Best 3-month CD rates for February 2025

Written by
Karen Bennett
Edited by
Marc Wojno, MBA
Reviewed by
Robert R. Johnson

Rates updated between Feb. 14 and Feb. 20 | Content updated Jan. 29

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A three-month certificate of deposit (CD) allows you to earn a fixed rate on your money in the short term. When considering a three-month CD, it can pay to compare the rate with those offered from high-yield savings accounts. Only commit money to a three-month CD that you won’t need before the term ends, or else an early withdrawal penalty could eat up your interest earnings.

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Bankrate’s picks for top 3-month CD rates

Note: Annual percentage yields (APYs) shown were updated between Feb. 14 and Feb. 20. Bankrate's editorial team validates this information regularly, typically biweekly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its listings.

Quontic Bank_logo

Quontic Bank

4.0 Bankrate CD score

  • Annual percentage yield

    4.50%

  • Min. deposit to open

    $500

Why Quontic Bank?

Quontic Bank is an online bank that offers CDs as well as savings, money market and checking accounts. A $500 minimum deposit is required to open a Quontic Bank CD and five terms are offered, ranging from six months to five years.

America First Credit Union_logo

America First Credit Union

5.0 Bankrate CD score

  • Annual percentage yield

    4.35%

  • Min. deposit to open

    $500

Why America First Credit Union?

America First Credit Union was founded in 1939 in Salt Lake City. It has CDs with terms ranging from three months to five years. The minimum opening deposit for CDs is $500. It also offers a variety of checking and savings accounts.

Bank5 Connect_logo

Bank5 Connect

3.9 Bankrate CD score

  • Annual percentage yield

    4.35%

  • Min. deposit to open

    $500

Why Bank5 Connect?

Bank5 Connect's CDs start with a minimum deposit of $500, offering eight terms ranging from three months to three years, including an add-on CD called a 24-month Investment CD. While most APYs are competitive, the 3-year CD has a notably lower rate.

Popular Direct_logo

Popular Direct

4.0 Bankrate CD score

  • Annual percentage yield

    4.25%

  • Min. deposit to open

    $10,000

Why Popular Direct?

Popular Direct CDs are for established savers, since the CDs have a $10,000 minimum deposit requirement. The CDs have eight fixed terms, from three months to five years. Popular Direct’s Select Savings account offers a competitive yield and requires a $100 minimum deposit. All Popular Direct deposit accounts are opened through Popular Bank.

EverBank_logo

EverBank

4.1 Bankrate CD score

  • Annual percentage yield

    3.95%

  • Min. deposit to open

    $1,000

Why EverBank?

EverBank offers CD terms ranging from three months to five years. It also offers a bump-rate CD, which allows a one-time rate bump should rates go higher. EverBank offers a service for customers with deposits that exceed the FDIC insurance limit of $250,000. Funds are spread around to different federally insured banks to expand insurance coverage.

SchoolsFirst Federal Credit Union_logo

SchoolsFirst Federal Credit Union

4.5 Bankrate CD score

  • Annual percentage yield

    3.85%

  • Min. deposit to open

    $500

Why SchoolsFirst Federal Credit Union?

SchoolsFirst Federal Credit Union was formed by school employees in 1934, during the Great Depression. Today, it has 69 branches. SchoolsFirst Federal Credit Union has CD terms ranging from 30 days to five years. CDs at this credit union have five balance tiers: $500, $20,000, $50,000, $100,000 and $250,000.

Bank of America_logo

Bank of America

2.9 Bankrate CD score

  • Annual percentage yield

    3.75%

  • Min. deposit to open

    $1,000

Why Bank of America?

Bank of America offers a wide range of CDs with terms from 28 days to 10 years, all of which require a $1,000 minimum deposit. While some of the CD terms currently earn competitive rates, most only earn minimal yields. Other deposit accounts Bank of America offers include its Advantage Savings, which earns a minimal APY that’s below the national average. Checking account options include a noninterest-bearing account as well as one that earns interest. Bank of America doesn’t offer a money market account.

First Internet Bank of Indiana_logo

First Internet Bank of Indiana

4.1 Bankrate CD score

  • Annual percentage yield

    3.72%

  • Min. deposit to open

    $1,000

Why First Internet Bank of Indiana?

