Sandy Spring Bank Offers Competitive 27-month Premier CD Special


Availability: Market area includes portions of Maryland and Northern Virginia.

Sandy Spring Bank (MD) recently raised the rate on its 27-Month Premier CD Special (1.55% APY). The minimum opening deposit is $10K of new money, with a maximum opening deposit of $1M.

A checking account relationship with a minimum $100 monthly direct deposit (paycheck, pension, Social Security, etc.) is required to earn the stated APY. If the checking account does not receive a direct deposit, the 27-month Premier Special CD will revert to a regular 27-month CD, which currently earns 0.80% APY.

1.70%$10k-Sandy Spring Bank27 Month Premier CD Special
1.70%$10k-Sandy Spring Bank27 Month Premier IRA Special (Traditional, CESA)
Accounts mentioned in this post. Rates as of February 21, 2017.

As stated in Sandy Spring Bank’s Personal Account Deposit Agreement, the Early Withdrawal Penalty reads as follows:

All Accounts with a term of more than 1 year: A penalty equal to 180 days’ interest on the amount withdrawn (computed at the interest rate then being paid on the Account) will be imposed.

The 27-Month Premier CD Special is also available as an IRA (Traditional and CESA) at the same APY, with the same funding requirements. Sandy Spring Bank offers an attractive provision for IRA CDs:

If you are age 59 1/2 or more, for all fixed rate Certificates of Deposit with a term of 12 months or longer, the interest rate and corresponding annual percentage yield may be changed at your request once each term to the current rate and corresponding annual percentage yield being offered by us on the day we received your request for Certificates of Deposit of the same term.


Sandy Spring Bank’s market area includes the portions of Maryland and Northern Virginia that comprise the greater Washington, D.C. metropolitan area.

Opening a CD at Sandy Spring Bank can be done online, or at any of 39 Maryland branches located in Annapolis, Ashton, Bethesda (2), Burtonsville, Clarksville, Colesville, Damacus, Edgewater, Frederick (4), Gaithersburg (4), Germantown, Glen Burnie, Lanham, Laurel (2), Linthicum, Millersville, Mount Airy, Odenton, Olney (2), Pasadena, Potomac, Rockville (2), Sandy Spring, Silver Spring (4) and Woodbine, or seven Virginia branches located in Arlington, Chantilly, Fairfax, Leesburg (2), Springfield, and Vienna.

Bank Overview

Sandy Spring Bank has an overall health grade of "A" at, with a Texas Ratio of 6.01% (excellent), based on December 31, 2014 data. In the past year, Sandy Spring Bank has increased its total deposits by $189.2 Million, an excellent annual growth rate of 6.56%. Please refer to our financial overview of Sandy Spring Bank for more details.

Sandy Spring Bank (FDIC Certificate # 4865) has a history that reaches back to the troubled economic times of post-Civil War 1868. Although less than 25 miles from Washington, D.C., the community of Sandy Spring might as well have been 2,500 miles from the financial institutions in the nation’s capital. A group of local business and townspeople realized that answer to their financial needs had to come from within the community, and Sandy Spring Bank was established. Nearly 150 years later, Sandy Spring Bank has assets in excess of $4.3 Billion and named by Forbes Magazine as one of the top 100 "Most Trustworthy" corporations in America for integrity in financial reporting.

How the CD Compares

When compared to other similar length-of-term CDs tracked by, that require a similar minimum deposit and are available to Maryland and Virginia residents, Sandy Spring Bank’s 27-month Premier CD Special is clearly competitive.

The above rates are accurate as of 3/16/2015.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.

$100 Checking Account Bonus at Sandy Spring Bank in MD & VA

Sandy Spring Bank is offering a $100 bonus for opening any of its personal checking accounts and establishing direct deposit. The promotion is scheduled to last until 10/31/2012. The offer is listed at the bank's personal checking page. Below is the small print of the offer:

The bank does offer a free checking account with no monthly service fees. The bank is a member of the Allpoint ATM network which gives customers surcharge-free access to ATMs nationwide. For more checking account details, refer to the bank's checking comparison chart.


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  • Receive $100 when you establish and maintain direct deposit. Minimum direct deposit to qualify is $500 in each monthly statement cycle from a paycheck, pension, social security or other regular monthly income...
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