Which Banks Offer Highest 3 Month Cd Rates?

The Certificate of deposit is a very famous risk free saving option with a fixed interest rate for fixed term

. Analysing the best interest rate among the US banks for a short term of three months would be very useful to decide your investments and returns. In this article, you will come across an unbiased report of the best interest rates for 3 month CD.

The best three rate of interest discussed here are as follows,

Banks offering 1.25%

Banks offering 1.14%

Banks offering 1.11%

Banks offering 1.25%:

After the recent recession, the top rate of about 1.85% fell down to around 1.25%. Fortune bank offers this rate of interest with a minimum deposit of $1000. Before recession, every other bank offered around 1.50%. However, after recession it is only the Fortune bank with a branch at suburban St. Louis offers this rate. This rate is even less than half of the rate offered by the TotalBank, which was the top member in the highest paying banks. Now its rate of interest fell to about 1.10% last February. This seems to be lesser than the other banks, which offer a range of higher interest rates for 3 month CD.

Banks offering 1.14%:

Golf Savings Bank with around 38 branches offers this rate of interest. However, the minimum deposit claims to be higher to $10,000. Golf has some of the branches in important locations like Washington, Montana, Idaho and Oregon. UFB Direct is another bank, which offers this rate of interest. However, they would require a minimum deposit of $8000.

Banks offering 1.11%:

There are a couple of banks offering this rate of interests. In fact, this seems to be the most common rate for a 3 month CD. Nexity Bank, Excel National Bank and BankDirect offer this rate of interest. Among them, the Nexity bank and the BankDirect are online banks. Nexity is based on the Birmingham and BankDirect is based on the Dallas. Excel National Bank is present in a single location in Beverly hills, Calif. For people who seem to use a smaller deposit would prefer the Nexity as this bank demands only a minimum deposit of $1000 and the other two demands a deposit of about $10,000.

by: Balajee Kannan

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