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Online CD Rates 2020 – 3-Year CDs

Three Year Certificates of Deposit (CD) rates from online banks are often above average if you are willing to open and manage your account using the Internet. Three years is an intermediate term for CDs and banks will often pay you a bit more of a premium to keep your money locked in for a longer duration.

Highest Three-Year Online CD Rates - January 21, 2020

3 Year CD National Average: 1.21% ?

Advertiser Disclosure
2.50% 2.07x $5,000
Navy Federal Credit Union
2.35% 1.94x $100,000
Bank5 Connect
2.30% 1.90x $500
Prime Alliance Bank
2.30% 1.90x $500
Limelight Bank, A division of Capital Community Bank
2.25% 1.86x $1,000
Paramount Bank
2.25% 1.86x $1,000
BAC Florida
2.25% 1.86x $100,000
Early Withdrawal Penalty is 360 days interest.
Comenity Direct
2.20% 1.82x $1,500
Purepoint MUFG Union
2.20% 1.82x $10,000
USAA Federal Savings Bank
2.18% 1.80x $175,000
TIAA Bank / Everbank
2.15% 1.78x $1,000
Sallie Mae Bank
2.15% 1.78x $2,500
Live Oak Banking Company
2.15% 1.78x $2,500
Citizens Access
2.15% 1.78x $5,000
Early Withdrawal Penalty is 365 days interest.
TotalDirect, a division of City National Bank of Florida
2.15% 1.78x $25,000
2.12% 1.75x $500
Warning: Early Withdrawal Penalty is all credited interest.
Colorado Federal Savings Bank
2.12% 1.75x $5,000
Transportation Alliance Bank, Inc. d/b/a TAB Bank
2.10% 1.74x $1,000
Rising Bank, a division of Midwest BankCentre
2.10% 1.74x $1,000
Ally Bank
2.10% 1.74x $25,000
Synchrony Bank
2.09% 1.73x $2,000
American Express Bank, FSB
2.05% 1.70x $0
Marcus: By Goldman Sachs
2.05% 1.70x $500
Discover Bank
2.05% 1.70x $2,500
Barclays Bank Delaware
2.00% 1.65x $0
ableBanking, a division of Northeast Bank
2.00% 1.65x $1,000
2.00% 1.65x $2,500
Early Withdrawal Penalty is 180 days interest.
Early Withdrawal Penalty is 2% of principal.
Salem Five Direct
1.90% 1.57x $10,000
Radius Bank
1.85% 1.53x $500
Early Withdrawal Fee is the greater of: everything earned in the first 12 months or 30% of total dividends that would have been earned if held to maturity, but not to exceed total dividends paid.
Vio Bank, A Division of MidFirst Bank
1.70% 1.41x $500
Peoples Bank (Mississippi)
1.67% 1.38x $100,000
Capital One 360
1.65% 1.36x $1,000
Ohio Catholic
1.65% 1.36x $100,000
Northern Bank Direct
1.55% 1.28x $10,000
Ohio Catholic
1.50% 1.24x $25,000
Ohio Catholic
1.45% 1.20x $500
Incredible Bank, a division of River Valley Bank
1.41% 1.17x $1,000
Axos Bank, a division of Bofi Federal Bank
1.30% 1.08x $1,000
CIT Bank
1.30% 1.08x $1,000
OneWest Bank, a division of CIT Bank
1.20% 0.99x $1,000
BankPurely, a division of Flushing Bank
0.15% 0.12x $1,000
All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.


Three Year CDs - Online Banks 2020

Three year CDs from online banks offer a yield that is between .30 and .60 percentage higher than a one year CD from an online bank. While in general, online banks offer higher CD rates than branch-based banks, some smaller community banks and credit unions offer rates even higher than online banks. Savers should compare online and branch based rates if looking for the highest rate irrespective of how the CD is opened and managed.

A three year CD is a medium term CD and commits the user to keeping the money in the bank for three years in return for a fixed rate during this period of time.

When to Open

In general, in a rising rate environment savers should keep their money liquid and not commit it for long periods of time. Three year CDs offer a compromise as an intermediate amount of time to lock money with a premium for doing so.

In a falling rate environment, savers should try and lock in their money for as long as possible. Three year CDs can also play a role in this type of environment depending on how long savers think rates will fall and stay low. For example, following the financial crisis in 2008, when the top CD rates were above 6% APY; with the benefit of hindsight, a saver would have been wise to lock money into a 5 year CD, preserving that 6% rate into 2013.

Some savers like to use three year CDs as part of a CD ladder, in which different term CDs help to diversify the portfolio from changes in interest rates.

All banks listed on BestCashCow are FDIC insured; strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.


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