Today's best 6-month rate on a nationwide certificate of deposit (CD) is 5.25% APY, available from multiple banks and credit unions. That's nearly three times what you can earn with a CD paying the FDIC's national average rate of 1.82% for 6 months, and is one of more than 15 or more leading offers in our ranking below. All CDs and rates in our rankings were collected, verified, and available to open as of Sept. 13, 2024. If you deposit $20,000 at a rate of 5.50%, for example, you'd earn about $543 after 6 months. Compare that to just $149 if you put your money in a 1.50% CD instead. To help you always find the highest 6-month CD returns, we review rates from hundreds of nationally available banks and credit unions—a research process we've done every weekday since 2019. Our published daily ranking then lays out the best-paying options we've found, for terms of 5–9 months. In addition to yields, we also detail the minimum deposits and early withdrawal penalties for every ranked CD. Below are top CDs available from our partners, followed by the best CD rates we've found inour researchthat are available to U.S. customers everywhere. Open a New Account × The offers that appear in this table are from partnerships from which we receive compensation. For more details, see our full advertiser disclosure. Institution Apy Min. To Earn Apy Highlights Open a New Account × The offers that appear in this table are from partnerships from which Dotdash receives compensation. The Fedheld rates steady for an eighth consecutive timeat its July 31meeting. The federal funds rate is at its highest level since 2001, but experts are projecting a rate cut in September. CD yields closely follow thefed funds rate. Back in October, CD rates reached peaks not seen in more than 20 years, but once the Fed starts cutting rates, CD rates will fall. You can find our ranking of the highest CD rates with terms of 5–9 months below. In cases where more than one institution pays the same annual percentage yield, we've prioritized CDs by the shortestterm, then the CD requiring a smallerminimum deposit, and if still a tie, alphabetically by institution name. If you're interested in CDs shorter or longer than 6 months, you may also like reviewing our overall ranking of the best nationwide CD rates. Investopedia collects and analyzes CD rates from over 200 banks to identify the best deals available. We use this data to rank each CD and bank to provide unbiased, comprehensive information to ensure our readers make the right decision for their needs. Investopedia launched in 1999 and has been helping readers find the best 6-month CDs since2020, when the top-paying CD was only 3.10%, from Keesler Federal Credit Union. Detailed information on these top-paying, nationally available 6-month CDs is provided below, including specifics about minimum deposits and early withdrawal penalties. Information is also provided on how to easily join the credit union for credit union CDs. *Deposit must be new money, and APYs may vary in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Puerto Rico, Tennessee, Texas, the Virgin Islands, and Washington, D.C. *Account must be funded with new money to the credit union. *Account must be funded with new money to the credit union. Some of the biggest banks and credit unions—like those that are household names or that you see advertised in the media—don't offer the highest CD rates. When choosing a CD, we always recommend looking for one with a high interest rate, a minimum deposit that you can afford, and a term that works for your timeline. If you can't find a top nationwide CD that meets your needs, you can look at a big-name banks and credit unions. Just be sure you have done your rate homework, so you know what's a reasonably competitive rate—and who is paying peanuts. Here are a few large banks and credit unions you may want to explore: Certificates of deposit (CDs) are financial products that provide a fixed interest rate on your deposit as long as you leave your money with the issuing bank or credit union for a specified period of time. Maturity periods range from as short as one month to as long as 10 years. However, terms between 6 month and 5 years are the most common. Virtually all CDs are offered by federally insured banks or credit unions, with bank deposits protected by FDIC insurance and credit union deposits guaranteed by the National Credit Union Association (NCUA). This means that deposits up to $250,000 are secure, even if the institution itself falls into financial trouble. As a result, always check that any institution you're considering starting a relationship