State of Connecticut Department of Banking

Martin Luther King, Jr. Corridor Designation - Request for Information The Department of Banking is seeking applications for the designation of "Martin Luther King, Jr. (MLK) Corridors" to promote secured and unsecured lending in the state with the intention of stimulating economic development within those corridors. More information may be found here. Apply via the DAS CTSouce Bid Board, type DOB-24084 in the search field.

Deposit Index and Interest Rates

Pursuant to Connecticut General Statutes § 36a-26, the Commissioner has determined the deposit index for the calendar year 2024 to be 0.55%.

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Interest Rates for Calendar Year 2024

Account

Statutory Reference

Interest Rate
Rental Security Deposits

Interest Calculation Table

 47a-21(i) 0.55%
Claims for property, funds, or money delivered to the State Treasurer 3-70a(e) 0.55%
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)		 0.6%
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) 2023 is 0.27%; CY 2022 is 0.06%; for CY 2021 is 0.08%; for CY 2020 is 0.15%; for 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%.