3-Month CD Deals

If you prefer to stick with brick-and-mortar banks, you may want to look into short term CDs as an alternative to money market accounts. Often you can get a much better rate in 3 or 6-month CDs than a money market or savings account. The downside is that you lock up your money, but since the term is short it may be a worthwhile tradeoff.

The Royal Bank America is offering a 4.00% APY 3-month CD with a minimum deposit requirement of $5K. The bank has branches in Pennsylvania and New Jersey. This CD special is also good at Royal Asian Bank which has three branches in Philadelphia and Upper Darby, PA along with two branches in Fort Lee, NJ. For the commenter who noted this deal, thanks!

The best 3-month CD rate listed at Bankrate.com is 4.40% APY at UmbrellaBank.com. Everbank is the second top one with a rate of 4.36% APY. Some of the top 3-month certificate of deposit rates at brick-and-mortar banks include: 4.21% at M&T Bank, NA of Oakfield, New York and 4.10% at Security Savings Bank of Las Vegas, Nevada. In addition to the 3-month CD, Security Savings Bank also has a decent 3.55% APY money market account and a 4.60% APY 1-year CD. These accounts can also be opened by mail.