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A 36-month CD may be ideal for those with short to intermediate-term cash needs. Below we list the best 3-year CD rates in our database, ordered from highest APY to lowest.
Note that you may be able to find better rates with alternative account types. For example, online savings accounts or no-penalty CDs may offer higher yields.
Editor’s Pick
The Quontic Bank 3-Year CD offers a strong fixed APY of 4.40% and requires a minimum deposit of just $500. Quontic offers savings, checking and other CD term products but keep in mind that the early withdrawal penalty is high. Make sure your deposit is cash you plan to leave alone for the full term.
- Current APY – 4.40%
- Minimum Deposit Requirement – $500
- Early Withdrawal Penalty – Two years of simple interest
The Rest of the Best 3-Year CDs
1. Skyla Credit Union
Certificate of Deposit
Member NCUA
APY
4.20%
Term
36 Months
Min. Deposit
$500
Our Rating: 4.7
2. BMO Alto
Certificate of Deposit
Member FDIC
APY
4.50%
Term
36 Months
Min. Deposit
$0
Our Rating: 4.5
3. Popular Direct
Certificate of Deposit
Member FDIC
APY
4.55%
Term
36 Months
Min. Deposit
$10,000
Our Rating: 4.5
4. Alliant Credit Union
Certificate of Deposit
Member NCUA
APY
4.20%
Term
36 Months
Min. Deposit
$1,000
Our Rating: 4.6
5. Discover® CD
Certificate of Deposit
Member FDIC
APY
3.75%
Term
36 Months
Min. Deposit
$2,500
Our Rating: 4.5
Highest 3-Year CD Rates by APY
Below you will find the best 3-year CD rates we could find. After looking at more than one hundred different CDs, these were the highest APYs.
123 Results
3-Year Mega Saver Share Certificate with One-time Bump
3.90%
$100,000
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Using a 3-Year CD to Build a CD Ladder
A 3-year CD is one of the most uncommon lengths for a CD but it can serve a great purpose when building a CD ladder. When creating a CD Ladder, you can do so in two different ways.
The first is to open up a CD of a specific term length and every set period after, open up another one. For example, if you opened a 5-year CD today, you could open another one up one year from now. Then another two years from now etc. so that after the first CD matures, you’ll have another 5-year CD that matures every year, giving you some cash flexibility. This approach requires a bit of patience.
The second is to open CDs of different lengths all at the same time. So today, I might open five CDs, all ranging from one year to five years in length. The same goal is accomplished in having one CD mature every year, but it happens faster, and in a high-rate environment like this one, your one-year CDs offer a higher APY than a five-year CD, so you’ll earn more interest (for now).
How We Chose the Best 3-Year CDs
Deciding on which CD to open almost always boils down to three primary factors.
- Early Withdrawal Penalty – Before opening a CD, consider what the penalty will be if you need to close the CD early. Terms of 36 months mean at minimum, six months of lost interest and at most, two full years of lost interest. No one plans to close a CD before it matures but for peace of mind, you may gravitate toward a CD with the least penalty possible.
- Interest Rate (APY) – Every featured 3-year CD above has an excellent interest rate. If you’re looking to deposit $1,000, the difference in interest rate is unlikely to yield you anything more than a few dollars per year but if you’re looking to deposit $100,000, every point matters.
- Minimum Deposit Requirement – Many of the CDs we feature include no deposit requirement so everyone is open to depositing. Banks that require a high deposit minimum are typically ones that also will offer a higher interest rate so remember to inquire before opening a CD if you have six figures available.
Banks we included in our review are as follows: Affirm, Alaska USA Federal Credit Union, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank of the West, Bank5 Connect, Bank7, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Credit Human Federal Credit Union, Current, Delta Community Credit Union, Discover Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GO2bank, GreenState Credit Union, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, mph.Bank, Nationwide (by Axos), Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Ponce Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, Skyla Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Union Bank, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo, Western Alliance Bank and Zynlo Bank.
Frequently Asked Questions (FAQ)
Can the rate change on my 3-year CD during the term?
No. All of the rates you see above are for a fixed term (unless the rate explicitly says otherwise). Fixed interest rates mean that the rate will not change, so the APY you have on day #1 is the same rate you’ll have on day #1,095.
Can I add money to my 3-year CD after I open it?
No. After you’ve opened a CD and made your deposit, money cannot be added or withdrawn until the CD is fully mature.
What you can do is open a new CD. The rate you receive may be different than the one you already have, but it will be guaranteed through the full term.
Final Thought on the Best 3-Year CDs
When opening up a 3-year CD, remember that your money is going to be locked up for a while. Many of the early withdrawal penalties on CDs of this length eat up most if not all of the interest you’ve earned. The best advice is to make this part of your CD ladder or only use funds you know you won’t need for a while.