- 3-month CD: 1.41% APY
- 6-month CD: 1.51% APY
- 1-year CD: 1.77% APY
- 2-year CD: 2.02% APY
- 3-year CD: 2.18% APY
- 4-year CD: 2.38% APY
- 5-year CD: 2.79% APY
These certificates all have $1000 minimums. However, on CDs 2 years or longer, if you increase to a $50,000 minimum, you get at 0.10% bump in the CD rates. SUMA (Yonkers) FCU also has a very competitive money market, which earns 1.11% APY on amounts up to $50,000 and 1.31% APY on deposits $50,000 and up.
SUMA (Yonkers) FCU has five locations, including two in Connecticut: 555 George St. in New Haven and 39 Clovelly Rd. in Stamford. Unfortunately, SUMA (Yonkers) Federal Credit Union does not list their field of membership on their website, but they seem to be associated with the Ukrainian-American community.
Start Community Bank has a very competitive short-term CD available: a 13-month CD that’s yielding 1.67% APY. This CD has a minimum deposit of $500 and is also available as an IRA CD. Start Community also has a promo rate on their “Fast Start Savings” account: also 1.67% APY. This account has only a $20 minimum to earn interest, and the promo rate is guaranteed through June 30th of this year. That said, their normal savings account is only yielding at best 0.30%, so expect that rate to drop dramatically on July 1st.
Start Community Bank has two branches, both in New Haven: 258 Grand Ave. and 299 Whalley Ave.
Union Savings Bank has a competitive long-term CD available: Their 5-year CD is yielding 2.75% APY. The CD has a minimum required deposit of $1000. While this rate is relatively high, Union Savings Bank’s CD rates drop precipitously after that; their 4-year CD, for example, is only returning 1.50% APY. On the plus side, if you open a checking with rewards account with them, they’ll give you a 0.25% rate bump on any of their CDs.
Union Savings Bank is a large Connecticut-based bank, with five branches in Danbury; three branches in New Milford; two branches each in Bethel, Brookfield, Newtown, and Torrington; and one branch each in Bridgewater, Canton, Goshen, Kent, Litchfield, Marble Dale, New Fairfield, Ridgefield, Roxbury, Sharon, Southbury, and Washington Depot.
CSE (Connecticut State Employees) Credit Union has a number of competitive short term CDs available. Their 3-month and 6-month CDs are yielding 1.11% APY, and their 1-year CDs are returning 1.16% APY. The certificates have a minimum deposit of $500. Those CDs aren’t available as IRA CDs, but CSE Credit Union does have an 18-month IRA CD returning 1.31% APY and a 3-year CD that yields 1.66% APY, both with a $500 minimum.
CSE Credit Union is primarily open to employees of the State of Connecticut. CSE CU has seven locations, all in Connecticut: one branch each in Hartford, Middletown, Norwich, Newington, Southbury, Storrs, and Woodbridge.
CorePlus Credit Union has a very competitive rate on a their 3-year “Scorecard Rewards” certificate: 2.65% APY. This CD has a minimum deposit of $10,000. Unfortunately, the CorePlus website gives very little information on what else is necessary to open a “Scorecard Rewards” CD; there is a link to this website, but it doesn’t seem to have an pertinent information either. That said, if you’re considering a high-rate 3-year CD, it may be worth giving them a call.
CorePlus Credit Union is open to anyone who lives, works, worships, or attends school in New London County or Windham County, as well as people who live in the town of Hebron. CorePlus CU has seven branches: three in Norwich and one each in East Lyme, Groton, Plainfield, and Waterford.
MassMutual Credit Union has a number of competitive mid-term and long-term CDs. Their 3-year CD is yielding 2.20% APY, their 4-year CD is returning 2.45% APY, and their 5-year CD is returning 2.80% APY. These CDs require a minimum deposit of $50,000, but the CDs are also available with a $500 minimum deposit with only a 0.10% APY drop.
- 36-month and 42-month CDs: 2.00% APY
- 48-month and 54-month CDs: 2.10% APY
- 5-year CD: 2.30% APY
These CDs all have a minimum deposit requirement of $500. Shorter-term CDs from Farmington Savings aren’t as competitive: Their 1-year CDs, for example, are 0.70% APY. All of Farmington’s CDs longer than 1 year have a penalty of 6 months of interest if the CD is closed early.
Unfortunately, Farmington Savings Bank’s branch locator is down right now, so I can’t list the Connecticut cities their branches are in, but you can try their branch locator later by clicking here.
Savings Institute Bank & Trust has a nice long-term CD available: Their 5-year CD is yielding 2.50% APY. The CD has a minimum deposit of $500, and the same rate is also available on a 6-year CD if you want to lock in your rate longer. Savings Institute Bank also has a 35-month CD available that’s yielding 2.08% if you’re a Choice Alliance or e.SI Checking customer and 1.85% if you’re not. That also has a $500 minimum deposit.
Savings Institute Bank & Trust has 21 locations, all in Connecticut: two in Willimantic, and one each in Brooklyn, Canterbury, Colchester, Dayville, East Hampton, East Lyme, Enfield, Groton, Hebron, Lebanon, Lisbon, Mansfield, Moosup, Mystic, New London, North Windham, Norwich, South Windsor, and Tolland.
Capital One Bank has a few competitive rates available: Their 2-year CD is yielding 2.25%, their 3-year and 4-year CDs are yielding 2.50% APY, and their 5-year CD is yielding 3.00% APY. These CDs have a minimum of $5000.
Capital One Bank has over 700 branches, although only one in Connecticut: 45 S. Main St. in Branford.
- 20-month CD: 2.40% APY
- 36-month CD: 3.40% APY
- 48-month CD: 3.40% APY
These CDs all have a minimum deposit of $1000 to open.
New Alliance Bank has over 50 locations throughout Connecticut; you can find one near you here.