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Best Savings Accounts in Connecticut of November 2022

Victoria Daniel

Connecticut has a population of over 3.5 million, with hundreds of banks operating in its state. These banks offer a wide range of savings accounts. When making a choice, find one that provides an annual percentage yield (APY) greater than the average.

The APY determines the amount of interest you earn per year. The higher the APY on a savings account, the faster your savings will grow. According to the FDIC, the average interest rate on a standard account in the U.S. is approximately 0.05%. Consider a high-yield savings account as it offers above average rates.

Apart from the APY, remember to analyze the account fees. Most of the high-yield savings accounts offering a high APY have high monthly fees, together with high initial deposits and minimum balance requirements.

Shop around for the best mix of these costs and features. Also, keep in mind that the advertised APY is variable. They can fluctuate at any time, depending on the strength of the economy.

Choosing an account from such a wide range can be very challenging. WalletBrain reviewed some of the best savings accounts in Connecticut.

We compared the APY, account fees, and other features of the available options. Use our top picks to find the most suitable match for you today. 

Access to checking writing

3.83%

Est. APY

$0

Min. To Earn APY

Overview

UFB Direct comes with check-writing capabilities and a free ATM card with a national network of fee-free ATMs.

What we like

  • Competitive interest rates
  • No minimum deposit
  • No recurring maintenance fees
  • Nationwide fee-free ATMs
  • Check writing capabilities
  • FDIC insured

What we don't

  • No physical branches
  • Account options are limited

Nationwide access to ATMs

3.00%

Est. APY

$0

Min. To Earn APY

Overview

A Discover Online Savings Account can be a great option for the avid saver where you can take advantage of daily compounding.

What we like

  • High APY
  • No minimum deposit
  • No recurring maintenance fees
  • 60,000+ Nationwide fee-free ATMs
  • No insufficient funds fee
  • User friendly mobile app

What we don't

  • Out-of-network ATM fees

Bank online with no monthly fees

3.25%

Est. APY

$0

Min. To Earn APY

Overview

This savings account is unique where you need to deposit $100 a month to get the highest APY. If you don't deposit $100+ a month, then you need to maintain $25,000 in the account. If you don't do either, you won't receive the higher end APY.

What we like

  • No monthly fees
  • FDIC Insured
  • No minimum balance fees
  • Online banking

What we don't

  • Minimum opening deposit
  • No ATM access
  • Tiered APY

Track savings on the mobile app

3.00%

Est. APY

$0

Min. To Earn APY

Overview

Quontic Bank high yield savings account provides you with the opportunity to accrue interest at a rate 15x higher than the national average. Interest compounds daily and is paid into your account every month.

What we like

  • Mobile and online banking
  • Competitive interest rate
  • No monthly service fees
  • Interest compounded daily

What we don't

  • Limited access to physical branches
  • No sign up bonus
  • $100 minimum deposit requirement

No monthly and minimum fees

0.61%

Est. APY

$0

Min. To Earn APY

Overview

This savings account will provide a flat APY regardless of your balance, and you won't worry about monthly fees. A great perk with this account is you can request a free ATM card.

What we like

  • No monthly fees
  • Interest compounded daily
  • Free ATM card

What we don't

  • No physical branch
  • No sign up bonus