Connecticut Community Bank offers a variety of CD rates with different timeframes and interest rates to help you grow your savings. Whether you’re looking for a short-term commitment or a longer investment, they provide options with competitive rates. Let’s explore how these CDs can be a smart choice for your savings goals.

Connecticut Community Bank CD Rates Offers

The most popular CD rate options by Connecticut Community Bank are as follows;

12 Month CD

Key Features

  • Minimum Opening Deposit: $500.00
  • Minimum Balance for Annual Percentage Yield (APY): $500.00
  • Annual Percentage Yield (APY): 3.75%
  • Interest Rate: 3.68%


This is a short-term CD with a duration of 12 months. It requires an initial deposit of $500.00, and the interest rates are competitive, making it a suitable option for those looking for a relatively quick return on their investment.

Pros & Cons

Competitive APY of 3.75%Relatively short-term commitment

18 Month CD

Key Features

  • Minimum Opening Deposit: $500.00
  • Minimum Balance for APY: $500.00
  • APY: 0.30%
  • Interest Rate: 0.29%


The 18 Month CD has a lower APY compared to shorter-term options. Individuals opting for this CD should be aware that the interest rate is relatively modest, making it important to assess whether the longer term aligns with their financial goals.

Pros & Cons

Moderate minimum deposit ($500)Early withdrawal penalties apply
Relatively longer commitment than short-term

36 Month CD

Key Features

  • Minimum Opening Deposit: $500.00
  • Minimum Balance for APY: $500.00
  • APY: 0.50%
  • Interest Rate: 0.49%


The 36 Month CD offers a slightly higher interest rate than the 18 Month CD, but individuals should carefully consider the extended commitment before opting for this longer-term option.

Pros & Cons

Moderate minimum deposit ($500)Low APY of 0.50%
Extended commitment compared to shorter terms

60 Month CD

Key Features

  • Minimum Opening Deposit: $2,500.00
  • Minimum Balance for APY: $2,500.00
  • APY: 0.60%
  • Interest Rate: 0.59%


This is a long-term CD with a duration of 60 months. The higher minimum deposit and longer commitment may be suitable for individuals with a more extended investment horizon, and the interest rates, while higher than shorter-term CDs, are still relatively conservative.

Pros & Cons

Higher APY of 0.60%Long-term commitment with 60-month duration
Higher minimum deposit

Are Connecticut Community Bank CD Rates Competitive?

The Annual Percentage Yields for Connecticut Community Bank CDs ranged from 0.30% to 4.15%. Whether these rates are considered competitive depends on the current market conditions and how they compare to rates offered by other financial institutions.

The general assessment stance is provided next;

  1. Competitive Rates – The 15-month CD and the Bump Up 20 Month CD, with APYs of 4.00% and 4.15% respectively, appear to be competitive, especially if these rates are higher than those offered by other institutions for similar terms.
  2. Moderate Rates – The 12-month CD, with an APY of 3.75%, is moderately competitive, depending on prevailing market rates.
  3. Less Competitive Rates – The 18-month CD, 24-month CD, 36-month CD, and 60-month CD, with APYs ranging from 0.30% to 0.60%, may be considered less competitive compared to some other institutions, especially for longer-term CDs.

Furthermore, the competitiveness of CD rates can vary, and it is required to compare these rates with those offered by other banks and credit unions. Additionally, consider other factors such as minimum deposit requirements, terms, and any special features (like the bump-up option) when assessing the overall value of the CDs.

Overview Connecticut Community 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 at competitive rates. They are dedicated to customer service, and giving back, and they take good care of their employees. Connecticut Community Bank is chartered by the federal government and insured by its 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.


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.

Locations Connecticut Community Bank 

Connecticut Community Bank, Savings Bank of Danbury, First County Bank, Thomaston Savings Bank, Santander Bank, The First Bank of Greenwich, Centreville Bank.

Frequently Asked Questions

What is the minimum deposit required to open a CD with Connecticut Community Bank?

The minimum deposit required to open a CD with Connecticut Community Bank is $500.00.

Are there penalties for early withdrawal from a Connecticut Community Bank CD?

Yes, penalties may be imposed for early withdrawals from our CD accounts. It’s important to carefully consider your investment timeline to avoid incurring these penalties.

How often are CD interest rates at Connecticut Community Bank updated?

CD interest rates are subject to change based on market finance conditions.

Do Connecticut Community Bank CDs offer a grace period for renewal or withdrawal?

Yes, our CDs typically have a grace period allowing account holders to decide on renewal or withdrawal options without incurring penalties. Whereas, the specific duration of the grace period may vary.

Are the CD rates at Connecticut Community Bank the same for all branches?

Generally, CD rates are consistent across all Connecticut Community Bank branches. However, there might be variations or special promotions at specific branches.