For savers waiting to see what the Federal Reserve will (or won’t) do with interest rates over the next year or so, top-paying short-term CDs can be a good bet.
A competitive bump-up certificate could also be a smart move.
Put the two together in one certificate, and Connecticut’s Savings Bank of Danbury is offering a winner.
Its special 15-month promotional CD is paying 1.50% APY with a $1,000 minimum investment and offers the chance to boost the rate once during the certificate’s term.
On our CD Rates Leaderboard of the top nationally available bank returns, the most you can earn on 12 months is 1.26% APY, with 24 months being required to reach 1.50% APY.
Savings Bank of Danbury offers its certificates of deposit to anyone who lives or works in Connecticut. However, new customers are required to open their account at one of the bank’s 14 branches roughly along the I-84 corridor from Danbury to Waterbury.
The promotion earns Savings Bank of Danbury its first-ever appearance on our constantly updated roundup of the country’s best-paying community bank and credit union CDs.
As always, though, be sure to check Bankrate’s extensive database of the day’s best CD rates before committing your funds to any locked rate.