We report the construction of a three-dimensional template bank for the search for gravitational waves from inspiralling compact binaries with non-precessing spins. The parameter space consists of two dimensions describing the mass parameters and one dimension describing a reduced-spin parameter. The template placement is based on an efficient stochastic algorithm and makes use of the semi-analytical computation of a metric in the parameter space. We show that the template bank is "effectual" for the detection of generic spinning binaries in the comparable-mass (m_2/m_1 <~ 10) regime.