Maryland Savings Rates - September 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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The best savings rates for Maryland include Andrews Federal Credit UnionAndrews Federal Credit Union5711 Allentown Rd, Suitland, MD 20746A5.0 ★Texas Ratio: 9.39%Real return: +2.20%APY minus 2.8% CPI (February 2026) Online Savings Account at 5.00% APY, Har-co Credit UnionHar-co Credit Union30 N Hickory Ave, Bel Air, MD 21014 3249A+5.0 ★Texas Ratio: 3.63%Real return: +2.20%APY minus 2.8% CPI (February 2026) Youth Savings at 5.00% APY, Primis BankPrimis Bank14804 Pratt St, Upper Marlboro, MD 20772A-5.0 ★Texas Ratio: 14.15%Real return: +1.20%APY minus 2.8% CPI (February 2026) Primis Business Savings at 4.00% APY, Northrop Grumman Federal Credit UnionNorthrop Grumman Federal Credit Union999 Corporate Blvd, Linthicum Heights, MD 21090A5.0 ★Texas Ratio: 7.94%Real return: +1.04%APY minus 2.8% CPI (February 2026) IRA Savings at 3.84% APY, and Capital Area Realtors Federal Credit UnionCapital Area Realtors Federal Credit Union15201 Diamondback Dr, Rockville, MD 20850 3312A-5.0 ★Texas Ratio: 15.35%Real return: +0.99%APY minus 2.8% CPI (February 2026) Savings Account at 3.79% APY.
Use the tables below to compare savings rates across Maryland side-by-side. Maryland savings rates currently reach as high as 5.00% APY from Andrews Federal Credit Union at 5711 Allentown Rd, Suitland, MD 20746. Rates are continually updated, so we recommend checking back frequently.
Savings rates reflect recent market quotes and representative offers available to depositors in Maryland and the surrounding area. Last Updated and Verified: September 21, 2026
Compare the Best Savings Rates in Maryland
Balance: $.01 - 1,000.00
We'll give you $10 to get started! An extra birthday gift on top of their birthday deposits - When they deposit $25 or more within 30 days of their birthday, we'll deposit $10 in their savings. Free Greenlight subscription included!
Rates are accurate as of 7/1/2025 and may change after the account is opened. This account is only available online.
Variable interest rate. Rates effective 12/01/2025, and may change at any time. Fees may reduce earnings. This account is only available online.
Balance: 60 Month
Balance: 36 Month
Balance: 24 Month
Earn Up To 0.10%
Balance: 12 Month
Earn 3.75% APY* on Daily Balances when you Maintain an Advantage Checking Account. Earn 3.25% APY* without an Advantage Checking Account.
Balance: $0.01
Balance: $100,000 and over
Balance: $250,000+
Earn 3.75% APY* on Daily Balances when you Maintain an Advantage Checking Account. Earn 3.25% APY* without an Advantage Checking Account.
Balance: $0.01 - $250,000
Balance: $5.00 to $19,999
APY (Annual Percentage Yield) is variable and effective 9/18/2026. No fees. No minimums. No worries. Your balance is FDIC-insured up to the allowable limits. Unlike tiered savings accounts, Capital One's 360 Performance Savings account offers the same high-yield savings rate on your entire balance, so you earn the same great rate whether you're just starting out or have substantial savings. Interest accrues daily and compounds monthly.
For members with the youth account type Choices only.; Balance: $0.01 - $1,500.00
Balances up to $20,000.00; Available to all 10 month employees in education (public or private, Harford County or beyond).
Qualifying balance up to $20,000.00; $5 - $20,001 will earn 3.00% APY; over $20,001 will earn 0.25% APY. Member must live, work, or attend school or church in Harford County or have immediate family at Har-co
Balance: $1,000,000.00 and above
Balance: $1,000,000.00 and above
Balance: $750,000.00 - $999,999.99
Balance: $500,000.00 - $749,999.99
Balance: $1,000,000; Compounding Frequency: Daily
Balance: $750,000.00 - $999,999.99
Balance: $250,000.00 - $499,999.99
Balance: $500,000.00 - $749,999.99
Balance: $10,000 - $99,999
$5 minimum balance to open
Available to Baltimore County and Harford County school employees in the public and private sector; Balance: $1-$10,000
Balance: $250,000.00 +
Balance: $250,000.00 - $499,999.99
Balance: $0 - $9,999
Compounding Frequency: Daily
Balance: $150,000.00 - $249,999.99
Balance: First $500
Balance: $0.01 - $100,000.00; Non-compounding APY; Rewards of less than a penny cannot be distributed; Fees may reduce earnings; Limit of 1 account(s) per social security number; No recurring monthly maintenance charges or fees to open or close this account; An Advantage Rewards account is required to have an Advantage Savings account; A linked Advantage Savings account is required for automatic savings; Advertised information and rewards are based on all account qualifications being met during each cycle period.
