Skip to content

Best 3-Year CD Rates

These are the banks and credit unions with the best 3-year CD rates and terms

We recommend the best products through an independent review process, and advertisers do not influence our picks. We may receive compensation if you visit partners we recommend. Read our advertiser disclosure for more info.

Three-year CDs are an easy way to earn some serious interest on a lump sum of cash that you won’t need to touch for a while. They’re in the middle of the range of CD terms (most banks offer terms from about three months to five years) and as such, they can be an important component of a CD ladder. 

We review more than 150 banks and credit unions to find the best rates available nationwide for 3-year CDs. We track annual percentage yields and re-evaluate the list every weekday. All accounts are available to the public and are insured by either the Federal Deposit Insurance Corp. or the National Credit Union Administration. 

For this list, we considered products that lock in deposits for 30 to 41 months. Our rankings are based primarily on the best APY. In the case of a tie, we then look at the CD with the shortest term, then with the lowest minimum deposit required to earn the APY. From there, we compare the penalties for early withdrawal. These factors allow us to ultimately decide which banks earn their spots in our rankings.

Scroll down for the top 3-year CD rates available as of March 20, 2023. Unless otherwise noted, all require you to leave your money on deposit for 36 months.

Best 3-Year CD Rates

Bank or Credit Union APY Minimum Deposit Early Withdrawal Penalty
Credit Human (24–35 months) 5.50% $500 270 days of interest ($50 minimum)
Quorum Federal Credit Union 5.15% $1,000 12 months of interest
Summit Credit Union 4.85% $500 6 months of interest
Genisys Credit Union (30 months) 4.84% $500 180 days of dividends
Three Rivers Federal Credit Union (33 months) 4.75% $10,000 6 months of interest
All In Credit Union 4.75% $1,000 3 months of interest
Credit Human (36–59 months) 4.65% $500 365 days of interest ($50 minimum)
Heartland Credit Union (30 months) 4.60% $500 180 days of dividends
CFG Bank 4.60% $500 6 months of interest
Seattle Bank 4.60% $1,000 6 months of interest

Credit Human

Credit Human was formed in San Antonio, Texas, in 1935 to serve members of the National Federation of Federal Employees Local #28 union. It took the name Credit Human in 2016.

Membership is available nationwide to anyone who joins the American Consumer Council, and Credit Human agrees to pay the fee to join the ACC.

The credit union has several branches throughout Texas, but members nationwide can access their accounts through online banking, a mobile app, or through CO-OP's shared branching network. Credit Human is not part of a fee-free ATM network.

Quorum Federal Credit Union

Quorum Federal Credit Union began in Chicago in 1934 as Kraft Employees Credit Union. In 2005, it took the name Quorum Federal Credit Union and expanded membership to additional employee groups, and in 2014, it launched its online banking services.

It has one service center at its headquarters in Purchase, NY, and another in Deerfield, Illinois. Additionally, customers have access to more than 85,000 ATMs nationwide and an online banking app.

Membership is available to employees of KraftHeinz, Mastercard, Philip Morris, and dozens of others. Those not employed by one of the partner groups still can join by becoming a member of the American Consumer Council.

Summit Credit Union

Summit Credit Union was founded in Madison, Wisconsin in 1935 as CUNA Credit Union. It claims to be the first credit union with an open charter, meaning anyone could be a member. After merging with the former State Capitol Employees Credit Union in 2008, it took the name Summit Credit Union.

Summit has numerous locations throughout the southeastern portion of Wisconsin, mostly in the Madison and Milwaukee areas. For those who do not live near a branch, accounts can be opened and managed either online or through an app compatible with both Android and Apple devices.

Genisys Credit Union

Genisys Credit Union dates back to 1936 and has more than 30 locations in Michigan, Minnesota, and Pennsylvania. Membership is available to anyone nationwide with a $5 donation to the Arthritis Foundation and by maintaining a minimum $5 balance in a savings account.

Genisys is part of the CO-OP shared branch network, which provides access to more than 5,000 branches and more than 30,000 ATMs. Members also can do their banking online or through a mobile app available on Apple and Android devices.

Three Rivers Federal Credit Union

Headquartered in Fort Wayne, Indiana, Three Rivers—stylized as 3Rivers—Federal Credit Union was founded in 1935 as the International Harvester Company Fort Wayne Works Employee Federal Credit Union. The credit union expanded its field of membership and took its current name in 1982.

Membership is available nationwide to anyone who joins the American Consumer Council, and Three Rivers will cover the membership dues. The credit union has more than 20 branches, all but one of them in Indiana. The other branch is in Ohio, and Three Rivers also is part of the CO-OP network of shared branches and ATMs and the Alliance One and Moneypass ATM networks. Accounts also can be managed online or through an app for Android and Apple devices.

