bank rates

Average 3-Year CDs Rise, Top Deals Don’t

Large percentage signWe’re very nervous about where 36-month CD rates are headed.

Not only does just a tenth of a percentage point difference separate the lead rate on our CD Rates Leaderboard and the second-highest rate, the longtime third-highest rate recently fell.

In other words, if Intervest National Bank cuts its lead rate of 1.45% APY, we’re in trouble.

Locally, 36-month deals are few and far between.

The only bright spot: The average annual yield large banks and thrifts offer rose in our most recent survey to 0.49% and is now three one-hundredths of a percentage point higher than the term’s record low.

Chart showing the top and average 3-year CD rates

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, requires a $2,500 minimum deposit for its 1.45% APY.

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

Two 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.

CIT Bank (, the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies, pays 1.27% 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, cut its rate from 1.31% APY to 1.26% APY and requires a $2,500 minimum deposit.

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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