BEST OF

6 Best 3-Month CD Rates for June 2022

Jun 1, 2022

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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

Consumers Credit Union CD

CD

Federally insured by NCUA

4.0

/5
 NerdWallet rating 
Minimum deposit
$250
Federally insured by NCUA
APY
0.35%
Why we like it
Consumers Credit Union's opening minimum for its certificates is $250, much lower than other financial institutions'.
TIAA Bank Basic CD

CD

Member FDIC

5.0

/5
 NerdWallet rating 
Minimum deposit
$1,000
Member FDIC
APY
1.00%
Why we like it
TIAA Bank has a somewhat low minimum and its three-month rate is one of the best.
Synchrony Bank CD

CD

Member FDIC

5.0

/5
 NerdWallet rating 
Minimum deposit
$0
Member FDIC
APY
0.60%
Why we like it
Online bank Synchrony has a low opening requirement and a wide range of high CD rates, including for its three-month CD.
Ally Bank High Yield CD

CD

Member FDIC

5.0

/5
 NerdWallet rating 
Minimum deposit
$0
Member FDIC
APY
0.50%
Why we like it
Ally's wide range of CD terms starts at three months, and there's no minimum opening requirement.
BrioDirect High-Yield CD

CD

Deposits are FDIC Insured

4.0

/5
 NerdWallet rating 
Minimum deposit
$500
Deposits are FDIC Insured
APY
0.25%
Why we like it
BrioDirect is the online bank division of Webster Bank. It has a competitive three-month CD rate and a low minimum opening deposit.
Discover Bank CD

CD

Member FDIC

5.0

/5
 NerdWallet rating 
Minimum deposit
$2,500
Member FDIC
APY
0.50%
Learn more

at Discover Bank

Why we like it
Discover Bank offers a competitive rate for a current three-month CD. Its minimum is relatively high.

» 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:

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

  • TIAA Bank: 1.00% APY, $1,000 minimum deposit.

  • Synchrony Bank: 0.60% APY, no minimum deposit.

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

  • BrioDirect: 0.25% APY, $500 minimum deposit.

  • Discover Bank: 0.50% APY, $2,500 minimum deposit.

Last updated on June 1, 2022

Methodology

On a monthly basis, we compare rates at over 20 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 80 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.

To recap our selections...

NerdWallet's Best 3-Month CD Rates for June 2022

Frequently asked questions