TotalBank has led our rankings of the best three-month CD rates for four months now, even though its returns have been steadily declining.

The bank, which has 16 branches in the Miami area, was paying 2.55% APY when it claimed the top spot in June and 1.85% APY as recently as last month.

As of Oct. 23, it's offering 1.65% APY with a minimum deposit of $1,000, but that's still good enough to lead our latest rankings.

During that time, the national average for a three-month certificate of deposit has fallen from 0.64% to 0.41%. That's the lowest average since our survey began tracking three-month CD rates in March 1989.

The other top nationally available CD rates are:

1.50% APY with a $25,000 minimum deposit from MetLife Bank, an online bank owned by the insurance giant featuring Snoopy in its ads.

1.50% APY from H&R Block Bank, the online bank owned by the income tax people, with a $5,000 minimum deposit. This offer expires on Nov. 9.

Click here to compare these rates with the best CD rates from dozens of other banks in our extensive database.

By Carolyn Siegel

Interest.com Associate Editor