Best 3-year CD rates of September 2026: Up to 4.50% APY

A 3-year (36-month) CD can be a smart choice if you want to lock in a guaranteed return without tying up your money for the long term. While 3-year CDs don't always offer the highest yields, they provide predictable earnings and peace of mind for savers with medium-term financial goals.

We compared certificates of deposit from more than 40 banks, credit unions and online institutions to find the ones with the best rates. We also considered deposit requirements, early withdrawal fees, customer service and other factors. (CDs and rates are accurate as of Sept 2, 2026.)

For more on how we made our picks, read our methodology.

Term: 36 months
Minimum deposit: $10,000
Early withdrawal penalty: 12 months of simple interest

Term: 36 months
Minimum deposit: $25,000
Early withdrawal penalty: 6 months of simple interest

Term: 36 months
Minimum deposit: $0
Early withdrawal penalty: 9 months of simple interest

Term: 36 months
Minimum deposit: $2,500
Early withdrawal penalty: 6 months of simple interest

Term: 36 months
Minimum deposit: $500 ($500,000 maximum)
Early withdrawal penalty: 6 months of simple interest

Term: 36 months
Minimum deposit: $1,000
Early withdrawal penalty: 12 months of simple interest

Term: 36 months
Minimum deposit: $1,500 ($1 million maximum)
Early withdrawal penalty: 6 months of simple interest

Term: 36 months
Minimum deposit: $1,000
Early withdrawal penalty: 6 months of simple interest

Term: 36 months
Minimum deposit: $500
Early withdrawal penalty: All interest earned, with a 3-month minimum penalty

Term: 36 months
Minimum deposit: $500
Early withdrawal penalty: 3 months of simple interest

Term: 36 months
Minimum deposit: $500
Early withdrawal penalty: 6 months of simple interest

Term: 36 months
Minimum deposit: $1,000
Early withdrawal penalty: 12 months of simple interest

A certificate of deposit, or CD, is a savings account that pays a fixed interest rate for a set period, usually between three months and five years, although there are CDs with terms of 10 years or longer.

1. You can only deposit funds at the beginning of the term. There may be a minimum deposit requirement (usually $500 or more).
   
2. Withdrawing funds before the CD matures typically means paying an early withdrawal fee, calculated as the loss of a specific amount of accrued interest. If the penalty exceeds the interest you've earned, your bank will take the remaining balance from your principal.
   
3. When the CD matures, you can access your original deposit and the accrued interest or roll the money over into a new CD. If you do nothing, most banks will auto-renew your CD at the rate offered at maturity.
   
4. Unlike the variable APY of a savings account, you lock in your CD's rate the day you open the account. That can be beneficial if you open an account before rates drop. But if rates rise, you'll miss out on higher earnings.
   
5. Unlike some savings accounts, most CDs don't come with monthly fees. But since they're not designed for regular transactions, they don't come with an ATM card, either.
   
6. Since they're insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000, CDs are considered a safe financial product. If you open a CD with a credit union, it's insured by the National Credit Union Administration for the same amount.

To pick the right CD, start by looking for banks that offer three-year (36-month) terms. From there, consider these other factors:

• APYs and terms: Shop banks, credit unions and online institutions to find the best rate.
• Minimum deposit: Minimum deposits can range from $100 to $10,000, with $500 the most common amount. (Jumbo CDs can require as much as $100,000.) Some institutions, including Ally Bank, have CDs with no minimum deposit requirement.  
• Early withdrawal penalty: See what the fee is if you take your money out early. It might be worth a slightly lower APY if you have more flexibility.
• Compounding interest: See whether interest compounds daily or monthly
• Customer service: Does the bank have physical branches for in-person banking or robust digital banking features
• FDIC or NCUA insurance: Only open an account at a bank or credit union with deposits that are federally insured up to $250,000 per depositor, per ownership category.

There are several kinds of CDs, each designed for specific needs.

• Traditional CD: A standard CD with a fixed interest rate and a set term. You agree to leave your money untouched until maturity to avoid early withdrawal penalties.
• High-yield CD: A CD offering a higher-than-average return.
• No-penalty CD: Lets you withdraw your money before the term ends without facing an early withdrawal fee, usually after a short lock-in period.
• Bump-up (or step-up) CD: Allows you to request a higher rate once (or sometimes more) during the term if the bank's CD rates increase.
• Add-on CD: Lets you deposit more money into the CD after opening it — helpful if you want to build your balance over time without opening multiple CDs.
• Jumbo CD: In exchange for a higher rate, jumbo CDs require a larger minimum deposit, often $75,000 to $100,000.
• Brokered CD: Sold through brokerage firms instead of directly from a bank. They can offer competitive rates but may be riskier if sold on the secondary market.
• IRA CD: A CD held inside an individual retirement account, giving you the safety of a CD with the tax advantages of an IRA.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every CD review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of savings and banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

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To identify the best three-year CDs, CNBC Select compared certificates of deposit from more than 40 banks, credit unions and online financial institutions. We prioritized accounts offering the highest APYs, but also evaluated each using the following criteria:

• Minimum opening deposit: Accounts with low or no minimum deposit requirements were given more weight.
• CD types: We considered whether institutions offered no-penalty, bump-up and add-on CDs, in addition to traditional CDs.
• Early withdrawal penalty: We compared penalty policies and gave preference to CDs with less restrictive terms.
• Deposit insurance: We only considered CDs offered by banks insured by the Federal Deposit Insurance Corporation (FDIC) or credit unions insured by the National Credit Union Administration (NCUA). We also considered whether institutions offered expanded FDIC insurance through deposit sweep programs.
• Customer experience: We considered a bank's mobile banking offers and customer support hours, and reviewed the overall ease of managing an account.
• Branch availability: We considered whether an institution had physical branches for savers to conduct in-person banking.
• Additional banking services: We considered whether an institution also offered checking and savings accounts, personal loans, mortgages, investments and other financial products.

We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.

* Dow Credit Union rates listed include a 20% Member Saver Reward bonus