10 best 3-year CD rates for April 2024 - Up to 4.66% (2024)

Best 3-year CD rates of June 12, 2024

*APYs are current as of June 12, 2024 and are subject to change. Read our complete methodology here.

The best 3-year CD rates: Our editor's top picks*

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The 10 best three-year CD rates for June

Why we picked it

First Internet Bank had the highest APY on our list at a whopping 4.61% for a 3-year CD.

If you ever need to contact customer service, First Internet Bank is a digital bank with no physical locations. You can, however, access customer service via email, chat, or phone.

Why we picked it

Quontic’s three-year CD took a spot on our list for its 4.40% APY and modest minimum required deposit compared to other accounts on our list.

Even though you won’t be able to visit a physical location, you can get in touch with customer service in a variety of ways, including phone, audio and text chat.

Why we picked it

Though Alliant had one of the lower APYs on our list, it makes up for it with many customer service options and a modest early withdrawal penalty.

Since Alliant is a digital credit union, you won’t have access to physical branch locations. You will, however, be able to contact customer service via email, chat, or phone.

Why we picked it

FNBA commands one of the highest APYs on our list at 4.60%. However, to invest in FNBA’s CDs, you’ll need some cash on hand—at least $1,000.

However, keep in mind that the early withdrawal penalties for these CDs are hefty. If you opt for this CD, make sure you're confident about committing your funds. Customers can also opt for a partial withdrawal of their funds—though this could mean missing out on some compound interest.

You can access FNBA’s customer service via phone or email.

Why we picked it

Ally’s 3-year CD rate clocks in at 4.00%, which is a competitive interest rate but still the lowest on our list. So why is it still one of the best CDs? Well, it has a $0 minimum deposit, which allows new savers to lock in a great rate, regardless of how much money they have to save.

Bonus: Ally Bank offers customers 24/7 phone, chat, and email support.

Why we picked it

MYSB Direct has a solid APY, but it also has one of the heftiest early withdrawal penalties, so you’ll want to keep your hands off your money if possible.

If you ever need help with your account, you can visit the bank’s one physical location, but you can reach customer service via email or phone.

Why we picked it

Newtek Bank has one of the highest minimum opening deposits at $2,500, but it may be worth the investment. Their 3-year CD boasts a 4.50% APY. However, if you need your money before the CD matures, you’ll have to give up around six months’ of interest.

Why we picked it

Prime Alliance offers a solid APY of 4.25%, a high interest rate but not the best on our list. The upside of investing in Prime Alliance CDs is that if you need to tap your cash before the CD matures, you'll only shell out 90 days' interest.

Why we picked it

BMO Alto’s 3-year CD boasts an APY well above 4%. Plus, there's no minimum deposit needed to start saving, making these CDs accessible to everyone, regardless of how much you have to invest.

Why we picked it

With Capital One 360 CDs, there’s no minimum opening deposit, so you can score a solid APY even if you’re just starting to invest.

The 3-year CD offers a modest 4.00% APY. Plus, if you choose to tap your money early, you’ll only give up six months of interest, which is a modest compared to other banks on our list.

What is a 3-year CD?

Most financial institutions typically offer CDs. Some CD terms are as short as a few days or as long as 10 years.

With a 3-year CD, you lock up your funds for three years, and when it matures, you can withdraw the principal amount and any interest you earned, or you can roll over those funds into a new CD.

For savers looking to lock in a high APY without committing to a longer term, like five years, a three-year CD can be a reasonable middle ground to help boost your savings.

CDs can also be a helpful investment tool if you’re saving for a specific goal, like purchasing a home or covering the cost of a wedding. Setting up a savings account with a strict timeline can help ensure you’re not dipping into money earmarked for a specific goal.

CDs with longer terms tend to offer higher APYs (though it’s not always the case), so the longer you can go without touching your funds, the more you can earn in interest.

Why some savers can benefit more from a CD

The key difference between a CD and other savings accounts—like a high-yield savings account—is that you’re trading liquidity for a higher interest rate. This trade-off can be helpful if you have trouble keeping your hands off your savings.

The rate on your CD is also guaranteed, meaning that once you open your CD and lock in that rate, the APY you earn on that CD won’t change because of market volatility or the Fed’s moves.

Best CD rates for other terms

Based on your financial goals, a CD with a shorter or longer duration might better suit your needs. There are CDs that have terms ranging from a month to a decade. By analzing Curinos data, we curated a list of the highest APYs based on term length.

More CDs to consider:

• Best overall CD rates
• Best 1-year CD rates
• Best 5-year CD rates

Our methodology

The Fortune Recommends™ team uses third-party data from industry leader Curinos, updated daily, to determine the best possible CD rates available for consumers right now. This is the most significant determining factor when deciding which financial corporation to feature in our best CD rates articles.

We ranked the best three-year CDs using the following categories:

• 3-year APY (65%): This number represents the real rate of return on your balance; the higher the APY, the better.
• Minimum deposit requirement (30%): To open a CD at any financial institution, it will require that you deposit a minimum dollar amount.
• Customer service (5%): Top picks offer customers three ways to get in contact: chat support, by phone, and even email. Among the three options, we gave phone support the most weight.

The rates, fees, and minimum deposit requirements for CDs are available for limited periods, and APYs are subject to fluctuation, which could impact how much interest you earn. All the banks and credit unions on this list are FDIC and NCUA insured, respectively. Should you terminate your CD before it matures, you may be subject to a penalty, which varies by bank.

Dig deeper:learn more about ourbanking methodology.