 2.5. Changed to 1.5%. Read More

0.60%

$100,000

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0.60%

$10,000

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| Aug 30, 2019

I witnessed an appallingly racist exchange at the window this morning, and the teller had just been perfectly polite to me. On top of the rudeness I've come to expect from a couple of their tellers, this p... Read More

| Oct 13, 2021

Good for savers. Easy to transfer funds in and out, not paying high transaction processing $ or being limited to low amounts per day. Does not subject applicants to very much ID interrogation and apparent... Read More

| Feb 21, 2019

Please read this for all small business owners. Do NOT use wintrust for any small business loans. They drained me for over 2 months, and I constantly had to contact them to see what is up. We were told ... Read More

| Jun 26, 2019

On a scale of 1 to 10 GN bank rates a negative 1. While they gladly accept your deposits, they are far from forhright with your withdrawals. Especially if you are withdrawing large sums of money or closing... Read More

0.55%

$10,000

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0.55%

$10,000

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0.55%

$10,000

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0.55%

$10,000

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0.55%

$100,000

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0.55%

$10,000

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| Sep 6, 2022

DO NOT TRUST THIS BANK. I caught them Ted handed trying to hold my funds through various methods even going so far as to not allow me to transfer my funds to another bank. I've been banking with them for... Read More

0.55%

$10,000

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0.50%

$10,000

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0.50%

$10,000

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0.50%

$1,000

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0.50%

$10,000

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0.50%

$10,000

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0.50%

$10,000

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0.50%

$10,000

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| Sep 6, 2022

DO NOT TRUST THIS BANK. I caught them Ted handed trying to hold my funds through various methods even going so far as to not allow me to transfer my funds to another bank. I've been banking with them for... Read More

0.50%

$10,000

-

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| Mar 18, 2021

I called Huntington yesterday and the branch manager told me that the rate listed on Best Cash Cow doesn't exist......... Read More

0.50%

$1,000

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0.50%

$2,500

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0.50%

$10,000

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0.48%

$10,000

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0.45%

$10,000

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0.45%

$100,000

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0.45%

$10,000

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0.45%

$10,000

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0.45%

$10,000

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0.45%

$500

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| Jul 18, 2021

I have a neighbor whose mortgage is with ONB. I am licensed to practice law but I am not writing this review as a lawyer, but rather as a heads up if your spouse should happen to die while you owe any mone... Read More

| Dec 26, 2017

Good people to deal with. Competitive rates better than CEFCU. Easy in/out processing of CD's & MM. Read More

| May 10, 2022

Centrust Bank is excellent to do business with. Friendly and experienced bankers. Read More

0.40%

$10,000

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0.40%

$10,000

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0.40%

$10,000

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| Jun 12, 2023

US Bank reported me to dult Protective Services because my husband is 85 and I am63. He got sick and went into a nursing hime for 3 months. My husband always handled the financial affairs. I had to take ov... Read More

0.35%

$100,000

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0.30%

$10,000

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0.30%

$10,000

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0.29%

$1,000

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0.25%

$10,000

-

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| Aug 22, 2017

$100K min on new CD's. They will not bend. So had to take $170K to another bank, now @ 2.5%. Read More

0.20%

$10,000

-

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Rate History: 0.03% → 0.05%

| May 18, 2019

Had checking and savings for years when living in Philly. Went into PNC 2.35 APY high yield savings. They have thus far maintained rate. Easy web site and great customer phone service. Still maintain check... Read More

| Jul 24, 2023

BOFA is a den of people thieves camouflaged as bank operatives. There’s a soon to be uncovered carrel of money laundry there. They took all my money and don’t want to release it to me for no particular... Read More

0.01%

$10,000

-

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0.00%

$10,000

-

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All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

