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Cumberland, Maryland CD Rates – 6-Month 2020

Below are the best six-month CD Rates from banks with branches in Cumberland, Maryland . Six month CDs are considered short-term cds and the yield is comparable to savings and money market rates. You may want to consider opening a 6 month CD if you are concerned about savings rates dropping and don’t mind locking up your money for six months.

Cumberland, MD - April 9, 2020

6 Month CD National Average : 0.44% ?

Advertiser Disclosure
Banks APY MIN MILES ?
1.76% $5,000 4872.44
1.25% $500 4900.05
1.10% $1,000 4894.07
1.00% $500 4876.70
0.80% $1,000 4898.32
0.75% $500 4862.41
0.75% $1,000 4893.98
0.75% $1,000 4878.78
0.75% $500 4903.69
0.70% $500 4900.49
0.65% $100,000 4900.84
0.65% $2,500 4873.35
0.60% $1 4892.79
0.60% $1,000 4867.74
0.60% $1,000 4880.12
0.55% $7,500 4882.51
0.51% $500 4882.67
0.50% $2,500 4900.84
0.50% $500 4941.07
0.50% $100,000 4878.78
0.50% $1,000 4894.46
0.50% $1,000 4888.38
0.50% $1,000 4873.24
0.50% $2,500 4890.74
0.45% $1,000 4875.31
0.40% $90,000 4857.31
0.40% $1,000 4794.50
0.40% $100,000 5012.74
0.35% $100,000 4894.34
0.30% $10,000 4857.31
0.30% $500 4810.41
0.30% $100,000 4803.70
0.30% $2,500 4800.39
0.30% $1,000 5012.74
0.30% $1,000 4894.34
0.30% $1,000 5012.81
0.30% $500 4882.61
0.30% $2,500 4872.29
0.25% $1,000 4894.33
0.25% $500 4852.95
0.25% $10,000 4905.73
0.25% $100,000 4883.20
0.25% $500 4908.88
0.25% $1,000 4781.31
0.25% $1,000 4830.88
0.25% $100,000 4947.26
0.25% $1,000 4786.07
0.20% $500 4924.82
0.20% $500 4876.13
0.20% $500 4880.21
0.20% $10,000 4883.20
0.20% $1,500 5009.92
0.20% $500 4850.95
0.15% $500 4916.04
0.15% $500 4804.45
0.15% $1,000 4931.58
0.15% $1,000 4803.70
0.15% $1,000 4899.11
0.15% $1,000 5012.82
0.14% $2,000 -
0.12% $100,000 4882.31
0.12% $5,000 4857.39
0.10% $1,000 4872.44
0.10% $500 4904.16
0.10% $500 4884.65
0.10% $1,000 4886.45
0.10% $500 4968.32
0.10% $2,000 4947.26
0.10% $10,000 4884.54
0.10% $1,000 4996.27
0.10% $500 4894.17
0.08% $10,000 4882.31
0.05% $10,000 4867.25
0.05% $10,000 4907.18
0.05% $500 4833.36
0.05% $500 4804.86
0.03% $10,000 4884.65
All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

6 Month Branch Certificates of Deposit 2020

Six month certificates of deposit (CDs) provide depositors with a short term vehicle for keeping money safe and earning interest. With a six month CD, depositors agree to leave their money in the account for six months in return for a fixed rate of interest over this period. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.

In general, almost all brick-and-mortar banks provide CDs to their consumers. Opening one involves taking a trip to the branch although some banks allow CDs to be opened via the phone or online. In general, local banks discourage depositors from out-of-state to open accounts, although this is not a hard rule and if you see an attractive rate from a bank in another state, it is worth investigating the account opening policy. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.

The advantages of six month CDs opened via a traditional bank are:

  • Funds deposited in FDIC banks and within insurance limits are protected by the full faith and credit of the United States government.
  • CDs provide a predictable, set rate of return.
  • Depositors can walk into a local branch and open the CD and fund it that day. Question and inquiries can also be handles in-person.

The disadvantages of six month CDs are:

  • Six month CDs currently pay interest rates significantly below many online and branch-based savings and money market accounts.
  • The deposited money is committed for six months.
  • Six month CDs from traditional banks often pay less interest than from online banks.

When interest rates are falling, it is often preferable to lock in high rates for an extended period of time with a longer-term CD. When interest rates are rising, depositors should avoid committing their money for long periods of time. To see interest rate trends, visit the BestCashCow rate analysis page.

All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

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