Three-month CDs are typically best for individuals looking to make short-term investments, but who are not keen on taking risks with their money. If you can relate to that sentiment, you may be interested in knowing which institutions are offering the best rates. Fortunately, we’ve done a lot of the heavy lifting for you by putting together this overview of the best 3 month CD rates. Here’s a look at how we chose them. (Jump down to our list of the best 3 month CD rates if you just want to see who made the list.)
3 Month Certificate
3 Month Certificate
92 - 182 Day CD
We used data from DepositAccounts.com, a LendingTree company, to compare CD rates by annual percentage yield (APY). We excluded institutions with a health rating below a B, as well as credit unions with very restrictive membership requirements.
Next, we chose the ten CDs with the highest APY. If two CDs had the same APY, we broke the tie by choosing the one with the lower minimum deposit. (We consider the one with the lower minimum a better choice since it will be available to more people.)
All products discussed on this page are insured by either the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA).
CD laddering, as our subsidiary MagnifyMoney explains, is a great strategy to allow you to have frequent access to your money for reinvestment while still using long-term CDs as an investment strategy. If you have $1,000 to invest, it may look something like this:
Three-month CD: $250
Six-month CD: $250
Nine-month CD: $250
12-month CD: $250
When the CDs come to maturity, you could continue to reinvest at the current term or go with a longer term, for example, one year. Because of the staggered start times, you’ll have CDs coming to maturity every three months. You’ll usually earn higher rates from your longer-term CDs. However, you’ll still have frequent access to your funds as they mature in your shorter-term investments.