Our team spends countless hours scouring banks for the best rates so you don’t have to. One way to cut down on your research is by using a list like this one from Forbes Advisor. To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Reviews Banks.įinding the best three-year CD rates requires some shopping around, as rates can vary widely by bank.

To appear on this list, the account must be nationally available. Accounts with daily compounding interest schedules were scored higher than those with monthly or quarterly schedules. Minimum deposit requirements of $10,000 or higher affected scores negatively. The following is the weighting assigned to each category:ĬD accounts with higher APYs rose to the top of the list. We also analyzed and ranked each institution by individual term.

For the star rating, we ranked each institution on 11 data points within the categories of APY, minimums, compound interest schedule, customer experience, digital experience, available terms and overall availability. To create this list, Forbes Advisor analyzed 142 CD accounts across 84 financial institutions, including a mix of traditional brick-and-mortar banks, online banks and credit unions. Read our full PenFed Credit Union Review. You can renew your certificate, transfer the funds into another PenFed account or have a check mailed to you. This gives you more flexibility to determine how to handle your account when it matures. You choose your maturity option with PenFed when you open your certificate account and can change it at any time before maturity. You can join PenFed Credit Union by opening a savings account with an initial deposit of $5. PenFed gets excellent customer satisfaction scores and its highly rated app is available for iOS and Android. Terms range from six months to five years. Dividends on this certificate compound daily.Īt PenFed Credit Union, you’ll find competitive yields on nine certificates. Don’t be confused by the “money market” in this certificate’s name this is a share certificate-the name for a CD that’s issued by a credit union-not a money market account. With a fairly modest minimum deposit of $1,000, you can open a PenFed Credit Union Money Market Certificate and earn a very competitive 4.30% APY.

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