Balance: $75,000.00 - $149,999.99
Balance: On balances above $25,000 and up to $50,000
Balance: $100,000.00 - $249,999.99
Balance: $50,000.00 - $99,999.99
Balance: $0.01 - $100,000
Balance: $25,000.00 - $74,999.99
Balance: $0.00 - $50,000.00
Balance: $500,000; Compounding Frequency: Daily
Balance: Tier 6
Balance: Tier 5
Balance: Tier 4
Balance: $50,000.01 - $100,000.00
Compounding Frequency: Daily
Balance: Tier 3
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution’s data, please contact us here.
Maryland Savings Rate Trends
Compare local Maryland savings rate quotes against the statewide average
Daily savings rate averages tracked across our database of 8,500+ banks and credit unions, updated every evening.
Maryland high-yield savings rates rose 0.110 points over the past 7 days to 1.968% APY, up from 1.858%.
Maryland standard savings rates rose 0.013 points over the past 7 days to 0.814% APY, up from 0.801%.
Maryland Savings Rate Forecast, Next 12 Months
Savings rates move with Federal Reserve policy. Our model uses the current MD high-yield average and a Fed funds spread to project the likely rate trajectory for 2026–2027.
Savings account rates are variable and move in close correlation with the Federal Reserve’s federal funds rate target. Our 12-month forecast is derived from the current MD high-yield savings average of 1.968% APY and a Fed funds spread model calibrated to the historical relationship between policy rate changes and deposit rate adjustments at banks and credit unions.
Key assumptions: the Federal Reserve holds the federal funds rate at its current level over the next 12 months, with the possibility of one 25 basis point increase; deposit rates at banks and credit unions track policy-rate changes within 60–90 days. High-yield online savings rates tend to adjust faster than standard branch-based savings rates.
Important notice: This forecast is for informational purposes only and should not be used as the sole basis for financial decisions. Rate forecasts carry significant uncertainty. The actual trajectory will depend on Federal Reserve decisions, economic conditions, and competitive dynamics among financial institutions in Maryland.
Savings Account Earnings in Maryland
Annual interest earnings at current MD average APYs, based on the high-yield and standard savings averages tracked in our database. Compounding assumed monthly.
| Balance | HY Savings (1.968% APY) | Monthly Earnings | Standard Savings (0.814% APY) | Monthly Earnings |
|---|---|---|---|---|
| $5,000 | $98.41 / year | $8.20 | $40.68 / year | $3.39 |
| $10,000 | $196.82 / year | $16.40 | $81.36 / year | $6.78 |
| $25,000 | $492.05 / year | $41.00 | $203.40 / year | $16.95 |
| $50,000 | $984.10 / year | $82.01 | $406.80 / year | $33.90 |
| Earnings estimates use daily compounding. Actual earnings depend on exact rate, compounding frequency, and daily balance maintained. Rates are variable and subject to change. Source: Maryland savings rate averages as of September 22, 2026. | ||||
About Our Maryland Savings Rate Database
MonitorBankRates tracks 204 savings rates from 10 banks and 14 credit unions offering savings accounts to Maryland residents, including community institutions, regional banks, and national online options. Our proprietary aggregation system pulls verified rate data directly from each institution’s official website, no estimates, no national averages passed off as real offers.
Every rate listed includes the institution’s Safety Grade (A+ to F), Star Rating (1–5), and Texas Ratio, objective financial health metrics calculated from FDIC and NCUA regulatory data, so you can compare yield and institutional safety in one place.
Current top rate: Andrews Federal Credit Union offers a savings account at 5.00% APY. Use the rate table above to compare all current offers in Maryland.
How to Find the Best Savings Rates in Maryland
What to compare when shopping for a savings account in Maryland
To find the best savings APYs in Maryland, start with credit unions and online-only banks: Maryland has 14 credit unions in our database, and they consistently offer some of the highest yields because they are member-owned nonprofits with lower overhead than traditional banks.
Always compare the APY (Annual Percentage Yield), not just the interest rate. APY reflects compounding and is the true measure of what you’ll earn. Savings accounts that compound daily earn slightly more than those compounding monthly at the same stated rate. The current MD high-yield savings average is 1.968% but top local institutions are offering as high as 5.00%, so shopping around pays off.
Unlike a CD, savings account rates are variable. Your rate can change at any time with Federal Reserve policy. Many institutions offer elevated introductory rates that reset after a promotional period. Review your account periodically to ensure your APY remains competitive.
When a High-Yield Savings Account Makes Sense
- Emergency fund: Financial experts recommend 3–6 months of expenses in a liquid, FDIC-insured account. Maryland high-yield savings rates currently average 1.968% APY, far above a typical checking account.
