bank rates

3-Month CDs: In A Word, Dreadful

number three surrounded by a circleLet’s be honest: 3-month CD rates are in the toilet and have been for years.

In fact, the last time we saw an average rate that even came close to matching inflation, George W. Bush was still in office and “American Idol” was the hottest show on TV, not limping along as it is now.

There’s no star power in these rates.

The top nationally available CD rate for this term on our CD Rates Leaderboard now stands at just 0.46% APY.

That’s thanks to EverBank (, which has 14 branches in Florida and requires a $1,500 minimum deposit.

You can earn more than twice that with a savings or money market account.

Chart showing the average and top nationally available 3-month cd rates

Three banks pay 0.45% APY:

AloStar Bank of Commerce (, which is an online bank based in Birmingham, Ala., formerly known as Nexity Bank, 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.

The average annual yield offered by large banks and thrifts for 3-month CDs remains a record-low 0.11%.

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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