You are viewing rates across Maryland
Below are the best one year CD Rates from banks in Maryland. One year CDs are usually the most popular term and offer a decent yield without having to lock-up money for an extended period of time. One year CD Rates are generally comparable to or a little higher than their savings and money market counterparts.
MD - August 24, 2016
1 Year CD National Average : 0.38% ?
|Beal Bank Usa||1.01%||$1,000||-|
|Presidential Bank, Fsb||0.95%||$1,000||-|
|Hsbc Bank Usa, National Association||0.90%||$1,000||-|
|John Marshall Bank||0.85%||$500||-|
|Capital One, National Association||0.75%||$1,000||-|
|New Windsor State Bank||0.60%||$500||-|
|Sandy Spring Bank||0.55%||$1,000||-|
|Arundel Federal Savings Bank||0.55%||$25,000||-|
|Madison Bank Of Maryland||0.55%||$500||-|
|Severn Savings Bank, Fsb||0.55%||$100,000||-|
|Frederick County Bank||0.55%||$100,000||-|
|New Windsor State Bank||0.50%||$500||-|
|The Farmers Bank Of Willards||0.50%||$1,000||-|
|The Bank Of Delmarva||0.50%||$500||-|
|Old Line Bank||0.50%||$500||-|
|Arundel Federal Savings Bank||0.50%||$10,000||-|
|Rosedale Federal Savings And Loan Association||0.50%||$500||-|
|Midstate Community Bank||0.50%||$1,000||-|
|North Arundel Savings Bank, Fsb||0.50%||$1,000||-|
|Carroll Community Bank||0.50%||$500||-|
|Td Bank, National Association||0.45%||$100,000||-|
|Frederick County Bank||0.45%||$1,000||-|
|Hebron Savings Bank||0.40%||$500||-|
|The Queenstown Bank Of Maryland||0.40%||$500||-|
|Damascus Community Bank||0.40%||$1||-|
|First Mariner Bank||0.40%||$500||-|
|Severn Savings Bank, Fsb||0.40%||$1,000||-|
|Bay-vanguard Federal Savings Bank||0.40%||$1,000||-|
|Capital Bank, National Association||0.40%||$500||-|
|Farmers And Merchants Bank||0.35%||$100,000||-|
|Somerset Trust Company||0.35%||$5,000||-|
|Bank Of Hampton Roads||0.35%||$500||-|
|First National Bank Of Pennsylvania||0.30%||$500||-|
|Provident State Bank, Inc.||0.30%||$1,000||-|
|The Bank Of Glen Burnie||0.30%||$500||-|
|Td Bank, National Association||0.30%||$10,000||-|
|Standard Bank, Pasb||0.30%||$1,000||-|
|Cfg Community Bank||0.30%||$500||-|
|Farmers And Merchants Bank||0.25%||$500||-|
|Miners & Merchants Bank||0.25%||$100,000||-|
|Middletown Valley Bank||0.25%||$1,000||-|
|Virginia Partners Bank||0.25%||$1,000||-|
|Pnc Bank, National Association||0.22%||$100,000||-|
|Clear Mountain Bank||0.20%||$500||-|
|Calvin B. Taylor Banking Company Of Berlin, Maryland||0.20%||$1,000||-|
|The Peoples Bank||0.20%||$5,000||-|
|Miners & Merchants Bank||0.20%||$1,000||-|
|The Harbor Bank Of Maryland||0.20%||$500||-|
|The Columbia Bank||0.20%||$500||-|
|Community Bank Of The Chesapeake||0.20%||$500||-|
|Eastern Savings Bank, Fsb||0.20%||$100,000||-|
|County First Bank||0.20%||$1,000||-|
|Pnc Bank, National Association||0.18%||$10,000||-|
|Pnc Bank, National Association||0.17%||$100,000||-|
|First United Bank & Trust||0.15%||$1,000||-|
|Citibank, National Association||0.15%||$10,000||-|
|Jefferson Security Bank||0.15%||$500||-|
|Cnb Bank, Inc.||0.15%||$500||-|
|Woodforest National Bank||0.15%||$500||-|
|Chesapeake Bank Of Maryland||0.15%||$1,000||-|
|First Shore Federal Savings And Loan Association||0.15%||$500||-|
|Eastern Savings Bank, Fsb||0.15%||$1,000||-|
|Bay Bank, Fsb||0.15%||$500||-|
|Pnc Bank, National Association||0.13%||$10,000||-|
|Manufacturers And Traders Trust Company||0.10%||$1,000||-|
|Branch Banking And Trust Company||0.10%||$10,000||-|
|Bank Of America, National Association||0.07%||$5,000||-|
|Bank Of America, National Association||0.05%||$10,000||-|
|Wells Fargo Bank, National Association||0.05%||$10,000||-|
|Hsbc Bank Usa, National Association||0.01%||$1,000||-|
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A certificate of deposit (CD) is a savings product offered by a bank in which a depositor (someone who has money to put into the bank) agrees to commit a certain amount of money for a set period of time, in return for a fixed rate of interest. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.
The time period in which money is held in a certificate of deposit is called the term. Terms can run for any period of time but in general, banks use the following terms: 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months. Terms can either be described in months or years. The term that is right for each individual depends on their goals, the rate they which to earn, and their future plans for the money. In general, if rates are going up, savers should avoid putting the money into a long-term CD. If rates are going down, then the opposite is true, and savers should try and lock into a good rate for an extended period of time. In stable rate environments, CDs that are over 12 months in length can enable depositors to pick up a slight premium over savings accounts.
Almost all banks provide CDs to their consumers and they have been a mainstay of savers and retirement accounts for years. If FDIC insured, the CD represents a safe place to put money that will generate a predictable return.
Inflation is the main risk of a CD. Inflation can often run higher than the inflation adjusted return on a CD, thus eroding the value of the money stored in the CD over time. This is especially true for longer-term CDs opened in low interest rate environments.
The method of distributing the interest earned on a CD varies by bank. Some banks pay interest monthly, other semi-annually, and others at the maturity of the CD. One advantage of a branch-based bank is that a depositor can walk into the bank and receive their interest that day in the form of a check. Online banks tend to use electronic funds transfer or check via mail.
Since the financial crisis in 2008, CDs have become less popular because the yields they offer have dropped precipitously, making it difficult for retirees and savers to generate sufficient income. But investors looking for a place to stash some cash might still find CDs an attractive place for some of their savings. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.
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, you visit the FDIC website.
To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.
Find out how much extra money you can earn by moving your bank money into an account that pays more.
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