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Online CD Rates 2022 – 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 - October 1, 2022

3 Year CD National Average: 0.64% ?

Advertiser Disclosure
BANK APY? MIN?

| Aug 26, 2022

Too slow to raise rates. Read More

Warning: Early Withdrawal Penalty is 2% of the account balance.

| Apr 12, 2021

Frustrating. The initial application form is a breeze. Then the problems start. Many hoops to jump through.

| Sep 22, 2022

Super easy to join. Happy to receive 3.51% on a 12 month CD!

| Jun 25, 2020

Nope. As with the CIT quote 1.25% APY is a bit optimistic. Banesco's site offers .90%.

| Jul 1, 2022

Very easy opening process and wonderful staff.

| Sep 24, 2022

Was going to open a savings acct ----- after reading the reviews, NO WAY. Don't make it difficult for customers, (or potential customers), to do business with you. Read More

| Jun 23, 2022

ING was better. They were bought by CapitalOne and ever since, my rates have steadily dropped. Now that rates in general have been rising for months, mine has been flat at 0.30%. No sign of them going up, ... Read More

Early Withdrawal Penalty is 365 days interest.

| Apr 10, 2021

I opened an account a couple of years ago and had a dreadful experience. I saw two weeks ago that the rate was better than at Citizens so I closed that account for this one. I cannot access my money now or... Read More

Department Of Commerce Federal Credit Union
Restrictions
3.39% $500 Learn More

| Oct 19, 2018

Terrible Bank. Terrible Service. I tried to put a ton of money into a cd there. They rejected my application. Took them 6 days to tell me my money was no good. WTF? WORST Service EVER!

| Jul 17, 2021

I've been with this bank for 6 months and have not had any problems. Bill pay works good. The 24 month investing CD is another vechile I use. Rates are above average considering the national rate. I'd reco... Read More

| Sep 11, 2022

If I could leave a -10 star review I would do it in a. This is a classic example of a ridiculously unmanaged government program with zero oversight and zero sensibility. In April 2022 I applied for a st...

Early Withdrawal penalty is 6 Months' interest.

| Jul 1, 2022

not really an onllne bank. compare this interface that gives you no information with that of any other bank (I cannot even confirm the rate). cannot switch in and out of cds or np cds. just not an online b... Read More

| Aug 20, 2022

Great experience with Ivy Bank! They are constantly updating their rate to stay competitive. Since I've opened my account they've increased my rate 4 or 5 times. It's easy to apply and open and have had no... Read More

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.

| Aug 10, 2022

While they offered good rates, I got nothing but the runaround on membership. Twice submitted required forms in which they said were not clear enough, but only after I called them to see what the holdup w...

| Jun 25, 2022

I've been in and out of igo. I usually carry a large balance when they are rate competitive (half the time) and move by money somewhere else when they aren't (the other half). The $3,000 transfer limit is ... Read More

| May 2, 2022

Barclays is the worst. Transfer speeds even worse than Synchrony now. Service is worse than anything. Save yourself the trouble of getting sucked into rates that are sometimes competitive and choose anythi...

| Aug 6, 2022

The idea that they aren't competing is wrong. They'll give you 1% more on your savings if you run around promoting their brand and get a friend to sign up. Great marketing scheme actually, since those so i... Read More

| Sep 14, 2020

two thumbs up Read More

| Jul 15, 2021

I finally closed my account. Was great back in the day as everbank but now it is a joke in every way. Read More

| Jun 13, 2022

3 days for an ach is not market when most banks on this list do it instantly. even frigging rising bank. customer service is beyond dreadful. Read More

| Sep 1, 2022

updated review - The bank managed to finally provide the requested document listing the beneficiary after a number of calls. So will add a few stars. The website still needs some work to be more descript... Read More

| Sep 20, 2022

Prime Alliance Bank has a single branch (outside Salt Lake City) and does an excellent job with distance banking (we are based in Washington state). It stands out in several ways: (1) Interfacing with the...

