Danversbank from Boston was holding the top spot at 2.50% APY, but recently dropped their rate to 2.00% APY causing them to lose the highest CD rate on the market.

Melrose Credit Union is out of New York and is open to all residents throughout the United State. They have a $1 joining fee which makes all of their certificates of deposit worth looking at. Since they hold the top spot for the 12 month, 36 month and 60 month CD rates, its worth a look at. Melrose is also close to leading in the 24 month CDs category also.

To put these interest rates into perspective here is a list of the next top 3-year certificates of deposit:

• 2.19% APY from Heritage Bank located in Phoenix and Tempe, Arizona. A minimum deposit of $5,000 is required.
• 2.15% APY from Sallie Mae Bank, has no minimum deposit and is owned by the big student loan lender.
• 2.08% APY from Bank of Internet, requires a minimum deposit of $1,000.
• 2.05% APY from USAA out of Texas, requires a minimum deposit of $1,000.

All of these financial institutions take applications online and have no restrictions on who can apply.

Be sure to check out our best nationally available CD rates. CD rates can change at any moment, so be sure to verify the current rates being offered.