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CompareEditor's Best
The shortest term you can find on a CD is three months. They make a perfect savings option for those that want high interest rates without locking up their money for long periods of time.
The best 3-month CD rates for June 2024 can go over 5% APY – much higher than you can get from traditional savings accounts, which typically pay around 0.20% APY.
Some banks offer 3-month CDs with no minimum balance, while others require a minimum deposit of $100,000.
Best 3-month CD Rates
- TotalBank CD - 5.51% APY
- Community Savings CD – 5.30% APY
- MutualOne Bank CD – 5.65% APY
- Charles Schwab Bank CD – 5.56% APY
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Updating Savings Accounts
MutualOne Bank • 3 Month CD
5.0WalletHub Rating
WalletHub Rating
5.0
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this CD for various consumer needs and picked the rating for the need with the highest score, which is "Saving a large amount for 3 months."
Market Comparison
5.0
Interest Rates: 5.0
savings: 5.0
Other Features: 4.5
APY
5.65%
Monthly Fee
None
Save $565*
More Details
Charles Schwab Bank • 3 Month CD
4.8WalletHub Rating
WalletHub Rating
4.8
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this CD for various consumer needs and picked the rating for the need with the highest score, which is "Saving a large amount for 3 months."
User Reviews
3.5
Market Comparison
4.9
Interest Rates: 5.0
savings: 5.0
Other Features: 4.0
APY
5.56%
Monthly Fee
None
Signup Bonus
None
Save $556*
More Details
Shoreham Bank • 3 Month CD
4.9WalletHub Rating
WalletHub Rating
4.9
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this CD for various consumer needs and picked the rating for the need with the highest score, which is "Saving a large amount for 3 months."
Market Comparison
4.9
Interest Rates: 5.0
savings: 5.0
Other Features: 4.0
APY
5.50%
Monthly Fee
None
Signup Bonus
None
Save $550*
More Details
Popular Bank • 3 Month CD
4.6WalletHub Rating
WalletHub Rating
4.6
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this CD for various consumer needs and picked the rating for the need with the highest score, which is "Saving an above-average amount for 3 months."
Market Comparison
4.6
Interest Rates: 4.8
savings: 5.0
Other Features: 0.0
APY
5.30%
Monthly Fee
None
Signup Bonus
None
Save $530*
More Details
Banesco USA • 3 Month CD
4.7WalletHub Rating
WalletHub Rating
4.7
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this CD for various consumer needs and picked the rating for the need with the highest score, which is "Saving an average amount for 3 months."
Market Comparison
4.7
Interest Rates: 4.8
savings: 4.9
Other Features: 2.0
APY
5.25%
Monthly Fee
None
Signup Bonus
None
Save $525*
More Details
Brilliant Bank • 3 Month CD
4.6WalletHub Rating
WalletHub Rating
4.6
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this CD for various consumer needs and picked the rating for the need with the highest score, which is "Saving an above-average amount for 3 months."
Market Comparison
4.6
Interest Rates: 4.6
savings: 4.8
Other Features: 3.0
APY
5.10%
Monthly Fee
None
Signup Bonus
None
Save $510*
More Details
PlainsCapital Bank • 3 Month CD
4.6WalletHub Rating
WalletHub Rating
4.6
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this CD for various consumer needs and picked the rating for the need with the highest score, which is "Saving an above-average amount for 3 months."
Market Comparison
4.6
Interest Rates: 4.6
savings: 4.8
Other Features: 3.0
APY
5.08%
Monthly Fee
None
Signup Bonus
None
Save $508*
More Details
Middlesex Savings Bank • 3 Month CD
4.6WalletHub Rating
WalletHub Rating
4.6
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this CD for various consumer needs and picked the rating for the need with the highest score, which is "Saving an average amount for 3 months."
Market Comparison
4.6
Interest Rates: 4.5
savings: 4.7
Other Features: 4.5
APY
5.00%
Monthly Fee
None
Signup Bonus
None
Save $500*
More Details
Liberty Bank • 3 Month CD
4.5WalletHub Rating
WalletHub Rating
4.5
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this CD for various consumer needs and picked the rating for the need with the highest score, which is "Saving an above-average amount for 3 months."
Market Comparison
4.5
Interest Rates: 4.4
savings: 4.6
Other Features: 4.0
APY
4.85%
Monthly Fee
None
Signup Bonus
None
Save $485*
More Details
NexBank • 3 Month CD
4.2WalletHub Rating
WalletHub Rating
4.2
This product has been scored using WalletHub’s proprietary rating system for banking products. We evaluated this CD for various consumer needs and picked the rating for the need with the highest score, which is "Saving an above-average amount for 3 months."
Market Comparison
4.2
Interest Rates: 4.4
savings: 4.5
Other Features: 0.0
APY
4.80%
Monthly Fee
None
Signup Bonus
None
Save $480*
More Details
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2024 Best 3-month CD Rates
| Best: | CD | APY |
| Overall CD | MutualOne Bank CD | 5.65% |
| Jumbo CD | TotalBank CD | 5.51% |
| Online CD | MutualOne Bank CD | 5.65% |
| Brick-and-Mortar CD | Charles Schwab Bank CD | 5.56% |
| Business CD | Community Savings CD | 5.30% |
| Credit Union CD | Dow Credit Union CD | 5.30% |
Methodology for Finding the Best 3-month CD Rates
To identify the best 3-month CD rates, WalletHub analyzed over 600 offers from local and national financial institutions. We prioritized accounts’ APY, while also considering minimum required funds and early withdrawal penalties. Our evaluation aimed to find options with attractive yields, manageable deposits, and minimal penalties. Our goal was a comprehensive assessment that balances attractive yields, practical deposits, and lenient withdrawal policies.
Questions & Answers
Comparing Savings Accounts can be tough. But you've got the knowledgeable WalletHub community on your side. Other consumers have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not the financial institution's responsibility to ensure all posts and questions are answered.
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Irrespective of whether an institution or professional is a paid advertiser, the presence of information on WalletHub does not constitute a referral or endorsem*nt of the institution or professional by us or vice versa.
We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. Actual terms may vary. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
