The best 3-year CD rates of October 2020

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Best 3 year CD rates 4x3

Summary List PlacementThe best 3-year CD rates of October 2020
Bank
APY
Minimum deposit
Next steps

1.05% to 1.10%
$1,000
Navy Federal Credit Union Navy Federal Credit Union Standard Certificate

0.90%
$1,000
First National Bank of America First National Bank of America Certificate of Deposit

0.85%
$1,500

Comenity Direct Comenity Direct Certificate of Deposit

0.81%
$1,000

First Internet Bank of Indiana First Internet Bank of Indiana Certificate of Deposit

0.75%
$0
Ally Ally Raise Your Rate CD

0.75%
$2,000
Synchrony Synchrony CD

0.75%
$1,000
TAB Bank TAB Certificate of Deposit

0.70%
$1,000
TIAA Bank TIAA Basic Certificate of Deposit

0.70%
$1,000

NBKC Bank NBKC Certificate of Deposit

0.70%
$2,500
Discover Discover CD

0.70%
$2,500
Live Oak Bank Live Oak Bank Certificate of Deposit

*As of October 2020, the national average APY on a 3-year CD is 0.27%, according to the FDIC.

Table of Contents: Masthead Sticky3-year CD rates at the largest US banks

The biggest banks in America pay lower rates than our top picks. However, it may be important to you to bank with a company you’re familiar with. Here are the rates you’ll earn on a 3-year CD with some of the most popular institutions:

Bank
APY
Next steps
Citibank
0.15%
Citibank Citibank Fixed Rate Certificates of Deposit (CDs)
Capital One
0.30%
Capital One Capital One 360 CDs®
PNC Bank
0.01% to 0.04%
PNC Bank PNC Fixed Rate Certificate of Deposit
TD Bank
0.05%
TD Bank TD Bank Choice Promotional Certificate of Deposit
Bank of America
0.03%
Bank of America Bank of America Standard Term Certificate of Deposit
Chase Bank
0.01% to 0.05%
Chase Chase Certificate of Deposit (CD)
US Bank
0.20%
US Bank US Bank Certificate of Deposit
BB&T Bank
0.01%
BB&T Bank BB&T Personal Certificate of Deposit

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If you want to grow your money but keep it safe from the turbulence of the stock market, a certificate of deposit (CD) may be a good option.

The best 3-year CD rates are at least 0.70% right now. You can snag a higher APY with longer CD terms, but 3-year CDs have their perks.

You’ll likely earn a higher APY on a 3-year CD than with a shorter-term CD, and you won’t have to part with your money for as long as you would with a longer term. Three-year terms provide a nice balance of a good rate and a relatively short length of time.

Learn more about our top picks
Navy Federal Credit Union Standard Certificate

Why it stands out: Navy Federal Credit Union pays higher rates for higher balances, but its APY is competitive even for smaller balances. Navy Federal compounds your interest daily like most banks would, unlike many credit unions that compound monthly.


3-year CD early withdrawal penalty: 180 days …read more

Source:: Business Insider

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