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15 Best 3-Year CD Rates January 2020
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Summary of Best 3-Year CD Rates January 2020
| Bank | APY | Minimum Deposit | Learn More |
|---|---|---|---|
 Goldman Sachs Bank USA | 2.10% | $500 | |
 Citizens Access at Citizens Access, Member, FDIC | 2.15% | $5,000 | at Citizens Access, Member, FDIC |
 Discover Bank | 2.05% | $2,500 | |
 Bank5 Connect at Bank5 Connect, Member, FDIC | 2.20% | $500 | at Bank5 Connect, Member, FDIC |
 Ally Bank | 1.95% | $0 | |
 Popular Direct | 2.05% | $10,000 | |
 Barclays | 2.00% | $0 | |
 PurePoint® Financial | 2.00% | $10,000 | |
 First Tech Federal Credit Union | 2.15% | $500 | |
 Synchrony Bank | 2.10% | $2,000 | |
 TIAA Bank | 2.05% | $5,000 | |
 Sallie Mae Bank | 2.15% | $2,500 | |
 Alliant Credit Union | 1.95% | $1,000 | |
 Connexus Credit Union | 2.31% | $5,000 | |
 American Express National Bank | 2.05% | $0 |
| Bank | APY | Minimum Deposit | Learn More |
|---|---|---|---|
Goldman Sachs Bank USA | 2.10% | $500 | |
Citizens Access at Citizens Access, Member, FDIC | 2.15% | $5,000 | at Citizens Access, Member, FDIC |
Discover Bank | 2.05% | $2,500 | |
Bank5 Connect at Bank5 Connect, Member, FDIC | 2.20% | $500 | at Bank5 Connect, Member, FDIC |
Ally Bank | 1.95% | $0 | |
Popular Direct | 2.05% | $10,000 | |
Barclays | 2.00% | $0 | |
PurePoint® Financial | 2.00% | $10,000 | |
First Tech Federal Credit Union | 2.15% | $500 | |
Synchrony Bank | 2.10% | $2,000 | |
TIAA Bank | 2.05% | $5,000 | |
Sallie Mae Bank | 2.15% | $2,500 | |
Alliant Credit Union | 1.95% | $1,000 | |
Connexus Credit Union | 2.31% | $5,000 | |
American Express National Bank | 2.05% | $0 |
Goldman Sachs Bank USA
APY
With $500 minimum balance
Minimum Balance
Member, FDIC
at Citizens Access,
Member, FDIC
Citizens Access
APY
With $5000 minimum balance
Minimum Balance
Member, FDIC
at Citizens Access,
Member, FDIC
Discover Bank
APY
With $2500 minimum balance
Minimum Balance
Member, FDIC
at Bank5 Connect,
Member, FDIC
Bank5 Connect
APY
With $500 minimum balance
Minimum Balance
Member, FDIC
at Bank5 Connect,
Member, FDIC
Ally Bank
APY
With $0 minimum balance
Minimum Balance
Member, FDIC
Popular Direct
APY
With $10000 minimum balance
Minimum Balance
Member, FDIC
Barclays
APY
With $0 minimum balance
Minimum Balance
Member, FDIC
PurePoint® Financial
APY
With $10000 minimum balance
Minimum Balance
Member, FDIC
First Tech Federal Credit Union
APY
With $500 minimum balance
Minimum Balance
Member, NCUA
Synchrony Bank
APY
With $2000 minimum balance
Minimum Balance
Member, FDIC
TIAA Bank
APY
With $5000 minimum balance
Minimum Balance
Member, FDIC
Sallie Mae Bank
APY
With $2500 minimum balance
Minimum Balance
Member, FDIC
Alliant Credit Union
APY
With $1000 minimum balance
Minimum Balance
Member, NCUA
Connexus Credit Union
APY
With $5000 minimum balance
Minimum Balance
Member, NCUA
American Express National Bank
APY
With $0 minimum balance
Minimum Balance
Member, FDIC
» 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:
- Marcus by Goldman Sachs Bank (read NerdWallet's full review)
- CIT Bank (read NerdWallet's full review)
- Ally Bank (read NerdWallet's full review)
Here's our list of the best 3-year CD rates for January 2020:
- Connexus Credit Union: 2.31% APY
- Bank5 Connect: 2.20% APY
- First Technology Credit Union: 2.15% APY
- Sallie Mae Bank: 2.15% APY
- Citizens Access: 2.15% APY
