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15 Best 3-Year CD Rates for November 2021

Spencer TierneyNov 1, 2021

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The best three-year CD rates can give a boost to short-term savings. The rates featured on this page are much higher than the national average rate of 0.19% APY for three-year CDs. See our picks below.

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

Also scroll down to see "no-penalty" CDs that allow you to withdraw your money whenever you want.

Summary of Best 3-Year CD Rates for November 2021

Quontic Bank CD
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at Quontic Bank, Member FDIC

Quontic Bank CD

5.0

NerdWallet rating 
Quontic Bank CD

Minimum Deposit

$500

Member FDIC

APY

1.00%
Learn more

at Quontic Bank, Member FDIC


Why we like it

Quontic Bank is a digital bank with a low minimum and solid rate on its three-year CD.

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Comenity Direct CD
Learn more

at Comenity Direct, Member FDIC

Comenity Direct CD

5.0

NerdWallet rating 
Comenity Direct CD

Minimum Deposit

$1,500

Member FDIC

APY

0.80%
Learn more

at Comenity Direct, Member FDIC


Why we like it

Comenity Direct offers a competitive rate on its CD; there's a somewhat high minimum.

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Bank5 Connect High-Yield CD

4.0

NerdWallet rating 
Bank5 Connect High-Yield CD

Minimum Deposit

$500

Member FDIC

APY

0.85%

Why we like it

Massachusetts-based Bank5's online division offers a competitive three-year CD rate, its longest term, with a low minimum.

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PenFed Credit Union CD

5.0

NerdWallet rating 
PenFed Credit Union CD

Minimum Deposit

$1,000

Federally insured by the NCUA

APY

1.00%

Why we like it

Pentagon Federal Credit Union has a solid rate and a low minimum on its three-year money market certificate, which is its equivalent to CDs.

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Marcus by Goldman Sachs High-Yield CD

5.0

NerdWallet rating 
Marcus by Goldman Sachs High-Yield CD

Minimum Deposit

$500

Member FDIC

APY

0.75%

Why we like it

The Wall Street firm's online banking division offers competitive CD rates, including its three-year term.

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TAB Bank CD

5.0

NerdWallet rating 
TAB Bank CD

Minimum Deposit

$1,000

Member FDIC

APY

0.65%

Why we like it

TAB Bank, an online bank headquartered in Ogden, Utah, offers a competitive three-year rate and relatively low minimum to open.

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Ally Bank High Yield CD

5.0

NerdWallet rating 
Ally Bank High Yield CD

Minimum Deposit

$0

Member FDIC

APY

0.65%

Why we like it

Ally doesn't have a minimum deposit requirement.

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Synchrony Bank CD

5.0

NerdWallet rating 
Synchrony Bank CD

Minimum Deposit

$0

Member FDIC

APY

0.75%

Why we like it

Synchrony's three-year certificate term has a competitive rate with a minimum deposit lower than some online banks.

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Bank7 CD

2.5

NerdWallet rating 
Bank7 CD

Minimum Deposit

$10,000

Member FDIC

APY

0.70%

Why we like it

Bank7 only offers two terms, two- and three-year CDs, but its rates are competitive. The minimum deposit of $10,000 is steep.

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TIAA Bank Basic CD

5.0

NerdWallet rating 
TIAA Bank Basic CD

Minimum Deposit

$1,000

Member FDIC

APY

0.70%

Why we like it

TIAA Bank has a somewhat low minimum and a wide range of CDs for various terms.

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Live Oak Bank CD

5.0

NerdWallet rating 
Live Oak Bank CD

Minimum Deposit

$2,500

Member FDIC

APY

0.70%

Why we like it

Live Oak Bank provides a high-yield CD with a somewhat high opening minimum.

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Salem Five Direct CD

3.5

NerdWallet rating 
Salem Five Direct CD

Minimum Deposit

$10,000

Member FDIC

APY

0.75%

Why we like it

SalemFive Direct offers a strong rate for its three-year term, but its opening minimum of $10,000 is steep.

