bank rates

3-Year CDs Haven’t Begun To Rebound

hand holding tiny dollar billThe distance between 36- and 60-month CD rates continues to grow – with the gap now widening to four-fifths of a percentage point.

And that’s after a slight rate cut at the top of the 60-month term.

The top nationally available 36-month offer on our CD Rates Leaderboard stands at 1.45% APY, unmoved all year.

We’ve been enjoying improvements in the top 5-year CD rates. Unfortunately, yields in shorter terms – 36-month CDs included – just haven’t rebounded in the same manner.

And with the Fed planning to hold short-term interest rates down into 2015 at the earliest, we might not see much improvement the remainder of this year.

Longtime leader 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, owns the top 3-year rate of 1.45% APY and requires a $2,500 minimum deposit.

The second-best rate is a full tenth of a percentage point less.

Barclays (, which is the online American operation of the worldwide British bank with more than $2 trillion in assets, pays 1.35% APY and has no minimum balance requirement.

Four banks pay 1.30% APY:

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

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.

The New York branch of the State Bank of India (, the FDIC-insured New York branch of India’s largest bank, which operates independently of other U.S. branches, requires a $5,000 minimum deposit.

The average annual yield that large banks and thrifts are offering for 36-month CDs remains 0.49% for the 11th 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.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (0)
1 Star2 Stars3 Stars4 Stars5 Stars (4 votes, average: 4.75 out of 5)
No Existing Comments

Comments are closed.