Certificate of Deposit Rates in Connecticut

June 29, 2009 2 Comments »

Below are the top 3 institutions offering the highest rates for certificate of deposits in Connecticut. After researching the top savings rates for this state, I have found only a few rates worth mentioning. In fact, most of the better interest rate options for Connecticut residents come from the large national banks rather than local credit unions and thrifts. Connecticut is one of the US’s most wealthy states (as far as annual salary per person goes) which makes it even more baffling that local banks and credit unions haven’t stepped in to offer these potential customers more enticing rates. If you happen to reside in the state and know of some better deals than the ones listed below please share by leaving a comment.

The rates below come in the form of a 6 month certificates of deposit, 15 month CD, and a 3 year certificate of deposit. All of the bank accounts and rates listed below are available to residents of the state of Connecticut. Keep in mind the fact that these rates are time-sensitive, please refer to date posted at the top.

Top CD rates for Connecticut

(clicking on the institution name below will take you to their rates page)

Hudson City Savings Bank: Serves Connecticut and much of the northeast. Usually this institution has rates that handily beat the national average, however, many of their rates have been drastically slashed recently. Their 6 month CD is your best bet with a current yield of 2.00% APY.

New Alliance Bank: Serves the states of Connecticut and Massachusetts. New Alliance Bank had a peculiar array of certificate of deposit products. They offer odd maturities of 5 month, 10 month and 15 month, rather than conforming to half yearly measures as most institutions do. Their 15 month CD is most likely your best bet, yielding an APY of 2.25%.

Apple Valley Bank and Trust: Serves the state of Connecticut and is based out of Cheshire CT. Apple Valley Bank and Trust offers traditional CD’s as well as IRA CD’s. Your best bet with this institution is with their 3 year CD, currently yielding an APY of 3.00%.

All of the institutions listed above are FDIC insured up to $250,000.

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  • Barry Brown

    Hudson City Savings also serves upstate NY and NJ. The have a 1 yr cd for 2.25%. My son opened one this past Saturday in the branch. Very helpful and friendly employees!!. Worth a look.

  • BankVibe

    Thanks Barry, I’ll check it out!