Advertiser Disclosure

Best 3-Year CD Rates January 2019

Jan. 2, 2019
Banking, CDs
At NerdWallet, we adhere to strict standards of editorial integrity to help you make decisions with confidence. Many or all of the products featured here are from our partners. Here’s how we make money.
Best 36-month CD rates | January 2019
Citizens Access

at Citizens Access,

Member, FDIC

Citizens Access

3.5 NerdWallet rating

• 3.05% APY
• $5,000 minimum deposit

Popular Direct

3.5 NerdWallet rating

• 3.30% APY
• $10,000 minimum deposit

PurePoint

3.0 NerdWallet rating

• 3.00% APY
• $10,000 minimum deposit

TIAA Bank

at TIAA Bank,

Member, FDIC

TIAA Bank

3.5 NerdWallet rating

• 2.92% 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

Vio Bank

at Vio Bank,

Member, FDIC

Vio Bank

4.0 NerdWallet rating

3.05% APY
$500 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, January 2019

Financial institutionAPYMinimum deposit
Popular Direct3.30%$10,000
Connexus Credit Union3.35% $5,000
Vio Bank3.05%$500
Citizens Access3.05%$5,000
TIAA Bank2.92%$5,000
PurePoint3.00%$10,000
Bank5 Connect2.90%$500

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.

About the author