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Best 3-Year CD Rates May 2019

May 1, 2019
Banking, CDs
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

 

 

Best 36-month CD interest rates | May 2019
Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

Marcus by Goldman Sachs

4.0 NerdWallet rating

• 2.70% APY
• $500 minimum deposit

Capital One 360

4.5 NerdWallet rating

2.80% APY
No minimum deposit

Barclays

4.0 NerdWallet rating

• 2.75% APY
• No minimum deposit

Discover

at Discover,

Member, FDIC

Discover Bank

4.5 NerdWallet rating

• 2.75% APY
• $2,500 minimum deposit

American Express

4.0 NerdWallet rating

• 2.80% APY
• No minimum deposit

PurePoint

3.0 NerdWallet rating

• 2.90% APY
• $10,000 minimum deposit

Alliant Credit Union

4.5 NerdWallet rating

• 2.75% APY
• $1,000 minimum deposit

Connexus Credit Union

4.0 NerdWallet rating

3.10% APY
$5,000 minimum deposit

Popular Direct

3.5 NerdWallet rating

• 2.90% APY
• $10,000 minimum deposit

Bank5 Connect

at Bank5 Connect,

Member, FDIC

Bank5 Connect

4.0 NerdWallet rating

• 2.90% APY
• $500 minimum deposit

TIAA Bank

3.5 NerdWallet rating

• 2.83% APY
• $5,000 minimum deposit

Synchrony Bank

4.0 NerdWallet rating

2.85% APY
$2,000 minimum deposit

Citizens Access

4.0 NerdWallet rating

• 2.90% 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 (if that interests you, see the best five-year 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. (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

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. 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 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.)

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.

Here are some examples of CDs that give you more freedom with your money.


4.0 NerdWallet rating



4.0 NerdWallet rating


4.5 NerdWallet rating




No-penalty 11-month APY


2.30%



Minimum deposit



$500



No-penalty 11-month APY


2.05%



Minimum deposit



$1,000



No-penalty 11-month APY


1.80%-2.30%



Minimum deposit



No minimum
(but $5,000 and $25,000 result in higher rates)

Compare other current CD rates

[Back to top]

Best 3-year CD rates, May 2019

Financial institutionAPYMinimum deposit
Connexus Credit Union3.10% $5,000
PurePoint2.90%$10,000
American Express2.80%No minimum
Bank5 Connect2.90%$500
Citizens Access2.90%$5,000
Popular Direct2.90%$10,000
Capital One 3602.80%No minimum
Synchrony Bank2.85%$2,000
TIAA Bank2.83%$5,000
Barclays2.75%No minimum
Alliant Credit Union2.75%$1,000
Discover Bank2.75%$2,500
Marcus by Goldman Sachs2.70%$500

METHODOLOGY

We featured easy-to-join financial institutions that we’ve reviewed with the highest CD 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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