Current CD rates in CT range from 0.31% for a 1-year term, up to 0.46% for a 5-year term, $1,000 minimum deposits, bonus APY for jumbo CD’s of $100,000 or more. Top CD’s in the state yield a percentage rate of 1.00% or more.
CT’s Top CD Rates
Connecticut Community Bank has eight CD terms which range in 3-months length up to 60-months. The minimum balance for all terms is $500.00 except the five-year term which has a higher deposit minimum of $2,500 and also pays the highest APY.
The top APY at Connecticut Community Bank is 0.85%. The short term CD’s under a year have an interest rate of 0.10%. The APY per CD goes up between 0.10%-0.85% depending on term length and deposit.
Savings Bank of Danbury has 3-month to 5-years tiers available for their CD’s with a minimum deposit as low as $500. They have premium rates available to members with higher balances. For investors putting over $50,000 into a CD there is a Smart Choice Liquid CD that allows more access to funds with additional deposits and withdrawals penalty free. The liquid CD reaches maturity at 6-months.
The top APY for a CD at the Savings Bank of Danbury is 1.00% for 5-year CD’s with a minimum deposit as low as $500. They also have a “bump-up” CD which has a $1,000 minimum, 0.50% APY, and a 15-month special term.
First County Bank has terms available between 2-months and 5-years. There is a minimum balance of $1,000 per all CD’s. The shortest term CD’s under a year long have an APY of 0.10%. The highest APY offered through this bank is a solid 1.00% for the 48-60 month terms.
The 30-month and 36-month bump rate CD’s have an APY of 0.80%. Other CD specials include 11-month no penalty, one year tax-deferred, 14-month easy-out, and 18-month bump rate.
To get these bank rates you must live, work, worship, or go to school within the communities that they serve. Most banks have a service range for membership. Call each bank to find out if you qualify for an account. Starting a new checking or debit account with the bank will be necessary before you can begin purchasing CD products from them.
Top Banks in Connecticut
Connecticut Community Bank, Savings Bank of Danbury, First County Bank, Thomaston Savings Bank, Santander Bank, The First Bank of Greenwich, Centreville Bank
Connecticut Community Bank has eight branches throughout Fairfield County, CT. Their mission is to help grow the community that they serve by providing affordable, high-quality banking products with competitive rates. They are dedicated to customer service, giving back, and they take good care of their employees. Connecticut Community Bank is chartered by the federal government and insured by their programs.
The Savings Bank of Danbury has five branches in Danbury, CT and nine in the surrounding areas. They were founded in 1849 with the first branch on Main Street in Danbury. Today they are worth $1 billion in assets. One of the ways that they succeed is by hiring hardworking and motivated employees with great customer service skills.