NOTICE: In accordance with Governor Lamont's emergency declaration, employees and the public are asked to observe social distancing measures to ensure communal safety and to slow the spread of the novel coronavirus (COVID-19). People are asked to work from home and telecommute wherever possible. Adhering to these instructions, the Department of Banking has closed its offices to the public. However, agency staff will continue to provide services to consumers and industry through telework. When contacting the Department, please use electronic communication whenever possible. Agency staff will continue to check voicemails during this time. Consumers are encouraged to use our online form for complaints. If you are unsure where to send an inquiry, you may send it to Department.Banking@ct.gov and it will be routed appropriately. Thank you for your patience during this time.

Deposit Index and Interest Rates

Pursuant to Connecticut General Statutes § 36a-26, the Commissioner has determined the deposit index for the calendar year 2020 to be 0.15%.

Interest Rates for Calendar Year 2020

Account

Statutory Reference

Interest Rate

Rental Security Deposits

Interest Calculation Table

47a-21(i) 0.15%
Claims for property, funds, or money delivered to the State Treasurer 3-70a(e) 0.15%
Mortgage escrow accounts
49-2a
(section requires that the interest rate be not less than the deposit index, rounded to the nearest one-tenth of one percentage point)
0.20%
Public service company, certified telecommunications provider and electric supplier customer security deposits 16-262j(c)
(section requires that the interest rate be not less than the higher of the deposit index, rounded to the nearest one-tenth of one percentage point, or 1.5%)
1.5%
 
Previous Interest Rates 

Previous Interest Rates for rental security deposit and claims for property, funds, or money delivered to the State Treasurer; public service company, certified telecommunications provider and electric supplier customer security deposits; and mortgage escrow accounts.
 

Previous Deposit Indexes

The deposit index for calendar year (CY) 2019 is 0.15%; for CY 2018 is 0.09%; for CY 2017 is 0.08%; for CY 2016 is 0.08%; for CY 2015 is 0.08%; for CY 2014 is 0.09%; for CY 2013 is 0.11%; for CY 2012 is 0.16%; for CY 2011 is 0.28%; for CY 2010 is 0.34%; for CY 2009 is 0.60%; for CY 2008 is 0.94%; for CY 2007 is 0.94%; for CY 2006 is 0.76%; for CY 2005 is 0.53%; for CY 2004 is 0.55%.