17 best 3-year CD rates for February 2024 (up to 5.25% APY)

Today's rate environment may not be kind to borrowers, who face high interest rates on borrowing products like mortgage loans, personal loans and credit cards, but it is exceptionally friendly to savers. After all, the Federal Reserve opted to hike rates 11 times over the last two years in an attempt to temper inflation. And while the Federal Reserve's rate hikes were paused last month for the fourth consecutive time, the annual percentage yields (APYs) offered on interest-bearing accounts, like high-yield savings accounts and certificates of deposit (CDs), have remained high.

But if you're going to put your savings in an interest-bearing account, it's important to choose the right one for your needs. Not only do many of these accounts come with minimum deposit or balance requirements, but the rates can differ significantly from one financial institution to the next. And, the types of interest rates can vary, too. For example, high-yield savings accounts generally offer variable rates while CDs come with fixed rates, meaning you'll lock in your rate for the full CD term. 

A fixed rate can be a great option in an uncertain economic environment like the one we're experiencing today. And, if you opt for a longer-term CD, like a 3-year CD, you'll ensure that your money is earning at today's high rates for the next few years. That insulates you from any potential rate shifts that could happen in the future. If you want to open a 3-year CD with a top interest rate this month, though, you may want to consider the below options.

Find the top CD rates you could get online today.

17 best 3-year CD rates for February 2024 (up to 5.25% APY)

The 3-year CDs outlined below offer some of the best rates available today:

• Library of Congress Federal Credit Union — 5.25% APY: The minimum opening deposit requirement for this CD is $500; the early withdrawal fee is equal to 180 days of interest
• Lafayette Federal Credit Union — 5.25% APY: The minimum opening deposit requirement for this CD is $500; the early withdrawal fee is equal to 360 days of interest
• DollarSavingsDirect — 5.00% APY: The minimum opening deposit requirement for this CD is $1,000; the early withdrawal fee is equal to 180 days of interest
• MySavingsDirect — 5.00% APY: The minimum opening deposit requirement for this CD is $1,000; the early withdrawal fee is equal to 180 days of interest
• Superior Choice Credit Union — 5.00% APY: The minimum opening deposit requirement for this CD is $500; the early withdrawal fee is equal to 180 days of interest
• Hughes Federal Credit Union — 4.86% APY: The minimum opening deposit requirement for this CD is $1,000; the early withdrawal fee is equal to 180 days of interest
• Dow Credit Union — 4.81% APY: The minimum opening deposit requirement for this CD is $500; the early withdrawal fee is equal to 365 days of interest
• First Internet Bank — 4.75% APY: The minimum opening deposit requirement for this CD is $1,000; the early withdrawal fee is equal to 360 days of interest
• The State Exchange Bank — 4.70% APY: The minimum opening deposit requirement for this CD is $1; the early withdrawal fee is equal to 270 days of interest
• Seattle Bank — 4.65% APY: The minimum opening deposit requirement for this CD is $1,000; the early withdrawal fee is equal to 180 days of interest
• INOVA Federal Credit Union — 4.60% APY: The minimum opening deposit requirement for this CD is $200; the early withdrawal fee is equal to 180 days of interest
• Prime Alliance Bank — 4.60% APY: The minimum opening deposit requirement for this CD is $500; the early withdrawal fee is equal to 90 days of interest
• BMO Alto — 4.60% APY: The minimum opening deposit requirement for this CD is $0; the early withdrawal fee is equal to 180 days of interest
• NexBank — 4.55% APY: The minimum opening deposit requirement for this CD is $10,000; an early withdrawal fee may be charged on this account
• Utah First Federal Credit Union — 4.55% APY: The minimum opening deposit requirement for this CD is $2,000; an early withdrawal fee may be charged on this account
• Popular Direct — 4.55% APY: The minimum opening deposit requirement for this CD is $10,000; the early withdrawal fee is equal to 365 days of interest
• Newtek Bank — 4.50% APY: The minimum opening deposit requirement for this CD is $2,500; an early withdrawal fee may be charged on this account

Explore your CD account options and start earning today.

The bottom line

Putting your money in one of today's top 3-year CDs could be a solid financial move, especially if your goal is to guarantee your interest earnings for the next couple of years. By doing so, you won't have to worry about rate fluctuations during your CD's term and you'll capitalize on the opportunity to earn a much higher rate of interest than you would have back in 2020 and 2021. Just make sure that any CD you consider fits with your goals and overall financial strategy to ensure that your money is working hard for you.