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4 Best 3-Month CD Rates July 2020

Spencer TierneyJuly 1, 2020

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Three-month CD rates aren't that common, but of those available, online banks tend to have the best. Although the term is one of the shortest available, these CDs can be helpful in some savings strategies.

Summary of Best 3-Month CD Rates July 2020

BankNerdWallet Rating APYMinimum DepositLearn More
Ally Bank CD

Ally Bank CD

0.50%

$0

Read review
TIAA Bank CD

TIAA Bank CD

0.45%

$5,000

Read review
Barclays CD

Barclays CD

0.35%

$1

Read review
Consumers Credit Union CD

Consumers Credit Union CD

0.35%

$250

Read review

Ally Bank CD

Ally Bank CD

APY

0.50%

With $0 minimum balance

Minimum Balance

$0

Member FDIC


Why we like it

Ally's wide range of CD terms starts at three months, and there's no minimum opening requirement.

Read Full Review

TIAA Bank CD

TIAA Bank CD

APY

0.45%

With $5000 minimum balance

Minimum Balance

$5,000

Member FDIC


Why we like it

TIAA Bank has a hefty minimum, but its three-month rate is one of the best.

Read Full Review

Barclays CD

Barclays CD

APY

0.35%

With $1 minimum balance

Minimum Balance

$1

Member FDIC


Why we like it

Barclays has no minimum for opening CDs.

Read Full Review

Consumers Credit Union CD

Consumers Credit Union CD

APY

0.35%

With $250 minimum balance

Minimum Balance

$250

Federally insured by the NCUA


Why we like it

Consumers Credit Union's opening minimum for its certificates is $250, much lower than other financial institutions'.

Read Full Review

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

Here's our list of the best 3-month CD rates from banks and credit unions:

  • Barclays: 0.35% APY, no minimum deposit.

  • Consumers Credit Union: 0.35% APY, $250 minimum deposit.

  • TIAA Bank: 0.45% APY, $5,000 minimum deposit.

  • Ally Bank: 0.50% APY, no minimum deposit.

Last updated on July 1, 2020

Methodology

We featured easy-to-join financial institutions that NerdWallet has vetted and reviewed with the highest rates for three-month CDs. Higher rates might be available elsewhere.

To recap our selections...

NerdWallet's Best 3-Month CD Rates July 2020

Frequently asked questions