bank rates

3-Year CDs Gain Little Ground In 2013

magnifying glass over an eyeFor as much as 60-month CD rates are gaining speed, 36-month CD rates are spinning their wheels.

And unless something big happens in the next few weeks, the 36-month lead rate on our CD Rates Leaderboard will end 2013 at 1.45% APY – just five one-hundredths of a percentage point higher than where it began the year.

The term peaked at 1.50% APY in mid-May and remained stuck there until mid-October.

Intervest National Bank (, a community bank headquartered in New York City, which has one branch there and six branches in Clearwater and Pinellas counties in Florida, continues to pay the lead rate of 1.45% APY with a $2,500 minimum deposit.

chart showing the top and average 36-month cd rates

AloStar Bank of Commerce (, which is an online bank based in Birmingham, Ala., pays the second-best rate of 1.35% APY and requires a $1,000 minimum deposit.

The FDIC-insured Chicago branch of State Bank of India (, India’s largest bank, which operates independently of other U.S. branches, offers the third-highest rate of 1.31% APY and requires a $2,500 minimum deposit.

Three banks pay 1.30% APY:

GE Capital Bank (, which is one of two online banks, each with its own FDIC insurance, that are subsidiaries of GE Capital Corp., the financial services unit of the manufacturing giant, requires a $500 minimum deposit.

GE Capital Retail Bank (, the other bank that’s a subsidiary of GE Capital Corp., requires a $25,000 minimum deposit.

Salem Five Direct (, the online division of Salem Five Bank, which has 23 branches just north of Boston, requires a $10,000 minimum deposit.

The average annual yield that large banks and thrifts are offering for 36-month CDs is currently 0.48%.

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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