fdic-logo LOG INTO onward ONWARD
Personal-Savings-Money-Markets-CDs_1707927462.jpg

Savings that grow with you—however you choose to plan ahead.

  1. Home
  2. Personal Banking
  3. Savings, Money Markets & CDs

Savings, Money Markets & CDs

online-bank.jpg

Compare Savings Accounts

See Options
mobile-bank.jpg

Compare Money Market Accounts

See Options
mobile-wallet.jpg

Compare Certificate of Deposits

See Options

Savings Accounts

A savings account allows you to deposit money and earn interest over time. It is a great option if you'd like to grow your savings separate from your checking account, even if you also have a Money Market or CD. It’s designed for the safe storage of funds not intended for daily expenses, offering a secure way to grow savings with minimal risk.

 

Platinum Savings

Benefits

  • Open with a $10 minimum deposit, with no minimum balance required to earn interest.
  • No monthly service charge if account holder also has a Platinum Checking account. Otherwise, a $10 monthly service charge will be assessed.
  • Tiered interest rates based on your daily balance. Interest earned may increase as your balance increases.
  • Interest compounded and credited to your account every month.
  • No transaction limitations.

  • Account is accessible through Online & Mobile Banking.

     

Features

  • FDIC insured up to $250,000.*
  • Statement options include eStatements / paper statements ($3.00 monthly). If the primary account owner is 70 years of age or older, the fee will be waived.
  • Unlimited in-person and ATM withdrawals.***
Open Today
 

Statement Savings

Benefits

  • Open with a $10 minimum deposit, a minimum balance of $250 is required to earn interest.
  • No monthly service charge unless the balance in the account falls below $250 any day of the monthly cycle, at which point a $4 monthly service charge will be assessed. Service charges are waived for those 60 years and older and minors.
  • Tiered interest at market rates based on your daily balance. Interest earned may increase as your balance increases.
  • Interest compounded and credited to your account every month. 
  • Account is accessible through Online & Mobile Banking.
  • Free Online Bill Pay.
  • ATM services are available; Usage at a non-Ledyard ATM will incur a $1.00 ATM debit item charge and other institutions may impose an ATM fee.

Features

  • FDIC insured up to $250,000.*
  • Statement options include eStatements / paper statements ($3.00 monthly). If the primary account owner is 70 years of age or older, the fee will be waived.
  • Unlimited in-person and ATM withdrawals.***
Open Today

Money Market Accounts

A Money Market Account combines the benefits of a savings account with the potential for higher interest rates.  It doesn’t have a fixed term length and has easier access to funds than CDs. This account is particularly useful for building an emergency fund or managing cash reserves with the potential for higher returns than a standard savings account. 

 

Highlights

    • Higher Interest Rates: MMAs typically offer higher, tiered interest rates compared to regular savings accounts, allowing savers to earn more on their deposits.
    • Liquidity and Accessibility: Unlike Certificates of Deposit, MMAs provide easier access to funds and provide a level of flexibility similar to a checking account.
    • Low Risk: MMAs are generally considered low-risk investment options. The combination of FDIC insurance and conservative investment strategies used by banks to manage these accounts makes them a safe place for savings.
    • No Lock-in Period: Unlike CDs, MMAs do not require a fixed term commitment. Savers can withdraw their money at any time without facing early withdrawal penalties, making MMAs suitable for those who need flexible access to their funds.
 

Platinum Money Market

Benefits

  • Open with a $10 minimum deposit, a $1,500 minimum balance required to earn interest.
  • No monthly service charge if account holder also has a Platinum Checking account. Otherwise, a $10 monthly service charge will be assessed.
  • Tiered interest at money market rates based on your daily balance. Interest earned may increase as your balance increases.
  • Interest compounded and credited to your account every month.
  • No transaction limitations.
  • Access to funds by ATM or check.
  • Account is accessible through Online & Mobile Banking.

Features

  • FDIC insured up to $250,000.*
  • Statement options include eStatements / paper statements ($3.00 monthly). If the primary account owner is 70 years of age or older, the fee will be waived.
  • Unlimited in-person and ATM withdrawals.***
Open Today
 

Personal Money Market

Benefits

  • Open with a $10 minimum deposit, a $1,500 minimum balance required to earn interest.
  • No monthly service charge unless the balance in the account falls below $1,500 any day of the monthly cycle, at which point a $10 monthly service charge will be assessed.
  • Tiered interest at money market rates based on your daily balance. Interest earned may increase as your balance increases.
  • Interest compounded and credited to your account every month.
  • No transaction limitations.
  • Access to funds by ATM or check.
  • Account is accessible through Online & Mobile Banking.

Features

  • FDIC insured up to $250,000.*
  • Statement options include eStatements / paper statements ($3.00 monthly). If the primary account owner is 70 years of age or older, the fee will be waived.
  • Unlimited in-person and ATM withdrawals.***
Open Today

Certificates of Deposit (CDs)

To open a CD, Open Online, call or visit your local financial center.

A CD offers a fixed interest rate over a specified term, offering a predictable return on investment. When you open a CD, you choose the term length, or how long you'll leave a set amount of money in the account. Overall, CDs are a great choice for investors looking for a safe place to invest their money while earning a predictable return.

