bank rates

1.85% Leads 3-Month CD Rates In August

TotalBank tops our survey of the best 3-month CD rates for the second straight month.

The Miami-based bank is offering less than the eye-catching 2.25% APY it was paying in July, with a $1,000 minimum deposit.

TotalBank in Miami tops our rankings of banks offering the best 3-month CD rates for a second straight month.That deal was short-lived, dropping to 1.85% APY just days after it was posted.

But TotalBank has maintained that rate ever since and it’s still significantly higher than all other nationally available 3-month CD rates.

It’s also more than three times the average rate for 3-month certificates of deposit, which fell to a record low 0.49% APY last week.

The next-best banks in our August rankings have changed, but the rates they’re offering are very close to those in our July rankings:

1.55% APY with a $1,000 minimum from Beal Bank Nevada, which has a single office in Las Vegas.

1.55% APY with an $8,000 minimum from UFB Direct. CDs sold at UFBDirect actually come from Waterfield Bank, which has a couple of full-service offices in Carmel, Ind., and Germantown, Md.

These are all Internet specials and accounts must be opened online to qualify for these rates.

Click here to compare them with the best CD rates from dozens of other banks in our extensive database.

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