All In Credit Union

All In Credit Union originally was chartered as Army Aviation Center Federal Credit Union in 1966 to serve soldiers stationed at Fort Rucker in Alabama. It has been known as All In since 2019. In addition to CDs, members have access to checking and savings accounts, loan services, and more. Membership is available to anyone nationwide who joins the Fort Rucker/Wiregrass Chapter of the Association of the United States Army. A basic 2-year membership is free.

The credit union has numerous branches in Alabama, Florida, and Mississipi and also is part of the CO-OP network of shared branches. Members also can open and manage accounts online or through an app for Android and Apple devices.

Heartland Credit Union

Heartland Credit Union began in 1948 as Hutchinson Teachers Credit Union in Hutchinson, Kansas, with 14 members and $315 in assets. The credit union has seven physical branches in Hutchinson, Wichita, and the surrounding areas in Kansas, but anyone can manage an account through online banking or the CO-OP ATM network.

Membership is available nationwide to anyone working in or retired from nearly two dozen broadly defined professions. Those not certain of their eligibility are encouraged to contact the credit union directly.

CFG Bank

CFG Bank is a privately owned and operated bank that dates back more than 90 years and is headquartered in Baltimore. As the 12th largest bank in Maryland, it serves mainly the mid-Atlantic region, but any U.S. citizen or legal resident who is 18 years or older can apply for a CD account. You’ll also need a valid Social Security number and a physical address in the U.S. CFG Bank offers CDs with multiple terms ranging from 12 months to 60 months. In addition, the bank has checking accounts, money market accounts, and more.

Seattle Bank

Seattle Bank dates back to the 1940s when it began as Seattle Mortgage Company. It expanded into personal and business banking in the early 2000s. The bank has one branch in Seattle, but anyone nationwide can open an account and manage it online or through the mobile app, available on Android and Apple devices.

What Is a 3-Year CD?

A certificate of deposit (CD), offered by banks and credit unions, provides a fixed interest rate (typically higher than other account types) in return for the account holder agreeing to leave the deposit for a set amount of time. Because the rate is fixed, the account holder knows exactly how much the CD will earn when it matures. For a 3-year CD, the account holder agrees not to touch the deposit for 30-41 months, depending on the bank or credit union. At the end of the term, the full interest will be added to the deposit amount. The customer then has the option to withdraw the full amount or renew or change the CD.

Who Is a 3-Year CD Best For?

A 3-year CD is appropriate for someone who wants to earn more interest than a typical savings account would offer.

A common reason to consider a 3-year CD is to save for some sort of life milestone that is set to take place a few years in the future. Perhaps your daughter’s Sweet 16 or a big wedding anniversary trip to Europe is on the horizon. The idea is that it’s an investment for the not-so-near future. Opening a CD helps safeguard your money, and lets you collect some interest while you wait for it to mature.

Typically, the longer the term, the higher the rate you’ll receive. A 3-year CD also can be used as part of a CD ladder. With a CD ladder, you buy CDs of varying lengths to mitigate the risks of locking all your money into one long-term CD.

You have to be OK with locking up your money for three years. That’s because there usually are early withdrawal penalties, and if you have to give back earnings to pay those penalties, it will have been a wasted opportunity.

What’s the Difference Between Interest Rate and Annual Percentage Yield (APY)?

The interest rate is what the bank actually pays you for your money. The APY is what you actually receive, on an annualized basis, after fees and compounding interest are factored in. If you’ve wondered why the advertised interest rates on CDs often are lower than their APYs, it’s because of compounding interest—the bank is paying interest on the interest it has already paid you!

What Are the Alternatives to a 3-Year CD?

If you’re looking for a savings option, a 3-year CD is just one of them. When choosing the best approach for you, the key is to think about your current financial situation, your goals, and your saving/spending habits. Beyond a 3-year CD, there are some other options to consider.

If you know you want to go the CD route, you may decide to go with a shorter or longer term, depending on your needs. Shorter-term CDs allow you access to your money sooner but probably will have a lower APY. Longer terms likely will earn more but will separate you from your money for a bigger stretch of time.

If you’d rather not tie up your money, you might consider an online savings account. Some APYs are close to what you’d earn from a 3-year CD. The difference is that savings account rates fluctuate. If opening a CD will help ensure that you won’t end up spending your savings, then that route might make the most sense for you.

If you prefer instant account access, we have partnered with the following banks to bring you the high-yield savings and money market account offers displayed in the table.


Getty Images / tazytaz

Related Articles