bank rates

First Trade Union Tops 36-Month CD Rates

The 3.00% APY offered by First Trade Union Bank in Boston vaults it to the top of our rankings of the best 36-month CD rates.

It can be purchased as an IRA CD, the minimum deposit is only $500, and you can open an account online.

36-month CD ratesFrontier Bank, with 38 locations in Washington and four in Oregon, also offers a 3.00% APY on a 36-month CD.

But you need a minimum deposit of $50,000 to earn that yield. (You can get a 2.90% APY for a $25,000 deposit.)

newdominionDIRECT had the best nationally-available rate of 3.01% until the Charlotte, N.C.-based online bank reduced its return to 2.76% APY.

All of those rates are more than a point higher than the national average for 36-month CDs, which has declined to 1.71% APY, the lowest since Bankrate began tracking those rates in August 2000.

It was two years ago this month that CD rates began trending downward, with the three-year yield now more than two percentage points lower than the August 2007 average of 3.81 APY%.

Click here to compare First Trade Union’s offer with the best CD rates from dozens of other banks in our extensive database.

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Comments (1)
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One Existing Comment
  1. DealMaven said:
    on August 7th at 10:51 am

    This rate didn’t last long, did it? Less than 48 hours after it was posted First Trade Union Bank lowered its rate on the 36-month CD to 2.50% APY from 3.0% APY.

    We hate to see this happen but it often does. Banks are overwhelmed with requests and to stem the flow they lower the rate.

    The moral here is: If you see deal you like, hop on it right away. That way you’ll have a decent chance of cashing in on the offer.