bank rates

36-Month CDs Take Big Tumble In 2012

Money shaped into a downward arrowThe 36-month term took the biggest fall in 2012 of the standard terms, with the top deal on our CD Rates Leaderboard dropping a full quarter of a percentage point since the start of the year.

That’s quite a stumble. And to be honest, 2013 isn’t looking all that great.

NexBank (, which is a division of NexBank Capital Inc. and has two branches in Texas, took over the top spot on Nov. 21 with its longtime offering of 1.40% APY with a $10,000 minimum deposit.

The second-best rate has been around awhile, too.

Discover Bank (, which is an online bank owned by the credit card company and requires a $2,500 minimum deposit, continues to pay the 1.35% APY we began tracking in February.

Virtual Bank (, which is the online division of Sabadell United Bank, based in Miami, pays the third-highest rate of 1.31% APY with a $10,000 minimum deposit.

That one’s a tenth of a percentage point lower than where it started out 2012.

Six banks pay 1.30% APY:

ableBanking (, which is the online division of Northeast Bank, requires a $1,000 minimum deposit.

Barclays (, which is the online American operation of the big British bank, requires no minimum deposit.

CIT Bank (, the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies, requires a $1,000 minimum deposit.

MetLife (, which is the insurance giant’s online bank, requires a $2,000 minimum deposit.

Nationwide Bank (, which is an online bank owned by Nationwide Mutual Insurance Co. and its affiliates, requires a $500 minimum deposit.

Sallie Mae Bank (, which is an online bank owned by the student lender with a single branch in Murray, Utah, requires a $2,500 minimum deposit.

The average annual yield that large banks and thrifts offer for 36-month CDs is 0.56% APY, a record low set Nov. 28.

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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Comments (1)
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One Existing Comment
  1. Blogging Banks said:
    on December 11th at 06:47 pm

    Unfortunately, CD rates will probably remain low for the foreseeable future ( until FED ends its zero interest rate policy in 2016). I think that purchasing dividend stocks is a better alternative for money than fixed income. While return of money is not guaranteed, if you hold long enough and you are diversified, you should do just fine over the long run.