First Internet Bank of Indiana was the first FDIC-insured financial institution to operate entirely online, according to the bank’s website. It opened in February 1999 and serves all 50 states. First Internet Bank offers eight terms of CDs, a money market savings account with a competitive yield, a savings account and two checking accounts.

Golden 1 Credit Union_logo

Golden 1 Credit Union

4.5 Bankrate CD score

  • Annual percentage yield

    3.00%

  • Min. deposit to open

    $500

Why Golden 1 Credit Union?

Golden 1 Credit Union was founded in Sacramento, California, in 1933. It has more than 1 million members and over 60 branches in California. Membership to Golden 1 Credit Union is open to all Californians. Non-Californians can join Golden 1 Credit Union if they are a registered domestic partner or family member of a current member or if they’re a member of one of the nearly 1,000 Select Employee Groups.

Ally Bank_logo

Ally Bank

4.6 Bankrate CD score

  • Annual percentage yield

    2.90%

  • Min. deposit to open

    $0

Why Ally Bank?

Ally Bank is an online-only bank formerly known as GMAC Bank. Ally offers seven terms of CDs, a no-penalty CD and two terms of a Raise Your Rate CD. The Sandy, Utah-based bank also offers a savings account, an interest-bearing checking account and a money market account. Ally has 11 million customers with deposit accounts.

How to find the best 3-month CD rates

Comparison shopping is key when you’re looking for the best three-month CD rates. There are multiple types of CDs, including bump-up, step-up and liquid CDs. But the top three-month CD rates are usually found with traditional CDs.

Check out the best three-month CDs offered by banks and credit unions and weigh the pros and cons of going with a short-term CD over an account that’s more liquid. Don’t forget to crunch the numbers and calculate how much interest you could earn by the end of your term.

Annual percentage yields (APYs) on CDs can vary greatly among banks, so it pays to shop around on a site such as Bankrate for a CD with the highest yield. Often, online-only banks and some credit unions pay considerably higher rates than large brick-and-mortar banks.

A benefit of a three-month CD is it only ties up your money for a relatively short period of time, yet a drawback is you’ll often find higher rates from longer-term CDs. Currently, some shorter-term CDs are earning higher APYs than longer-term CDs, although that hasn’t always been the case.

Other factors to consider when choosing a three-month CD include minimum deposit requirements as well as what the penalty is for early withdrawals.

When should you get a 3-month CD?

Whether a three-month CD is right for you depends on your own financial situation and goals. Due to its short term, a three-month CD could be a good investment for those who want the money freed up soon for planned purchases or to invest elsewhere.

When looking at three-month CDs, be sure to compare their rates with those offered from top high-yield savings accounts. You may be able to find a savings account that earns a higher yield, and this way you won’t need to lock in your funds for any amount of time.

With shorter maturity periods, generally investors can more readily adapt to changing market conditions, potentially reinvesting funds depending on how rates move. This flexibility allows short-term CDs to serve as a strategic component in your portfolio, providing liquidity as well as the flexibility to capitalize on potential future rate increases.
Bankrate logo Erika Kullberg, attorney, personal finance expert and founder of Erika.com

Alternatives to 3-month CDs

  • Savings accounts: You may be able to score a higher APY from a savings account than from a three-month CD, and an added benefit of a savings account is it doesn’t tie up your money for any period of time.
  • Money market accounts: Like savings accounts, money market accounts are liquid accounts, meaning you have access to your money at any time without an early withdrawal penalty. An added benefit of money market accounts is they sometimes come with a debit card and check-writing privileges, unlike CDs or standard savings accounts (although their minimum deposit requirements may be higher than those of other deposit accounts).
  • Bonds: Like CDs, bonds can offer a higher degree of security than stocks, with both often providing a fixed interest rate. As for liquidity, CDs usually carry an early withdrawal penalty, while bonds have maturity dates — although it’s possible to sell most bonds sooner on secondary markets.

3-month CD FAQs

Research methodology

Bankrate has been around since 1976. It’s a leading publisher of rates and personal finance articles. It’s also often cited by some of the most respected and well-known publications and websites. The Bankrate promise is that we strive to help our readers make smarter financial decisions, adhering to strict principles of editorial integrity and transparency.

Bankrate’s editorial team is made up of five banking experts. These experts have researched many banks and at least twice a month go to bank websites to make sure readers stay up to date on the latest rates and bank products.

We select banks that have high APYs and that are popular and broadly available, and we include some of the largest banks.