Consumers in Chicago can take advantage of the highest cd rates being offered by the South Central Bank . This special certificate of deposit deals are only available to new customers who live within a market area covered by one of their branches. The top cd rates are not listed on the bank’s website but we got the information from an email. We called the bank for additional information and we were give the following cd rates:

2.90% APY 9-month CD, $22K maximum deposit
3.00% APY 7-month CD, $12K maximum deposit
3.40% APY 5-month CD, $5K maximum deposit
3.00% APY 4-month CD, $30K maximum deposit
3.05% APY 3-month CD, $25K maximum deposit

The customer service representative is not so sure up to when these certificate of deposit deals will last so it will be wise to check with them first before signing up for anything.

The ceilings imposed on the CDs are on a per household basis. New customers are only limited to pick one of these cd specials to open. One plus note on this offer is that consumers are not required to open a checking account.

Interested consumers can open an account by visiting the branch nearest you. Only local customers are accepted by a branch so in case you don’t live close to one of their branches, you should call to check with regard to your eligibility. South Central Bank has five branches serving Chicago.

South Central Bank gets 3 stars from Bankrate.com when they reviewed its performance. BauerFinancial issued 4 stars for the bank’s soundness and safety. Both ratings were based on their June 2009 data.

The bank is insured with the FDIC through certificate number 19536.