Chicago Savings Account Rates

Current savings account rates in Chicago are dismal and expected to be so for the rest of 2011. World economic problems and weak economies are keeping interest rates low. The Fed funds rate is in a targeted range of 0% to 1/4% for about two years now.

Compare the highest savings account rates in your state by using our interest rate tables at SavingsAccount.MonitorBankRates.com. Both national banks and local banks with the best rates will be listed.




Since savings rates are so low, finding the best savings rate is even more imperative. Right now on our savings account rate list in Chicago, Illinois, American Express Bank and Sallie Mae Bank have the highest unrestricted savings rate. Both banks are offering rates at 1.14% with a savings yield of 1.15%.

We do have two banks on our rate list for Chicago, IL, offering better savings rates but you must have a checking account to earn the rate and yield. Tennessee Commerce Bank is offering savings rates at 1.49% with a yield of 1.50% and Salem Five Direct is offering rates at 1.24% with a yield of 1.25%.

Flagstar Direct comes in with the fourth best rate on our Chicago list. The online banking arm of Flagstar Bank is offering savings interest rates at 1.10% with an APY of 1.11%.

Savings Account Rates in Chicago




  • Tennessee Commerce Bank 1.49% Yield 1.50% Min $250 Must have a checking account with TCB.


  • Salem Five Direct 1.24% Yield 1.25% Min $ 1 Must have a checking account with SFD.


  • American Express Bank FSB 1.14% Yield 1.15% Min $ 0


  • Discover Bank 1.14% Yield 1.15% Min $500


  • Sallie Mae 1.14% Yield 1.15% Min $ 1


  • Flagstar Bank 1.10% Yield 1.11% Min $ 1


  • Nationwide Bank 1.04% Yield 1.05% Min $10000


  • EverBank 1.01% Yield 1.01% Min $ 1


  • Zions Bank 1.01% Yield 1.01% Min $1000


  • WTDirect 1.01% Yield 1.01% Min $10000


  • FNBO DIRECT 1.00% Yield 1.00% Min $ 1


  • ING DIRECT 1.00% Yield 1.00% Min $ 1


  • First Internet Bank of IN 1.00% Yield 1.00% Min $100


  • Ally Bank 1.00% Yield 1.00% Min $ 1


  • AIG Bank 1.00% Yield 1.00% Min $10000


  • OneUnited Bank 0.90%% Yield 0.90% Min $1000 Available to


  • Internet customers only.


  • Giantbank.com 0.85% Yield 0.85% Min $1000


  • National City of the Midwest 0.85% Yield 0.85% Min $ 1


  • Bank of Internet USA 0.80% Yield 0.80% Min $100


  • EmigrantDirect.com 0.80% Yield 0.80% Min $ 1


  • HSBC Advance 0.80% Yield 0.80% Min $ 1


  • Capital One Direct Banking 0.875% Yield 0.75% Min $10000


  • Allstate Bank 0.70% Yield 0.70% Min $100


  • Ameriprise Bank FSB 0.60% Yield 0.60% Min $10000 Must be a Achiever Circle Elite member to receive higher rate.


  • E-LOAN.com 0.50% Yield 0.50% Min $10000¬†Must make monthly deposits of at least $100 to qualify for rate. If monthly deposits not met, standard savings rates apply.


  • E*TRADE Bank 0.30% Yield 0.30% Min $ 1


  • Bank of America¬†0.30% Yield 0.30% Min $10000 Must have an automatic transfer of $250 or more from your Bank of America account, an automatic transfer of the monthly interest payment from your Bank of America CD or a direct deposit of $250 or more to earn the bonus rate.


  • Central Illinois Bank 0.30% Yield 0.30% Min $10000


  • PenFed 0.25% Yield 0.25% Min $10000


  • Chase 0.2%% Yield 0.25% Min $10000 Must have a Chase Premier Platinum or Chase Premier Checking account


Find the best savings rates in your state at MonitorBankRates.com.

 
Author: Lisa Graham
May 23rd, 2011
Posted in: Savings Accounts