Connecticut’s retail banking interest rates, minimum balance requirements, and various fees make the state the third-least affordable for banking customers, according to a survey by GoBankingRates.com
The worst market was Arizona, followed by Washington, D.C.
Connecticut’s average checking and savings account rates were 0.085 percent and 0.056 percent, respectively. Its average minimum checking account balance requirement to receive interest or avoid a monthly fee was $3,109, while the average minimum savings account balance was $1,457.
The average returned-check fee for non-sufficient funds was $34, while the average monthly maintenance fee for checking and savings accounts were $12 and $4, respectively.
The best banking market in the survey was Arkansas, which had average checking and savings rates of 0.302 percent and 0.137 percent, and an average minimum checking balance of $2,366.
GoBankingRates.com is owned by California-based ConsumerTrack Inc. The survey used data from the website’s own database and fee information from RateWatch.
