According to Bankrate, BankDirect has the highest 3 Month CD rate at 1.01%. This puts the 3 Month certificates of deposit back above the 1% line.

BankDirect is the online division of Texas Capital Bank and has branches in all of the major cities in Texas. The 1.01% APY is available for deposits of at least $10,000.

Lately it hasn’t been a trend for banks to increase their interest rates, especially with Bank of America and Chase cutting their rates across the board.

The increased rate of 1.01% pulls Goldwater Bank, from Scottsdale, Arizona down to the number 2 spot with a rate of 0.85% APY and the same minimum deposit of $10,000.

Here are the next best 3-month certificates of deposit:

  • 0.83% APY from Nexity Bank of Birmingham, Alabama. This rate requires a minimum of $1,000.
  • 0.80% APY from Woodlands Commercial Bank of Salt Lake City, UT. This rate requires a minimum of $2,500.
  • 0.80% APY from VirtualBank of Palm Beach Gardens, Florida. This rate requires a minimum of $10,000.

These banks allow anyone to open an account online and have no other restrictions. A simple application process is the only required step.

Be sure to check out our list of the best CD rates available throughout the nation.

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