Institution Insured By Product APY Minimum Deposit Northern Bank Direct FDIC 3-Month CD 4.15% $500 Brilliant Bank FDIC 3-Month CD 4.00% $1,000 Dow Credit Union NCUA 3-Month Simple CD 4.00% $500 Farmers Insurance Federal Credit Union NCUA 3-Month Flex-Term Share Certificate Special (New Money) 4.00% $1,000 Ivy Bank FDIC 3-Month CD 4.00% $1,000 High-yield savings accounts pay higher interest than standard savings accounts, and the rates are often higher than short-term CD rates as well. Lower interest rate: The three-month CD typically has lower interest rates than a longer-term CD.