with is an FDIC or NCUA member. Depository institutions set their own interest rates for CDs, and those rates can differ dramatically from one bank or credit union to another. According to the data Investopedia compiles from about 200 CD-issuing institutions across the country, the top certificates pay three to five times more than the industry average for products of the same duration—and sometimes even eight to 10 times more. So it's always smart to shop around for a certificate that pays on the higher end of the rate spectrum. When asked in August what they would invest in if they had an extra $10,000,9% of Investopedia readerssaid they would open a CD, behind individual stocks, ETFs, and stock index funds. That number is unchanged from June. While CDs sit below individual stocks as the top response (at 22%), CDs are always a good option for those looking for safer investments. Here's how much interest you'd earn if you deposited $10,000 in a 6-month CD, at a few different APYs. CD rates change often, and locking in a high interest rate today can pay off if rates drop. To make it easy for you to find the best CD rates, Investopedia tracks over 200 banks and credit unions that offer CDs. Like other CDs, the rates for 6-month CDs depend on the federal funds rate; as the federal funds rate goes up, CDs tend to, as well. If the fed rate goes up, it might be a good time to look for a new CD. The list above features many internet-only banks and credit unions. Internet-only financial service companies tend to have lower operating costs than brick-and-mortar institutions, so they may offer better rates and lower fees. Before deciding on one of the CDs above, you may want to explore local or regional banks and credit unions in your area. Our list of the top CDs only includes CDs that are available nationwide. Although the rates above are very good, you may find a better APY at a regional bank or credit union. Aside from rates, here are some important CD features to look for: Six-month CDs are one of many savings vehicles you can choose from. Below are some other options which may suit you even better. If six months feels too long for you to give up access to your money, you could choose a shorter-term CD. Three months is a commonly offered term, and some institutions even offer 1- and 2-month CDs. Beware, however, that these ultra-short certificates often pay rates that are worse than a high-yield savings or money market account, making them a poor choice. If instead you could stretch to a longer CD term, you may be able to snag a higher APY. But even if the APY is lower, it could be advantageous because it will be locked in for longer—which is useful if rates go down in the future. The market is full of competitive 1-year CD options, for instance, as it is one of the most popular certificate terms, but multi-year CDs will extend your rate guarantee far into the future. See the best rates for a variety of CD terms to explore your options: When your CD term comes to maturity, the deposit plus interest is released to you. Depending on the bank and the account, you have a few different options. You can keep the money, roll it into a new CD at the same bank, or deposit it into a new account at a different bank. If you don't make a decision, the money may be rolled into a new CD or sent to you. The bank or credit union will usually provide notice of the CD's maturity a month or two ahead of time. Unlike a CD, a liquid account allows you to freely deposit and withdraw funds as you like. Common types of liquid accounts include: Depending on the rate environment, either liquid accounts or CDs may offer the best rates. Even if the savings rate you can earn is lower than the best 6-month CD, though, it comes with the no-strings-attached advantage of leaving your funds completely available. CD rates are determined by a number of factors, including: CDs are virtually risk-free savings vehicles, and their safety has two distinct facets. First, a CD offered by an FDIC bank or an NCUA credit union is federally insured. That means even if the institution fails, your deposits up to $250,000 at that institution are protected. Second, a CD's interest rate is locked. Since the bank or credit union cannot change your interest rate, you know exactly how much money you'll earn on your deposit with no surprises. And because this is a bank deposit that earns interest, you cannot lose value like a stock can in a market downturn. CDs tend to offer higher yields than traditional savings and money market accounts, especially in a low-interest rate environment. A 6-month CD may be a good option