Read Full Review

Connexus Credit Union CD

4.5

NerdWallet rating 
Connexus Credit Union CD

Minimum Deposit

$5,000

Federally insured by the NCUA

APY

0.81%

Why we like it

Connexus Credit Union has a solid rate on its three-year share certificate, the CD equivalent for a credit union, though the opening minimum is high.

Read Full Review

Sallie Mae Bank CD

4.5

NerdWallet rating 
Sallie Mae Bank CD

Minimum Deposit

$2,500

Member FDIC

APY

0.70%

Why we like it

Sallie Mae offers solid rates, including on its three-year term. The minimum to open is hefty, though.

Read Full Review

Lake Michigan Credit Union Certificate of Deposit

4.5

NerdWallet rating 
Lake Michigan Credit Union Certificate of Deposit

Minimum Deposit

$500

Federally insured by the NCUA

APY

0.65%

Why we like it

Lake Michigan Credit Union offers a strong three-year CD rate with a low minimum. Despite its name, the credit union offers membership nationwide.

Read Full Review

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

No-penalty CDs offer more freedom

When you withdraw your money from a CD before the term expires, you generally pay a penalty of at least several months’ of interest earned.

Some providers, however, allow you to withdraw your money before the term expires, with no penalty. Keep in mind that rates may be a little lower for these no-penalty CDs.

The following three banks offer no-penalty CDs:

Best 3-year CD rates for November 2021

  • Quontic Bank: 1.00% APY.

  • PenFed: 1.00% APY.

  • Bank5 Connect: 0.85% APY.

  • Connexus Credit Union: 0.81% APY.

  • Comenity Direct: 0.80% APY.

  • Synchrony Bank: 0.75% APY.

  • SalemFive Direct: 0.75% APY.

  • TIAA Bank: 0.70% APY.

  • Live Oak Bank: 0.70% APY.

  • Sallie Mae Bank CD: 0.70% APY.

  • Bank7: 0.70% APY.

  • Ally Bank: 0.65% APY.

  • Marcus by Goldman Sachs: 0.75% APY.

  • Lake Michigan Credit Union: 0.65% APY.

  • TAB Bank: 0.65% APY.

Last updated on November 1, 2021

Methodology

On a monthly basis, we compare rates at over 20 financial institutions from our full list which we’ve seen to be consistently competitive. On a quarterly basis, we take a close look at over 70 financial institutions, including the largest U.S. banks based on assets, debit card volume, internet search traffic and other factors; the nation’s largest credit unions, based on deposits as well as broad-based membership requirements; 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; we favored those with the highest CD rates. We excluded banks that offered brokered CDs, since those accounts work differently from standard bank CDs. Higher rates might be available elsewhere.

Financial institutions surveyed include: Alaska USA Federal Credit Union, Alliant Credit Union, Ally Bank, America First Credit Union, American Express National Bank, Associated Bank, Axos Bank, Bank5 Connect, Bank7, Bank of America, Bank of the West, Barclays, BB&T, BBVA, BMO Harris, Boeing Employees Credit Union, Capital One 360, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Comenity Bank, Comerica Bank, Commerce Bank, Connexus Credit Union, Consumers Credit Union, Discover Bank, E*TRADE Bank, Fifth Third Bank, First Foundation Bank, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GoBank, Golden 1 Credit Union, Goldman Sachs Bank USA, HSBC Bank, Huntington Bank, KeyBank, Lake Michigan Credit Union, LendingClub, Live Oak Bank, M&T Bank, Nationwide Bank, Navy Federal Credit Union, NBKC Bank, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Quontic Bank, Redneck Bank, Regions Bank, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, State Employees' Credit Union of North Carolina, Suncoast Credit Union, SunTrust Bank, Synchrony Bank, TAB Bank, TCF Bank, TD Bank, TIAA Bank, U.S. Bank, UFB Direct, Union Bank, USAA, Varo, Vio Bank, Wells Fargo, Woodforest National Bank and Zions Bank.

To recap our selections...

NerdWallet's Best 3-Year CD Rates for November 2021

Frequently asked questions