- Short-term savings goals (6–24 months): If you may need the money soon, a savings account gives you immediate access without early withdrawal penalties.
- Parking cash between investments: A high-yield savings account at Maryland institutions keeps idle cash working harder while remaining fully accessible.
- You prefer banking locally: 24 institutions in Maryland report savings rates to our database.
- No rate lock-in risk: Unlike a CD, your rate moves up with the market if rates rise further.
Consider an Alternative If…
- You want a locked-in, guaranteed return → Maryland CD rates
- You want check-writing flexibility → Maryland money market rates
- You need daily transaction access → Maryland checking rates
Maryland Financial Snapshot
Local demographics and economic context for savers. Source: U.S. Census Bureau
16.7% of residents are 65 or older, below the national average of 17.3%. At today’s MD high-yield savings average of 1.968%, saving 10% of the local median salary ($5,698/year) would earn an additional $112 annually in interest.
Data: U.S. Census Bureau and U.S. Bureau of Labor Statistics.
Savings Accounts vs. Other Maryland Options
How high-yield savings accounts compare to other deposit products available at banks and credit unions in Maryland.
| Feature | High-Yield Savings | Standard Savings | Money Market | CD (12-Month) |
|---|---|---|---|---|
| Current MD Avg APY | 1.968% | 0.814% | View MMA Rates | View CD Rates |
| Rate Type | Variable | Variable | Variable | Fixed for term |
| FDIC / NCUA Insured | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K | ✓ Up to $250K |
| Withdraw Anytime | ✓ Yes | ✓ Yes | ✓ Yes | ✗ Penalty applies |
| Check Writing | ✗ No | ✗ No | ✓ Often yes | ✗ No |
| Debit / ATM Card | Some institutions | ✗ Rarely | ✓ Often yes | ✗ No |
| Typical Min Deposit | $0 – $100 | $25 – $100 | $0 – $2,500 | $500 – $1,000 |
| Rate Risk | Variable, moves with Fed policy | Variable, moves with Fed policy | Variable, moves with Fed policy | None, locked for term |
| Best For | Emergency fund, short-term goals, parking cash | Everyday saving, low-balance accounts | Active savers wanting flexibility + check writing | Locking in a rate for a defined period |
APY data reflects Maryland averages tracked in our database as of September 22, 2026. Rates are variable and may differ by institution. See individual product pages for full details.
Savings Calculators for Maryland
At MD’s top rate of 5.00% from Andrews Federal Credit Union, a $10,000 deposit earns $500 annually. Enter your balance to see your exact return.
Savings Goal CalculatorA 3-month emergency fund for the median Maryland earner is roughly $14,200. At 1.968% APY, saving $1,190/month gets you there in about 12 months. Set your target and see your exact timeline.
CD vs. High-Yield SavingsMaryland’s high-yield savings average is 1.968% APY, variable and always accessible. A local CD may offer a higher fixed yield in exchange for locking in your deposit. Compare both side-by-side to find the better fit for your timeline.
Budget CalculatorBefore you can grow your savings, you need to know how much you can set aside each month. The median Maryland earner makes $56,984/year. Track your income vs. expenses to find your monthly surplus, then put it to work at 1.968% APY.
Retirement PlannerA $25,000 high-yield savings balance earning 1.968% APY grows to roughly $36,918 over 20 years with compounding. See how your current savings trajectory lines up with your retirement income needs.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Maryland savings rate tables are free for consumers to use, and we do not receive payment from any financial institution to be included or to be ranked in any particular order. Listings are based solely on the rates each institution publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Savings Rate Data: We aggregate savings account rates for Maryland directly from the official websites of banks and credit unions using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every savings rate displayed on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available yields in Maryland. We feature a comprehensive mix of institutions, from neighborhood credit unions and competitive regional banks to large national institutions available to savers in MD.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update savings rates daily. Because savings account yields can fluctuate rapidly, every product listed features its own specific “last updated” date, giving you complete transparency.
Frequently Asked Questions about Savings Accounts in Maryland
What is a High-Yield Savings Account (HYSA)?
Are savings accounts in Maryland safe?
How often do savings rates change in Maryland?
Do I need a minimum deposit to open a savings account?
What is the difference between a Savings Account and a Money Market Account?
Are online banks better than local banks in Maryland?
How do I open a savings account in Maryland?
Best Savings Rates in Maryland
- Andrews Federal Credit Union
Online Savings Account: 5.00% APY - Har-co Credit Union
Youth Savings: 5.00% APY - Primis Bank
Primis Business Savings: 4.00% APY - Northrop Grumman Federal Credit Union
IRA Savings: 3.84% APY - Capital Area Realtors Federal Credit Union
Savings Account: 3.79% APY
Cities in Maryland
