Certificates of Deposits (CDs)
With a TSB Certificate of Deposit you can earn a competitive fixed interest rate so your savings can grow free from market fluctuation.
Features
- $1,000 minimum deposit to open
- Terms from 3 to 60 months
- Earns fixed interest rate
- Interest is compounded daily and credited monthly and may be withdrawn before maturity
Certificates of Deposit (CD)
Effective Date: November 21, 2024
| Deposit Product | Annual Percentage Yield | Interest Rate | Minimum Balance to Open | |
|---|---|---|---|---|
| 3 Month CD | 0.150% | 0.150% | $1,000.00 | Open Now |
| 5 Month CD | 4.600% | 4.497% | $1,000.00 | Open Now |
| 6 Month CD | 0.200% | 0.200% | $1,000.00 | Open Now |
| 9 Month CD | 3.250% | 3.198% | $1,000.00 | Open Now |
| 12 Month CD | 4.000% | 3.922% | $1,000.00 | Open Now |
| 13 Month CD | 0.250% | 0.250% | $1,000.00 | Open Now |
| 15 Month CD | 0.250% | 0.250% | $1,000.00 | Open Now |
| 18 Month CD | 3.500% | 3.440% | $1,000.00 | Open Now |
| 21 Month Bump Up CD | 3.250% | 3.198% | $1,000.00 | Open Now |
| 24 Month CD | 3.250% | 3.198% | $1,000.00 | Open Now |
| 30 Month CD | 3.250% | 3.198% | $1,000.00 | Open Now |
| 36 Month CD | 3.000% | 2.956% | $1,000.00 | Open Now |
| 48 Month CD | 3.000% | 2.956% | $1,000.00 | Open Now |
| 60 Month CD | 3.000% | 2.956% | $1,000.00 | Open Now |
CD FAQs
We will notify you up to 30 days prior to your CD’s maturity date.
You can renew your CD by visiting one of our branches or by contacting our Torrington Savings Bank Customer Care Center by calling (860) 496-2152.
To renew your CD in Online Banking:
1) Select “Request Forms” under “Banking Services” menu options
2) Select “CD Renewal Request” from the forms options
3) Complete the “CD Renewal Request” form
4) Click or tap “Submit”
With most CD accounts, there is a penalty for withdrawing money from your CD before it reaches maturity.
The early withdrawal penalty depends on the type of Torrington Savings Bank CD you have and at what point in your term the early withdrawal is made.
To learn more about your specific early withdrawal penalties visit a TSB branch or call us at (860) 496-2152.
Yes. Torrington Savings Bank CD accounts are insured up to FDIC limits.
Certificate of Deposits Details:
Interest is compounded from the day of deposit to the day of withdrawal and is credited monthly. A substantial interest penalty is required for early withdrawals from Certificates of Deposit. For CDs with a term from 3 months to 1 year; penalty is 3 months’ simple interest on the amount withdrawn. For CDs with a term of more than one year; penalty is 6 months’ simple interest on the amount withdrawn. See Consumer Disclosures for additional rules and regulations that may apply to your account.
Common Fee Schedule Consumer Terms & Conditions