Branches Info around zip 10116


Branch Street City State
State Bank of India
State Bank Of India Branch
19 South Lasalle Street, 2nd Floor Chicago IL
Farmers National Bank
The Farmers National Bank Branch
114 West Third Street Prophetstown IL
Evergreen Bank Group
Evergreen Bank Group Branch
1515 West 22nd Street, Suite 100w Oak Brook IL
Beal Bank USA
Chicago Branch
3232 Lake Avenue, Suite 200 Wilmette IL
The Clay City Banking Co.
The Clay City Banking Co. Branch
331 South Main Street Clay City IL
Farmers National Bank
The Farmers National Bank Branch
114 West Third Street Prophetstown IL
State Bank
State Bank Of Waterloo Branch
855 North Illinois Route 3 Waterloo IL
Bank of Hope
Devon Branch
4001 West Devon Avenue Chicago IL
Old Second National Bank
Maple Park Branch
1100 South County Line Road Maple Park IL
FCB Banks
Albers Facility Branch
201 North Commercial Street Albers IL
Dieterich Bank
Dieterich Bank, N.A. Branch
101 South Main Street Dieterich IL
The Fairfield National Bank
The Fairfield National Bank Branch
220 East Main Street Fairfield IL
First Robinson Savings Bank, National Association
First Robinson Savings Bank, National Association Branch
501 East Main Street Robinson IL
Fifth Third Bank, National Association
Merchandise Mart Branch
222 Merchandise Mart Chicago IL
Morton Community Bank
Arthur Branch
411 South Vine Street Arthur IL
Morton Community Bank
Arthur Branch
411 South Vine Street Arthur IL
Prairie Community Bank
Prairie Community Bank Branch
800 West Grant Highway Marengo IL
Heartland Bank and Trust Company
108 North Main Street Branch
108 North Main Street Eureka IL
Citibank, National Association
Brookfield Branch
9009 Ogden Avenue Brookfield IL
JPMorgan Chase Bank, National Association
Michigan Avenue Branch
605 North Michigan Avenue Chicago IL
North County Savings Bank
North County Savings Bank Branch
411 West Market Street Red Bud IL
Washington Savings Bank
Mattoon Branch
1111 Charleston Avenue Mattoon IL
International Bank of Chicago
International Bank Of Chicago Branch
5069 North Broadway Chicago IL
Peoples National Bank of Kewanee
Peoples National Bank Of Kewanee Branch
207 North Tremont Street Kewanee IL
United Community Bank
Winchester Branch
21 East Market Winchester IL
Central State Bank
Kinderhook Branch
175 W Quincy St. Kinderhook IL
Security Savings Bank
Security Savings Bank Branch
220 East Broadway Monmouth IL
Preferred Bank
Preferred Bank Branch
602 North Route 49 Casey IL
First National Bank of Waterloo
Prairie National Bank Branch
110 East Main Street Stewardson IL
Anderson State Bank
Anderson State Bank Branch
111 West Highway Street Oneida IL
Midland Community Bank
Midland Community Bank Branch
112 Market Street Kincaid IL
First Neighbor Bank, National Association
Greenup Branch
705 East Cumberland Street Greenup IL
The Havana National Bank
The Havana National Bank Branch
112 South Orange Street Havana IL
The FNB Community Bank
Ramsey Branch
227 South Superior Street Ramsey IL
INB, National Association
Illinois National Bank Branch
322 East Capitol Street Springfield IL
Longview Community Bank
The Farmers Bank Of Mt. Pulaski Branch
130 South Washington Street Mount Pulaski IL
Woodforest National Bank
0139 Rockford Walmart Branch
3849 North Ridge Drive Rockford IL
The First National Bank of Raymond
The First National Bank Of Raymond Branch
403 East Broad Street Raymond IL
Bank of Hillsboro, National Association
Keyesport Branch
1013 Mulberry Street Keyesport IL
Bank of Springfield
Bank Of Springfield Branch
3400 West Wabash Springfield IL
Shelby County State Bank
Strasburg Branch
Commercial & Chestnut Strasburg IL
Anderson State Bank
Anderson State Bank Branch
111 West Highway Street Oneida IL
First Federal Savings and Loan Association of Central Illinois, S.B.
First Fs & La Of Shelbyville Thrift Branch
800 West Lincoln Avenue Charleston IL
Fidelity Bank & Trust
East Dubuque Branch
242 Wall Street East Dubuque IL
Anna State Bank
Anna State Bank Branch
100 East Vienna Street Anna IL
BankChampaign, National Association
Bankchampaign, National Association Branch
2101 South Neil Champaign IL
First Secure Community Bank
Morris Branch
211 East Jefferson Street Morris IL
Fortress Bank
Fortress Bank Branch
9000 N. Knoxville Peoria IL
Midland Community Bank
Midland Community Bank Branch
112 Market Street Kincaid IL
The Old Exchange National Bank of Okawville
The Old Exchange National Bank Of Ok Branch
Walnut And Nashville Streets Okawville IL
Pan American Bank & Trust
Pan American Bank & Trust Branch
1440 West North Avenue Melrose Park IL
First Secure Bank and Trust Co.
First Secure Bank And Trust Co. Branch
10360 South Roberts Road Palos Hills IL
United Fidelity Bank, fsb
Fayette County Branch
320 North Main Street Saint Elmo IL
North Central Bank
Ladd Branch
110 North Main Street Ladd IL
State Bank of Cherry
State Bank Of Cherry Branch
110 South Main Street Cherry IL
The First National Bank of Ava
The First National Bank Of Ava Branch
