Top 36-Month CD Rates Now Pay 1.55%

The 36-month term is the latest casualty of falling CD rates.

Just last week, AmTrust Direct (www.amtrustdirect.com) regained the lead spot on our CD Rates Leaderboard, but only because it hasn’t cut its rates recently.

It’s held the same rate since Oct. 3, which was only good enough for a tie for fourth place then.

The online division of Cleveland-based AmTrust Bank, a division of New York Community Bank, pays 1.55% APY with a $1,000 minimum deposit.

Yep, that’s as good as it gets right now.

Former leader Doral Bank Direct (www.doralbankdirect.com) dropped its 36-month CD rate to 1.50% APY — its first rate cut since August.

The online bank of Doral Bank, the leading community bank in Puerto Rico, with eight U.S. branches in Florida and New York City, requires a $1,000 minimum deposit.

Next up:

CIT Bank (www.bankoncit.com), the online consumer bank of CIT Group Inc., which offers financing to small businesses and middle-market companies, pays 1.49% APY with a $1,000 deposit.

Tennessee Commerce Bank (www.tncommercebank.com), which has a single location in Franklin, Tenn., pays 1.48% APY and requires a $2,500 minimum deposit.

Broadway Federal Bank (www.broadwayfed.com), which has five branches in Los Angeles and Inglewood, Calif., offers 1.46% APY with a $500 minimum deposit.

Nationwide Bank (www.nationwide.com), an online bank owned by Nationwide Mutual Insurance Company and its affiliates, pays 1.45% APY and has no minimum deposit.

And two banks offer 1.41% APY:

USAA (www.usaa.com), a diversified financial company based in San Antonio that requires a $1,000 minimum deposit.

Virtual Bank (www.virtualbank.com), the online division of Sabadell United Bank, based in Miami, which requires a $10,000 minimum deposit.

Large banks and thrifts are currently offering an average annual yield of 0.68% 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.