bank rates

Reap 1.4% Returns With Best 3-Month CDs

Have you noticed that Golf Savings Bank has crept back into our rankings of the best 3-month CD rates?

Golf Savings Bank has crept back into our rankings of the best 3-month certificates of deposit.The little bank with a single branch in Mountlake Terrace, Wash., is only paying 0.80% APY – not nearly enough to knock Fort Knox Federal Credit Union out of the lead.

This unusual Kentucky credit union that allows anyone to join, regardless of where they live or work, continues to offer an unbeatable 1.40% APY with only a $500 minimum deposit.

But it’s still good to see Golf again, even if it is demanding a rather steep $10,000 minimum deposit.

In April it was offering the best return on three of the six CDs we track, before dramatically reducing its rates and dropping out of sight.

The other top, nationally available rates on 3-month certificates of deposit are:

1.00% APY from Hudson City Savings Bank. It requires a $5,000 from online applicants, but only $500 for in-person purchases at any of its New York, New Jersey or Connecticut branches.

0.90% APY with a $10,000 minimum deposit from Goldwater Bank, which has a single location in Scottsdale, Ariz.

Most credit unions have requirements that restrict membership – disqualifying them from our rankings.

But anyone can qualify for membership in Fort Knox by joining the American Consumer Council at the same time.

Just click on “Become a member” on the home page or rate page, then “Click here to get started.” When you’re asked for “Eligibility Criteria,” use the pull-down menu to click on “AMERICAN CONSUMER COUNCIL/KENTUCKY CHAPTER.”

When you complete the application, the credit union will automatically enroll you in the consumer advocacy group and you’ll be able to buy CDs as part of the application process.

Joining the American Consumer Council, a non-profit that promotes financial literacy through credit unions, is free. Joining the credit union costs $15.

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

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Comments (3)
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3 Existing Comments
  1. DealMaven said:
    on July 28th at 10:26 am

    We checked rates first this morning and there were no changes to The CD Rates Leaderboard for July 27. We have, however, expanded its capabilities. Click on the CD term of your choice and see what other rates are available.

  2. CrankySaver said:
    on July 28th at 10:36 am

    A new study quantifies what most of us already know: More Americans are in financial trouble now, than at any time over the past 25 years. It also shows that a critical contributing factor to all of that personal financial misery is insufficient savings. That’s why I think the real heroes of the recession are all of those savers who survived a long layoff because they hoped for the best but planned for the worst. Check out this, and all of the other posts, on our Personal Finance blog. You can always reach it by clicking on the “Finance” tab at the top of every page.

  3. DealMaven said:
    on July 29th at 02:56 pm

    The rates on The CD Rates Leaderboard for July 27 are unchanged as of today. To see even more rates, click on a CD term on the Leaderboard and see how that rate compares to other top rates.