Banks in Connecticut with the Best Savings Rates: September 2011
Everyone has a preference when it comes to where they like to bank. Some prefer the convenience of national chains, while others may actually belong to a credit union. A growing number of local residents happen to prefer the smaller, community-oriented Connecticut banks.
There are several benefits to banking with a local financial institution, so if you’re not pleased with your existing financial institution, give banks in Connecticut at try.
3 Reasons to Choose Local Banks in Connecticut
So what can a local institution provide you that the large chains often can’t? Every bank is different, but the smaller ones tend to provide the following:
1. Higher Interest Rates: Since local banks are primarily focused on the well-being of the community, they tend to provide much more competitive interest rates on deposit accounts and loans.
2. Better Customer Service: Local banks make it a point to show their appreciation for customers with more attentive bank employees who do their best to meet your needs.
3. Local Decision Making: Because Connecticut banks are run by residents who are familiar with the needs and concerns of local families and businesses, loan approvals and other major decisions can be made quickly.
Connecticut Banks with the Highest Savings Rates
A savings account is the foundation to financial security. Of course, you’ll want to be sure your deposits are reaching their full potential by obtaining the best interest rate available. Below are the local banks with the top Connecticut savings rates today.
- Savings Bank of Danbury: 0.3%
- Darien Rowayton Bank: 0.3%
- Salisbury Bank: 0.25%
- Connecticut Community Bank, National Association: 0.25%
- The First National Bank of Suffield: 0.2%
These savings rates are accurate as of September 29, 2011, but can change at any time in the future. Please contact individual banks to verify rates, as well as learn about additional terms and requirements, before opening an account.