if you know that you won't need access to your funds for at least six to nine months. That includes people saving for a down payment on a home or setting aside funds for a big trip. Like savings accounts, almost all CDs are FDIC- or NCUA-insured. So you can't lose your principal at one of these institutions as long as your deposit doesn't exceed $250,000. In contrast, investing in stocks and even corporate bonds can be risky in that short of a time window. Should they lose value over a six-month stretch, you'll have to incur a loss. Choosing a CD over a savings or money market account is also a good idea if you're worried you'll be tempted to spend some of your savings, rather than keep it in the bank, since CDs require you to keep your funds in the CD until maturity. Most financial institutions will deduct some of the interest that's accrued in your account if you withdraw funds from a CD before the maturity date. Losing three, or even six, months' worth of interest is fairly typical in the case of a 6-month CD, so there's a strong incentive to leave your money untouched until the certificate reaches maturity. Some places offer "no-penalty" CDs, but there's a rub: They tend to offer lower yields than standard CDs. What's more, they often require that you pull out the entire balance and close the account if you make an early withdrawal. All banks and credit unions charge an early withdrawal penalty if you opt to withdraw CD funds before maturity. But the penalties vary widely, so it's important to investigate whether an institution's penalty policy is mild, reasonable, or onerous before you commit. Since you can't lose money on a CD due to bank failure (unless you have more than $250,000 on deposit at a single institution), CDs are exceptionally safe. There is, however, one scenario in which you could lose some of the principal of your initial deposit, but it's fortunately preventable by doing your homework. Most bank and credit union policies on early withdrawal penalties will only reduce the interest earnings on your CD. But a small number of institutions have such harsh penalty calculations that the penalty can actually deduct from your principal. These CDs are to be avoided, as you never know if an emergency will require you to cash out your CD early. A CD ladder is an investing strategy that allows you to leverage high CD rates while maintaining ready access to your money, without paying early withdrawal fees. You divide the total amount of money you want to invest, and invest those amounts in individual CDs with different maturity dates. When a CD matures, you reinvest that money into a new CD. A 6-month CD can be used with a CD ladder in any way, depending on your needs; it could be the shortest-term account, the longest-term account, or somewhere in the middle. The country's largest banks are often the worst payers when it comes to savings and CD interest rates. In fact, some of the biggest players pay essentially zero interest. The key is to shop around, and to be open to holding some of your savings at a different institution than where you do your primary banking. Electronic transfers between banks are very easy with online banking, so you can easily keep your checking account and a small reserve account at your primary bank, but then sock away much of your savings in a CD at another institution. Our rankings of the best CD rates will always list the best nationwide rates available that day, regardless of which institutions are advertisers or sponsors on our site. We researched and reviewed over 250 banks, credit unions, and financial institutions to find the best CD rates you see above on this list. While we write individual reviews for most, we do not always write reviews for those we would not recommend. Below are the banks, credit unions, and financial institutions we researched along with links to individual company reviews to help you learn more before making a decision: 1st Source Bank, 5star Bank, ableBanking, Abound Credit Union, Achieva Credit Union, Affinity Federal Credit Union, Affinity Plus Federal Credit Union, Air Force Federal Credit Union, Alabama Credit Union, Allegacy Federal Credit Union, Alliant Credit Union, Ally Bank, Amerant Bank, American 1 Credit Union, American Express, American Heritage Credit Union, Andrews Federal Credit Union, Apple Federal Credit Union, Banco do Brasil Americas, Banesco USA, Bank of Baroda, Bank5 Connect, Bank7, Texas Capital Bank, bankESB (Easthampton Savings Bank), BankUnitedDirect, Barclays, BBVA Bank, Bellco Credit Union, Blue Federal Credit Union, BMO, BMO Alto, BrioDirect, Cadets Federal Credit