CT Department of Banking: Minimum Interest Rates for Security Deposits and Mortgage Escrows

The Connecticut Department of Banking has released new minimum statutory interest rates for mortgage escrows and residential tenant security deposits.  See Conn. Gen. Stat. §§ 49-2a and 47a-21(i), respectively.

The 2024 minimum interest rate for residential tenant security deposits is 0.55%. The minimum interest rate for mortgage escrow accounts is 0.6%.