BankDirect is the online division of Texas Capital Bank and has branches in all of the major cities in Texas. The 1.01% APY is available for deposits of at least $10,000.

Lately it hasn’t been a trend for banks to increase their interest rates, especially with Bank of America and Chase cutting their rates across the board.

The increased rate of 1.01% pulls Goldwater Bank, from Scottsdale, Arizona down to the number 2 spot with a rate of 0.85% APY and the same minimum deposit of $10,000.

Here are the next best 3-month certificates of deposit:

• 0.83% APY from Nexity Bank of Birmingham, Alabama. This rate requires a minimum of $1,000.
• 0.80% APY from Woodlands Commercial Bank of Salt Lake City, UT. This rate requires a minimum of $2,500.
• 0.80% APY from VirtualBank of Palm Beach Gardens, Florida. This rate requires a minimum of $10,000.

These banks allow anyone to open an account online and have no other restrictions. A simple application process is the only required step.

Be sure to check out our list of the best CD rates available throughout the nation.

VirtualBank which is an online division of Lydian Private Bank in Palm Beach Gardens, Fl has just replaced ISN Bank which was just closed by the FDIC on Friday. This is one of the first banks reported as having the top CD rate and then being closed by the FDIC. As with any banking institution it is important to make sure your deposits are insured by the FDIC (Federal Deposit Insurance Corporation).

Here are our current top CD rates available:

These banks will accept any application from residents in all 50 states. Melrose Credit Union is included in the list because they allow anyone to join for a small fee of $1. There have been many changes to the short term CD rates, while the 3 year and 5 year stay the same.

Be sure the check out our list of the best CD rates throughout the nation.

Anyways, iGoBanking has an interest rate of 1.35% on their 3 month CD! This not only is the highest 3 Month CD we have found, but also beats the highest 6 month CD and even beats the national ‘average’ rates on the 1-year, 2-year and 3-year certificates of deposit.

iGoBanking is based out of Flushing Savings Bank in New York and is the bank’s online division.

Bankaholic has been following this rate says, “iGoBanking has stuck with this deal since late July”. With their low minimum deposit of $1,000 it’s a CD rate that many will be able to take advantage of. If you do plan on investing into a certificate of deposit, shorter termed CDs are better than longer term.

With a $1,000 deposit into iGoBanking’s 3 month CD @ 1.35%, you will earn $3.38 or on a $10,000 deposit your earnings would be about $33.79. That isn’t much in the way of earnings, but its still the best rate you will find. If you are looking to store your cash for a few months, this might be the best place to make a little interest while your money sits around.

To compare how high iGoBanking’s 3 Month CD rate really is, we have listed the next 3 banks with a minimum deposit of $10,000:

• 0.95% APY offered at VirtualBank, a division of Lydian Private Bank in Palm Beach Gardens, Fl.
• 0.90% APY offered at Goldwater Bank, out of Scottsdale, AZ.
• 0.80% APY offered at Woodlands Commercial Bank, located in Salt Lake City, UT.

(These CD rates were checked by Bankrate)

All of these banks allow anyone to buy their CDs regardless of where they live.

If you are looking for longer term CDs, be sure to check out our list of CD rates from top banking institutions.