bank rates

3-Month CD Rates Are At Least Consistent

Although 3-month CD rates saw a slight rise over the summer, they remain, predictably, the saddest term on our CD Rates Leaderboard.

Just two banks are keeping it afloat with rates markedly better than the rest we’re tracking.

EverBank (, which is a predominantly online bank based in Jacksonville, Fla., is now offering the lead rate of 0.66% APY with a $1,500 minimum deposit.

That barely edges out former leader, E-Loan (, the subsidiary of Banco Popular North America, which continues to offer 0.65% APY with a $10,000 minimum deposit.

These two banks are in the exact same position they were when we last reviewed this term in July.

The next-highest rate drops down all the way to 0.50% APY and is offered by two banks:

KeySource Commercial Bank (, which has a single branch in Durham, N.C., and requires a $100 minimum deposit for CDs purchased in person, over the phone or through the mail, and a $5,000 minimum deposit if purchased online.

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

Three banks pay 0.45% APY:

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

MetLife (, which is the insurance giant’s online bank and requires a $25,000 minimum deposit.

OneWest Bank (, which has 82 branches in southern California and requires a $1,000 minimum deposit.

Meanwhile, Ally Bank (, which is the online bank based in Charlotte, N.C., pays 0.44% APY and requires no minimum deposit.

The average annual yield offered by large banks and thrifts for 3-month CDs remains a record low 0.13%.

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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