Congressional Bank's CD Rates and Financial Information
Congressional Bank Main Address and Contact Information
7963 Tuckerman Lane
Potomac, Maryland 20854
Congressional Bank FDIC Certification Number
Rating: (4 out of 5)100
Notes: Open a CD Online Today! Member FDIC.
Congressional Bank CD Rates
Rates Updated: 06/23/2017
Articles Related to Congressional Bank
Top 2 Year CD Rate Now at 1.70 Percent
The top CD rates continue to move higher as the best 2 year CD rate hits 1.70 percent this week. 2 year CD rates at Connexus Credit Union take the top spot this week at 1.69 percent with a yield of 1.70 percent. Connexus has the best rate this week but two banks are right on the credit union's tail.
Northern Bank Direct, EverBank, and Popular Direct have the second best 2 year rate this week at 1.64 percent with a yield of 1.65 percent. We have another three-way tie for third place, My e-BAnC by BAC Florida Bank, TAB Bank, and VirtualBank all have a current 2 year rate of 1.61 percent with a yield of 1.62 percent.
Not only are the top rates moving higher this week, average 2 year CD rates are also higher. The current average 2 year CD rate is at 1.50 percent, up from last week's average 2 year rate of 1.47 percent. Listed below are the top ten 2 year CD rates for the week ending April 15, 2017.
Best 2 Year CD Rates
Slew of CD Rate Changes from Banks Prior to the Fed Funds Rate Increase
There has been a slew of CD rate changes from many different banks in our database this past week. A total of six banks changed some, if not all, of their CD rates. Only one bank, EverBank, changed a couple of their rates since the Federal Open Market Committee voted to increase the fed funds rate by 25 basis points.
It still stands to reason that several online banks that are offering the top online CD rates will increase their rates in the coming weeks. Major banks were quick to increase the prime rate they offer on loans but announced they wouldn't increase deposit rates.
The prime rate was increased at these banks:
Deutsche Bank, Citibank, U.S. Bancorp, JPMorgan Chase, HSBC, KeyCorp, M&T, BMO Harris Bank, SunTrust, Huntington Bancshares, PNC, Bank of America and BB&T.
It's no surprise these bigger banks are not going to increase deposit rates. They were offering very low rates because they have no interest in attracting deposits. A fed funds rate increase of 0.25 percent isn't going to change their rates. Listed below are all the certificate of deposit rate changes this past week.
Current CD Rates, the Calm Before the Storm
The next few months will be the calm before the storm regarding CD rates. Banks and credit unions will keep CD rates near current levels until the Federal Open Market Committee (FOMC) increases the federal funds rate. Our money is on the FOMC increasing the fed funds rate in the June meeting. Read more...
Synchrony Bank Increases 1 Year CD Rates to 1.23%
Synchrony Bank has increased their 1 year rates and now the bank has the second best 1 year bank CD rate on our list. The new 1 year CD rate at Synchrony Bank is at 1.22 percent with an APY of 1.23 percent. The old rate was at 1.19 percent with an APY of 1.20 percent. Read more...
CD Rates at Banks and Credit Unions March 24, 2015
There were no big moves in CD rates week over week, though that will change in the coming months. Last week the FOMC held their two day meeting and released statements pointing to a possible fed funds rate hike in June or September. Read more...
Unemployment Report Falls to 5.8% are Higher CD Rates on the Way?
Another economic report was released this morning showing an economy continuing to recover. This recovery process will eventually force CD rates higher. The Labor Department just released non-farm payrolls showing that 214,000 jobs were created in October, slightly lower than forecasts of 231,000. The unemployment rate fell from 5.9 percent to 5.8 percent, which is the lowest point in six years. The number of jobs created were slightly lower than forecast but the recovery remains intact. Read more...
Compare Congressional Bank's CD Rates With Other Bank Rates Below
Congressional Bank Financials