Best Banks in Connecticut CT In 2023 | Rates, Account Types, Min. Deposit

Your go-to place to solve any of your monetary needs should be your bank. Regardless of what services you want the bank to offer you, just be in the know that a good bank can meet your financial expectations and even more.

To qualify as one of the best banks in Connecticut, a lot of things as the account types, bank accessibility, interest rates and the minimum deposit they require must be put into consideration.

In this article, we’ll focus on what’s so exceptional about these banks on the list. However, kindly go through the table of contents below.

What are the Best Banks in Connecticut?

There are several banks which the residents in Connecticut can decide to bank with but very few provide excellent service and products.

Here in the list of the best banks in Connecticut, you’ll see what makes them unique so you can easily identify a bank for your monetary need.

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  • United Bank
  • Farmington Bank
  • First County Bank
  • Liberty Bank
  • Webster Bank, National Association
  • Savings Institute Bank and Trust Company
  • Union Savings Bank
  • Bankwell Bank
  • People’s United Bank, National Association

#1 United Bank

Of all banks in CT, United Bank comes tops because the products and services it offers its customers helps them meet their financial goal.

The interest rate it has for Savings and Checking accounts ranges from 0.05-0.06% APY and the minimum balance for the APYs range from $500 – $1,000.

#2 Farmington Bank

According to Wikipedia, Farmington bank is a full-service community bank that has its location in Connecticut.

Farmington bank is your go-to bank for a collection of account choices. With over 29 branches in Connecticut, it gives its customers straightforward access to banking.

#3 First County Bank

With its headquarter in Stamford, Connecticut, this brick-and-mortar bank should be in your list of best banks in Connecticut. This is because of the incredible service it offers its customers.

Having a 3.9 start rating out of 5, First County Bank offers services ranging from savings accounts, checking accounts, money markets, CDs, IRAs, etc.

It stands as one of the best banks because it ensures you have easy access to your funds.

#4 Liberty Bank

This is Connecticut’s oldest and third largest bank that has continually served the residents in Connecticut with consumer and commercial banking, insurance and investment services.

If you intend to get a loan and yet to decide which home loan works best for you, Liberty Bank sees that it puts you through to achieve your financial goals.

#5 Webster Bank, National Association

With over $30 billion assets, Webster Bank is known for serving over 3 million customers through Consumer and Commercial Banking.

It is one bank in Connecticut that provides Health Savings Account. The one thing that distinguishes it from other banks is how they put their customers’ needs at the forefront of everything they do.

For the second time consecutively, this bank has been recognized by Forbes as one of the World’s best banks in Connecticut. It based this recognition on general satisfaction, digital services, and financial advice it offers its customers.

#6 Savings Institute Bank and Trust Company

Although this bank lacks topnotch access to customer service, it still grew to become one of the best banks in CT. This financial institution offers a wide range of services with a fair savings rate.

If you are considering a stress-free checking account, this could be an ideal option as they don’t have a monthly fee for the service they render.

Interestingly, this type of financial institution is the best for getting timely access to your funds.

#7 Bankwell Bank

As a state non-member bank, Bankwell offers several services to both its commercial and consumer customers.

Its depository products include checking, savings, money market, certificates of deposit, noninterest-bearing demand, negotiable order of withdrawal (NOW) and time deposits.

#8 People’s United Bank, National Association

This is also in the list of the best banks in Connecticut because of the quality of management services, retail banking it offers.

With over 400 retail branches scattered in Connecticut, People’s United Bank contributes its quota to improve the quality of life for residents in Connecticut.

There is provision for smart investment to suit your needs at People’s United Bank.

Final Thoughts

Summarily, below is a list of all the best banks in Connecticut with their account types, interest rates, and minimum deposit sum.

BankAccount TypeMinimum DepositRates
1. United Bank
2. Farmington BankChecking & Deposit $1,000.02%
3. First County BankChecking & Savings $5000.10%
4. Liberty BankSavings & Money Market$1,0000.45%
5. Webster Bank, National AssociationChecking & Savings$300N/A
6. Savings Institute Bank and Trust CompanyChecking, Savings & Money MarketNo Minimum Required0.05%
7. Bankwell BankChecking & Savings$1000.15%
8. People’s United Bank, National AssociationChecking & Savings$1,000N/A


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