People's United Bank Certificate of Deposit

People's United Bank Certificate of Deposit Review

People's United Bank Certificate of Deposit are offered by People's United Bank, a bank founded in 1842 and based in Bridgeport, CT. People's United Bank CD are available in 6 states across the USA.

Key Takeaways

• Only one CD type available. People's United Bank CD only offers traditional CD accounts.
• Low APY. The maximum annual percentage yield for this account is only 0.4%.
• $500 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
• Wide selection of CD terms. People's United Bank CD allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.

Pros & Cons of People's United Bank Certificate of Deposit

People's United Bank Certificate of Deposit FAQ

Are CD from People's United Bank federally insured?

Yes, your People's United Bank CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #27334). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does People's United Bank offer?

• Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs for another term.

What rates does People's United Bank offer on its CDs?

People's United Bank CD offers an APY starting at 0.05% and ranging up to 0.4%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What is the minimum deposit to open a CD account with People's United Bank?

People's United Bank CD require a minimum deposit of $500 to open an account.

What is the grace period for People's United Bank CD?

People's United Bank CD does not specify what their grace period is. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does People's United Bank charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the term ends.

People's United Bank does not charge an early withdrawal fee.

People's United Bank does charge any of the fees we track.