bank rates

TotalBank Leads 3-Month CD Rates Again

TotalBank leads our rankings of the best 3-month CD rates for the third straight month.

The Miami-area bank — which is owned by Spain’s third largest bank, Banco Popular Espanol SA — has continued to pay 1.85% APY, with a $1,000 minimum deposit, since mid-July.

That’s rather remarkable when you consider that the average rate for 3-month certificates of deposit has fallen from 0.53% APY to a record low 0.43% APY during that time.

The average return on 3-month certificates of deposit has fallen to a record low of 0.43% APY.

Other banks have certainly been trimming 3-month CD rates over the past two months, including those in our August rankings.

Beal Bank Nevada sliced its second-place rate of 1.55% in half, dropping it from the list. And third place UFB Direct, although holding onto that position, shaved almost a quarter point from its yield.

The next-best 3-month CD rates are:

1.50% APY with a $25,000 minimum deposit from MetLife Bank, an online bank owned by the big insurance company that uses Snoopy in its ads.

1.35% APY with an $8,000 minimum deposit from UBFDirect. CDs sold at this Web site actually come from Waterfield Bank, which has a couple of full-service offices in Carmel, Ind., and Germantown, Md.

All these CDs are nationally available and online applications are available on the banks’ Web sites.

Click here to compare them with the best CD rates from dozens of other banks in our extensive database.

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