To promote the inauguration of the new president a review of the best CD rates in Washington, D.C is fitting.  EagleBank is a local community business bank with fifteen offices in Montgomery County, MD, Northern Virginia and Washington, DC. and happens to offer some great CD rates.

EagleBank was founded in 1998 and is based in Bethesda, Maryland.  The bank is a commercial bank that offers a complete line of personal and business banking services.  The bank’s services include savings, checking, money market, and asset management accounts, certificates of deposits, personal and home equity loans, business lending, and cash management.

The bank offers very competitive certificates of deposit with terms from 3 to 60 month, as well as some CDs with special features.  There is an 18/12 month no penalty CD that lets the accountholder withdraw funds prior to maturity date, a 9-month penalty-free CD, and another one that lets the CD accountholder bump up the interest rate during the term.

CD rates and terms that are currently available include the following:

A 3-5 month CD that has an interest rate of 1.25% APY.
A 6-8 month CD which earns an interest rate of 1.50% APY.
A 9-11 month CD with an interest rate of 2.25% APY.
A 12-17 month CD that yields an interest rate of 2.50% APY.
A 13 month CD with an interest rate of 2.50% APY.
An 18-23 month CD that also has an interest rate of 2.50% APY.
A 9 month – penalty free CD that earns an interest rate of 2.15% APY.
An 18/12 months – no penalty CD which earns an interest rate of 2.50% APY.
An 18 month one up CD that yields a rate of 2.50% APY.
The 24 month to 60 month CDs all now earn an interest rate of 2.50% APY.

Interest on the CDs is compounded daily.  Interest is credited by the bank at three month intervals from the opening date of the CD.  At the CD accountholders option, an interest check can be mailed monthly, or can be credited to another EagleBank deposit account.

All certificates of deposit have a minimum deposit requirement of $1,000.00, except the 18/12-month, no penalty CD which has a minimum deposit of $50,000.00.

CD interest rates are subject to change without notice.  For further information on the bank CD rates or additional bank products, the bank can be reached by phone at 301-986-1800 or through the bank web site at www.eaglebankmd.com.

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