304 West Main Street Ava IL
Bank of O'Fallon
Bank Of O'fallon Branch
901 South Lincoln Avenue O'fallon IL
Longview Bank
Longview Bank Branch
102 South East Avenue Ogden IL
First Community Bank of Hillsboro
First Community Bank Of Hillsboro Branch
420 South Main Street Hillsboro IL
Longview Community Bank
The Farmers Bank Of Mt. Pulaski Branch
130 South Washington Street Mount Pulaski IL
INB, National Association
Illinois National Bank Branch
322 East Capitol Street Springfield IL
Servbank,sb
Allied First Bank,sb Branch
3201 Orchard Rd Oswego IL
The Atlanta National Bank
The Atlanta National Bank Branch
105 Southwest Church Street Atlanta IL
First State Bank of St. Peter
First State Bank Of St. Peter Branch
200 East Third St Saint Peter IL
Teutopolis State Bank
Teutopolis State Bank Branch
106 East Main Street Teutopolis IL
Crossroads Bank
Crossroads Bank Branch
2000 South Banker Street Effingham IL
Hometown National Bank
Hometown National Bank Branch
260 Bucklin Street La Salle IL
Great Rivers Bank
The First National Bank Of Barry Branch
694 Bainbridge Barry IL
Williamsville State Bank & Trust
Williamsville State Bank & Trust Branch
512 West Main Street Williamsville IL
PeopleFirst Bank
Peoplefirst Bank Branch
3100 Theodore Street Joliet IL
Byline Bank
Cermak Branch
2201 West Cermak Road Chicago IL
First State Bank of Beecher City
First State Bank Of Beecher City Branch
101 South Charles Street Beecher City IL
American Commercial Bank & Trust, National Association
The First National Bank Of Ottawa Branch
701 La Salle Street Ottawa IL
Peoples National Bank , N.A.
Peoples National Bank , N.A. Branch
520 South 42nd Street Mount Vernon IL
State Street Bank and Trust Company
State Street Bank And Trust Company Branch
801 State Street Quincy IL
Bank of Rantoul
Rossville Branch
111 North Chicago Rossville IL
Fidelity Bank & Trust
East Dubuque Branch
242 Wall Street East Dubuque IL
Fortress Bank
Fortress Bank Branch
9000 N. Knoxville Peoria IL
The First National Bank in Amboy
Franklin Grove Bank Branch
108 Elm Street Franklin Grove IL
Bank of Stronghurst
Bank Of Stronghurst Branch
108 East Main Street Stronghurst IL
Sterling Bank
Sterling Bank Branch
360 S. 1st Street Saint Charles IL
1st Community Bank
1st Community Bank Branch
407 Third Street Sherrard IL
The First National Bank of Arenzville
The First National Bank Of Arenzvill Branch
110 South Charles Street Arenzville IL
The First National Bank of Brownstown
The First National Bank Of Brownstow Branch
108 East Main Street Brownstown IL
Table Grove State Bank
Table Grove State Bank Branch
121 South Broadway Street Table Grove IL
The First National Bank of Okawville
The First National Bank Of Okawville Branch
203 East Walnut Street Okawville IL
Exchange State Bank
Exchange State Bank Branch
126 North Broad Street Lanark IL
Southern Illinois Bank
Southern Illinois Bank Branch
1012 West Broadway Johnston City IL
Security Bank, s.b.
Security Bank, S.B. Branch
510 E Monroe St Springfield IL
Princeville State Bank
Princeville State Bank Branch
142 E. Main Street Princeville IL
First National Bank of Steeleville
First National Bank Of Steeleville Branch
400 West Broadway Steeleville IL
Bank of Calhoun County
Bank Of Calhoun County Branch
Park And Main Streets Hardin IL
First State Bank
Mcnabb Branch
411 West Main Street Mcnabb IL
Murphy-Wall State Bank and Trust Company
Elkville Branch
110 S 4th St Elkville IL
Sauk Valley Bank & Trust Company
Sauk Valley Bank & Trust Company Branch
201 West 3rd Street Sterling IL
Anna State Bank
Anna State Bank Branch
100 East Vienna Street Anna IL
United Community Bank
Winchester Branch
21 East Market Winchester IL
SouthernTrust Bank
Southerntrust Bank Branch
101 North Broadway Goreville IL
Citizens State Bank
Front Street Branch
133 West Front Avenue Stockton IL
Citizens Community Bank
Citizens Community Bank Branch
9 East Main Street Mascoutah IL
First Mid Bank & Trust, National Association
First Mid-Illinois Bank & Trust, National Association Branch
1515 Charleston Avenue Mattoon IL
First National Bank in Taylorville
Mount Auburn Branch
502 South Broad Street Mount Auburn IL
Grand Rivers Community Bank
Grand Rivers Community Bank Branch
260 S Main St Grand Chain IL
BankOrion
Annawan Branch
302 West Front Street Annawan IL
Farmers & Merchants Bank of Hutsonville
Farmers & Merchants Bank Of Hutsonvi Branch
108 S Main St Hutsonville IL
Peoples National Bank , N.A.
Peoples National Bank , N.A. Branch
520 South 42nd Street Mount Vernon IL
DeWitt Savings Bank
De Witt Savings Bank Branch
302 West Main Street Clinton IL
Grundy Bank
Grundy Bank Branch
201 Liberty Street Morris IL
Farmers State Bank of Hoffman
Hoyleton Banking Center Facility Branch
85 East St. Louis Street Hoyleton IL
Middletown State Bank
Middletown State Bank Branch
6th And Madison Streets Middletown IL
Community State Bank of Rock Falls
Morrison Branch
220 East Main Street Morrison IL
Southern Bank
Tamms Facility Branch
