West Suburban offers its Illinois customers a variety of banking products, including checking and savings accounts, money market accounts (MMAs) and certificate of deposit (CD) accounts. Its CD account options include its personal and business CDs. The bank additionally operates several branches throughout Illinois and offers competitive long-term interest rates for a wide range of terms.
In addition to CDs, West Suburban’s services also include online and mobile banking. These options allow you to perform basic banking actions like making transfers, viewing accounts and paying bills. So if you’re a resident of Illinois, the bank’s CD rates could earn you great return. However, if you aren’t located near any of its branches, you may want to consider other, similarly competitive options with the best CD rates out there.
To calculate how much interest you could earn with a CD, try using SmartAsset's CD calculator.
West Suburban Personal Certificates
West Suburban’s personal certificates function as the bank’s standard CD accounts. Additionally, for a minimum deposit of $2,500, you can open a CD with a term ranging from six months to 60 months. While the six-month personal CD rates are less competitive, you’ll earn at a greater annual percentage yield (APY) with larger deposits on longer terms. For instance, a six-month CD generates an APY of 0.05%, while you earn at a 0.20% APY with a 36-month term.
| Personal CD | Minimum Deposit | APY | |
| 6 Month | $2,500 | 0.05% | Compare CD Rates |
| 12 Month | $2,500 | 0.10% | Compare CD Rates |
| 18 Month | $2,500 | 0.10% | Compare CD Rates |
| 24 Month | $2,500 | 0.15% | Compare CD Rates |
| 30 Month | $2,500 | 0.15% | Compare CD Rates |
| 36 Month | $2,500 | 0.20% | Compare CD Rates |
| 48 Month | $2,500 | 0.25% | Compare CD Rates |
| 60 Month | $2,500 | 0.40% | Compare CD Rates |
6-Month Personal CD Interest Rate Comparison
Overview of West Suburban CDs
Overall, through West Suburban’s high-yield CDs, you’ll be able to earn great return for almost any CD term. For instance, you’ll earn 0.10% for a 12 month CD. If you open a CD with a term of 5 years, you could earn at a 0.40% APY. However, the bank’s minimum deposit requirement of $2,500 may be too high for some. Therefore, you’ll want to consider whether you’d like to earn at similarly competitive APYs for lower deposit requirements.
If you decide to open a CD with West Suburban, it’s important to remember that you cannot withdraw any funds into your account reaches maturity. For any early withdrawals made on certificates, West Suburban will extract a set amount of interest from the account. For instance, you could lose 90 days of interest for early withdrawal on a term between 90 days and a year. Therefore, it’s safer to wait until your account reaches maturity to pull out funds. Or if you’d like to continue earning interest on a CD, your CD will automatically renew on its maturity date. If you’d like to prevent its renewal, however, you’ll have a 10-day grace period to notify the bank.
How Much You Earn With West Suburban Certificate of Deposits Over Time
As with most banks’ certificates, greater deposits ultimately generate a greater return. In addition, interest compounds daily for West Suburban CDs, so your money will grow at a faster rate. While greater deposits produce more return, longer terms do as well. For instance, a $1,000 deposit for a West Suburban six-month CD will generate $1,000.25. A $1,000 deposit for a 60-month CD, on the other hand, earns you $1,020.16.
| Initial Deposit | 6-Month CD | 12-Month CD | 60-Month CD |
| 1,000 | $1,000.25 | $1,001 | $1,020.16 |
| 2,500 | $2,500.62 | $2,502.50 | $2,550.40 |
| 5,000 | $5,001.25 | $5,005 | $5,100.80 |
| 10,000 | $10,002.50 | $10,010 | $10,201.60 |
Compare West Suburban Bank to Other Competitive Offers
How West Suburban CDs Rates Compare to Other Banks
West Suburban offers competitive rates for its CDs, but you can also find comparable rates at other competitors like Third Federal and Barclays.
Third Federal, for instance, requires a significantly lower minimum deposit ($500) than West Suburban. In addition, its long-term CDs similarly allow you to earn at higher APYs than its short-term accounts do. So if you’re located near any of Third Federal’s physical locations, you could earn at greater rates for a lower minimum deposit.
Discover, though an online-only bank, also offers customers highly competitive rates. However, its minimum deposit may be comparably high and therefore unreasonable for some. But if you don’t mind its $2,500 deposit, you’ll have an extensive range of CD terms and rates at which to earn. Furthermore, you’ll earn at competitive APYs for any term you choose.
| CD Account | West Suburban | Third Federal | Discover | PenFed |
| 6 Month | 0.05% | 0.15% | 0.25% | 0.25% |
| 1 Year | 0.10% | 0.20% | 0.50% | 0.45% |
| 3 Year | 0.20% | 0.30% | 0.55% | 0.55% |
| 5 Year | 0.40% | 0.50% | 0.60% | 0.70% |
Should You Get a West Suburban CD Account
West Suburban ultimately offers great CD rates with a variety of CD terms for its users to select. Because this bank is primarily based in Illinois, it’s easier to open an account if you’re a local resident. While its minimum deposit is noticeably high, West Suburban’s CD rates generally compare well with many of its competitors for all of its terms.
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