Best 6 Month CD Interest Rates Chicago, Illinois

CD rates continue to slowly decline and there isn't any positive news to drive CD rates higher for the foreseeable future. In the FOMC's most recent statement on monetary policy released on August 10, 2010, the Fed said "the pace of recovery in output and employment has slowed in recent months".

The Fed also said inflation still isn't a concern: "Measures of underlying inflation have trended lower in recent quarters and, with substantial resource slack continuing to restrain cost pressures and longer-term inflation expectations stable, inflation is likely to be subdued for some time."

The Fed also plans to keep the targeted Fed funds rate between zero percent and one quarter percent for an extended period of time. As long as the economy is in slow motion and Fed funds rate is near zero percent CD rates will be dismal.

The national average 6 month CD rate is 0.61 percent this morning. We have 6 month CD rates higher than the national average 6 month CD rates. We have compiled a list of the best 6 month bank CD rates and credit union CD rates in Chicago, Illinois, by using our CD rate tables.

• Use our CD calculator to calculate your CD investment return.

The best 6 month CD interest rate on our list in Chicago is offered by FlagstarBank. Flagstar Direct's current 6 month bank CD interest rate is 1.24 percent with an annual percentage yield 1.25 percent. That CD interest rate is double the current national average 6 month CD interest rate. The minimum opening certificate of deposit account balance at Flagstar Bank is $500.

Ally Bank has the second best 6 month CD rate on our list of best CD rates in Chicago. Discover Bank’s current 6 month CD rate is 1.13 percent with an APY of 1.14 percent. The minimum opening CD account balance at Discover Bank is $2,500.

Next on our list of the best CD rates in Chicagois GiantBank.com.  The bank's current 6 month CD rate is 1.10 percent with an APY of 1.11 percent. The minimum opening CD account deposit at Giantbank is $2,500.

Best 6 Month CD Rates Chicago, Illinois

• Flagstar Bank 1.25% APY Min $500 
• Ally Bank 1.14% APY Min $ 1 
• Giantbank.com 1.11% APY Min $2500 
• Discover Bank 1.10% APY Min $2500 
• AIG Bank 1.06% APY Min $2500 
• Tennessee Commerce Bank 1.00% APY Min $2500 
• Nationwide Bank 1.00% APY Min $10,000 
• Pentagon Federal Credit Union 0.90% APY Min $1000 
• PenFed 0.90% APY Min $1000 
• BankDirect 0.90% APY Min $10,000 
• EverBank 0.85% APY Min $1500 9 mo
• ING DIRECT 0.75% APY Min $ 1 
• First Internet Bank of IN 0.75% APY Min $1000 
• Bank of Internet USA 0.75% APY Min $1000 
• Ameriprise Bank FSB 0.60% APY Min $10,000 
• E-LOAN.com 0.55% APY Min $10,000 
• American Express Bank FSB 0.50% APY Min $ 0 
• Central Illinois Bank 0.45% APY Min $500 
• Allstate Bank 0.40% APY Min $1000 
• Foster Bank 0.37% APY Min $1000 
• Bank of America 0.35% APY Min $10,000 
• Citibank 0.35% APY Min $10,000

Do you own a personal financial website or real estate website? MonitorBankRates.com offers a free CD rates widget, savings rates widget and mortgage rates widgets you can use to keep your website visitors up to date with the most current interest rates. We also offer a free mortgage calculator you can use to figure out monthly mortgage payments.