South Central Bank invites consumers in Chicago to take advantage of their competitive interest rates for their certificate of deposit. The best cd rates are earned by the following which requires an initial deposit of $10,000:

12 months 1.55% APY
30 months 2.25% APY
36 months 2.65% APY

This bank offered more cd specials with very competitive cd rates on the latter part of last year compared to the few CDs they have now. These certificate of deposit specials though are not often listed on the bank’s website so you may want to check with the bank if they have information with regard to these money in the bank deals. You can contact them through 312-491-7000.

The interest rates that we have here are still posted on their rates page as of April 27. This may change any time so it will be best to get an update about the latest numbers.

You need to visit a branch to open an account. Take note that these CDs are for local customers only. If you don’t live near a branch, you may want to contact them first to confirm if you can benefit from any of their products.

South Central Bank has five branches in the Chicago area.

The ratings of the bank are fair. Bankrate.com issued 3 stars for its performance while BauerFinancial stamped 4 stars to their soundness and safety report. These were based on their September and December 2009 data, respectively.

The bank is a member of the FDIC and covered by certificate number 19536.