 

Highlights

    • Fixed Interest Rates: CDs offer fixed interest rates that are higher than those of regular savings accounts. This allows savers to know exactly how much interest they will earn over the term of the CD. This predictability makes it easier for savers to plan for future financial needs and goals.
    • No Fees: Unlike some investment products, CDs do not come with management or administrative fees, allowing savers to keep more of their earnings.
    • Variety of Terms: CDs are available in a variety of terms. This flexibility allows investors to choose a term that aligns with their financial goals and liquidity needs.
    • Low Risk: CDs are considered low-risk investments because they are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum allowed by law.
    • Encourages Savings Discipline: Because CDs typically impose penalties for early withdrawal, they encourage savers to leave their money invested for the full term, promoting disciplined saving habits.
 

Earn 4.10% APY** when you open a 6-Month Make Life Better CD

with a $1,000 minimum deposit and a Ledyard checking account.

 

Open 6-Month CD
 

Earn 4.00% APY** when you open a 12-Month Make Life Better CD

with a $1,000 minimum deposit and a Ledyard checking account.

 

Open 12-Month CD
 

Earn 3.75% APY** when you open a 15-Month Make Life Better CD

with a $1,000 minimum deposit and a Ledyard checking account.

 

Open 15-Month CD
 

Compare Roth and Traditional IRA CDs

See which one is right for you****

Roth IRA CD

Traditional IRA CD

Main Features
  • Pay now, save later
  • Funded with after-tax dollars.
  • Earnings and qualified withdrawals are tax-free.
  • Contributions are not tax deductible.
  • Limitations apply
  • Earn now, pay later
  • Funded with pre-tax dollars.
  • Earnings are tax-deferred.
  • Contributions are tax-deductible up to certain income limits.
  • Limitations apply

Tax Considerations
  • Pay taxes now and get them out of the way.
  • Think your tax rate will be higher when you withdraw? Go with a Roth IRA.
  • Pay taxes later.
  • Think your tax rate will be lower when you withdraw? Choose a Traditional IRA.

Eligibility
  • Anyone with taxable earned income within IRS limits
  • (limits based on income and tax filing status).
  • Anyone with taxable earned income within the IRS limits
  • (income limits apply for tax-deductible contributions)

Making Withdrawals
  • Withdraw anytime.
  • Withdraw earnings without IRS penalty at age 59½ if your account is at least 5 years old.
  • Withdraw when you’re 59½
  • Withdraw contributions and earnings without IRS penalty at age 59½.
  • Distributions are required to start by age 70½ if you were 70½ by 12/31/2019. If you turn 70½ in 2020 or years following, distributions will not be required until you are age 72.

Other CD Offerings

  • Short and long-term investment options available
  • Minimum investment $500
  • Interest compounded daily and credited monthly
  • FDIC insured*
 

CDARS (Certificate of Deposit Account Registry Service)

A safe, convenient solution for large-deposit investors.

Until now, there were only three ways an investor could enjoy full FDIC insurance on deposits larger than $250,000: open and maintain accounts with multiple banks, invest with one bank by transferring ownership and registering accounts in the names of family members or corporate affiliates, or work through a broker-dealer.

Through CDARS, we can now place large deposits into smaller-denomination CDs at multiple institutions. This service can offer you significant benefits:

  • The safety of FDIC insurance for large deposits. Because funds are placed in FDIC-insured CDs that are issued by other financial institution Network members, your total deposits over $250,000 can be eligible for full FDIC coverage. Now you can make bank CD investments up to $1 million or more!
  • CD interest. Rates may compare favorably with those of other high-quality, fixed-income investments.
  • Interest-payment flexibility. You may choose to have interest paid monthly or at maturity.
  • Management convenience. You can manage all of your CD investments through a single relationship.
  • The security of working with a trusted, local source. Your transaction is managed by the people you know and trust here at Ledyard National Bank.

To open a Certificate of Deposit, use the quick links above, visit a financial center near you or call toll-free (888) 746-4562

 

* $250,000 FDIC coverage refers to the total of all deposits that an account owner has at each FDIC-insured bank, per ownership category.
 

**Annual Percentage Yields (APY) accurate as of 04/24/2025 and subject to change without notice. Make Life Better 6-month CDs with a 4.10% APY, 12-month CDs with a 4.00 % APY and 15-month CDs with a 3.75% APY require $1,000.00 minimum deposit and a Ledyard National Bank consumer checking account to open, fees may apply. Maximum deposit is $250,000. The minimum required to earn the annual percentage yield disclosed is $1,000. Make Life Better promotional CDs are available to consumers only. We reserve the right to change or discontinue this offer at any time. Penalty may apply for early withdrawal. Fees could reduce earnings on the account. Personal banking relationships within the retail bank are subject to FDIC insurance coverage limits.


***Usage at a non-Ledyard ATM will incur a $1.00 ATM debit item charge – except for Platinum Checking Account clients – and other institutions may impose an ATM fee.

****Please consult your tax advisor

How can we help you plan for what's next?

Let’s talk about how Ledyard Bank can support your financial journey. Contact us or open an account today—it’s fast, easy, and all about you.

Contact Us
live-smile-girl.png