But there are several factors to consider in addition to APY: If you’re seeking a three-month CD, your primary concern may be the interest you’ll earn. To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Reviews Banks. 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.
To help you find the best CD rates, CD accounts with higher APYs rose to the top of the list.
The following is the weighting assigned to each category: We also analyzed and ranked each institution by individual terms. 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.
