Maryland CD Interest Rates | 1-Month to 5-Year CDs for Maryland Consumers with Positive Credit Histories
If you live in Baltimore, Frederick, Silver Spring, Rockville, or any other city in Maryland, it’s important to conduct comparison research to ensure that you get the best CD rates in Maryland.
Of course, it isn’t always easy to set aside the time to sift through MD CD rates. Luckily, this article will give you all the information you need to find and get the best CD rates in MD.
Which Maryland City Are You Located In?
Below is a list of the ten largest cities in Maryland. Click here to go to the Maryland rates table displayed above, and to compare the best rates in Maryland on financial products.
Biggest Cities in Maryland
List of Available Certificate of Deposits in Maryland
Below are the types of Maryland CDs you can invest money in:
- 1-year CD
- 1-month CD
- 3-month CD
- 6-month CD
- 9-month CD
- 1-year jumbo CD
- 2-year CD
- 3-year CD
- 5-year CD
- 5-year jumbo CD
Aside from the best CD rates in Maryland, you may want to consider high-yield savings accounts in Maryland. Depending on the provider, many online high-yield savings accounts offer much higher rates than even the best CD rates in MD.
Tips for Getting the Best CD Rates in Maryland
Across the nation and in Maryland, CD rates are increasing, especially those that are offered by online banks.
Often providing more in returns than a savings account, certificates of deposit are popular savings products for Maryland residents, but it’s important to choose the right savings products and rates for your unique financial needs.
Read on to find tips for getting the best CD rates in Maryland to help your savings grow.
Know Your Finances
Before signing up for the best CD rates in MD, you’ll want to know exactly how much you can afford to set aside.
Some savings products and CD rates in Maryland will have minimum balance requirements, so the amount of cash you can set aside may play a large role in which CD you choose.
Keep in mind that any money put into a CD won’t be liquid for at least one year—or more—depending on the CD, so you’ll want to have a good handle on your finances before signing up for CD rates in Maryland.
Compare Multiple Products
When looking for the best CD rates in Maryland, your local bank is a good place to start, but it should not be the end-all solution.
With the rise of online banking, there are plenty of online banks offering competitive Maryland CD rates, often providing better rates than brick-and-mortar banks.
Credit unions are also great resources for CD rates in Maryland, since they operate as not-for-profit organizations and can often offer better rates as a result.
Look for Promotional Maryland CD Rates
The benefit to having local banks and credit unions to choose from is that these financial institutions often have promotions or special rates on CDs.
Some examples of potential discounts on the best Maryland CD rates include:
- Larger deposits
- Switching to electronic statements
- Senior citizens
- Residents of a specific county or city
Conclusion: Finding the Top CD Rates that Maryland Has to Offer
As you can see, there are a lot of great financial products and rates available to Maryland residents.
No matter what type of account you choose, a CD can be a great option for consumers that struggle with keeping their savings intact long enough for their account to grow.
Consider your financial goals, your current savings plan, and the best CD rates in Maryland to choose the best savings account for your personal financial goals.
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