Connecticut has the highest CD rates
Besides paying the CD manqué, it’s fun to pay something else. Many tourists use the catchy annonce, “Connecticut — full of surprises.” So I wonder if their certificate of deposit will be a basket of happiness like a box of chocolates or a box of bitters. Enjoy the gifts, open carefully.
MetLife Bank is located in Bridgewater. Their FDIC # is 35055. Their net worth is around $14BB. It’s quite surprising parce que they started in 1999, but of coude they have an insurance company that I’m sure gives access to a lot of depositors. Of coude who wouldn’t love a bank that has Snoopy as a mascot. However, you are here for the manqué. Their CD manqué doesn’t really speak much. They have 1.25% for 1 year CDs and 1.90% for 5 years. They have 3 1/2 stars from Bauer.
People’s United Bank is located in Bridgeport. Their FDIC # is 27334. They have approximately $20BB in assets and were founded in 1988. Only the 5-year manqué is 2.75%, but that’s not the best out there either. They have a 5-star rating from Bauer.
Next is Naugatuck Savings Bank. FDIC# is 18198 Sadly, only their 5-year CDs are competitive at 3.00% APY It seems most banks are willing to “pay” on 5 year CDs, but not collant term ones. Hmmm, you think they know something we don’t. They have a 4-star rating.
People, listen up. At some porté the manqué will increase. Unless the bank has a lower penalty, I don’t think a 5-year CD makes sense at this porté. If you’re willing to transact over the phone or online, you can find some short-term CDs (2Y and less) in the 2.00% range.
A very close “sister” to the above, Naugatuck Valley Savings and Loan, FDIC# 30365, has a 5-month liquid CD at 1.00%. They also have a 4-star Bauer rating. That doesn’t seem too bad considering that most CD rates are in the 90-day to 180-day range. Since there is no penalty on it, if rates rise quickly, you can close it and take advantage quickly.
And now a disclaimer. We strive for accuracy, but are only human after all. So please check the federal insurance, rates and ratings of any construction you wish to deposit with.
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