Maryland certificate of deposit rates remain very competitive with most CD terms matching the best national rates and in the case of the five year term, going above the best national rates by a large margin.  The highest CD rate with a six month term in Maryland is shared by two banks, United Central Bank and Severn Savings Bank, with rates of 2.25%.  Five basis points lower is the nine month CD of Arundel Federal Savings Bank that has an interest rate of 2.20%.

The best one year CD rate in Maryland is once again the product of Urban Trust Bank with a one year CD that yields 2.75%.  A full 15 basis points lower than this rate is the one year CD of Harvest Bank of Maryland that has an interest rate of 2.60%.  Queenstown Bank of Maryland jumps into third place with an odd month CD that matures in 15 months and has an interest rate of 2.52%.  Three banks, Community Bank of Tri-County, Homewood Federal Savings Bank and United Central Bank wrap up this list with CD rates at 2.50%.

The best two year CD rates in Maryland are once again led by Urban Trust Bank with a rate of 2.85%.  The list also includes the three year CD of Old Line Bank since the rate is measurably higher than any other bank CD in this term range.  Old Line Bank offers a three year CD with a rate of 3.50%.  Some of our competitors don’t have any banks in Maryland that offer CD rates above 3.00%, somehow.  The next best CD rate is the product of Queenstown Bank of Maryland which offers a 21 month term CD with an interest rate of 2.78%.  Bank of Georgetown and St. Casimir’s Savings Bank follow with CD rates set at 2.75%.

The best five year CD rate is Maryland making the average investor ponder moving their residence to the home of the blue crab.  The highest five year CD rate in Maryland looms over all other banks with the 4.50% rate promoted by Urban Trust Bank.  Well behind this rate but still an unusually high rate is the five year CD of Old Line bank that yields 4.00%.  Bank of Georgetown follows with a five year CD rate of 3.75%.

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