One Bank Still Pays 3% On 3-Year CDs

Here’s how bad things have gotten for CD rates.

Returns on all three of the best 36-month certificates of deposit haven’t topped 3% APY since June.

There were more than a few weeks this fall when no one was paying 3%.

With the average return on 3-year CDs falling to just 1.61%, I suppose we should be grateful that even one bank is offering that much on 3-year CDs.

But it’s hard to work up a lot of enthusiasm for the deal from Goldwater Bank, which just grabbed the top spot in our rankings of the best-paying CDs.

Although the Scottsdale, Ariz., bank is paying 3.03% APY, it’s demanding a ridiculously high $50,000 minimum deposit to qualify for that rate.

How many savers are really going to be able to take advantage of that?

The next best, nationally available rates are:

2.80% APY with a $5,000 minimum deposit from Hudson City Bank, which has dozens of branches in New Jersey, New York and Connecticut.

Hudson City had the best deal during most of November when it was paying 3.00% APY.

2.75% APY with a $5,000 minimum deposit from The National Bank of Kansas City, with six locations in Missouri and Kansas.

Click here to compare the best CD rates from dozens of other banks in our database.