Even certificates of deposit are proving susceptible to Chicago Bulls mania as the team pushes for its fourth National Basketball Association championship in six years.
Oxford Bank, with $200 million in assets and two branches in the Chicago suburb of Addison, is offering a CD whose bonus rate will double during June if the Bulls beat the Seattle SuperSonics.
To qualify, customers have to deposit a minimum of $1,000 in the 20- month-term CD before the final game of the series.
If the Bulls sweep the Sonics as they did the Orlando Magic in the Eastern Conference championship series, the CD offer could end as early as Wednesday.
The bonus rate will double to 10.8% from 5.4% for the month of June, if the Bulls win. Its annual percentage yield would be 5.79%.
Oxford's promotion began on May 20 and attracted $110,000 on the first day, said Kevin B. Tynan, a marketing consultant to the bank. Over the course of the playoffs, the bank hopes to draw a "couple of million" in CD assets with the promotion, he said.