bank rates

Five Compete For Top 3-Month CD Rates

E-LOAN offers the top rate of 0.65% APY.A new leader gave 3-month CD rates a slight boost this month.

E-LOAN ( came out of nowhere with an offering of 0.65% APY.

While that rate really isn’t anything to jump up and down about, we’re jumping and down. After all, an increased rate is an increased rate, right?

Especially when there’s been so little movement to celebrate on the CD Rates Leaderboard.

A subsidiary of Banco Popular North America, E-LOAN requires a $10,000 minimum deposit.

Former leader Virtual Bank ( continues to pay 0.60% APY. The online division of Sabadell United Bank, based in Miami, requires a $10,000 minimum deposit.

Rates head south after that.

EverBank (, a predominantly online bank based in Jacksonville, Fla., pays 0.53% APY and requires a $1,500 minimum deposit.

Just two banks pay 0.50% APY:

Hudson City Savings Bank (, which has 130 branches in New Jersey, New York and Connecticut, and requires a $500 minimum deposit for anyone living in that tri-state area but a $5,000 minimum deposit for everyone else.

KeySource Commercial Bank (, which has a single branch in Durham, N.C., and requires a $100 minimum deposit for CDs purchased in person, over the phone or through the mail, and a $5,000 minimum deposit if purchased online.

The average annual yield offered by large banks and thrifts for 3-month CDs is currently 0.16%.

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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Comments (2)
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2 Existing Comments
  1. Kathy at Bankaholic said:
    on April 2nd at 07:40 am

    Virtual Bank has cut its 3-month rate to 0.50% APY, and EverBank is now paying 0.51% APY on its 3-month CD.

  2. Kathy at Bankaholic said:
    on April 17th at 08:45 am

    These rates are still available (see previous comment on the lower rates at Virtual Bank and EverBank, which remain at that level).