If rates are dropping, this could make the CD a better choice, because your savings account interest could decrease over the next few months. A CD locks in your rate for the entire term. The choice between a 3-year CD and high-yield savings account will depend on several factors. The best 3-year CDs pay high interest rates - but you should also keep an eye out for minimum opening deposits, early withdrawal penalties, and a strong mobile app. DollarSavingsDirect 3 Year CD: 5.00% APY.BMO Alto 3 Year High Yield CD: 5.00% APY.United States Senate Federal Credit Union 3 Year Smart Share Certificate: 5.23% APY.Valley Direct 3 Year Variable CD: 5.60% APY.We check rates daily to find the best rates for 3-year terms. If you're also interested in other CD term lengths, check out our overall best CD rates guide. This CD is a variable-rate CD, which means the rate may go up or down during the term depending on economic conditions. However, the best 3-year CD rate is 5.60% APY from Valley Direct.
The average APY (Annual Percentage Yield) on a 3-year CD is 1.39% APY.
