From Fortune Media Group:



This news article discusses the benefits of getting a certificate of deposit (CD) or share certificate as investment options for those who want low-risk investments with attractive returns. It focuses on the best CD rates in Connecticut, highlighting the highest annual percentage yields (APYs) in the state and comparing the rates with institutions nationwide to pinpoint the best options with competitive interest rates and low minimum opening deposit requirements. The article also discusses the main types of CDs available, such as traditional, brokered, and no-penalty CDs, and how to select the best CD in Connecticut based on factors like term length, APY, minimum deposit requirements, early withdrawal penalties, and deposit insurance.

The article emphasizes how CDs, as deposit accounts, are backed by FDIC or NCUA insurance, providing $250,000 of coverage per depositor or share owner. It also explains the concept of APY, the rate of return for one year on a CD, and highlights the features of the best 6-month, 1-year, and 5-year CDs in Connecticut. Additionally, it delves into the consequences of withdrawing funds before the CD matures and the criteria for choosing the right CD for individual needs and financial goals. The article also details the best CD rates in Connecticut overall based on data sourced from Curinos and how they collaborated to determine these rates.



Read more: The best CD rates for Connecticut in December 2023