bank rates

2 Banks Stand Above Rest In 3-Year CDs

There’s been little movement in 36-month CD rates, with the lead rate on our CD Rates Leaderboard now stuck at 1.42% APY.

And that’s a months-old rate from CIT Bank (, the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies and requires a $1,000 minimum deposit.

Close behind, with 1.40% APY, is NexBank (, which is a division of NexBank Capital Inc. and has two branches in Texas. It requires a $10,000 minimum deposit.

Discover Bank (, which is an online bank owned by the credit card company, pays 1.35% APY and requires a $2,500 minimum deposit.

Two banks pay 1.31% APY:

Doral Bank Direct (, which is the online bank of Doral Bank, the leading community bank in Puerto Rico that also has five branches in northwest Florida and two in New York City, requires a $1,000 minimum deposit.

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

Five banks pay 1.30% APY, followed by eight banks that pay in the 1.20% APY to 1.29% APY range.

The average annual yield that large banks and thrifts are offering for 36-month CDs is a record low 0.59% APY for the fourth week.

These 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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