145 Russell Avenue Tamms IL
Farmers State Bank of Alto Pass, Ill.
Farmers State Bank Of Alto Pass, Ill. Branch
55 N Elm St Alto Pass IL
Security Savings Bank
Security Savings Bank Branch
220 East Broadway Monmouth IL
The Bank of Herrin
The Bank Of Herrin Branch
101 South Park Avenue Herrin IL
Bank of Yates City
Bank Of Yates City Branch
107 E Main Street Yates City IL
Anchor State Bank
Anchor State Bank Branch
246 2nd Street Anchor IL
PeopleFirst Bank
Peoplefirst Bank Branch
3100 Theodore Street Joliet IL
Brickyard Bank
Brickyard Bank Branch
6676 North Lincoln Avenue Lincolnwood IL
Eureka Savings Bank
Mendota Branch
1300 13th Avenue Mendota IL
Lake Forest Bank & Trust Company, National Association
Lake Forest Bank & Trust Company, National Association Branch
727 North Bank Lane Lake Forest IL
The First National Bank of Sparta
The First National Bank Of Sparta Branch
Broadway And Market Streets Sparta IL
The Peoples State Bank of Newton, Illinois
Bridgeport Branch
201 North Main Street Bridgeport IL
Beardstown Savings s.b.
Beardstown Savings S.B. Branch
301 State Street Beardstown IL
First National Bank in Pinckneyville
First National Bank In Pinckneyville Branch
210 South Main Street Pinckneyville IL
Grand Ridge National Bank
Grand Ridge National Bank Branch
105 West Main Street Grand Ridge IL
First FSB of Mascoutah
First Fsb Of Mascoutah Branch
101 West Main St Mascoutah IL
Spring Valley City Bank
Spring Valley City Bank Branch
315 North Cornelia Street Spring Valley IL
State Bank of Whittington
State Bank Of Whittington Branch
200 North Main Street Benton IL
Community Bank of Elmhurst
Community Bank Of Elmhurst Branch
330 West Butterfield Road Elmhurst IL
Casey State Bank
Casey State Bank Branch
305-307 North Central Avenue Casey IL
The Farmers State Bank and Trust Company
The Farmers State Bank And Trust Com Branch
200 West State Street Jacksonville IL
Mason City National Bank
Mason City National Bank Branch
104 West Pine Street Mason City IL
Farmers State Bank of Western Illinois
Alexis Branch
205 East Broadway Alexis IL
Blackhawk Bank & Trust
124 N Main St Br Branch
124 North Main Street Port Byron IL
Fidelity Bank
Savanna-Thomson State Bank Branch
Main Street And Route 84 Thomson IL
Warren-Boynton State Bank
Warren-Boynton State Bank Branch
702 West Illinois Street New Berlin IL
Milledgeville State Bank
Milledgeville State Bank Branch
451 North Main Street Milledgeville IL
Central Bank Illinois
Central Bank Fulton Branch
1404 14th Avenue Fulton IL
Community State Bank
Neponset Whaples Branch
120 W. Commercial St Neponset IL
Byron Bank
Byron Bank Branch
200 North Walnut Byron IL
The Harvard State Bank
The Harvard State Bank Branch
33-35 North Ayer Street Harvard IL
BMO Bank National Association
Harris Trust And Savings/Chicago Bra Branch
333 Park Avenue Glencoe IL
The First National Bank of Carmi
Mount Carmel Branch
601 Market Street Mount Carmel IL
Bank & Trust Company
Bank & Trust Company Branch
401 North Madison Street Litchfield IL
Southern Bank
Tamms Facility Branch
145 Russell Avenue Tamms IL
The State Bank of Geneva
The State Bank Of Geneva Branch
22 South Fourth Street Geneva IL
Nashville Savings Bank
Nashville Savings Bank Branch
209 East Lebanon Street Nashville IL
State Bank of Toulon
State Bank Of Toulon Branch
102 West Main Street Toulon IL
BankOrion
Annawan Branch
302 West Front Street Annawan IL
State Bank of Industry
State Bank Of Industry Branch
101 W. Main Street Industry IL
The Hill-Dodge Banking Company
The Hill-Dodge Banking Company Branch
210 N 6th St Warsaw IL
Bank of Pontiac
Fairbury Branch
104 East Locust Street Fairbury IL
OSB Community Bank
Ottawa Savings Bank Branch
925 La Salle St Ottawa IL
MidAmerica National Bank
Midamerica National Bank Branch
100 West Elm Street Canton IL
Belmont Bank & Trust Company
Belmont Bank & Trust Company Branch
8250 West Belmont Avenue Chicago IL
Flanagan State Bank
Flanagan State Bank Branch
301 West Falcon Highway Flanagan IL
First State Bank of Campbell Hill
Coulterville Branch
115 North 4th Street Coulterville IL
Tompkins State Bank
Tompkins State Bank Branch
117 North Main Street Avon IL
First National Bank in Olney
Oblong Branch
203 West Main Street Oblong IL
Republic Bank of Chicago
West Chicago Branch
101 Main Street West Chicago IL
The Gifford State Bank
The Gifford State Bank Branch
304 South Main Street Gifford IL
Community Bank of Trenton
Community Bank Of Trenton Branch
104 East Broadway Trenton IL
Citizens National Bank of Albion
Mt Erie Branch
101 West Main Street Mount Erie IL
TrustBank
Cisne Branch
401 Park Street Cisne IL
Anchor State Bank
Anchor State Bank Branch
246 2nd Street Anchor IL
The Anna -Jonesboro National Bank
The Anna -jonesboro National Bank Branch
201 South Main Street Anna IL
1NB Bank
The First National Bank In Carlyle Branch
891 Fairfax Street Carlyle IL
Bank of Belleville
Bank Of Belleville Branch
215 South Illinois Street Belleville IL
Town Center Bank
Town Center Bank Branch
