The American Eagle Bank of Chicago is pushing for their top cd rates currently at 2.75% APY for a 29-month certificate of deposit deal. This account requires a minimum funding of $1000. This special money in the bank deal is listed on the promo page on the website of the bank.

The special CD rates are only being offered to residents of the Metropolitan Statistical Area and the Greater Chicago.

The regular certificates of deposit also offer their best cd rates as follows:

12 months 1.50% APY
24 months 2.00% APY
36 months 2.50% APY
48 months 2.75% APY
60 months 3.00% APY

These current cd rates are not that high but are still very competitive in today’s market. Opening the regular CDs need a funding of at least $1,000 to maintain the APY. They can also be availed of as Educational IRAs for $500 minimum.

The bank charges a month’s worth of interest for early withdrawal from CDs that have maturity of 12 months or shorter while longer CD terms incur 3 months of earnings.

You can also get the regular CDs as Jumbo certificates with a bonus of 10 basis points higher. The website does not detail the funding requirements for their jumbo products so it will be best to contact the bank to find out which of their products interest you most.

The bank has been offering competitive interest rates for its products in the past several months. They also have attractive offerings for their checking account.

American Eagle Bank of Chicago was issued 3 ½ stars by BauerFinancial and 2 stars by Bankrate.com when they reviewed the bank’s safety and soundness using their June 2009 data.

The bank is insured with the FDIC through certificate number 58514.