Certificates of Deposit allow you to invest your money in a product that offers a guaranteed*, competitive rate of return that will never change over the term of the CD. This provides peace of mind knowing your money will grow consistently over time. Invest in multiple CDs at various terms so they mature every six months to a year. Then you can use that money to cover expenses or reinvest it in another CD.
* Minimum of $500 is required to open a Certificate of Deposit and earn the advertised Annual Percentage yield. The Interest Rate and APY are fixed for the term of the account. The APY assumes interest remains on deposit until maturity. A withdrawal will reduce earnings. Substantial penalty for early withdrawal. Transaction limitations apply.
** Minimum of $50,000 required to open and earn the advertised Annual Percentage Yield. Maximum balance is $250,000. The Interest Rate and APY are fixed for the term of the account. The APY assumes interest remains on deposit until maturity. A withdrawal will reduce earnings. Deposits may be made in increments of $1,000 or greater. Principal may be withdrawn in increments of $1,000 or more, however, a withdrawal of funds within seven calendar days of their deposit or within seven calendar days of any prior withdrawal is subject to a penalty. If the withdrawal brings the account below the required minimum balance of $50,000, the account will be closed, and a penalty will be imposed on the required minimum balance. Other early withdrawal penalties may apply. Deposits and withdrawals must be made in person.
Savings Bank of Danbury is a member of the Certificate of Deposit Account Registry Service® (CDARS), which provides up to $50 million in FDIC insurance coverage for your CDs. Invest confidently in our CDs knowing your money is fully insured.
Priority Platinum and Priority NOW Checking customers may be eligible for premium rates: 15 month CD requires $1,000 minimum opening balance.
For more information click here for account disclosures.
| Account Type | Interest Rate | Annual Percentage Yield |
Amount of Time Interest Rate in Effect | Minimum Balance Required to Open | Minimum Balance Required to Earn APY |
|---|---|---|---|---|---|
| 3 Month | .10% | .10% | Until Maturity | $500 | $500 |
| 6 Month | .15% | .15% | Until Maturity | $500 | $500 |
| 7 Month | 1.23% | 1.25% | Until Maturity | $500 | $500 |
| 9 Month | .20% | .20% | Until Maturity | $500 | $500 |
| 12 Month | .25% | .25% | Until Maturity | $500 | $500 |
| 13 Month | 4.35% | 4.50% | Until Maturity | $500 | $500 |
| 18 Month | .40% | .40% | Until Maturity | $500 | $500 |
| 2 Year | .40% | .40% | Until Maturity | $500 | $500 |
| 3 Year | .45% | .45% | Until Maturity | $500 | $500 |
| 4 Year | .60% | .61% | Until Maturity | $500 | $500 |
| 5 Year | .84% | .85% | Until Maturity | $500 | $500 |
| 6 Month Smart Choice Liquid CD | 2.92% | 3.00% | Until Maturity | $50,000 | $50,000 |
| 15 Month Bump Up CD * | .35% | .35% | Until Maturity | $1,000 | $1,000 |
Rates Effective as of: April 20, 2024