bank rates

Top 3-Year CD Rates Fall Below 2%

MainStreet Bank holds the top rate of 1.90% APYIt’s been a rough couple of weeks for CD rates, and 36-month CD rates are no exception.

When we last wrote about the 36-month term, suburban Philadelphia-based Quaint Oak Bank was offering the top rate of 2.10% APY.

Today, Quaint Oak is paying a full four-tenths of a percentage point less.

And the new term leader, Virginia-based MainStreet Bank (, has just dropped its rate from 2.00% APY to 1.90% APY with a $500 minimum deposit.

That’s still a tenth of a percentage point more than Doral Bank Direct (, which is offering the second best 36-month rate of 1.80% APY.

The online bank of Doral Bank, the leading community bank in Puerto Rico, requires a $1,000 minimum deposit.

Five banks are offering the next highest rate of 1.75% APY:

Jacksonville Bank (, which has five locations in northeast Florida and requires a $1,000 minimum deposit.

Country Bank (, which has 14 branches in central Massachusetts and requires a $500 minimum deposit.

Kaiser Federal Bank (, which has nine branches in southern California and requires a $1,000 minimum deposit.

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

AmTrust Direct (, the online division of AmTrust Bank, a division of New York Community Bank, in Cleveland, Ohio, which requires a $1,000 minimum deposit.

Large banks and thrifts are offering an average annual yield of only 0.91% APY for 36-month CDs – another record low for the term.

No doubt about it, these are sad days for savers, folks.

But we’re staying on top of this and all of the standard terms to ensure that the best nationally available deals are always featured on our CD Rates Leaderboard.

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 (2)
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2 Existing Comments
  1. SeniorSaver said:
    on August 15th at 09:45 am

    Nationwide Bank dropped its 36-month CD rate (and a lot of other rates) this morning. It’s now 1.60% APY (1.65% for jumbo CDs). My guess is that the Discover 1.75% APY rate will be gone by tomorrow morning. We’ll see.

  2. Kathy at Bankaholic said:
    on August 29th at 09:31 am

    Only MainStreet Bank’s and AmTrust Direct’s rates are still available. All the others have gone south.