Locating the Best 24-Month CD Rates in Schaumburg, IL: March 2011
If you live in Schaumburg, IL and are interested in opening a 2 Year CD account, there are a few factors you’ll need to examine before choosing the best account for you. Things like the minimum balance required and term length of your CD are important, but the interest rate offered is likely your top concern.
Longer term lengths generally yield higher CD rates, which is probably why you’re interested in a 24-month CD. That doesn’t necessarily mean every 2 year CD rate is good, however. Schaumburg Banking Rates can help familiarize you with the rates available in Schaumburg and find the rates that are truly competitive for the area.
Average 2 Year CD Rates in Schaumburg
Since Schaumburg Banking Rates compiles rates information from financial institutions within a 50-mile radius of Schaumburg, there are a lot of numbers to sift through. In fact, there is currently a total of 164 CD accounts with a term length of 2 years to choose from. However, if you know the average 24-month CD rate in Schaumburg, you can weed out low rates.
Today, the highest 24-month CD rate we have on record in Schaumburg is 2.5% APY, while the lowest is 0% APY. The average of these rates and all others available in and around Schaumburg is 1.46% APY.
Now that you know how high the average 2 year CD rate in Schaumburg should be, you can easily determine which offers are good and which ones are too low to really grow your money.
You can also view CD rates for other term lengths, like 6 months or 1 year, by visiting the Schaumburg CD Rates page.
