bank rates

1 Bank Pays Above 0.50% On 3-Month CDs

Man holding his nose and giving a thumbs downJust one 3-month CD rate remains above the half percent mark, and it’s the term leader on our CD Rates Leaderboard.

E-Loan (, which is a subsidiary of Banco Popular North America, continues to pay 0.55% APY with a $10,000 minimum deposit.

With rates like these, you’re better off checking out a savings or money market account.

They pay almost twice as much.

Chart showing the average and top 3-month CD rates over time.NexBank (, which is a division of NexBank Capital Inc. and has two branches in the Dallas area, pays the second-highest rate of 0.50% APY and requires a $10,000 minimum deposit.

EverBank (, which has 14 branches in Florida, pays 0.46% APY and requires a $1,500 minimum deposit.

Three banks pay 0.45% APY:

AloStar Bank of Commerce (, which is an online bank based in Birmingham, Ala., requires a $1,000 minimum deposit.

GE Capital Retail Bank (, an online bank that is a subsidiary of GE Capital Corp., the financial services unit of the manufacturing giant, requires a $25,000 minimum deposit.

OneWest Bank (, which has 73 branches in southern California, requires a $1,000 minimum deposit.

Four banks pay 0.40% APY:

Barclays (, which is the online American operation of the big British bank, has no minimum balance requirement.

California First National Bank (, an online bank owned by the same company that runs California First Leasing Corp., which finances high-tech business equipment, requires a $5,000 minimum deposit.

Discover Bank (, which is an online bank owned by the credit card company, requires a $2,500 minimum deposit.

Virtual Bank (, which is the online division of Sabadell United Bank, based in Miami, requires a $10,000 minimum deposit.

The average annual yield offered by large banks and thrifts for 3-month CDs remains 0.12%.

Banks qualify for our rankings by imposing no restrictions on who can buy their certificates of deposit, either online or through the mail.

Compare these returns with the best CD rates from scores of banks in our extensive database.

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