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Best 3-Month CD Rates for November 2026: Quick Deals Up to 4.50%
By Markets & Investing DeskUpdated Nov 10, 2026
Bank CD Rates · 3-Month
| # | Bank | Term | APY | Minimum | $10,000 earns (1 yr) | Source |
|---|---|---|---|---|---|---|
| 1 | Popular Direct | 6-month CD | 4.35% | $10,000 | $435 | populardirect.com |
| 2 |  Charles Schwab | 3 months | 4.27% | $1,000 | $427 | schwab.com |
| 3 | Marcus by Goldman Sachs | 6 months | 3.95% | $500 | $395 | marcus.com |
| 4 | Bread Savings | 3 months | 3.95% | $1,500 | $395 | breadfinancial.com |
APYs from the banks' official rate pages · checked 2026-11-09
National CD Rates Today
| Product | National rate | Rate cap | Treasury yield |
|---|---|---|---|
| Savings | 0.38% | 4.63% | 3.88% |
| Interest Checking | 0.07% | 4.63% | 3.88% |
| Money Market | 0.63% | 4.63% | 3.88% |
| 1 month CD | 0.23% | 5.57% | 4.02% |
| 3 month CD | 1.14% | 5.79% | 4.20% |
| 6 month CD | 1.39% | 5.95% | 4.33% |
| 12 month CD | 1.76% | 6.20% | 4.54% |
| 24 month CD | 1.55% | 6.61% | 4.88% |
| 36 month CD | 1.39% | 6.75% | 5.00% |
| 48 month CD | 1.31% | 6.75% | 5.00% |
| 60 month CD | 1.41% | 6.86% | 5.09% |
FDIC national rates and rate caps · October 19, 2026
How Much Does $10,000 Earn in One Year?
| Deposit | Rate | APY | Earnings, 1 year |
|---|---|---|---|
| $10,000 | National average | 1.14% | $114 |
| $10,000 | Treasury yield | 4.20% | $420 |
| $10,000 | Rate cap | 5.79% | $579 |
A 3-month CD is the shortest commitment most banks offer on a certificate of deposit: you lock in a fixed APY for about 90 days in exchange for leaving the money in place. Compare offers on three things: the APY, the minimum deposit and the term the APY applies to. Two need care. Not every offer is a 3-month CD, and the $10,000 earnings figure is not what a 3-month CD pays.
How to Read the Rate Table
Term. Offers are ranked by APY, but terms are mixed: some are 3-month certificates and others are 6-month. A 6-month CD at a higher APY ties up your money twice as long, so weigh it against the 3-month offers only if you can wait the extra three months.
APY. Annual percentage yield includes compounding and is stated as a one-year figure, even for a CD that lasts a quarter of a year. Each rate carries its check date, and banks can change advertised rates before you fund the account, so you lock in the rate in effect when your deposit posts.
Minimum. The minimum is the opening deposit needed to get that APY. A higher-paying offer with a minimum you cannot meet is not an option, and the next row down may be.
$10,000 earns (1 yr). This applies each APY to $10,000 for a full year. For a 3- or 6-month CD, you would earn that only by renewing at the same rate at every maturity. That is not guaranteed, because a renewal gets whatever rate the bank offers on that date.
The Math: What a 3-Month CD Actually Returns
Because APY is an annual figure, convert it to the term you hold:
Interest = Principal × ((1 + APY)^(months ÷ 12) − 1)
Hypothetical example: $10,000 in a 3-month CD at 4.00% APY, interest left in the account, held to maturity.
- (1.04)^(0.25) = 1.00985
- Interest ≈ $10,000 × 0.00985 = about $98.50
A quick shortcut, APY ÷ 4 × principal, gives $100. It slightly overstates the result because APY already counts compounding. Either way, the gap between two 3-month offers is small: on $10,000, a 0.20 percentage point APY difference is worth roughly $5 over three months. So the minimum deposit, penalty terms and account convenience can matter as much as the headline rate.
CD interest is taxable as ordinary income at the federal level. In New Jersey and other states with an income tax, it is generally taxable at the state level too.
National Average, Rate Cap and Treasury Yield
National rate. This is the FDIC’s average of rates paid by insured institutions for each product and term. It includes large branch banks that pay little on CDs, which is why a competitive offer can sit far above it. The national average describes what a typical bank pays. It does not describe what you can get.
Rate cap. This is not a market rate or an available offer. Under FDIC rules, banks that are less than well capitalized generally may not pay more than this cap. For CDs, the cap is the higher of two figures:
- the national rate plus 0.75 percentage point, or
- 120% of the Treasury yield for a similar maturity, plus 0.75 percentage point.
For the 3-month term, 1.2 × the Treasury yield shown, plus 0.75, equals the cap shown. The $579 earnings figure on $10,000 is therefore a regulatory ceiling, not an advertised offer.
Treasury / fed funds yield. This is the benchmark the cap formula uses for each term. It is also the most useful comparison point for a 3-month CD, because a 13-week Treasury bill covers about the same period.
The FDIC rows also show the term structure of average deposit rates across 1-, 3-, 6- and 12-month terms. When longer terms pay noticeably more, stretching beyond three months earns a premium. When they don’t, the short term costs you little.
What Moves 3-Month CD Rates
Short CD rates follow the Federal Reserve’s federal funds target and short Treasury yields closely, because banks price short deposits against what they could earn or pay elsewhere over the same few months. When the Fed raises or cuts, 3-month CD offers usually adjust quickly, since the bank is only locked in for one quarter.
Beyond that, each institution prices by its own need for deposits. Online-only banks and branchless divisions often post the top offers, and some use a short CD as a promotion.
Early Withdrawal Penalties on Short Terms
Penalties are usually written as a number of days or months of interest. On a 3-month CD, a penalty of three months’ interest takes everything the CD would earn. A penalty longer than the term, such as six months’ interest, can cut into principal if you withdraw before enough interest has accrued. Other formulas include “all interest earned” or a fraction of the interest you would have earned at maturity.
Federal rules require a time deposit to carry a minimum penalty of at least seven days’ simple interest on amounts withdrawn within the first six days after deposit. Beyond that floor, the bank sets the terms, so read the account disclosure before funding.
When a 3-Month CD Makes Sense, and What to Compare It With
A 3-month CD fits money you will need in a few months, such as a tax payment, tuition or a planned purchase. It also fits money you want at a fixed rate while you wait to see where rates go, and it puts a barrier between you and impulse spending. The cost is deciding again every quarter.
High-yield savings and money market accounts. These keep the money accessible, and top accounts can pay as much as or more than a 3-month CD. Their rates are variable, though, and the bank can lower them at any time. Compare current offers in high-yield savings accounts.
Longer CDs. A 6-month or 12-month CD often pays more and holds that rate longer. Compare CD rates across terms before defaulting to three months.
Treasury bills. T-bills mature in terms from 4 to 52 weeks, including a 13-week bill comparable to a 3-month CD. They are backed by the U.S. government, and their interest is exempt from state and local income tax. That exemption can tilt the comparison for New Jersey residents when the yields are close.
Brokered CDs. These are bought through a brokerage account and issued by banks. Rather than paying a bank penalty, you can usually sell one before maturity on the secondary market, though the price may be below what you paid if rates have risen.
FAQs
What happens when a 3-month CD matures?
Many CDs renew automatically for the same term at the rate in effect on the renewal date unless you act. Banks typically allow a grace period after maturity, with a length set in the account terms. During it you can withdraw or move the money without a penalty.
