Connecticut Banking Rates and News

Charter Oak Federal Credit Union is offering three competitive long-term CD and IRA CD rates: 2.00% APY for 3 years, 2.25% APY for 4 years and 2.30% APY for 5 years. Minimum deposit is $1,000. These rates are listed in the credit union's rates page as of 12/28/2011.

Charter Oak also has a nice deal on an 18-month CD with a 1.25% APY. However, it's only available to Gold Rewards Members. Details of how to qualify for this status is listed here. The credit union just announced a $100...

In today's interest rate environment, it's rare to find Jumbo CD rates that are significantly higher than regular CD rates. That's not the case with a Jumbo CD offered at Nutmeg State Federal Credit Union. It's offering a 5-year Jumbo CD with a 2.80% APY. This requires a minimum deposit of $100,000. The 5-year regular share certificate has only a 2.02% APY. The minimum deposit is $1,000. The credit union also offers Traditional and Roth CDs with the same rates as the share certificates. These rates are listed in the credit union's rates page as of...

EBSB Direct is offering a competitive 3-year CD yield of 1.80% APY. Minimum deposit is $1,000. This used to a better deal back in June when the yield was 2.25%, but it's still quite competitive compared to what's available today. There's also a 10-month CD, but the rate is much less competitive at 0.55% APY. Minimum deposit is $1,000. These rates are listed at EBSBdirect.com as of 10/04/2011.

According to the bank's disclosure, "terms over 12 months the penalty will equal 6 months interest on the amount withdrawn."

EBSBdirect.com also offers an online savings...

People's United Bank is offering a $100 gas card when you open any personal checking account and perform certain activities. The account must be opened with a minimum of $25 by 10/31/2011. They give you three choices of activities which must be completed within 60 days of account opening. You can choose any one of the following to qualify for the bonus:

• Receive a recurring direct deposit of at least $100
• Use the debit card to make at least 10 purchases of at least $25 each
• Make at least 5 payments of at least $25 each using Online Banking

The promotion is listed...

Capital One Bank has responded quickly after new rules took effect last week which allows banks to pay interest on business checking accounts. Capital One has started to advertise a new promotion called the Clear Interest Business Checking. It guarantees 1.10% APY for 1 year on balances between $10K and $100K. The rate isn't great, but the 1-year guarantee is nice.

This promotion is only available in states where Capital One has branches. The rate also varies by state, but currently, the only state that doesn't offer 1.10% APY is Louisiana which only...

UniBank is again offering a very competitive 4-year CD. It has a 3.00% APY with a maximum deposit of $250,000. The rate is subject to change at anytime. It's listed at the bank's rates page as of 6/27/2011.

I first reported on this special in March, but I just learned this special hasn't been available for that entire time. It just came back about a month ago. I was told the early withdrawal penalty is 6 months of interest.

I also learned that it's a branch-only special that is not available from their online...

Xceed Financial Credit Union has a limited time special on its 5-year CD and IRA CD with a 2.50% APY. Minimum deposit is $500. This rate is listed on the credit union's rates page as of 6/23/2011.

I contacted the credit union yesterday for some additional details. I was told that the early withdrawal penalty is a loss of 180 days of interest. I was hoping this CD would have the bump-up and add-on features that are highlighted in the certificates overview page. However, I was told that since this is a...

Citizens Bank has another checking account promotion, and unlike the last one, it's a little easier to qualify for the bonus. In this new one, a new personal checking account must be opened by June 30, 2011. Once you open the account, make 5 qualifying online bill payments of at least $50 each before July 29, 2011. The bonus amount is $100. The promotion is listed at www.citizensbank.com/100cash1. It's also available at Citizen's subsidiary, Charter One (www.charterone.com/100cash1). Here's the small print of the offer:

To qualify for this offer you must open your...

Update: Promotion is back. New expiration date is 10/28/2011. Small print now says "offer available in branch and by phone and excludes select Philadelphia area branches."

Citizens Bank has a checking account promotion in which you can earn $240. It does require some work and it'll take at least 6 months. The offer is listed on the bank's front page, and they have a special page at www.citizensbank.com/240. The new personal checking account must be opened by May 6, 2011. Once you open the account, you'll be paid $40 a month for up to 6...

EBSB Direct continues to offer a good deal on its high yield savings account for those with large balances. The savings account has a 1.30% APY on balances of $50K to $1M as of 4/10/2011. For balances of $5K to $50K, the rate goes down to 0.75% APY, and for balances under $5K, no interest is paid.

This rate has held since I reviewed EBSB Direct in December. Back at that time, a 1.30% APY was good but there were several banks offering higher rates. That's not the case any more as you can see in my

People's United Bank is offering a free Amazon Kindle for opening its Advantage Checking Account with direct deposit by 3/18/2011. The important downside to this promo is that Advantage Checking has a $20 monthly fee unless you maintain a combined average balance of $5,000. The promo is listed on the bank's front page. Here's the offer's small print (with my highlights):

This offer applies when you open a new People's United Advantage Checking Account (the "Account") between 2/8/11 and 3/18/11 with a $25 minimum opening deposit and a recurring direct deposit. To qualify for the Kindle, you...

UniBank is offering a very competitive rate of 3.00% APY on a 4-year CD special. Minimum deposit is $500. The CD specials with shorter terms are not nearly as competitive. These include a 1.50% APY 2-year CD and a 1.00% APY 1-year CD. On the plus side, these two shorter term CDs give you the option to step up to a higher rate once during the life of the account. These rates are listed in the bank's deposit rates page as of the morning of 3/14/2011.

As a comparison to CDs available nationwide, the best...