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Online CD Rates – 3 Year 2017

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.

April 24, 2017

3 Year CD National Average: 0.83% ?

1.90% 2.30x $1,000
Reviews (18)
M.Y. Safra
1.85% 2.24x $5,000 Reviews
BAC Florida
1.81% 2.19x $100,000
Reviews (5)
Synchrony Bank
1.80% 2.18x $100,000
Reviews (25)
1.76% 2.13x $1,000
Reviews (1)
Nationwide Bank
1.75% 2.12x $100,000
Reviews (1)
1.66% 2.01x $10,000
Reviews (3)
Goldman Sachs Bank
1.65% 2.00x $500
Reviews (18)
1.65% 2.00x $100,000
Reviews (7)
Capital One 360
1.60% 1.93x $1,000
Reviews (1)
Sallie Mae Bank
1.60% 1.93x $2,500
Reviews (7)
Ally Bank
1.60% 1.93x $25,000
Reviews (29)
1.51% 1.83x $1,500
Reviews (10)
Barclays Bank Delaware
1.50% 1.81x $0
Reviews (14)
Ally Bank
1.50% 1.81x $0
Reviews (29)
Bank5 Connect
1.50% 1.81x $500 Reviews
Discover Bank
1.50% 1.81x $2,500
Reviews (2)
CIT Bank
1.40% 1.69x $100,000
Reviews (13)
Colorado Federal Savings Bank
1.35% 1.63x $5,000
Reviews (11)
CNB Bank Direct
1.31% 1.58x $1,000 Reviews
Bank of Internet
1.30% 1.57x $1,000 Reviews
American Express Bank, FSB
1.25% 1.51x $0
Reviews (4)
New Dominion Direct
1.20% 1.45x $1,000 Reviews
OneWest Bank
1.20% 1.45x $1,000 Reviews
1.15% 1.39x $500 Reviews
USAA Federal Savings Bank
0.96% 1.16x $175,000 Reviews
0.90% 1.09x $1,000
Reviews (3)


Three Year CDs - Online Banks 2017

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, you 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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