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Best 3-Year CD Rates November 2018

Nov. 1, 2018
Banking, CDs
NerdWallet adheres to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from partners. Here’s how we make money.
We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.
Best 36-month CD rates | November 2018
Citizens Access

at Citizens Access,

Member, FDIC

Citizens Access

3.5 NerdWallet rating

• 3.05% APY
• $5,000 minimum deposit

Capital One 360

4.5 NerdWallet rating

• 2.80% APY
• No minimum deposit

Synchrony Bank

4.0 NerdWallet rating

• 2.85% APY
• $2,000 minimum deposit

TIAA Bank

at TIAA Bank,

Member, FDIC

TIAA Bank

3.5 NerdWallet rating

• 2.85% APY
• $5,000 minimum deposit

Bank5 Connect

at Bank5 Connect,

Member, FDIC

Bank5 Connect

4.0 NerdWallet rating

• 2.90% APY
• $500 minimum deposit

Connexus Credit Union

at Connexus Credit Union,

Federally insured by the NCUA

Connexus Credit Union

4.0 NerdWallet rating

3.35% APY
$5,000 minimum deposit

 

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

What are CDs?

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.

Can you withdraw cash early?

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.

» See what CDs can earn with our CD calculator

When does getting a CD make sense?

Ideally, you’ll take out a CD only if you’re certain that you won’t need that money before the term ends. If you want to keep your funds more accessible, a high-yield online savings account is a better choice. (Check out our list of best online savings accounts.)

What’s better: CDs or investment 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.)

Best 3-year CD rates, November 2018

Financial institutionAPYMinimum deposit
Connexus Credit Union3.35% $5,000
Citizens Access3.05%$5,000
Bank5 Connect2.90%$500
TIAA Bank2.85%$5,000
Synchrony Bank2.85%$2,000
Capital One 3602.80%No minimum deposit

METHODOLOGY

We featured easy-to-join financial institutions that we’ve reviewed with the highest rates currently listed in NerdWallet’s CD rates tool for three-year CDs. For the ZIP code and minimum deposit requirement, we used 94103 and $5,000, respectively. We also included select, standout rates from other trusted online financial institutions that we have reviewed. Higher rates might be available elsewhere.

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