bank rates

Best 3-Year CD Rates Still Well Over 2%

As Yogi Berra said, “It’s like déjà vu all over again.”

Melrose Credit Union jumped back into the lead in 36-month CD rates, offering the best nationally available return of 2.27% with a $5,000 minimum deposit.
Melrose Credit Union jumped back into the lead in 36-month CD rates, offering the best nationally available return of 2.27% with a $5,000 minimum deposit.
This happened when Danversbank in Boston cut its return from 2.50% APY to 2.00% APY, ceding the top spot it had held for well over a month.

The New York-based credit union led our rankings in four categories throughout the summer and after a short respite, it’s back on top in 12- and 36-month CD rates. It never relinquished the lead in 60-month CD rates, and it’s also closing in on the lead in 24-month CDs.

Melrose is the only credit union included in our rankings because of its unique charter that allows anyone to join for only $1, regardless of where they live or work. (You will also be required to hold at least $25 in a savings account.)

The next best rates on 3-year certificates of deposit are:

2.20% APY with a $500 minimum deposit from Acacia Federal Saving Bank, the online subsidiary of the Acacia Life Insurance Company, Falls Church, Va.

2.19% APY: with a $5,000 minimum deposit from Heritage Bank, which has branches in Phoenix and Tempe, Ariz.

2.15% APY with a $1,000 minimum deposit from Kaiser Federal Savings Bank, with nine branches in Southern California.

2.15% APY with a $500 minimum deposit from NOVA Bank, with five locations in Philadelphia and another seven in the surrounding counties.

2.15% APY with no minimum deposit required, from Sallie Mae Bank, owned by the big student loan lender.

These banks qualify for our rankings by imposing no restrictions on who can buy their CDs, and all take applications over the Internet.

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

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  1. Nancy Goodenow said:
    on October 5th at 01:19 am

    Just FYI: Be sure to check out the penalty for early withdrawal. I found that some of the banks offerring the best rates also have the worst penalty in case you have to withdraw.