Personal Certificate of Deposit (CD)
A Certificate of Deposit (CD) from Thomaston Savings Bank can make a real difference in your savings goals, offering some of the most competitive CD rates in Connecticut across three account types built for different needs. The Fixed-Rate CD locks in a guaranteed rate for terms ranging from 91 days to 60 months, with rates as high as 3.60% APY and a $1,000 minimum deposit. The Flex CD offers a 4-month term at 2.50% APY with penalty-free full withdrawals starting 7 days after funding. The Variable-Rate CD has an 18-month term at 2.50% APY, allows additional deposits during the term, and opens with just $25. Interest is compounded daily across all three, so your money grows faster over time. All CDs are FDIC-insured up to $250,000 per depositor per ownership category, and fixed-rate and variable-rate terms are also available for IRAs.
Certificate of Deposit (CD) Highlights
Low minimum deposit: To earn the disclosed APY, you can open a variable-rate CD with a low minimum deposit starting at just $25. Our fixed-rate CDs can be opened with a minimum starting deposit of $1,000.
Guaranteed returns: With our CD, you can lock in a guaranteed interest rate for a fixed period of time. You’ll know exactly how much money you'll earn, even if interest rates rise or fall.
FDIC-insuranced: All CDs at Thomaston Savings Bank are FDIC-insured, up to $250,000 per depositor, per FDIC-insured bank, per ownership category.
Flexible terms: Thomaston Savings Bank offers CDs with terms ranging from days to years, so you can choose a term that fits your individual needs and financial goals.
Current Certificate of Deposit (CD) Rates
An Introduction to Certificates of Deposit
Learn about CDs, which typically offer a higher rate of interest than a regular savings account.
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Frequently Asked Questions (FAQs)
There are three types: a Fixed-Rate CD, a Flex CD, and a Variable-Rate CD. Each has different terms, minimum deposits, and flexibility for withdrawals or additional deposits.
A Fixed-Rate CD locks in a guaranteed interest rate for your chosen term. Terms range from 91 days to 60 months with a $1,000 minimum deposit. Current rates range up to 3.60% APY. An early withdrawal penalty may apply if you access funds before maturity.
The Flex CD is a 4-month term CD earning 2.50% APY with a $1,000 minimum deposit. Unlike a standard fixed-rate CD, you can withdraw your full balance and accrued interest without a penalty be
The Variable-Rate CD has an 18-month term, earns 2.50% APY, opens with a minimum of $25, and allows additional deposits during the term. The rate may change after the account is opened.
The Variable-Rate CD opens with $25. Both the Fixed-Rate and Flex CDs require a $1,000 minimum deposit.
Interest is compounded daily and credited monthly. The APY assumes interest remains on deposit until maturity.
Yes. All CDs at Thomaston Savings Bank are FDIC-insured up to $250,000 per depositor, per FDIC-insured bank, per ownership category.
Yes. Fixed-rate and variable-rate CD terms are available for Individual Retirement Accounts.
An early withdrawal penalty may be imposed on fixed-rate CDs. The Flex CD is the exception, allowing penalty-free full withdrawals starting 7 days after funding.
Generally yes. CDs typically offer higher rates than a standard savings account because your funds are committed for a set term.
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