bank rates

New Leader Nudges Up Top 3-Year CD Rate

The last week has seen a lot of jockeying for the top spot among nationally available 36-month CDs.

Silvergate Bank dramatically upped its 3-year yield today, from 1.26% to 1.53% APY, making it the new leader among national banks on our CD Rates Leaderboard.

Just last Friday, EverBank raised its 36-month rate to 1.51%, the first time the term had surpassed 1.50% since January.

Then First Internet Bank of Indiana followed suit a few days later to become EverBank’s co-leader.

Unfortunately, all this vying for the lead is hardly substantial – we’re still just three-hundredths of a percentage point above a lead that had been stuck for five months.

Yet it’s encouraging to see any upward movement as we wait for the Fed to finally hike rates and bring some real momentum to CD yields.

Based in San Diego, Silvergate operates four branches in Southern California and requires a $25,000 minimum deposit on its certificates of deposit.

Although it’s been a contender in our rankings for some time, this is the first time Silvergate has held a top spot on our Leaderboard.

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