bank rates

Top 3-Month CD Rates Earn 0.81%

Nexity Bank offers the top CD rates with a $1,000 minimum deposit.Who knows, maybe someday we’ll have appealing short-term CD rates.

Is 1.00% APY too much to ask?

For now, we’ll have to settle for a top nationally available deal that is more than four times better than the average for big banks and thrifts.

On May 3, Nexity took over the top 3-month CD rate when it boosted its yield to 0.81% with a $1,000 minimum deposit.

The Birmingham, Ala.-based online bank had been tied for first place with Hudson City Savings, which is paying 0.75%.

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

And it’s now tied for second place with VirtualBank, the online division of Lydian Private Bank, based in Palm Beach, Fla., which requires $10,000 minimum deposit to get its 0.75% APY.

These are much better rates than the annual yield for large banks and thrifts: 0.18% for 3-month CDs — a record low.

The only other banks we’re tracking for our CD Rates Leaderboard with CD rates worth mentioning:

0.70% APY at OneWest Bank, which has 82 branches in southern California and requires a $1,000 minimum deposit.

0.60% APY at Sanibel Captiva Community Bank, which has three branches in southwest Florida and requires a $1,000 minimum deposit.

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 June 24th at 08:32 am

    All of these rates are still available as of today.

  2. Kathy at Bankaholic said:
    on July 13th at 11:29 am

    You can still get all of these rates today.