Webster Bank CD Rates
At highestcdratesinfo.com, we aim to bring you the best CD rates in the market. We believe this information will help you to make informed and intelligent decisions regarding your financial future. In our series of highest CD rates, we will be discussing about Webster Bank CD rates in this article.
The Certificate of deposits (CD) offered by Webster Bank has some good features. They offer a guaranteed income to meet your financial needs. Also, they have varying periods to provide you with a lot of flexibility. Interest is compounded monthly and it is directly credited to your bank account. The opening deposit is only $1000 and all deposits are insured by FDIC.
Despite these good features, there are some aspects that you must keep in mind before investing. They have a penalty for early withdrawal of funds. The minimum amount of penalty is $25 and for deposits that are less than one year, the penalty is 3 months interest. In the case of deposits that have a term period of more than 1 year, the penalty is equal to 6 months interest. This is quite a hefty amount and so it is a good idea to plan well before you invest.
The current Webster Bank certificate of deposit rates for a 6-month liquidity CD is 0.50% for all balances. Webster CD rates for a 15-month CD is 1.35% APY for all balances. The rates for a 2-year CD is 1.50%, 3-year CD is 2.50%, 4-year CD is 2.75% and 5-year CD is 3.25% respectively. These rates are pretty competitive in the current banking environment.