bank rates

Top 36-Month CDs Now Pay 1.75%

AmTrust Direct owns the top 3-year CD rateI started tracking AmTrust Direct, the new leader for 36-month CD rates, on a sunny but sad July day when I decided to lower the bottom rate I keep an eye on for that term to 1.75% APY.

I never imagined that seemingly basement rate would one day top the 36-month term on our CD Rates Leaderboard.

Let alone just two months later.

But our familiar leaders and memories of their better rates are slowly fading away.

MainStreet what? Quaint Oak who?

Not that AmTrust Direct ( appeared out of nowhere. The online division of Cleveland-based AmTrust Bank, a division of New York Community Bank, has long been on our radar. But it’s never topped a term.

(And it now leads the 60-month term as well, with an offering of 2.25% APY, and owns the top nationally available money market account.)

We’re obviously entering some dark days here, folks.

AmTrust Direct is paying its 1.75% APY with a $1,000 minimum deposit.

Not too far behind is Discover Bank (, an online bank owned by the credit card company which pays 1.70% with a $2,500 minimum deposit.

Other banks we’re tracking, which – for the record – I don’t want to see on top unless they raise their current rates:

Doral Bank Direct (, the online division of Doral Bank, the leading community bank in Puerto Rico, pays 1.65% APY and requires a $1,000 minimum deposit.

Goldwater Bank (, which has a single location in Scottsdale, Ariz., pays 1.60% APY and requires a $5,000 minimum deposit.

Aurora Bank (, which has branches in Wilmington, Del., and Jersey City, N.J., pays 1.59% APY and requires a $1,000 minimum deposit.

Large banks and thrifts are currently offering an average annual yield of only 0.76% APY for 36-month CDs – a record low for the term.

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 (6)
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6 Existing Comments
  1. Kathy at Bankaholic said:
    on September 26th at 07:51 am

    AmTrust’s and Doral Bank’s rates are still available, but three of these banks have lowered their rates: Discover, to 1.60% APY; Goldwater, to 1.58% APY; and Aurora, to 1.58% APY.

  2. Kathy at Bankaholic said:
    on September 28th at 08:05 am

    Aurora’s rate has slipped again to 1.57% APY.

  3. Darci Swisher said:
    on September 28th at 11:21 am

    We noticed today that Doral Bank Direct’s home page advertises 36-month CDs for 1.80% APY. A quick call to customer service revealed that, unfortunately, the banner needs updating, not the current rates page. Doral Bank Direct’s 36-month rate has been 1.65% APY since Aug. 18.

  4. Kathy at Bankaholic said:
    on October 3rd at 07:39 am

    Only Doral Bank is still offering the rate quoted here –1.65%.

    AmTrust’s 36-month rate is now 1.55% (and its 60-month rate is 1.75%).

    Discover’s 36-month rate is 1.60%; and Goldwater and Aurora’s 36-month rates are both 1.57%.

  5. Kathy at Bankaholic said:
    on October 11th at 08:56 am

    Doral Bank’s holding steady at 1.65% APY for its 36-month CD.

  6. Kathy at Bankaholic said:
    on October 19th at 08:41 am

    Doral Bank is hanging in at 1.65%.