bank rates

Best 3-Year CDs Pay About 1.40% APY

The top nationally available deal comes from CIT Bank.Yikes! 3-Year CD rates have dropped again, with the best nationally available certificate of deposit paying just 1.42% APY.

CIT Bank ( deserves credit for hanging onto that rate since April 3.

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

Next up, with 1.40% APY, is NexBank (, which recently bounded onto the CD Rates Leaderboard with decent rates in every term. The division of NexBank Capital Inc. has two branches in Texas and requires a $10,000 minimum deposit.

Three banks pay 1.35% APY:

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

Discover Bank (, which is an online bank owned by the credit card company and requires a $2,500 minimum deposit.

Doral Bank Direct (, which is the online bank of Doral Bank, the leading community bank in Puerto Rico that also has five branches in northwest Florida and two in New York City, and requires a $1,000 minimum deposit.

And two banks pay 1.31% APY:

The New York branch of the State Bank of India (, which is India’s largest bank, with FDIC-insured branches in California, Chicago and New York, and requires a $5,000 minimum deposit.

Virtual Bank (, which is the online division of Sabadell United Bank, based in Miami, and requires a $10,000 minimum deposit.

The average annual yield that large banks and thrifts are offering for 36-month CDs has dropped, too, to a record low 0.62% APY.

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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