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

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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 municipal deposits.

According to CSR, the Early Withdrawal Penalty is a combination of a “flat fee of $25 and 3% of the amount being withdrawn.”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

Now through December 30, 2017, Liberty Bank is offering a $100 bonus when opening a new checking account. The details can be found at this Liberty Bank 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 Liberty Bank’s website.

Thanks to DA reader, troy, for his Forum post about the $100 checking bonus.

Availability

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 CD Special 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 DepositAccounts.com, with a Texas Ratio of 3.16% (excellent) based on September 30, 2016 data. In the past year, Liberty Bank has increased its total non-brokered deposits by $589.35 million, an excellent annual growth rate of 20.41%. 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 short paragraph? 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 $4.4 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 CD Special Compares

When compared to the 193 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available to Connecticut residents, Liberty Bank’s 21-month CD Special APY currently ranks second.

Interest RateCD Length of TermCredit Union/Bank
2.00% APY17-Month CD Special ($50k max)Navy Federal Credit Union
1.75% APY21-Month CD SpecialLiberty Bank
1.50% APY18-Month Share Certificate SpecialGreat Lakes Credit Union

The above rates are accurate as of 3/7/2017.

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

Comments
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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