EXHIBIT 23

                         CONSENT OF INDEPENDENT AUDITORS



                                  [LETTERHEAD]

                         INDEPENDENT AUDITORS' CONSENT

We consent to incorporation by reference in the Registration Statements 
(Numbers 33-31845 and 33-59832) on Form S-8 of Maryland Federal Bancorp, Inc. 
of our report dated April 10, 1996, relating to the consolidated statements 
of financial condition of Maryland Federal Bancorp, Inc. and Subsidiary as of 
February 29, 1996 and February 28, 1995, and the related consolidated 
statements of income, stockholders' equity and cash flows for each of the years
in the three-year period ended February 29, 1996, which report appears in the 
February 29, 1996 annual report on Form 10-K of Maryland Federal Bancorp, Inc.

STOY, MALONE & COMPANY, P.C.


Bethesda, Maryland 
May 28, 1996