Bank of Georgetown, a local bank in Washington DC, is offering a promotional 5.50% APY 4 Month CD Rate. Details:

Annual Percentage Yield (APY) assumes principal and interest will remain on deposit for the entire term. Withdrawal of interest reduces earnings and APY. APY is current 6/30/06 and subject to change. A penalty may be imposed for early withdrawal. Minimum deposit of $1000.00 is required. Fees may reduce earnings on the account.

Bank of Georgetown is a community bank that was opened very recently, as far as banks go. FDIC insured for up to $100,000. It looks as though they currently have 3 branches.