bank rates

Top 3-Month CDs Pay Way Above Average

EverBank pays 0.65% APY.EverBank has gradually increased its 3-month CD rates over the last few months.

And now the predominately online bank based in Jacksonville, Fla. (www.everbank.com), owns the top nationally available deal on our CD Rates Leaderboard.

It pays 0.66% APY with a $1,500 minimum deposit.

That’s nothing to get excited about, but that yield is more than four times the national average of 0.14% APY, according to our latest survey of banks and thrifts.

So, if you’re looking for a 3-month CD, you certainly can do worse.

E-Loan (www.eloan.com), the longtime leader in this term, now offers the second-best nationally available deal. The subsidiary of Banco Popular North America pays 0.65% APY with a $10,000 minimum deposit.

Here are the other deals we’re tracking for our Leaderboard:

KeySource Commercial Bank (www.keysourcebank.com), which has a single branch in Durham, N.C., pays 0.50% APY with a $100 minimum deposit for CDs purchased in person, over the phone or through the mail, and a $5,000 minimum deposit if purchased online.

Virtual Bank (www.virtualbank.com), the online division of Sabadell United Bank based in Miami, also pays 0.50% APY with a $10,000 minimum deposit.

AloStar Bank of Commerce (www.alostarbank.com), which is an online bank based in Birmingham, Ala., pays 0.45% APY with a $1,000 minimum deposit.

MetLife (www.metlifebank.com), which is the insurance giant’s online bank, pays 0.45% APY with a $25,000 minimum deposit.

OneWest Bank (www.owb.com), which has 82 branches in southern California, pays 0.45% APY with a $1,000 minimum deposit.

Banks 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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