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CD Early Withdrawal Survey: Chicago

CD Rates » CD Penalty Chart » Chicago

Bankrate.com's 2015 CD Early Withdrawal Penalty Survey collected data in Chicago and other cities for 5 of the most common CD maturities being sold today. This chart gives you an easy way to compare CD offerings by institution, metropolitan area and maturity using the survey data we collected in October of this year.

Compare Chicago CD rates

Chicago

TermInstitutionMinimum depositYieldPenalty for early withdrawalReduction in principal if accrued and unpaid interest is less than the penalty?Grace period on automatically renewable CDsAre early withdrawal penalties the same for retirement CDs?
3-monthBankFinancial$1,0000.25%Loss of 7 days' interest if within 6 days of initial deposit; 100% loss of interest after 6 daysYes7 daysYes
3-monthBank of America$1,0000.03%90 days' interest on the amount withdrawnYes7 daysNot offered
3-monthBMO Harris Bank$1,0000.05%90 days' interestYes10 daysYes
3-monthChase Bank$1,0000.01%1% of amount withdrawn but not more than total interest earned during current term of CDNo10 daysYes
3-monthCitibank$5000.05%90 days' interest on the amount withdrawnYes7 daysYes
3-monthThe Northern Trust Co.$25,0000.03%90 days' interest on the amount withdrawnYes10 daysYes
6-monthBankFinancial$1,0000.3%3 months' interestYes7 daysYes
6-monthBank of America$1,0000.03%90 days' interest on the amount withdrawnYes7 daysYes
6-monthBMO Harris Bank$1,0000.05%90 days' interestYes10 daysYes
6-monthChase Bank$1,0000.01%1% of amount withdrawn but not more than total interest earned during current term of CDNo10 daysYes
6-monthCitibank$5000.07%90 days' interest on amount withdrawnYes7 daysYes
6-monthCommunity Savings Bank$2,5000.2%Greater of all interest earned to date or 30 days' interestYes7 daysNot offered
6-monthLiberty Bank for Savings$5,0000.1%6 months' interestYes7 daysNot offered
6-monthLisle Savings Bank$2,0000.3%91 days' interestYes10 daysYes
6-monthThe Northern Trust Co.$25,0000.03%90 days' interest on the amount withdrawnYes10 daysYes
1-yearBankFinancial$1,0000.5%3 months' interestYes7 daysYes
1-yearBank of America$1,0000.05%180 days' interest on the amount withdrawnYes7 daysYes
1-yearBMO Harris Bank$1,0000.1%180 days' interestYes10 daysYes
1-yearChase Bank$1,0000.01%1% of amount withdrawn but not more than total interest earned during current term of CDNo10 daysYes
1-yearCitibank$5000.15%180 days' interest on amount withdrawnYes7 daysYes
1-yearCommunity Savings Bank$10,0000.3%All interest earned on amount withdrawnNo7 daysNot offered
1-yearLiberty Bank for Savings$5,0000.3%12 months' interestYes7 daysYes
1-yearLisle Savings Bank$2,0000.5%91 days' interestYes10 daysYes
1-yearThe Northern Trust Co.$25,0000.05%180 days' interest on the amount withdrawnYes10 daysYes
2-yearBankFinancial$1,0000.85%6 months' interestYes7 daysYes
2-yearBank of America$1,0000.1%180 days' interest on the amount withdrawnYes7 daysYes
2-yearBMO Harris Bank$1,0000.25%180 days' interestYes10 daysYes
2-yearChase Bank$1,0000.05%2% of amount withdrawn but not more than total interest earned during current term of CDNo10 daysYes
2-yearCitibank$5000.25%180 days' interest on the amount withdrawnYes7 daysYes
2-yearLiberty Bank for Savings$5,0000.45%12 months' interestYes7 daysNot offered
2-yearLisle Savings Bank$2,0000.7%180 days' interestYes10 daysNot offered
2-yearThe Northern Trust Co.$25,0000.2%270 days' interest on the amount withdrawnYes10 daysYes
5-yearBankFinancial$1,0001.75%12 months' interestYes7 daysYes
5-yearBank of America$1,0000.15%365 days' interest on the amount withdrawnYes7 daysYes
5-yearBMO Harris Bank$1,0000.7%180 days' interestYes10 daysYes
5-yearChase Bank$1,0000.25%2% of amount withdrawn but not more than total interest earned during current term of CDNo10 daysYes
5-yearCitibank$5000.5%180 days' interest on the amount withdrawnYes7 daysYes
5-yearCommunity Savings Bank$5001.4%180 days' interestYes7 daysNot offered
5-yearFirst Savings Bank of Hegewisch$1,0001.5%365 days' interest on the amount withdrawnYes7 daysNot offered
5-yearLiberty Bank for Savings$5,0001%12 months' interestYes7 daysYes
5-yearThe Northern Trust Co.$25,0000.5%270 days' interest on the amount withdrawnYes10 daysYes

Bankrate.com's CD Early Withdrawal Penalty Survey studied 100 banks and thrifts from the top 10 metropolitan markets Oct. 1-13, 2015. Included were the top 5 banks and the top 5 thrifts by deposit size in each market. The top 5 credit unions from across the country by assets also were surveyed. In some instances, the institution did not offer all maturity periods.

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