State has low interest rates

Interest rates paid by Connecticut banks are on the low side compared with rates paid by financial institutions in other states.

According to a new ranking by the website gobankingrates.com, the average rate for savings accounts in Connecticut ranks 47th among the 50 states. Rates for six-month, one-year and two-year certificates of deposit all rank between 35th and 38th.

Go Banking Rates said Connecticut rates for savings accounts average 0.15 percent, compared with 0.21 percent nationwide. Six-month CDs average 0.29 percent in the state, while one-year CDS average 0.42 percent and two year CDs average 0.64 percent.

Data are posted at www.gobankingrates.com/banking/best-interest-rates/conneticut-credit-union-banks-rates-02-13/

Hide Comments

READER COMMENTS

Loading comments...
Hide Comments