20181 S Lagrange Road Frankfort IL
The Fisher National Bank
The Fisher National Bank Branch
102 East Division Street Fisher IL
The State Bank of Pearl City
The State Bank Of Pearl City Branch
215 South Main Street Pearl City IL
Midland States Bank
Midland States Bank Branch
1201 Network Centre Drive Effingham IL
La Salle State Bank
La Salle State Bank Branch
654 First Street La Salle IL
The Anna -Jonesboro National Bank
The Anna -jonesboro National Bank Branch
201 South Main Street Anna IL
First Southern Bank
C.P. Burnett & Sons, Bankers Bank Branch
1023 Fourth Street Eldorado IL
State Bank of Graymont
State Bank Of Graymont Branch
204 Main Street Graymont IL
The First National Bank of Allendale
The First National Bank Of Allendale Branch
301 East Main Street Allendale IL
American Community Bank & Trust
American Community Bank & Trust Branch
1290 Lake Avenue Woodstock IL
The First National Bank of Lacon
The First National Bank Of Lacon Branch
111 South Broad Street Lacon IL
The Granville National Bank
The Granville National Bank Branch
328 South Mccoy Street Granville IL
Community Savings Bank
Community Savings Bank Branch
4801 West Belmont Street Chicago IL
Community Partners Savings Bank
Pekin Branch
532 Court Street Pekin IL
First Community Bank of Moultrie County
The First Community Bank Of Moultrie Branch
1 South Main Street Sullivan IL
Farmers State Bank
Farmers State Bank Branch
104 East Main Street Elmwood IL
Buena Vista National Bank
Buena Vista National Bank Branch
1309 Swanwick Street Chester IL
First State Bank Shannon-Polo
First State Bank Shannon-Polo Branch
1 South Linn Street Shannon IL
Byron Bank
Byron Bank Branch
200 North Walnut Byron IL
Alliance Community Bank
Athens State Bank Branch
200 North West Street Athens IL
Union Savings Bank
Mount Morris Branch
2 West Main Street Mount Morris IL
Central Bank Illinois
Central Bank Fulton Branch
1404 14th Avenue Fulton IL
HomeBank
Bank Of Quincy Branch
1132 Broadway Quincy IL
St. Charles Bank & Trust Company, National Association
Elgin Branch
1001 South Randall Road Elgin IL
Scott State Bank
State Bank Of Niantic Branch
200 East Lewis Street Niantic IL
First Community Bank, Xenia-Flora
First Community Bank, Xenia-Flora Branch
260 Front Street Xenia IL
Clay County State Bank
Clay County State Bank Branch
111 North Church Street Louisville IL
Petefish, Skiles & Co.
Petefish, Skiles & Co. Branch
102 West Beardstown Street Virginia IL
Holcomb Bank
Holcomb Bank Branch
108 W Main Street Holcomb IL
Prairie State Bank and Trust
Meredosia Branch
100 Main Street Meredosia IL
West Central Bank
West Central Bank Branch
400 E Buchanan Ashland IL
Flora Bank & Trust
Flora Bank & Trust Branch
1010 West North Avenue Flora IL
Farmers and Merchants State Bank of Bushnell
Farmers And Merchants State Bank Of Branch
484 East Main Street Bushnell IL
State Bank of Nauvoo
State Bank Of Nauvoo Branch
1205 Mulholland Street Nauvoo IL
First Community Bank and Trust
First Community Bank And Trust Branch
1111 Dixie Highway Beecher IL
Community Partners Savings Bank
Pekin Branch
532 Court Street Pekin IL
Peoples State Bank of Colfax
Peoples State Bank Of Colfax Branch
101 West Main Street Colfax IL
Stillman BancCorp N.A.
Stillman Banccorp N.A. Branch
101 East Main Street Stillman Valley IL
The Farmers and Merchants National Bank of Nashville
The Farmers And Merchants National B Branch
120 West St. Louis Street Nashville IL
American Bank and Trust Company, National Association
Rock Island Branch
3730 18th Avenue Rock Island IL
Northbrook Bank and Trust Company, National Association
Northview Main Branch
245 Waukegan Road Northfield IL
Union Federal Savings and Loan Association
Union Federal Savings And Loan Assoc Branch
104 North Tremont Street Kewanee IL
Cornerstone National Bank & Trust Company
Cornerstone National Bank & Trust Co Branch
One West Northwest Highway Palatine IL
Beverly Bank & Trust Company, National Association
Hyde Park Branch
1525 East 53rd Street Chicago IL
The First National Bank and Trust Company
Rockton Branch
300 East Main Street Rockton IL
First Community Bank and Trust
First Community Bank And Trust Branch
1111 Dixie Highway Beecher IL
Resource Bank, National Association
Resource Bank, National Association Branch
555 Bethany Road Dekalb IL
CBI Bank & Trust
Buffalo Prairie Branch
20228 183rd Ave West Buffalo Prairie IL
Goodfield State Bank
Goodfield State Bank Branch
201 South Eureka Street Goodfield IL
First Security Bank
First Security Bank Branch
101 East Fast Street Mackinaw IL
Foresight Bank
German-American State Bank Branch
100 Church Street German Valley IL
Marseilles Bank
Marseilles Bank Branch
101 East Bluff Street Marseilles IL
Farmers State Bank & Trust Co.
Farmers State Bank & Trust Co. Branch
129 West Main Mount Sterling IL
North Shore Trust and Savings
North Shore Trust And Savings Branch
700 S Lewis Ave Waukegan IL
National Bank of St. Anne
National Bank Of St. Anne Branch
158 West Station Street St. Anne IL
