Competitive 13-Month Penalty-Free CD at Community Bank of Tri-County in Maryland - Local Only

Community Bank of Tri-County is offering a 13-month special CD with a 1.70% APY. It has a no-penalty feature that allows a one-time penalty free withdrawal which can come in handy if interest rates rise in the next year. The downside is that it requires a checking account, but I was told any personal checking account qualifies. Minimum CD deposit is $500. There's also a special 30-month CD with a 2.20% APY. It has a one-time bump up rate option. The bank also has a competitive 18-month CD with a 2.05% APY. This is just a regular CD without any special feature. However, the IRA version of this CD allows additional deposits. These rates are listed in the bank's rates page as of 7/21/2010.

A branch visit is required to open an account. Branches are located in Southern Maryland.

The bank's rating for safety and soundness are above average: 5 stars (superior) at BauerFinancial, 3 stars (performing) at Bankrate.com and an overall health score of 3 out of 5 at DepositAccounts.com (see our financial overview of Community Bank of Tri-County). These ratings are based on 3/31/10 data except for Bankrate which is based on 12/31/09 data. The bank has been a FDIC member since 1957 (FDIC Certificate # 30903).

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