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Alert:

Please watch out for fraudulent email scams utilizing the SBA name and logo concerning the CARES Act financing programs.  These emails may ask you to click on a link for an application or ask for personal identifiable information.  Do not click the link or respond in any way.  As a Preferred Lender for the SBA, Connecticut Community Bank can provide you with the information you need to apply for an SBA loan.   

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Business Rates

Rates Effective
Interest rates are subject to change without notice
Fees may reduce earnings.

Business Checking Accounts

Type of Account Minimum Opening Deposit Required Minimum Balance to Obtain Annual Percentage Yield Annual Percentage Yield Interest Rate
Easy Business Checking $100.00 N/A N/A N/A
Business Checking $100.00 N/A N/A N/A
Business NOW Checking $100.00 $1,500 0.05% 0.04%
Business NOW Tier 1 $25,000.00 $25,000.00 - $49,999.99 0.05% 0.04%
Business NOW Tier 2 $25,000.00 $50,000.00 - $149,999.99 0.10% 0.09%
Business NOW Tier 3 $25,000.00 $150,000.00 and over 0.15% 0.14%

 

Business Money Market Accounts

Type of Account Minimum Opening Deposit Required Minimum Balance to Obtain Annual Percentage Yield Annual Percentage Yield Interest Rate
Money Market Tier 1 $2,500.00 $2,500.00 - $24,999.99 0.05% 0.04%
Money Market Tier 2 $2,500.00 $25,000.00 - $49,999.99 0.10% 0.09%
Money Market Tier 3 $2,500.00 $50,000.00 - $249,999.99 0.15% 0.14%
Money Market Tier 4 $2,500.00 $250,000.00 and over 0.20% 0.19%

 

Direct Investment Money Market Account

Type of Account Minimum Opening Deposit Required Minimum Balance to Obtain Annual Percentage Yield Annual Percentage Yield Interest Rate
DIMMA Tier 1 $50,000.00 $0.00-$49,999.99 0.10% 0.09%
DIMMA Tier 2 $50,000.00 $50,000.00 - $249,999.99 0.15% 0.14%
DIMMA Tier 3 $50,000.00 $250,000.00 - $499,999.99 0.20% 0.19%
DIMMA Tier 4 $50,000.00 $500,000.00 and over 0.25% 0.24%

 

Certificate of Deposit Accounts for Businesses

Penalties will or may be imposed for early withdrawals

Type of Account Minimum Opening Deposit Required Minimum Balance to Obtain Annual Percentage Yield Annual Percentage Yield Interest Rate
3 Month $500.00 $500.00 0.10% 0.09%
6 Month $500.00 $500.00 0.10% 0.09%
9 Month $500.00 $500.00 0.10% 0.09%
12 Month $500.00 $500.00 1.00% 0.99%
18 Month $500.00 $500.00 1.40% 1.39%
24 Month $500.00 $500.00 0.45% 0.44%
36 Month $500.00 $500.00 0.60% 0.59%
60 Month $2,500.00 $2,500.00 0.85% 0.84%

 

Business Savings Accounts

Type of Account Minimum Opening Deposit Required Minimum Balance to Obtain Annual Percentage Yield Annual Percentage Yield Interest Rate
Business Statement Savings $100.00 $200.00 0.05% 0.04%
High Yield Savings Tier 1 $1,000.00 $1,000.00-$49,999.99 0.10% 0.09%
High Yield Savings Tier 2 $1,000.00 $50,000.00 and over 0.15% 0.14%

Interest rates are subject to change without notice.