State Bank of Nauvoo
State Bank Of Nauvoo Branch
1205 Mulholland Street Nauvoo IL
Mason City National Bank
Mason City National Bank Branch
104 West Pine Street Mason City IL
Du Quoin State Bank
Du Quoin State Bank Branch
15 East Main Street Du Quoin IL
Citizens Bank of Chatsworth
Citizens Bank Of Chatsworth Branch
502 East Locust Street Chatsworth IL
Cornerstone National Bank & Trust Company
Cornerstone National Bank & Trust Co Branch
One West Northwest Highway Palatine IL
Forest Park National Bank and Trust Company
Forest Park National Bank And Trust Branch
7348 West Madison Street Forest Park IL
Hoyne Savings Bank
Harlem Avenue Branch
11139 South Harlem Avenue Worth IL
Peru Federal Savings Bank
Peru Federal Savings Bank Branch
1730 Fourth Street Peru IL
Northbrook Bank and Trust Company, National Association
Northview Main Branch
245 Waukegan Road Northfield IL
Old Plank Trail Community Bank, National Association
First National Bank Of Illinois Bran Branch
3256 Ridge Road Lansing IL
First Eagle Bank
First Eagle Bank Branch
1201 West Madison Street Chicago IL
American Metro Bank
American Metro Bank Branch
4878 North Broadway Chicago IL
First State Bank of Forrest
First State Bank Of Forrest Branch
133 East Krack Street Forrest IL
Iroquois Federal Savings and Loan Association
Iroquois Federal Savings And Loan As Branch
201 E Cherry St Watseka IL
The Bradford National Bank of Greenville
The Bradford National Bank Of Greenv Branch
100 East College Avenue Greenville IL
Prospect Bank
Gilman Branch
209 South Crescent Street Gilman IL
First American Bank
First American Bank Branch
700 Busse Road Elk Grove Village IL
Itasca Bank & Trust Co.
Itasca Bank & Trust Co. Branch
308 W. Irving Park Road Itasca IL
Milledgeville State Bank
Milledgeville State Bank Branch
451 North Main Street Milledgeville IL
United Trust Bank
United Trust Bank Branch
12330 South Harlem Avenue Palos Heights IL
Prospect Bank
Gilman Branch
209 South Crescent Street Gilman IL
Bank of Farmington
Bank Of Farmington Branch
16 North Main Street Farmington IL
Stillman BancCorp N.A.
Stillman Banccorp N.A. Branch
101 East Main Street Stillman Valley IL
CIBC Bank USA
Mount Greenwood Branch
3052 West 111th Street Chicago IL
Frederick Community Bank, The
Cissna Park State Bank Branch
102 South Second Street Cissna Park IL
Forest Park National Bank and Trust Company
Forest Park National Bank And Trust Branch
7348 West Madison Street Forest Park IL
Itasca Bank & Trust Co.
Itasca Bank & Trust Co. Branch
308 W. Irving Park Road Itasca IL
First National Bank & Trust Company
First National Bank & Trust Company Branch
2 Kelli Court Clinton IL
Crystal Lake Bank and Trust Company, National Association
Crystal Lake Bank And Trust Company, National Association Branch
70 North Williams Street Crystal Lake IL
Wintrust Bank, National Association
River North Branch
431 North Clark Street Chicago IL
American Metro Bank
American Metro Bank Branch
4878 North Broadway Chicago IL
Mutual Federal Bank
Mutual Federal Bank Branch
2212 West Cermak Road Chicago IL
First National Bank & Trust Company
First National Bank & Trust Company Branch
2 Kelli Court Clinton IL
Providence Bank & Trust
Orland Park Office Branch
16250 South Lagrange Rd Orland Park IL
Resource Bank, National Association
Resource Bank, National Association Branch
555 Bethany Road Dekalb IL
Quad City Bank and Trust Company
Illinois Branch
3551 7th Street Moline IL
Community Bank
Community Bank Branch
233 Carver Street Winslow IL
Farmers State Bank
Hull Branch
Walnut Street And Highway 36 Hull IL
First Federal Savings Bank
First Federal Savings Bank Branch
633 La Salle St Ottawa IL
Barrington Bank & Trust Company, National Association
Hanover Park Branch
6800 Barrington Road Hanover Park IL
Home State Bank, National Association
Home State Bank, National Association Branch
40 Grant Street Crystal Lake IL
First Trust Bank of Illinois
First Trust Bank Of Illinois Branch
275 East Court Street Kankakee IL
Sterling Federal Bank, F.S.B.
Sterling Federal Bank, F.S.b. Branch
110 E 4th St Sterling IL
Armed Forces Bank, National Association
Great Lakes Branch
26 Farragut Avenue Great Lakes IL
Lake Forest Bank & Trust Company, National Association
Lake Forest Bank & Trust Company, National Association Branch
727 North Bank Lane Lake Forest IL
Municipal Trust and Savings Bank
Momence Branch
228 North Dixie Highway Momence IL
Citizens State Bank of Milford
Citizens State Bank Of Milford Branch
36 East Jones Street Milford IL
Prospect Bank
Gilman Branch
209 South Crescent Street Gilman IL
Federated Bank
Federated Bank Branch
107 North Chestnut Onarga IL
Parkway Bank and Trust Company
Parkway Bank And Trust Company Branch
4800 North Harlem Avenue Harwood Heights IL
Hanmi Bank
Harvey Branch
16540 South Halsted Street Harvey IL
Crystal Lake Bank and Trust Company, National Association
Crystal Lake Bank And Trust Company, National Association Branch
70 North Williams Street Crystal Lake IL
