CD Rates in Connecticut for June 2026
Updated June 17, 2026
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Connecticut residents looking to build up their savings might find a certificate of deposit (CD) to be a good investment. Many banks are still offering historically high yields on CDs, it's just a matter of finding one that fits your financial needs.
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How to compare the best CD rates in Connecticut
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Term length: Common CD terms range from six months to five years, though you can find shorter and longer terms at certain banks. Base your decision on your financial goals and how long you can comfortably keep your money locked away. In general, shorter-term CDs offer flexibility but longer-term CDs offer bigger gains.
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Yield: The rate you see for a CD is the annual percentage yield (APY). It’s how much interest you’ll earn on your CD over the course of the term. You’ll often find the highest yields at online banks or credit unions.
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Minimum deposit: Many banks require between $500 and $1,000 as a minimum deposit, but you can find lower requirements. This minimum is especially important if you want to open multiple CDs or make a CD ladder.
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Early withdrawal penalty: The early withdrawal penalty is what you’re on the hook for if you pull your money out early. These differ by bank and by CD term. For example, you might have to give up six months' worth of interest for withdrawing from a one-year CD early or 16 months’ worth of interest from a five-year CD.
Not sure about committing your money?
If you’re not actually sure when you’ll want your money, consider a no-penalty CD. These CDs allow you to withdraw your full balance after an initial holding period (typically 7 days).
Your local credit union could be your best bet
While you’ll often find the highest rates at online banks, you shouldn’t overlook your local credit union either. Credit unions are nonprofit institutions and pass on profits to their members, not shareholders, in the form of higher savings rates (and often lower loan rates, too).
The National Credit Union Administration (NCUA) has a credit union finder tool you can use to locate credit unions in your area, or you can search around online. Most credit unions have specific membership requirements, often based on where you live or work so you’ll have to check the rules and make sure you qualify to become a member.
To get you started, here are the three biggest credit unions in Connecticut, by membership size, as of the fourth quarter of 2025:
Credit unions may have a different name for their CDs
Many credit unions call their CDs share certificates or just certificates.
How to decide whether you want a long- or short-term CD
A long-term CD is a good option if you can do without your money for a while, as they lock in a high yield even if banks slash rates down the road. Plus the longer you leave your money deposited, the more interest you’ll earn, even if the rate offered is lower than what’s available on a short-term CD.
But a short-term CD will give you more flexibility with your funds since they’ll become unlocked earlier. Plus, the early withdrawal penalty is likely to be lower.
Before committing your funds, check in on your financial goals and timeline and do the math with Bankrate’s CD calculator to see what your deposit will earn with different terms and rates.
Next steps to take out a CD in Georgia
Compare CD rates
See the best nationally available rates
Check out rates at credit unions
See the best CD rates at credit unions that Bankrate reviews and check if you’re eligible to join
Do the math
Calculate what you can earn with different deposits, rates and terms
Have a strategy
Learn how to build a CD ladder
Research methodology
Since 1976, Bankrate has been a leading publisher of rates and personal finance articles. It is also often cited by some of the most respected and well-known publications and websites. The Bankrate promise is that we strive to help our readers make smarter financial decisions, adhering to strict principles of editorial integrity and transparency.
Bankrate’s editorial team is made up of seven banking experts. These experts have researched many banks and at least twice a month go to bank websites to make sure readers stay up to date on the latest rates and bank products.
We select banks that have high annual percentage yields (APYs) and that are popular and broadly available, and we include some of the largest banks.
Note: Bankrate doesn’t include callable CDs or brokered CDs on this page and compares regular CDs and no-penalty CDs separately.