bank rates

Best 3-Month CD Rates Back To 0.85%

We apologize to everyone who tried to take advantage of the deal we told you about yesterday on 3-month CDs from BankDirect.

We’ve seen banks lower CD rates within a day or two of us writing about them. But the online division of Texas Capital Bank did so within an hour or two of our post.

BankDirect cut it's leading return on 3-month CDs hours after we told you about it yesterday.All of the information was confirmed with a customer service rep just minutes before it was published.

He noted that it was a great new rate and gave no indication BankDirect was preparing to reduce the return on its 3-month CD from 1.01% APY to 0.40% APY.

This certainly provides a vivid reminder of how tough it is for savers to find reasonable returns on their investments.

And who says 1% on a 3-month certificate of deposit is all that reasonable? The top banks were paying twice as much last fall.

Here are the best, nationally available 3-month CD rates now that BankDirect has come and gone:

0.85% APY with a $10,000 minimum deposit from Goldwater Bank, which has a single location in Scottsdale, Ariz.

0.80% APY with a $10,000 minimum deposit from Virtual Bank, the online division of Lydian Private Bank in Palm Beach Gardens, Fla.

0.80% APY with a $2,500 minimum deposit from Woodlands Commercial Bank, on online bank in Salt Lake City that primarily loans to corporations and was formerly known as Lehman Brothers Commercial Bank.

0.77% APY with a $3,000 minimum deposit from NewDominion Bank, a predominantly online bank with branches in Charlotte and Mooresville, N.C.

All of the banks in our rankings allow savers to buy CDs over the Internet with no restrictions on where they must live or work.

Click here to compare these deals with the best CD rates from dozens of other banks in our database.

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Comments (2)
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  1. hallmonitor999 said:
    on October 5th at 10:33 am

    thanks for telling us! and yes…at least you know what it’s like for us customers out there. banks aren’t giving anything away easily any more. wonder if they honored the rate for the people who applied during the window when it was available.

  2. DealMaven said:
    on October 12th at 09:11 am

    Woodlands Bank in Salt Lake City is not currently accepting CD applications.