Liberty Bank (CT) Boosts 18-Month Promo CD


Deal Summary: 18-month Promo CD, 2.00% APY, $500 minimum deposit, new money, limit of one per customer.

Availability: Available only in-branch at all Connecticut branch locations.

Liberty Bank has added 30 bps to its 18-month Promo CD, boosting the APY up to 2.00%. The minimum opening deposit is $500 of new money, which is defined simply as “funds not currently on deposit at Liberty Bank.” While there is no stated balance cap, there is a limit of one Promo CD per customer.

The 18-month Promo CD was introduced in June and, at the time, its 1.70% APY was the top rate for any 18-month CD available in Connecticut. Five months later in the current rising rate climate, a 1.70% APY would be the eighth highest APY for a 18-month CD. In other words, not that impressive.

According to CSR, the Early Withdrawal Penalty is a combination of a “flat fee of $25 and 3% of the amount being withdrawn.”

$100 Checking Bonus

There are about six weeks left before Liberty Bank’s new checking account $100 bonus expires on December 30, 2017. The details can be found on the promotion page and are summarized as follows:

  • All account holders on the new account must be new consumer checking customers, defined as not having “had a checking account within the past 365 days.”
  • Direct Deposit (payroll, pension, or government benefits) required within 90 days of account opening.
  • $100 will be deposited in new checking no later than 60 days following first Direct Deposit transaction.

All of Liberty Bank’s four checking accounts (PayBank, Quarter Back, Basic, and Interest) qualify for the $100 bonus. Details for all four checking accounts can be found on the Bank's website.


Headquartered in Middletown, Connecticut, Liberty Bank’s market area is primarily Connecticut, but the Bank’s website does state that residents of Hampden, Hampshire, and Worcester Counties, Massachusetts, and Washington County, Rhode Island are “invited to apply.”

While Liberty Bank does offer a variety of online CDs, the 18-month Promo CD must be opened in-branch at any of 55 full-service Connecticut branches, which are located throughout the state.

Bank Overview

Liberty Bank has an overall health grade of "A" at, with a Texas Ratio of 2.47% (excellent) based on June 30, 2017 data. In the past year, Liberty Bank has increased its total non-brokered deposits by $97.4 million, an excellent annual growth rate of 2.8%. Please refer to our financial overview of Liberty Bank (FDIC Certificate # 17943) for more details.

How do you summarize Liberty Bank’s 192-year history in one or two short paragraphs? Perhaps with a few facts and a historical anecdote.

Originally founded in 1825 as The Middletown Savings Bank, Liberty Bank is currently Connecticut’s fourth largest bank with assets in excess of $4.7 billion. The Bank is also the State’s oldest mutual bank and is still maintains its original location on Main Street in Middletown. In the past 40 years, there have been two name changes and six acquisitions.

In 1844, Frederick Sheffield, a young merchant from Old Saybrook, rode his horse to Middletown to deposit $8. Six months later, he made an additional deposit of $18. In 1994, Sheffield's relatives decided to close the account. It had been maintained over the years, handed down through the generations, and had grown through compounding interest to more than $32,000. At the time it was the oldest individually owned savings account in America.

How the Promo CD Compares

When compared to the 209 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available to Connecticut residents, Liberty Bank’s 18-month Promo CD APY currently shares the top spot with Connex Credit Union’s 18-month CD Special APY.

The above rates are accurate as of 11/17/2017.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table or our Rates Map page.

Related Pages: New York CD rates, Hartford CD rates, 1-year CD rates

RJM   |     |   Comment #1
Not sure where to mention this but I just noticed that LMCU has a new CD special. 17 months at 1.75%.

Not great but they are trying, I guess. I have a 1.4% expiring in a week. I think its going to go in yet another ally 1.5% no penalty. Not sure I can justify tying it up for 17 months for just .25% extra.

But, I'm over the limit at ally. So maybe I should just keep it there for the 1.75% ?
Liberty Bank (CT) Max Money Market APY Guaranteed Thru December 2018
Deal Summary: Max Money Market Promo, 1.50% APY, $500 min/$100k max, new money, rate guaranteed through December 31, 2018.

Availability: Available only in-branch at all Connecticut branch locations.

In the past year, Liberty Bank has offered a variety of good deals, including checking account bonuses and CDs. The Bank’s latest competitive product is its Max Money Market Promo, earning a guaranteed 1.50% APY on balances up to $100k through December 31, 2018.

The minimum opening deposit is $500 of new money, which is simply defined as “funds not...

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Liberty Bank (CT) Adds In-Branch 18-Month Promo CD
Deal Summary: 18-month Promo CD, 1.70% APY, $500 min/$250k max, new money.

Availability: Available only in-branch at all Connecticut branch locations.

Liberty Bank has added an 18-month Promo CD (1.70% APY) to the product line. The minimum opening deposit is $500 of new money, with a balance cap of $250k “per customer.” New money is defined simply as “funds not currently on deposit at Liberty Bank.”

When I wrote about Liberty Bank’s 21-month CD Special a few months ago, the CD was only available to new...

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Liberty Bank (CT) Has 21-Month CD Special and $100 Checking Bonus

Deal Summary: 21-month CD Special, 1.75% APY, $500 min/$250k max, new customers only.

Availability: Available only in-branch at all Connecticut branch locations.

Liberty Bank is currently featuring a 21-month CD Special (1.75% APY). The minimum opening deposit is $500 of new money, with a balance cap of $250k “per household.”

Unlike other Liberty Bank CD Specials offered in the past, the 21-month CD Special is only available to new Bank customers.

Rate is not available for current customers of Liberty Bank,
Trusts, IRA CDs, or for...
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Liberty Bank (CT) Adds 18-Month CD Special
Availability: 18-month CD Special is available only in-branch at all Connecticut branch locations.

At the end of last week, Liberty Bank added an 18-month CD Special (1.50% APY). The minimum opening deposit is $500 of new money, with a balance cap of $250k.

A Liberty Bank personal checking account (either new or existing) is required to open the 18-month CD Special. The Bank offers three checking accounts: Quarter Back Checking®, PayBackSM Checking, and Interest Checking. Any of these accounts satisfy the checking relationship requirement.

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Checking and CD Specials at Liberty Bank in Connecticut - EXPIRED

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...

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