bank rates

New Leader In 3-Month CDs Pays More

A small Florida bank is our new leader in 3-month CD rates.

Sanibel Captiva Community Bank is offering a return of 0.95% APY with a $1,000 minimum deposit.
Sanibel Captiva Community Bank, a small bank in Florida, is offering the best nationally available rate.
That’s nearly a tenth of a percentage point more than you can earn at Nexity Bank, which falls to second in our rankings of the best nationally available returns.

The online bank based in Birmingham, Ala., continues to pay 0.86% APY with a $1,000 minimum deposit.

The only way to earn more is to find a deal that’s limited to local customers, such as the one River City Bank is offering in Louisville, Ky. or Green Belt Bank & Trust has for savers in north central Iowa.

The next best nationally available returns on 3-month certificates of deposit are:

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

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

The offer from Sanibel Captiva Community Bank is open to all U.S. residents, but you must apply by mail or in person.

You have to supply a copy of your driver’s or state license, as well as another piece of identification, your Social Security number, your occupation and of course the usual name, address and phone number.

The letter, along with a check, can be mailed to any of Sanibel Captiva Community Bank’s three locations (addresses are on the Web site).

Compare these returns with the best CD rates from scores of banks in our extensive database.

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  1. DealMaven said:
    on November 16th at 02:45 pm

    Although Sanibel Captiva Bank still leads the ranking with its 0.95% APY and Goldwater Bank is in second place at 0.85% APY, there were some changes down below.

    Both Nexity Bank and Virtual Bank dropped their rates to 0.75% APY, putting them in fourth place. They were joined by Hudson City Bank, with branches in New York, Connecticut and New Jersey. It, too, offers 0.75% with a $5,000 minimum deposit and online application.

    NewDominion Bank, a primarily online bank with branches in Charlotte and Mooresville, N.C., jumped back into third place, paying 0.77% APY with a $3,000 minimum.

    It was temporarily removed from the rankings when Sanibel Captiva Community Bank moved in.