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6 Best 3-Month CD Rates for January 2023

Jan 1, 2023

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Three-month CD rates aren't too common, but of those available, online banks tend to have the best. These CDs can be helpful in some savings strategies, such as CD ladders.

Why trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.

» Want to see a wider pool of high rates? See our list of the best high-interest accounts

🤓Nerdy Tip

The Federal Reserve raised rates seven times in 2022, which is good news for your bank account. Take advantage of rising rates with one of the accounts below.

Best 3-Month CD Rates

NerdWallet rating 

5.0

/5
TIAA Bank Basic CD

Minimum deposit

$1,000

Member FDIC

APY

2.00%

NerdWallet rating 

5.0

/5
Synchrony Bank CD

Minimum deposit

$0

Member FDIC

APY

2.25%

NerdWallet rating 

5.0

/5
Ally Bank High Yield CD

Minimum deposit

$0

Member FDIC

APY

2.00%

NerdWallet rating 

5.0

/5
Discover Bank CD
Learn more

at Discover Bank, Member FDIC

Minimum deposit

$2,500

Member FDIC

APY

1.50%

NerdWallet rating 

4.5

/5
Popular Direct CD

Minimum deposit

$10,000

Member FDIC

APY

4.10%

NerdWallet rating 

4.5

/5
Citi® CD

Minimum deposit

$500

APY

3.25%

» Want to see more options? Check our list of the best CD rates overall

Best 3-month CD rates

  • Popular Direct: 4.10% APY, $10,000 minimum deposit.

  • Citibank: 3.25% APY, $500 minimum deposit.

  • Synchrony Bank: 2.25% APY, no minimum deposit.

  • TIAA Bank: 2.00% APY, $1,000 minimum deposit.

  • Ally Bank: 2.00% APY, no minimum deposit.

  • Discover Bank: 1.50% APY, $2,500 minimum deposit.

How do CDs work?

Learn more about the journey of choosing, opening and closing CDs.

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See CD rates by term and type

Compare the best rates on certificates of deposit for various CD terms and types:

See CD rates by bank

If you want to see CD rates at specific banks, here’s a quick list of both traditional and online banks’ CDs (and one brokerage’s offering):

Last updated on January 1, 2023

Methodology

On a monthly basis, we compare rates at over 30 financial institutions, pulled from our full list, that we’ve seen to be consistently competitive. On a quarterly basis, we analyzed our full list, excluding banks that offered brokered CDs, since those accounts work differently from standard bank CDs. Higher rates might be available elsewhere.

We took a close look at over 90 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.

Financial institutions and providers surveyed are: 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, BMO Harris, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Commerce Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Delta Community Credit Union, Discover Bank, E*TRADE, Fifth Third Bank, First Foundation, First National Bank, First Republic Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GO2bank, Golden 1 Credit Union, Hope Credit Union, Huntington Bank, Industrial Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Nationwide (by Axos), Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, Scarlet, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, TIAA Bank, Truist Bank, U.S. Bank, UFB Direct, Union Bank, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.

To recap our selections...

NerdWallet's Best 3-Month CD Rates for January 2023

Frequently asked questions