bank rates

Top 3-Year CD Rates Bunched Together

There’s finally been some movement in 3-year CD rates, but it wasn’t upward — as we’d kindly requested in the last review of this term.

Obviously, no one was listening.

(And when we say “no one,” we mean the Federal Reserve.)

The top nationally available 36-month CD rate is now just 1.45% APY — a tenth of a percentage point less than the term’s lead rate on our CD Rates Leaderboard for the first half of 2012.

That offer is courtesy of Doral Bank Direct (, the online bank of Doral Bank, the leading community bank in Puerto Rico that also has five branches in northwest Florida and two in New York City. It requires a $1,000 minimum deposit.

The second-highest rate, 1.42% APY, is from CIT Bank (, the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle market companies. It also requires a $1,000 deposit.

The National Republic Bank of Chicago (, which has two branches in Chicago, pays 1.41% APY with a $1,000 minimum deposit.

Four banks pay 1.35% APY:

ableBanking (, which is the online division of Northeast Bank and requires no minimum deposit.

AmTrust Direct (, which is the online division of Cleveland-based AmTrust Bank, which is owned by New York Community Bank, and requires a $1,000 minimum deposit.

Barclays (, which is the online American operation of the big British bank and requires no minimum deposit.

Discover Bank (, which is an online bank owned by the credit card company and requires a $2,500 minimum deposit.

And Ally Bank (, an online bank based in Charlotte, N.C., which comes in at 1.34% APY and requires no minimum deposit.

Large banks and thrifts are offering an average annual yield of 0.65% APY for 36-month CDs.

These 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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Comments (1)
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One Existing Comment
  1. Kathy at Bankaholic said:
    on August 13th at 05:54 am

    National Republic Bank of Chicago has dropped its 3-year rate to 1.26% APY.