Best 3-Month CD Rates

3-month CDs are a great option for those looking to stash their cash for the short term and still get a good return.

Set of piggy bank and gold coins
(Image credit: Getty)

With rates on savings accounts so high, you're probably looking for the right place to put your hard-earned cash. Putting your savings into a CD account is one option, and many accounts are offering rates of over 5%. Since shorter-term certificates offer greater flexibility than longer-term CDs, opening a 3-month CD can be a good option for individuals who don't want their cash tied up for a long period of time. 

Additionally, it’s important to compare rates across accounts to be sure you’re getting the best return on your savings. High-yield savings accounts also offer impressive APYs, and you won't have to wait a few months to access cash saved in these types of accounts. However, unlike CDs, high-yield savings accounts have variable rates, so your APY could drop depending on the market. Furthermore, it’ll be easier to make impulse purchases with cash in a high yield savings account than cash that’s tied up in a CD. So, if you're putting money aside for a future purchase, opting for a short-term CD can help ensure you won't spend any of your savings until that time comes.

3-month CDs can also be opened as part of a CD ladder, where you stagger, or ladder, maturities so that some are always coming due in the near future. For example, you may open 3-month, 6-month, 9-month, and 1-year CDs, renewing each when they mature. This strategy provides a consistent cash flow over time. 

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Here are some of the highest earning 3-month CDs on the market today. Also, compare current rates on both CDs and high-yield savings accounts by using the tools below.

Best 3-month CD rates

Below are several of the highest earning 3-month CD accounts on the market, all offering an APY of over 5%. 

Total Direct Bank

  • APY: 5.66% 
  • Minimum deposit: $25,000

Bayer Heritage Federal Credit Union

  • APY: 5.65% 
  • Minimum deposit: $100

Dow Credit Union

  • APY: 5.65% 
  • Minimum deposit: $500

Signature Federal Credit Union

  • APY: 5.55% 
  • Minimum deposit: $500

Ponce Bank

  • APY: 5.40% 
  • Minimum deposit: $1.00


  • APY: 5.35% 
  • Minimum deposit: $1,000

Interior Federal Credit Union

  • APY: 5.22% 
  • Minimum deposit: $500

Western Alliance Bank

  • APY: 5.21%
  • Minimum deposit: $1.00

All In Credit Union

  • APY: 5.12%
  • Minimum deposit: $1,000

Brilliant Bank

  • APY: 5.10%
  • Minimum deposit: $1,000

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Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.