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Amid recent financial industry news, we want to assure you that we are a well-capitalized mutual savings bank with its only priority to serve our customers.

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Home » Rates

Rates

Consumer Deposit Accounts

Certificates of Deposit**
Effective Date: March 29, 2023
Account Type Minimum Opening
Deposit Required
Interest Rate APY* Minimum to
Obtain APY
91 Day CD $500 0.10% 0.10% $500 How to Open
6 Month CD $500 0.25% 0.25% $500 Open
1 Year CD $500 0.35% 0.35% $500 Open
18 Month CD $500 0.40% 0.40% $500 Open
2 Year CD $500 0.50% 0.50% $500 Open
3 Year CD $500 0.99% 1.00% $500 Open
4 Year CD $500 1.24% 1.25% $500 Open
5 Year CD $500 1.49% 1.50% $500 Open
IRA Special**
Effective Date: March 29, 2023
Account Type Minimum Opening
Deposit Required
Interest Rate APY* Minimum to
Obtain APY
1 Year IRA $500 2.96% 3.00% $500 Open

**Penalty for early withdrawal may apply.

Consumer Checking & Money Market Accounts
Effective Date: March 29, 2023
Account Type Minimum Opening
Deposit Required
Interest Rate APY* Minimum to
Obtain APY
ez Access Money Market Checking $25 0.10%
0.15%
0.20%
0.10%
0.15%
0.20%
$500 – $24,999.99
$25,000 – $49,999.99
$50,000 or more
Open
Consumer Savings Accounts
Effective Date: March 29, 2023
Account Type Minimum Opening
Deposit Required
Interest Rate APY* Minimum to
Obtain APY
eStatement Savings $25 0.05% 0.05% $25 Open
Passbook Savings $25 0.03% 0.03% $25 How To Open
Holiday Club $1 0.05% 0.05% $1 How To Open
Health Savings $25 0.05%
0.05%
0.05%
0.10%
0.10%
0.15%
0.15%
0.05%
0.05%
0.05%
0.10%
0.10%
0.15%
0.15%
$1 – $999.99
$1,000 – $2499.99
$2,500 – $4,999.99
$5,000 – $9,999.99
$10,000 – $24,999.99
$25,000 – $49,999.99
$50,000 or more
How To Open
IRA Stmt Savings 0.03%
0.05%
0.10%
0.03%
0.05%
0.10%
$25 – $2,499.99
$2,500 – $9,999.99
$10,000 or more
How To Open
Business Accounts
Effective Date: March 29, 2023
Account Type Minimum Opening
Deposit Required
Interest Rate APY* Minimum to
Obtain APY
Business Statement Savings $25 0.05% 0.05% $25 How To Open
Business Money Market $2,500 0.05%
0.10%
0.15%
0.30%
0.05%
0.10%
0.15%
0.30%
$2,500 – $24,999.99
$25,000 – $49,999.99
$50,000 – $99,999.99
$100,000 or more
How To Open
Business Interest Checking $25 0.05% 0.05% $25 How to Open
IOLTA/IOREBTA $25 0.15% 0.15% $25 How to Open

*APY=Annual Percentage Yield. APY effective as of the above date. At our discretion we may change the interest rate on your account. Offers may be withdrawn and rates/APY’s are subject to change at any time. Fees may reduce earnings.

Residential Mortgage / Home Equity & Consumer Loan Programs

Residential Mortgage Loan
Effective Date: March 29, 2023
View Rates Apply

For current rate information on our Residential Mortgage Home Loans, please click above.

Home Equity Loans and Lines
Effective Date: March 29, 2023
View Rates Apply

For current rate information on our Home Equity programs, please click above.

Smart-E Energy Loan
Effective Date: March 29, 2023
Term in months APR*
60 4.49% Apply
84 4.99% Apply
120 5.99% Apply
144 6.99% Apply

*APR=Annual Percentage Rate. Smart-E Loans offer long-term, low interest financing to help Connecticut residents access affordable home energy improvements. Program is available for 1 to 4 family owner occupied dwellings. Subject to other terms and conditions. Other restrictions apply.

Home Improvement Loan (Unsecured)
Effective Date: March 29, 2023
Term in months APR* Payment per $1000
36 6.990% $30.42 Apply
60 7.490% $19.56 Apply
84 7.990% $15.09 Apply
120 7.990% $11.61 Apply
144 8.490% $10.55 Apply

*APR=Annual Percentage Rate. This program is available for 1 to 4 family owner-occupied dwellings (not available for condominiums) located in the State of Connecticut and Rhode Island. Subject to other terms and conditions. Other restrictions apply. Minimum loan amount is $3,000.  Maximum loan amount is $50,000.