| Mar 19, 2022

Problem with ties to puppy mills. I closed a cct. https://www.americanbanker.com/news/tab-bank-dragged-into-seedy-world-of-puppy-mill-loans-by-fintech-partner

Early Withdrawal Penalty is 360 days interest.

| Apr 22, 2015

Hello, I am interested in a line of credit against my home. I have a high interest credit card that I want to move to this credit. I have a wells fargo mortgage which is only a few years old which I do no...

| Aug 16, 2022

ally is still the gold standard in online banking, but the rate needs to get more competitive and the wait to speak to someone on the phone is just ridiculous. Read More

| Sep 23, 2022

I know that the bank is supposedly FDIC insured but the entire soft money lending thing upon which this business is predicated is about to go go under so look out below!

| Sep 1, 2022

awful POS. Sucks. Bad. crappy. Read More

| Aug 31, 2022

you can view but you wont get in. application can't go through, they can't help even you called, Bank just make show they exit. Read More

Seattle Bank
2.43% $1,000 Learn More

Early Withdrawal Penalty is all interest earned.

| Mar 30, 2021

These guys are the best local bank. Very responsive.

| Dec 8, 2020

Everyone here in Boston raves about Salem Five but it is shithole operation filled with nasty entitled people. As for this online savings product, the fees are ridiculous, the transfer charges are obnoxiou... Read More

| Oct 11, 2020

You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag... Read More

| Aug 31, 2022

never had a problem moving money in/out. After trying a couple banks with higher rates but less service will be moving my money back here. Read More

| Nov 9, 2020

Here's what you will need: To be a resident of New Jersey or select Eastern Pennsylvania counties (the zip code provided in your application will receive an error stating "Zip code is not valid for this ap...

| Mar 4, 2021

They are liers. Please don't open their credit cards to avoid being taking advantage of!!! I hope they bankrupt SOOOOOON. Read More

Home Savings Bank
0.60% $5,000 Learn More

Warning: Early Withdrawal Penalty is 2% of principal.

| Sep 6, 2019

Went to bank yesterday this is not a good rate. Needs to be updated. Read More

OneWest Bank, a division of First-Citizens Bank and Trust
0.50% $1,000 Learn More

$1,000 minimum deposit to open an account. A penalty may be imposed for early withdrawal. Account fees may reduce your earnings.

| May 21, 2021

avoid this Read More

| Jun 2, 2022

I've been a customer since CIT emerged from the financial crisis as a real competitor in this space (14 years or so). Zero complaints about anything over this time ... until today. Now they are offering a... Read More

| Jun 26, 2022

ACH transfers are not allowed. Called and was told that I had to set up wire transfers (and pay fees) or I could come in to the bank and get a bank check. Read More

Edu Federal Credit Union
Restrictions
0.25% $500 Learn More

| Aug 13, 2019

I filled out the application 10 days ago answering all questions and sent a file with a copy of my drivers license to Western Bank. I received an email saying that a banker would call me within one busines...

| Jun 10, 2022

This bank hasn't raised their rates! Maybe I was sleeping but I need to get out of here fast. Read More

Ohio Catholic Fcu Federal Credit Union
Restrictions
0.25% $100,000 Learn More

| Sep 14, 2022

you need open new account once interest going up, keep in mind your savings account only go down never go up unless you open new account. Read More

Ohio Catholic Fcu Federal Credit Union
Restrictions
0.20% $25,000 Learn More

| Aug 15, 2019

I applied for a jumbo CD account over two weeks ago. They asked me for more documentation than my mortgage company did and then they did a hard credit pull. They advertise fast and simple they are simply n...

| Apr 18, 2018

Worst experience of my life. Did not fund and gave $25 to my own charity. Read More

| Aug 8, 2022

Left USAA after 30 years and never looked back. The rates were high and the claims problems were horrible once a major claim hit (my first and only one). Much happier since leaving USAA (and there rigid, u... Read More

All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

PRODUCT INFORMATION

Three Year CDs - Online Banks 2022

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; BestCashCow.com 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.