Leading 3-Month CD Rates Back Above 1%
BankDirect has jumped to the top of our rankings of the best 3-month CD rates — and pushed the top return back above 1%.
The online division of Texas Capital Bank, which has seven branches in all of the state’s major cities, just raised its rate to 1.01% APY with a minimum deposit of $10,000.
We don’t get to write about banks raising rates very often, so kudos to the Texas Capital bankers making their Bankaholic debut today.
They displace Goldwater Bank in Scottsdale, Ariz., which had offered the top nationally available 3-month CD rates by paying 0.85% APY with the same hefty $10,000 minimum deposit.
The next best returns on 3-month certificates of deposit are:
0.80% APY with a $10,000 minimum deposit from Virtual Bank, the online division of Lydian Private Bank in Palm Beach Gardens, Fla.
0.80% APY with a $2,500 minimum deposit from Woodlands Commercial Bank, on online bank in Salt Lake City that primarily loans to corporations and was formerly known as Lehman Brothers Commercial Bank.
0.77% APY with a $3,000 minimum deposit from NewDominion Bank, a predominantly online bank with branches in Charlotte and Mooresville, N.C.
All of the banks in our rankings allow savers to buy CDs over the Internet with no restrictions on where they must live or work.
Click here to compare these deals with the best CD rates from dozens of other banks in our database.
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- CD Rates Leaderboard For Nov. 18, 2011: iGObanking’s Good Rates Gone Again
- Abandon Ship On Capital One’s CD Rates