Personal Loan(Unsecured)
Effective Date: March 29, 2023
Loan Amount Auto Pay APR* Term
$1,000-$15,000 With ECSB Auto Pay 10.000% 12 to 60 months Apply
$1,000-$15,000 Without ECSB Auto Pay 12.000% 12 to 60 months Apply

*APR=Annual Percentage Rate

New Vehicle Loans
Effective Date: March 29, 2023
Model Year APR* Max Term Loan To Value Payment Per $1,000
2021-2023 4.990% 24 months Up To 80%1 $43.20 Apply
2021-2023 5.490% 36 months Up To 80%1 $29.30 Apply
2021-2023 5.990% 48 months Up To 80%1 $22.58 Apply
2021-2023 6.240% 60 months Up To 80%1 $18.53 Apply
2021-2023 5.490% 24 months 80.01-90%2 $43.42 Apply
2021-2023 5.990% 36 months 80.01-90%2 $29.74 Apply
2021-2023 6.490% 48 months 80.01-90%2 $22.80 Apply
2021-2023 6.740% 60 months 80.01-90%2 $18.75 Apply

*APR=Annual Percentage Rate. Value based on retail value published by the NADA East Coast edition. Fee:$23.00 VSI insurance. Maximun loan amount: $50,000. Stated rates assume less than 5,000 miles at time of application. Never before titled/sold vehicles.

1Maximum Loan to value based on creditworthiness. Above APR assumes a credit score of 640+.

2Maximum Loan to value based on creditworthiness. Above APR assumes a credit score of 760+.

Used Vehicle Loans
Effective Date: March 29, 2023
Model Year APR* Max Term Loan To Value Payment Per $1,000
2005-2022 5.490% 24 months Up To 80%1 $43.42 Apply
2005-2022 5.990% 36 months Up To 80%1 $29.52 Apply
2005-2022 6.490% 48 months Up To 80%1 $22.80 Apply
2005-2022 6.990% 60 months Up To 80%1 $18.87 Apply
2018-2022 5.990% 24 months 80.01-90%2 $43.42 Apply
2018-2022 6.490% 36 months 80.01-90%2 $29.74 Apply
2018-2022 6.990% 48 months 80.01-90%2 $23.03 Apply
2018-2022 7.490% 60 months 80.01-90%2 $19.10 Apply

*APR=Annual Percentage Rate. Value based on retail value published by the NADA East Coast edition. Fee:$23.00 VSI insurance. Maximun loan amount: $50,000. Minimum loan amount: $5,000. Stated rates assume less than 105,000 miles at time of application

1Maximum Loan to value based on creditworthiness. Above APR assumes a credit score of 640+.

2Maximum Loan to value based on creditworthiness. Above APR assumes a credit score of 760+.

Note:90% Loan to Value available for 2014-2017 used cars.

Collateral Loans(Passbook or CD)
Effective Date: March 29, 2023
APR* Max Term Loan To Value
3.10%1 5 Years 90% How To Apply

*APR=Annual percentage rate. lifetime Cap:18%. lifetime Floor:3%. Funds on deposit must be opened for 90 days prior to the loan application.

1Contact our branch office for APR for your particular loan scenario.

Overdraft Protection Line
Effective Date: March 29, 2023
Loan Amount Rate APR*
$500-$2,500 18.000% 18.000% Apply

*APR=Annual Percentage Rate. An Overdraft Protection Line protects your checking account from overdrafts. Repayment:Interest plus 5% of the outstanding balance.

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    • Main and Ferry Office Rental
    • News & Noteworthy
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© 2023 Eastern Connecticut Savings Bank. All Rights Reserved.

Amid recent financial industry news, we want to assure you that we are a well-capitalized mutual savings bank with its only priority to serve our customers. Eastern Connecticut Savings Bank has been dedicated to serving the local community since 1915, and we continue to do so today.

At ECSB, our business model differs from those making headlines, as we do not specialize in services such as cryptocurrency or venture capital. We are not beholden to stock investors. We reinvest locally by providing a mortgage to your neighbor or a loan to the small business just around the corner.

We want to remind you during this time that we are FDIC insured and that no one has ever lost a dime of FDIC-insured deposits. We are here to support you and answer any questions you may have regarding FDIC coverage, and urge you to visit https://www.fdic.gov/ for more information. Thank you for choosing Eastern Connecticut Savings Bank.