Browse through the stories below to view current deals for Connecticut banks or select an item from the menu bar above to view current rates in Connecticut.
With school starting soon, it's a good time to review your college savings plan options. And if you say, "What college savings plan?", you may want to consider Citizens Bank's "CollegeSaver Account," as a starting point. The CollegeSaver Account pays a $1K bonus at the end of the deposit term. You will owe taxes on the interest, as the CollegeSaver Account is not a 529, but the funds saved and the $1K bonus do NOT have to be spent on educational costs.
To qualify for the...Continue Reading
Charter Oak Credit Union Bank (Connecticut) is celebrating its 75th anniversary, the opening of its 14th branch, and the opening of its new Headquarters in Waterford, by offering two GO CD Specials: a 17-month GO CD (2.00% APY) and an 8-month GO CD (1.00% APY). These offers are only for new money unless Gold Rewards membership applies. In addition, the GO CDs will not renew and will roll into a Jumbo Money Market Account at maturity.
These promotional rates are automatically...Continue Reading
Update 5/14/2014: These CD specials have ended.
Liberty Bank in Connecticut is offering some good deposit specials. The first is called the "Pick Your Term CD Special", and it offers three competitive rates: 2.50% APY for 5 years, 2.25% APY for 4 years and 2.00% APY for 3 years. Minimum deposit is $1,000, and the maximum is $250,000 with a limit of one account per household. A checking account is required. More details are listed in the bank’s promotions page as of 4/8/2014. One thing not mentioned at that page is...Continue Reading
Northwest Community Bank in Connecticut is offering very competitive rates on two CD specials. One is a 5-year CD with a 2.28% APY, and the other is a 18-month CD with a 1.25% APY. The 5-year CD requires a $1,000 minimum deposit, and the 18-month CD requires $10,000 minimum. These rates are listed in the bank’s deposit rates page as of 2/14/2014.
A branch visit is typically required to open an account. Northwest Community Bank branches are located in several Connecticut towns west and northwest of Hartford.Continue Reading
Xceed Financial Credit Union just came out with a new CD special. It has a 1.50% APY and a 17-month term. Minimum deposit is $500. This special isn’t available in an IRA, but there is a special 14-month IRA CD with a 1.40% APY. Xceed is still offering a special 7-month CD and IRA CD with a 1.00% APY and a special 19-month CD and IRA CD with a 1.25% APY. These special CD rates are listed on the credit union's rates page and in the credit union's news &...Continue Reading
EBSB Direct continues to have a top rate on its money market account. It has a 1.00% APY for balances of $50K to $1 million. For balances between $5K and $50K, the rate is 0.25%. No interest is paid for balances under $5K. New money is required. These rates are listed at the EBSB Direct home page as of 1/9/2014.
When I last reported on EBSB Direct, I was told that they were opening accounts only for residents of Massachusetts. Before that they had accepted customers from New England and New...Continue Reading
In today's interest rate environment, most all short-term CDs have rates under 1%. I found one exception at Xceed Financial Credit Union which has a special 7-month share certificate with a 1.00% APY. It’s also available in an IRA. Minimum deposit is $500. This special CD rate is listed on the credit union's rates page and in the credit union's news & events page as of 11/01/2013.
Xceed has a history of CD specials. I reviewed the last one in 2012.
The credit union has two features that make it convenient for...Continue Reading
HarborOne in Massachusetts just recently changed from a credit union to a bank. When it was a credit union, it had offered several good CD deals. I’m glad to see the deals haven’t stopped now that it’s a bank. HarborOne Bank currently has two good CD deals: a 2.00% APY 4-year CD and a 1.05% APY 7-month CD. Minimum deposit is $1,000 ($500 in an IRA). These rates are listed in the bank’s deposit rates page as of 8/9/2013.
One downside with the 4-year CD is a large early withdrawal penalty....Continue Reading
In today’s interest rate environment, the vast majority of rate changes have been cuts. When there’s a rate hike, it’s noteworthy, and that’s the case at INOVA Federal Credit Union. The rate of its high-yield reward checking account (called Ovation Checking) increased from 2.00% to 3.00% APY for balances up to $20,000. This checking account yield had been 2% APY for the last year. Thanks to the DA reader pearlbrown who mentioned this change in the discussion forum.
The other features of the Ovation Checking account have remained the same. Below...Continue Reading
Citizens Bank and Charter One regularly have checking account promotions with nice bonuses. Both are brand names of RBS Citizens, N.A. Citizens Bank branches are primarily located on the east coast and Charter One branches are located in the Midwestern states of Illinois, Michigan and Ohio. Charter One is currently listing a bonus of up to $175. I can’t find a similar one at Citizens Bank, but when I called Citizens Bank at 888-411-7442, the CSR told me that this same $175 bonus is available. (see update below) However, he...Continue Reading
Mutual Bank in Massachusetts did something that is rare these days. It increased the rate of its reward checking account. Another nice change is that the bank is now allowing anyone from New England to apply online. The rate increase makes the reward checking competitive, but I wouldn’t call it a hot deal since it still has a small balance cap. There’s also a companion savings account called REALSaver which helps offset the checking's low cap. Below is a summary of the rates and features of these two accounts. These...Continue Reading
Citizens Bank is offering a checking account bonus of up to $150. The bonus doesn't require too much work. One downside is that the checking accounts do have monthly service fees, but there are easy ways to avoid them. This promotion is scheduled to last until 2/28/2013. The details are listed at www.citizensbank.com/150. Here's summary of what's required to earn the full $150: