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Overview / Commentary
860-449-6702
803 Main Street
Willimantic, CT 06226

Savings Institute Bank & Trust is headquartered in Willimantic and is the 8th largest bank in the state of Connecticut. It is also the 513th largest bank in the nation. It was established in 1842 and as of March of 2018, it had grown to 280 employees at 24 locations. Savings Institute Bank & Trust has an A health rating.

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2.70% APY 27-Month CD Special (w/Checking) In CT & RI - 5/5/2018

27 Month Special 2.70% APY With Active Savings Institute Checking Account 2.45% APY Without Active Savings Institute Checking Account They also have a 2.00% / 1.75% APY 14-Month CD. $500.00 Minimum Deposit to Open Account Maximum deposit for 14 and 27 Month CD is $1,000,000. Rates Effective 5/1/2018 https://www.savingsinstitute.bank/resources/resources/rates#cds

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Reviews (1)

Savings Institute Bank: A Great Start

This was the first bank I ever used due to the fact that it was only a block down from where I live. I remember going with my dad to set up the account, but everyone was quite helpful. I just got a basic savings account for a kid with a summer job so I can't go into too much detail about their plans and whatnot. My account had the average interest for a savings account, something like 1% a month. I think there are some locations around CT and in Rhode Island, but according to the website, they aren't a national chain. They also had a coin changer there that was very useful and open to anybody who has an account with them. It's much better than Coinstar or something for large amounts because they don't charge you any fee to use the machine. I don't think they had online banking at the time, but I didn't have a smartphone anyway when I opened the account.



Health

Health Grade Components

Overall
FDIC Certificate #18214
Year Established1842
Employees280
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.54%
Return on Equity - YTD5.31%
Annual Interest Income$13.7MM
Assets and Liabilities
AssetsQ1 2018vs Q1 2017$1.59B$1.58B
LoansQ1 2018vs Q1 2017$1.26B$1.24B
DepositsQ1 2018vs Q1 2017$1.23B$1.19B
Equity CapitalQ1 2018vs Q1 2017$161.8MM$157.5MM
Loan Loss AllowanceQ1 2018vs Q1 2017$13.0MM$12.0MM
Unbacked Noncurrent LoansQ1 2018vs Q1 2017$7.7MM$4.6MM
Real Estate OwnedQ1 2018vs Q1 2017$1.1MM$1.3MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

2.70% APY 27-Month CD Special (w/Checking) In CT & RI

JDubs   |  
27 Month Special
2.70% APY With Active Savings Institute Checking Account
2.45% APY Without Active Savings Institute Checking Account

They also have a 2.00% / 1.75% APY 14-Month CD.

$500.00 Minimum Deposit to Open Account
Maximum deposit for 14 and 27 Month CD is $1,000,000.

Rates Effective 5/1/2018

https://www.savingsinstitute.bank/resources/resources/rates#cds

Rates
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Always verify rates and promotions with the bank or credit union. We are not Savings Institute Bank & Trust; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Savings Institute Bank & Trust Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%--Variable Rate IRA
0.05%--Statement Savings

Savings Institute Bank & Trust Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$1m*$10mMoney Market Special
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k+ | 0.15% $25k - $50k | 0.20% $50k - $1mm

Savings Institute Bank & Trust Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$500-Choice Alliance Checking

Savings Institute Bank & Trust CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.75%$500-22 Month CD Special w/ Active Savings Institute Checking Account
2.50%$500-22 Month CD Special w/o Active Savings Institute Checking Account
2.50%$500-16 Month CD Special w/ Active Savings Institute Checking Account
2.25%$500-16 Month CD Special w/o Active Savings Institute Checking Account
1.21%$500-6 Year CD
1.15%$500-5 Year CD
1.10%$500-4 Year CD
0.75%$500-3 Year CD
0.45%$500-2 Year CD
0.30%$500-18 Month CD
0.25%$500-1 Year CD
0.20%$500-6 Month CD
0.15%$500-3 Month CD
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