- TIAA Bank: 2.05% APY
- Marcus by Goldman Sachs: 2.10% APY
- Synchrony Bank: 2.10% APY
- American Express Bank: 2.05% APY
- Discover Bank: 2.05% APY
- Popular Direct: 2.05% APY
- Barclays: 2.00% APY
- Alliant Credit Union: 1.95% APY
- PurePoint Financial: 2.00% APY
Last updated on January 2, 2020
Methodology
We took 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, Aspiration, Associated Bank, Axos Bank, Bank5 Connect, Bank7, Bank of America, Bank of the West, Barclays, BB&T, BBVA, Boeing Employees Credit Union, BMO Harris, Capital One 360, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT, Citibank, Citizens Access, Citizens Bank, Comerica Bank, Commerce Bank, Connexus Credit Union, Consumers Credit Union, Discover Bank, E-Trade, Fidelity, Fifth Third Bank, First National Bank, First Tech Federal Credit Union, GoBank, Golden 1 Credit Union, GS Bank, HSBC Bank USA, Huntington Bank, KeyBank, M&T Bank, Moven, Navy Federal Credit Union, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Radius Bank, Redneck Bank, Regions Bank, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, Simple, State Employees’ Credit Union of North Carolina, State Farm Bank, Suncoast Credit Union, SunTrust Bank, Synchrony Bank, TCF Bank, TD Bank, TIAA Bank, Union Bank, UFB Direct, USAA, U.S. Bank, Varo, Vio Bank, Wells Fargo and Zions Bank.
To recap our selections...
NerdWallet's Best 3-Year CD Rates January 2020
- Goldman Sachs Bank USA: 2.10% APY
- Citizens Access: 2.15% APY
- Discover Bank: 2.05% APY
- Bank5 Connect: 2.20% APY
- Ally Bank: 1.95% APY
- Popular Direct: 2.05% APY
- Barclays: 2.00% APY
- PurePoint® Financial: 2.00% APY
- First Tech Federal Credit Union: 2.15% APY
- Synchrony Bank: 2.10% APY
- TIAA Bank: 2.05% APY
- Sallie Mae Bank: 2.15% APY
- Alliant Credit Union: 1.95% APY
- Connexus Credit Union: 2.31% APY
- American Express National Bank: 2.05% APY
Frequently asked questions
Ideally, you'll take out a CD only if you're certain that you won’t need that money before the term ends. Current CD rates tend to be higher than savings account rates. However, if you want to keep your funds more accessible, a high-yield online savings account is a better choice. (Check out our list of the best online savings accounts.)
That depends on how much risk you're willing to take. Investment accounts can have higher returns than CDs, but CDs offer guaranteed returns in the form of fixed interest rates. And they're typically federally insured for up to $250,000. Brokerage accounts can be riskier since you aren’t protected against losses. (For more information, see our list of the best online brokers.)
Although most CDs don't have monthly fees, banks typically charge early withdrawal penalties if you remove money before the CD's expiration date. The penalty is often several months' worth of interest. (If you're worried about losing access to your money for too long, consider shorter terms such as six-month CDs.)
» See what CDs can earn with our CD calculator
Certificates of deposit, or CDs, are savings accounts in which cash is locked away for a predetermined period of time, generally three months to five years.
CD rates are shown as an annual percentage yield, or APY. That number shows how much the CD earns in one year and includes compound interest. The higher the APY, the more your money will grow. Long-term CDs usually earn the highest rates. See this month’s top 3-year CD rates.
