State Bank of India has one of the best rates available on 3 year CDs. They are currently offering a 3.55% APY on 36 month CDs, with a minimum deposit of $5,000. This Indian bank only has a few branches in the United States, but it has 13,000 branches in India.

There is a branch in New York and a branch in Chicago. The New York branch is the one offering the CD mentioned above. The Chicago branch is offering 3.0% APY on the same CD. Rates are current as of 4/26/2009.

It doesn’t appear that you need to visit the branch to open an account, but they do not offer an online application. You will need to print out the forms and mail them to the branch with a check.