bank rates

Connecticut Bank Has Top Long-Term CDs

Eastern Federal Bank offers its CDs with a $500 minimum deposit.Connecticut residents can take advantage of two long-term CD rates that pay well more than the best nationally available deals.

With a $500 minimum deposit, Eastern Federal Bank pays:

  • 2.15% APY on 60-month CDs.
  • 2.30% APY on 72-month CDs.

That 5-year deal is more than a third of a percentage point better than the top deal on our CD Rates Leaderboard.

And while we don’t track nationally available CDs with terms longer than five years, the 72-month deal ranks among the highest CD rates we’ve seen this year.

You have to live or work in New London County in the southeastern corner of the state to buy these certificates of deposit and visit a branch in person.

Eastern Federal Bank has four branches: two in Norwich and one each in Jewett City and Plainfield.

Learn more about Eastern Federal Bank at or call 888-226-5911.

See how these returns compare with the best CD rates from scores of banks in our extensive database.

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Comments (2)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 3.50 out of 5)
2 Existing Comments
  1. Kathy at Bankaholic said:
    on June 22nd at 12:29 pm

    Eastern’s 7-year special isn’t available now, but it is paying the same 2.30% rate on a 5-year special.

  2. Kathy at Bankaholic said:
    on June 26th at 09:52 am

    Eastern’s 60-month rate has dropped to 2.00% APY. The 7-year special hasn’t returned, and the 5-year special rate (mentioned in previous comment, has dropped to 2.15% APY.