Rushville State Bank
Rushville State Bank Branch
Liberty And Lafayette Streets Rushville IL
CIBC Bank USA
Mount Greenwood Branch
3052 West 111th Street Chicago IL
Wintrust Bank, National Association
River North Branch
431 North Clark Street Chicago IL
GN Bank
Illinois-Service Federal Savings And Branch
4619 S Martin L King Drive Chicago IL
Hickory Point Bank and Trust
Hickory Point Bank And Trust Branch
225 North Water Street Decatur IL
Prospect Bank
Gilman Branch
209 South Crescent Street Gilman IL
BankFinancial, National Association
Downers Grove National Bank Branch
6301 Fairview Avenue Westmont IL
The First State Bank of Dongola
The First State Bank Of Dongola Branch
108 Se Front St Dongola IL
State Bank of the Lakes, National Association
State Bank Of The Lakes Branch
440 Lake Street Antioch IL
Citizens State Bank of Milford
Citizens State Bank Of Milford Branch
36 East Jones Street Milford IL
First Merchants Bank
Flossmoor Branch
3301 Vollmer Road Flossmoor IL
Hanmi Bank
Harvey Branch
16540 South Halsted Street Harvey IL
Collinsville Building and Loan Association
Collinsville Building And Loan Assoc Branch
701 Belt Line Road Collinsville IL
Carrollton Bank
Carrollton Bank Branch
315 West Public Square Carrollton IL
Peoples Bank & Trust
Morrisonville Branch
409 Carlin Street Morrisonville IL
Holcomb Bank
Holcomb Bank Branch
108 W Main Street Holcomb IL
State Bank of the Lakes, National Association
State Bank Of The Lakes Branch
440 Lake Street Antioch IL
Union National Bank and Trust Company of Elgin
Union National Bank And Trust Compan Branch
101 East Chicago Street Elgin IL
Foresight Bank
German-American State Bank Branch
100 Church Street German Valley IL
First Merchants Bank
Flossmoor Branch
3301 Vollmer Road Flossmoor IL
Hinsdale Bank & Trust Company, National Association
150 East Butterfield Rd Br Branch
150 Butterfield Road Elmhurst IL
The Huntington National Bank
Union Depot Branch
17622 Depot Street Union IL
First Bank
Breese Branch
550 North Second Street Breese IL
The First Trust and Savings Bank of Watseka, Illinois
Clifton Branch
145 East Fifth Avenue Clifton IL
Central Federal Savings and Loan Association
Central Federal Savings And Loan Ass Branch
5953 W Cermak Road Cicero IL
First National Bank of Brookfield
First National Bank Of Brookfield Branch
9136 Washington Avenue Brookfield IL
FNBC Bank & Trust
Mokena Branch
11100 Front Street Mokena IL
North Shore Bank
Illinois State Bank/Branch
1301 Pyott Road Lake In The Hills IL
Barrington Bank & Trust Company, National Association
Hanover Park Branch
6800 Barrington Road Hanover Park IL
Libertyville Bank & Trust Company, National Association
Libertyville Bank & Trust Company Branch
507 North Milwaukee Avenue Libertyville IL
First Financial Bank, National Association
Marshall, Il Branch
215 North Michigan Avenue Marshall IL
Wheaton Bank & Trust, National Association
Wheaton Bank & Trust Branch
100 N Wheaton Avenue Wheaton IL
Legence Bank
Mounds Branch
100 South Oak Mounds IL
Old National Bank
Danville Branch
2 West Main Street Danville IL
CIBM Bank
Cibm Bank Branch
2913 West Kirby Avenue Champaign IL
SmartBiz Bank, National Association
Centrust Bank, National Association Branch
385 Waukegan Road Northbrook IL
Cathay Bank
Chicago -chinatown Branch
222 West Cermak Road Chicago IL
Schaumburg Bank & Trust Company, National Association
1051 Perimeter Drive Branch
1051 Perimeter Drive Suite 600 Schaumburg IL
Marquette Bank
Marquette Bank Branch
6316 South Western Avenue Chicago IL
The Lemont National Bank
The Lemont National Bank Branch
1201 State Street Lemont IL
U.S. Bank National Association
Skokie- Dempster Branch
3300 West Dempster Street Skokie IL
First Farmers Bank & Trust Co.
Chrisman Branch
147 West Monroe Avenue Chrisman IL
Bank of Hope
Devon Branch
4001 West Devon Avenue Chicago IL
Commerce Bank
Commerce Bank Branch
120 N Center St Bloomington IL
Village Bank and Trust, National Association
Midtown Banking Center Branch
311 South Arlington Heights Road Arlington Heights IL
Amalgamated Bank of Chicago
Amalgamated Bank Of Chicago Branch
30 North Lasalle Street Chicago IL
Banterra Bank
Metropolis - 3200 Branch
521 Ferry Street Metropolis IL
Liberty Bank for Savings
Liberty Bank For Savings Branch
2392 N Milwaukee Avenue Chicago IL
U.S. Bank National Association
Skokie- Dempster Branch
3300 West Dempster Street Skokie IL
First Farmers Bank & Trust Co.
Chrisman Branch
147 West Monroe Avenue Chrisman IL
Regions Bank
Decatur Main Branch
350 North Water St Decatur IL
PNC Bank, National Association
Dekalb Branch
145 North Fourth Street De Kalb IL
Bank of America, National Association
135 South Lasalle Branch
135 South La Salle St Ste Ll 18 Chicago IL
Regions Bank
Decatur Main Branch
350 North Water St Decatur IL
Associated Bank, National Association
Richmond Branch
10910 Main Street Richmond IL
First National Bank of Pana
First National Bank Of Pana Branch
306 South Locust Street Pana IL


BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

Five Year CDs - Branch Banks 2025

Five-year CDs are the big kahuna of the CD world. While banks may offer six-year, seven-year, or even 10-year CDs, the five-year is the longest of the most commonly offered terms. The 5-year CD is therefore often the highest offer at your local bank. Therefore, the temptation for those looking for yield is to open one, deposit money, and forget about it for five years. This could be a mistake. In rising rate environments a five-year CD may not be a good investment.

Safety

Like every other CD term, five year CDs from FDIC insured banks are protected up to FDIC limits (generally $250,000 per account holder per bank). If your deposit is over the FDIC limit then you may not receive the uninsured money in case of a bank failure.

Inflation

The principle threat to a a five year CD is inflation. If the CD is opened in a low rate environment, and rates and inflation subsequently rise, then inflation will erode the value of the certificate of deposit over its five years. For example, if a depositor opened a five year CD in year 1 with a yield of 2.05% APY and inflation at 1.5%, then the real return is .55 percentage points. But if inflation rises the next year to 2.5% and stays there for the next four years, then the CD in real terms is losing money every year: 2.05% - 2.5% = -.45%.

While it is impossible for anyone to predict too far into the future, savers should be cognizant of the economic environment before locking up money for a five year time-period. Our rate analysis page provides some insight into where we think rates will go.

On the other hand, if rates are falling and will continue to do so for some time due to an economic recession then it makes sense to lock in a higher rate with a five year CD. Savers who opened five year CDs in 2008 immediately after the financial crisis were able to lock in rates in the 6% range, a great move considering two years later a five year CD paid below 3%.

Interest

Five-year CDs currently pay about 1.00% more in interest than a one year CD. In general, CDs of this duration are best opened as part of a laddered CD portfolio or if the depositor thinks that rates will either stagnate or drop over the next couple of years.

Opening a Five Year CD

Opening a five year CD in a branch is relatively easy and similar to every other CD term. Most banks require the customer be a resident of the United States and most branch-based banks ask that the account be opened in the bank. Funding can be performed by transferring money that is already located at that bank or by check or ACH transfer from another bank. The CD can be opened that day and the rate locked.

With longer term CDs, savers should make sure they put a record of the CD in a safe place and that if they move, they forward their new address to the bank. In cases where the bank cannot find the CD holder, the bank may hand the funds over to a state authority as a lost deposit, and it will require onerous paperwork to reclaim the money.

ADVANTAGES AND DISADVANTAGES OF FIVE YEAR CDs

Advantages of five year CDs

  • 5 year CDs provide the highest rate of the common CD terms.
  • The return is fixed for five years, which is an advantage in a flat or falling rate environment.

Disadvantages of five year CDs

  • The money is locked away for five years and cannot be withdrawn without a substantial penalty.
  • In a rising rate environment, inflation will reduce the value of the money in the CD over time.
  • Branch CDs require the saver to visit a branch and be subjected to cross-sell pitches and other marketing tactics.

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.

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