bank rates

Two Banks Tie For Top 3-Month CD Rates

The best rate is 0.60% APY.CD rates for the 3-month term are topping out at just 0.60% APY these days.

Not that they’ve been good in ages — that term didn’t break 1% on our CD Rates Leaderboard during all of 2011.

And the current average annual yield offered by large banks and thrifts for 3-month CDs remains a record low 0.15%.

Two banks co-lead the 3-month term with that 0.60% APY offering:

Hudson City Savings Bank (, which has 130 branches in New Jersey, New York and Connecticut, requires a $500 minimum deposit for anyone living in that tri-state area but a $5,000 minimum deposit for everyone else.

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

Two banks are tied for the second-highest rate of 0.50% APY:

EverBank (, a predominantly online bank based in Jacksonville, Fla., which requires a $1,500 minimum deposit.

Leaderboard newcomer KeySource Commercial Bank (, which has a single branch in Durham, N.C., requires a $100 minimum deposit for CDs purchased in person, over the phone or through the mail, and a $5,000 minimum deposit if purchased online.

In addition, AloStar Bank of Commerce (, an online bank based in Birmingham, Ala., pays 0.46% APY with a $1,000 minimum deposit.

And three banks pay 0.45% APY:

MetLife (, the insurance giant’s online bank which requires a $25,000 minimum deposit.

NewDominion Bank (, which has branches in Charlotte and Mooresville, N.C., requires a $1,000 minimum deposit.

OneWest Bank (, which has 82 branches in southern California, requires a $1,000 minimum deposit.

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 (3)
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3 Existing Comments
  1. Kathy at Bankaholic said:
    on February 5th at 11:53 am

    Hudson City Savings Bank has dropped it’s 3-month CD rate to 0.50% APY, and NewDominion is now paying just 0.25% APY for its 3-month CD.

  2. Kathy at Bankaholic said:
    on February 21st at 08:36 am

    All of these rates except for Hudson City’s and NewDominion’s are still available.

  3. Kathy at Bankaholic said:
    on March 5th at 10:20 am

    EverBank has actually raised its 3-month CD rate to 0.55% APY.