bank rates

Where To Find The Best 3-Month CDs

Two banks are keeping 3-month CD rates from dipping all the way down to a half of a percentage point.

But even the best of this short-term investment can’t compete with the top savings and money market accounts. You’re simply not gaining anything by purchasing a 3-month CD in this market.

Unless you think savings rates will suddenly plunge in the next couple of months.

E-Loan ( has retaken the top spot on our CD Rates Leaderboard with its longtime offering of 0.65% APY.

The subsidiary of Banco Popular North America requires a $10,000 minimum deposit.

Former leader EverBank (, which is a predominantly online bank based in Jacksonville, Fla., now offers 0.60% APY with a $1,500 minimum deposit.

It’s all downhill from there.

Two banks offer the next highest rate of 0.50% APY:

NexBank (, which is a division of NexBank Capital Inc. and has two branches in Texas, and requires a $10,000 minimum deposit.

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

Three banks pay 0.45% APY:

AloStar Bank of Commerce (, which is an online bank based in Birmingham, Ala., and requires a $1,000 minimum deposit.

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

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

The average annual yield offered by large banks and thrifts for 3-month CDs remains a record low 0.13%.

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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