Our branch located at 314 Danbury Road is currently closed and will not open until 12:00 pm. Our office located at 1 Kent Road is open.

Certificates of Deposit

Certificates of Deposit

Diversify your portfolio with safe investment options that grow your money steadily.

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. 


Certificates of Deposit*

  • Open with a minimum of $500
  • Choose from a wide range of CD Terms, from 3 months to 5 years to meet your needs and goals
  • Priority Platinum customers with a monthly direct deposit of $250 or more and an average daily balance of $5,000 or more are eligible for premium CD Rates.
  • Priority NOW Checking customers with a monthly direct deposit of $250 or more are eligible for premium rates  

*  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.

Smart Choice Liquid CD**

  • Open with a minimum of $50,000
  • Make deposits and withdrawals anytime** for greater flexibility
  • Grows at a competitive, guaranteed rate and matures after six months

**  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 Principal may be withdrawn in increments of $1,000 or more, however, a withdrawal of funds within seven calendar days of their deposit or within seven calendar days of any prior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
Amount of Time Interest Rate in Effect Minimum Balance Required to Open Minimum Balance Required to Earn APY
3 Month 0.10% 0.10% Until Maturity $500 $500
6 Month 0.15% 0.15% Until Maturity $500 $500
7 Month 1.23% 1.25% Until Maturity $500 $500
9 Month 0.20% 0.20% Until Maturity $500 $500
12 Month 0.25% 0.25% Until Maturity $500 $500
13 Month 4.35% 4.50% Until Maturity $500 $500
18 Month 0.40% 0.40% Until Maturity $500 $500
2 Year 0.40% 0.40% Until Maturity $500 $500
3 Year 0.45% 0.45% Until Maturity $500 $500
4 Year 0.60% 0.61% Until Maturity $500 $500
5 Year 0.84% 0.85% 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 * 0.35% 0.35% Until Maturity $1,000 $1,000

Rates Effective as of: June 22, 2024

  • The Interest Rate and Annual percentage Yield is fixed until maturity, unless a withdrawal is made that brings your balance below the minimum balance shown above.
  • * “Bump Up Option” - The interest rate and APY can be changed once during the term of the CD and the new Interest rate and APY will be in effect until the original maturity date. This product is not available for individual retirement accounts (IRA). 
  • APY assumes that Interest remains on deposit until maturity, a withdrawal will reduce earnings. 
  • Rates are accurate as of the date shown above and are subject to change without notice
  • Substantial Penalty for early withdrawal
  • Transaction Limitations Apply
  • For more information and account disclosure information please click here.

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