Best 3-Month CD Rates in July 2025

Summary: Best 3-month CD rates

Here’s a closer look at the best three-month CD rates on the market today:

Brilliant Bank - 4.35%

Bask Bank - 4.25%

Quontic Bank - 3.85%

Ponce Bank Direct - 4.00%

Securityplus Federal Credit Union - 1.00%

Oklahoma Community Credit Union - 3.00%

MutualOne Bank - 4.13%

American Bank - 4.25%

Interior Federal Credit Union - 3.93%

What is a 3-month CD?

A certificate of deposit is a type of savings account that offers a fixed amount of interest to keep your money for a set period of time. In particular, a three-month CD must be held with a financial institution for about 90 days.

Notably, a three-month CD is often the shortest option that banks and credit unions will offer. However, if you decide you need to move your money before the 90-day period is up, you will likely face an early withdrawal penalty. Typically, this penalty is charged as some number of days’ worth of interest earned.

How to choose a 3-month CD

Every three-month CD on the market will have a term of 90 days, but that’s where the similarities usually end. Here are a few factors to consider when choosing the best three-month CD for you:

• Annual percentage yield: Expressed as a percentage, the APY tells the amount of interest that will accrue if the CD is held with the bank or credit union to its full term. In general, the highest three-month CD rates will earn the most interest, so look for a high APY.
• Minimum opening deposit: This figure represents the minimum amount of money required to open the CD. Be sure to choose a CD with a minimum deposit amount you can comfortably afford. 
• Early withdrawal penalty: This figure represents the amount of interest that will be forfeited if you decide to take your money out of the CD before its maturity date. Every financial institution’s early withdrawal penalty is different. Protect your investment by choosing a CD with a minimal early withdrawal penalty, if any. 
• Maximum deposit amount: Some financial institutions will restrict the amount that you can invest in a single CD, while others will not. If you’re thinking of investing a sizable amount, look for a CD with no stated cap. But, remember, both Federal Deposit Insurance Corporation and National Credit Union Administration insurance are limited to $250,000 per depositor.

Pros and cons of 3-month CDs

Should I get a 3-month CD?

Whether a three-month CD is worth opening will depend on your financial situation.

When a 3-month CD could make sense

As a rule of thumb, opening a three-month CD makes sense if you hope to strike a balance between earning guaranteed returns and having some flexibility with your money.

Whether part of a CD ladder strategy or on its own, a three-month CD won’t tie up your money for too long. That means you’ll likely be able to keep it in place to earn the full amount of interest.

When a 3-month CD may not be worth it

You may want to pass on a three-month CD if you can find a similar rate on another investment vehicle, such as a high-yield savings account (HYSA). Savings accounts don’t come with early withdrawal penalties, which may allow you to achieve similar returns without the worry of not having access to your money when you need it.

Make sure to shop around to see what rates are available.

How to get a 3-month CD

If you decide a three-month CD is the way to go, here’s an overview of how to open a new account:

1. Choose the right CD for you: Each financial institution will offer a CD with slightly different terms. Be sure to research your options and choose the CD that works best for you.
2. Apply for the CD: Some financial institutions will let you do this online, while others will ask you to call or visit a branch in person. Whatever the case, the application will likely require personal information, such as your name and address. Some will need you to provide employment information.
3. Provide supporting documentation: Most financial institutions will expect you to provide a government-issued ID to verify your identity.
4. Review the appropriate disclosures: Your financial institution will provide you a disclosure agreement, which will outline the terms and conditions of the CD account. Read it carefully to understand your obligations. If you accept the terms, the financial institution will likely open the account.
5. Fund your CD: Once the account is open, the next step is to fund your three-month CD with at least the minimum deposit amount. You’ll likely be given a set number of days to deposit the money into your account.

Alternatives to 3-month CDs

If a three-month CD is not right for you, here are some alternatives:

• No-penalty CDs: As the name suggests, a no-penalty CD does not come with an early withdrawal penalty. However, in exchange for the flexibility, these CDs typically earn lower rates than traditional CDs.
• High-yield savings accounts: HYSAs allow you to access your money when you need it, with no penalty. Plus, they can produce yields similar to three-month CDs. But they may have higher minimum opening deposits than CDs, and they may come with minimum balance requirements or monthly maintenance fees.
• Money market accounts (MMAs): MMAs often advertise similar APYs to HYSAs. Some also may come with the added benefit of a debit card or checks. Still, these accounts tend to have higher minimum balance requirements than CDs, and some may even feature strict transaction limits.

Methodology

To compile our list of best three-month CD rates, we analyzed 35 CD accounts at banks and credit unions nationwide.

Accounts that made the list needed to come from a federally insured bank or credit union and provide these features:

• A competitive APY
• A relatively low minimum opening deposit
• A responsible early withdrawal penalty