Start Community Bank is a community development bank based in New Haven, CT that offers a number of consumer savings products with competitive interest rates.  Start Community Bank offers a range of deposit and loan products from checking accounts and bank CDs to personal loans and mortgage loans for residents in CT. 

Start Community Bank offers a wide range of bank CDs with varying CD rates in CT.  The bank certificates of deposit pay a fixed interest rate.  The CD interest rates will remain unaltered for the term of the CD.   The bank calculates the CD interest daily.  For bank CDs with terms of 28 days or more the banks compounds interest monthly.  There is a penalty for early withdrawal for account holders that withdraw their funds before the maturity date of the CD. 

Start Community Bank CDs are also available for IRA deposits.  For bank CD maturities that are 91 days or longer, the minimum opening deposit requirement is $500.00.

Current CD rates in CT offered by Start Community Bank include the following interest rates and terms:

3 month CT CD rate is 0.30%
6 month CD interest is 0.60%
1 year CD rate is 1.00%
18 month CD rate from Start is also at 1.00%
2 year CT CD rate is at 1.05%
3 year bank CD rate is 1.46%
4 year CD interest rate is 1.66%
5 year CD rate is 1.97%

Start Community Bank offers rate improvements for CD account holders that also have either a Great Start Checking or Senior Checking account.  The interest rate increases on the CT bank CDs offered by Start Community with the qualifying checking account is either 10 or 11 basis points.  One basis point is equal to 1/100th of a percent.  For the 3 month CD the interest rate is elevated to 0.40% from 0.30% while the 1 year CD rate increases from 1.00% to 1.11%.

The CT CD rates listed are current as of October 7th, 2011.  All bank rates are subject to change at any time and additional conditions may apply.  The Annual Percentage Yield (APY) listed assumes the original bank CD deposit and all accumulated interest remain on account for a one year period.

While the big banks are constantly receiving bad press over their services and costs, community banks like Start Community Bank continue to work on traditional bank products and good old fashioned services to support the community and their customers. 

To contact Start Community Bank regarding current CD rates in CT or additional account information, the bank customer service number is 1-877-687-1133.

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