3 year CD Rates
A 3 year CD is a middle of the road deposit product – not considered short nor long term. They tend to feature higher annual percentage yields than those of shorter durations but the trade off is that you must keep your money tied up for a 3 year period. Sometimes banks offer promotional deposits with oddball maturities around the 36 month period. A 30 year CD is one of the more popular promotional products that banks and credit unions will offer and the yields on these can sometimes meet or exceed the yields on 36 month deposits. However, they are not offered by every institution.
When should you invest in a 3 year CD? Similarly to two and four year CDs, you want to take advantage of one of these products in a period of interest rate stability (whether it be high or low) or during an interest rate decline. If the FED has made it clear rates will be flat for the next 2-3 years, then it may be an optimal time to utilize a 3 year CD. The strategy being that rates will begin to rise as your CD matures so that you have those funds to reinvest into another certificate of deposit.
The 3 year CD rates featured in our database above are pulled from hundreds of banking institutions across the country. They are all FDIC insured and have a health rating system based on 5 stars which can assist you in your research. You may also want to check with your local credit union(s), as they can sometimes provide slightly higher yields on 3 year CDs that the current national average.