90 day and 3 month Certificate of Deposit Rates
While a short term investment may range from 1 year/12 months or less, a short term bank deposit such as a 3 month certificate of deposit or sometimes called 90 day cd providing a low risk fixed return investment with a 3 month maturity to park capital or cash in times of uncertainty or in between other asset class investments.
Banks base 3 month rates on current central bank policies however this will tend to vary between banks and their policies associated with deposits. Since a 90 day cd is a shorter time horizon, then both a 6 month and 12 month cd because of the associated risk for time frame is lower, the APR can sometimes be lower.