According to Bankrate, a leading source for bank CDs, has a new leader for the 3 month CD rates.

VirtualBank which is an online division of Lydian Private Bank in Palm Beach Gardens, Fl has just replaced ISN Bank which was just closed by the FDIC on Friday. This is one of the first banks reported as having the top CD rate and then being closed by the FDIC. As with any banking institution it is important to make sure your deposits are insured by the FDIC (Federal Deposit Insurance Corporation).

Here are our current top CD rates available:

*TermBankSeptember 18thLast Week
3 Month CDVirtualBank0.90% APY1.35% APY
6 Month CDAurora Bank1.17% APY1.25% APY
12 Month CDMelrose Credit Union1.51% APY1.55% APY
24 Month CDDiscover Bank1.80% APY2.00% APY
36 Month CDDanversbank2.50% APY2.50% APY
60 Month CDMelrose Credit Union3.03% APY3.03% APY

These banks will accept any application from residents in all 50 states. Melrose Credit Union is included in the list because they allow anyone to join for a small fee of $1. There have been many changes to the short term CD rates, while the 3 year and 5 year stay the same.

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

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