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A 3-year CD is a happy medium -- long enough to earn solid interest, but not so long you’ll feel like you’re waiting forever to touch your money again.
And timing matters right now. The Fed has already started lowering rates, and more cuts are expected later this year. As those changes ripple through the economy, CD yields are likely to fall too. Opening a 3-year CD today could help you hold onto one of the stronger fixed rates before they slip further.
If you’ve got a solid emergency fund in place, this kind of midterm CD can be a smart, low-maintenance way to keep your extra cash working while rates head lower.
On Quontic's Secure Website.
On Discover Bank's Secure Website.
On Synchrony Bank's Secure Website.
Unlike other banking products we evaluate, certificates of deposit (CDs) do not receive a star rating from us. This approach is due to the frequent updates in interest rates and terms associated with CDs. Instead, we highlight CDs on our best-of list pages based on their annual percentage yield (APY) and the fees associated with early withdrawals. Our top CD selections typically offer competitive APYs without complex qualification tiers, low early withdrawal penalties, reliable strong brand reliability, and user-friendly features.
Motley Fool Money focuses exclusively on standard CDs and does not review IRA CDs, bump-up CDs, callable CDs, or other specialized CD accounts.
Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.
Unlike other banking products we evaluate, certificates of deposit (CDs) do not receive a star rating from us. This approach is due to the frequent updates in interest rates and terms associated with CDs. Instead, we highlight CDs on our best-of list pages based on their annual percentage yield (APY) and the fees associated with early withdrawals. Our top CD selections typically offer competitive APYs without complex qualification tiers, low early withdrawal penalties, reliable strong brand reliability, and user-friendly features.
Motley Fool Money focuses exclusively on standard CDs and does not review IRA CDs, bump-up CDs, callable CDs, or other specialized CD accounts.
Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.
APY = Annual Percentage Yield
Quontic Bank offers CDs with terms ranging from six months to five years. It offers most of the terms one would expect, though it is missing a 4-year CD, so it may not be ideal for those hoping to build a CD ladder. Its rates are competitive, especially on its longer term CDs, and its minimum deposit is more affordable than what you see with some other top banks.
On Quontic's Secure Website.
6 Mo. APY | 1 Yr. APY | 2 Yr. APY | 3 Yr. APY | 5 Yr. APY |
---|---|---|---|---|
3.75% | 3.00% | 3.35% | 3.25% | 3.00% |
Why I like it:
Quontic CD keeps things simple with a clear rate and approachable $500 minimum. I like it for its no-frills, reliable return over a mid-length term.
APY = Annual Percentage Yield
Discover offers competitive CD rates, particularly when compared to traditional brick-and-mortar banks. It provides a range of unique term lengths, with CDs available for as short as three months and as long as 10 years. This flexibility makes Discover an excellent choice for individuals looking to secure a rate for either a short-term or an extended period.
On Discover Bank's Secure Website.
3 Mo. APY | 6 Mo. APY | 9 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 30 Mo. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY | 7 Yr. APY | 10 Yr. APY |
---|---|---|---|---|---|---|---|---|---|---|---|
2.00% | 3.50% | 3.50% | 4.00% | 3.80% | 3.60% | 3.60% | 3.60% | 3.60% | 3.60% | 3.50% | 3.50% |
Why I like it:
With a $0 minimum ($0), Discover® Bank CD is one of the most accessible 3-year CDs on the market. Plus, Discover’s reputation and easy account access make it ideal for first-timers.
Read more about Discover® Bank CDs.
APY = Annual Percentage Yield
Perhaps one of the lesser-known names on the list, Synchrony (Member FDIC) is a full-line bank with a 90-year history. Synchrony's CDs are notable for competitive rates at most term lengths, plus low or no minimum deposits.
On Synchrony Bank's Secure Website.
6 Mo. APY | 9 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY |
---|---|---|---|---|---|---|---|
4.10% | 4.00% | 4.00% | 3.80% | 3.50% | 3.75% | 3.50% | 4.00% |
Why I like it:
Synchrony Online CD is built for steady savers — no minimum to open, a fixed rate that holds firm for three years, and a fully online setup that makes it easy to let your balance grow in peace.
Picking a 3-year CD comes down to how much you want to lock in, how soon you’ll need access, and whether you’re optimizing for returns or flexibility. Here are a few quick tips:
If you have cash you won’t need for the next few years, now is a good time to lock in a 3-year CD. Rates are still relatively strong, and there’s a good chance we’ll see cuts from the Fed later in 2025. Locking in today helps you hedge against lower future yields and guarantees a steady return without risk.
But flexibility still counts. If there’s a chance you’ll need to dip into those funds early, a high-yield savings account gives you access to your money and still earns competitive interest. See the best high-yield savings rates today.
No, most CDs don’t let you add funds once the account is opened. If you plan to save more, consider a high-yield savings account or staggered CD ladder.
Your CD will “mature,” and the bank will usually notify you. You’ll have a short grace period to withdraw your money or roll it into a new CD. If you don’t act, it may auto-renew.
Yes, once you lock in your CD, your rate stays the same for the full term. That’s part of what makes CDs a low-risk savings tool.
Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal non-IRA accounts only. Fees may reduce earnings. For CD accounts, a penalty may be imposed for early withdrawals. After maturity, if your CD rolls over, you will earn the offered rate of interest in effect at that time. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.