bank rates

Top 3-Month CD Rates Earn 0.80%

Average 3-month CD rates have nestled perilously close to a record low, holding at 0.20% APY for five straight weeks.

CalFirst Bank offers the top nationally available dealThat’s nearly as long as an online bank based in California has offered the top nationally available deal — at four times the 3-month average.

California First National Bank, better known as CalFirst, is paying 0.80% APY with a $5,000 minimum deposit.

The addition of CalFirst to the CD Rates Leaderboard was a welcome one, especially after longtime leader Sanibel Captiva Community Bank dropped its 3-month CD rates and fell out of our rankings completely.

CalFirst’s rate just beats the 0.75% APY offered by the five banks tied for second place:

H&R Block, which is an online bank operated by the tax preparation company with a single branch in Kansas City, Mo., and requires a $250 minimum deposit.

Goldwater Bank, which has a single location in Scottsdale, Ariz., and requires a $5,000 minimum deposit.

VirtualBank, which is the online division of Lydian Private Bank, based in Palm Beach, Fla., and requires a $10,000 minimum deposit.

Nexity, which is an online bank based in Birmingham, Ala., and requires a $1,000 minimum deposit.

Hudson City Savings, which has 130 branches in New Jersey, New York and Connecticut, and requires a $5,000 minimum deposit.

These banks and credit unions 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 March 16th at 08:46 pm

    VirtualBank’s 3-month rate has slipped to 0.50% APY, but the other rates are the same as of March 16, 2011.

  2. Kathy at Bankaholic said:
    on March 27th at 08:58 am

    These rates are still available as of March 27, 2011, except VirtualBank’s, which is now 0.50%, and Nexity’s, which is 0.26%.