Union, California Coast Credit Union, Capital One, Capitol Federal Savings Bank, CD Bank, CFG Bank, Chase Bank, Chevron Federal Credit Union, CIBC (Agility Banking), CIT Bank, Citibank, Citizens Access, Citizens Trust Bank, Colorado Federal Savings Bank, Bread Savings, Communitywide Federal Credit Union, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Corporate America Family Credit Union (CAFCU), Credit Union of Denver, Credit Union of the Rockies, Digital, Federal Credit Union, Discover Bank, DollarSavingsDirect, Dover Federal Credit Union, Dow Credit Union, Evergreen Bank Group, RocklandTrust Bank, Elements Financial, EmigrantDirect.com, Liberty Federal Credit Union, Fidelity Investments, Financial Partners Credit Union, Financial Resources Federal Credit Union, First Financial Credit Union, First Financial Northwest Bank, First Internet Bank, First National Bank of America, First Technology Federal Credit Union, Fort Bragg Federal Credit Union, Garden Savings Federal Credit Union, Georgia Banking Company, Georgia's Own Credit Union, GreenState Credit Union, Greenwood Credit Union, Grow Financial Federal Credit Union, GTE Financial, Gulf Coast Bank & Trust Company, Hanscom Federal Credit Union, Heritage Bank, Hiway Federal Credit Union, Home Loan Investment Bank, Home Savings Bank, Hope Credit Union, HSBC Direct, Hughes Federal Credit Union, Hyperion Bank, Ideal Credit Union, iGObanking, Interior Federal Credit Union, Justice Federal Credit Union, Kinecta Federal Credit Union, KS State Bank, La Capitol Federal Credit Union, Lafayette Federal Credit Union, Lake Michigan Credit Union, Langley Federal Credit Union, Latino Community Credit Union, Limelight Bank, Live Oak Bank, Luther Burbank Savings, MYSB Direct, MAC Federal Credit Union, Main Street Bank, MainStreet Bank, MapleMark Bank, Marcus by Goldman Sachs, Market USA Federal Credit Union, Matadors Community Credit Union, MECU Credit Union, Merrick Bank, Michigan State University Federal Credit Union, Mills42 Federal Credit Union, Mountain America Credit Union, MTC Federal Credit Union, MutualOne Bank, My Banking Direct, My eBanc, My Savings Direct, NASA Federal Credit Union, Nationwide by Axos Bank, Navy Federal Credit Union, nbkc, NexBank, North Country Savings Bank, Northern Bank Direct, Northfield Bank, Northpointe Bank, Nuvision Federal Credit Union, Oklahoma Central Credit Union, One American Bank, OneUnited Bank, Pacific National Bank, Paramount Bank, PARDA Federal Credit Union, Partner Colorado Credit Union, Patelco Credit Union, Pen Air Federal Credit Union, PenFed Credit Union, People's Credit Union, First Service Credit Union, Pinnacle Federal Credit Union, Popular Direct, Premier America Credit Union, Presidential Bank, FSB, Prime Alliance Bank, PSECU (Pennsylvania State Employees Credit Union), Quontic Bank, Quorum Federal Credit Union, Rising Bank, Merrimack Valley Credit Union, Salal Credit Union, Sallie Mae Bank, Santa Clara County Federal Credit Union, Signature Federal Credit Union, Spectrum Credit Union, SRP Federal Credit Union, State Bank of India Chicago, State Bank of India New York, State Bank of Texas, State Department Federal Credit Union, Summit Credit Union, Sun East Federal Credit Union, Superior Choice Credit Union, Synchrony Bank, TAB Bank, Teachers Federal Credit Union, Technology Credit Union, The Federal Savings Bank, Third Federal Savings & Loan, EverBank, TotalBank, Transportation Federal Credit Union, TruStone Financial Credit Union, UNIFY Financial Credit Union, Expedition Credit Union, United States Senate Federal Credit Union, United Texas Bank, University Federal Credit Union, US Bank, USAlliance Financial, USPS Federal Credit Union, Velocity Credit Union, VeraBank, Vio Bank, Virtual Bank, WebBank, Webster Bank, Wells Fargo, Western Vista Credit Union, Wings Financial Credit Union, XCEL Federal Credit Union, BankPurely, Umbrella Bank, giantbank.com, CapEd Credit Union, Zeal Credit Union, Finworth, Coastal1 Credit Union, Service Credit Union, National Cooperative Bank, Premier Members Credit Union, Bank of America, Flagstar Bank, 1st MidAmerica Credit Union, INOVA Federal Credit Union, Genisys Credit Union, Ivy Bank, Heartland Credit Union, Luana Savings Bank, Spectra Credit Union, Workers Credit Union, Credit Human, EFCU Financial, Poppy Bank, Credit One Bank, Vibrant Credit Union, CFBank, Department of Commerce Federal Credit Union, Seattle Bank, Crescent Bank, Pima Federal Credit Union, Cross River Bank, USAA, Great River Federal Credit Union, Brilliant Bank, Merchants Bank of Indiana, LendingClub, Chartway Credit Union, First Central Savings Bank, AgFed Credit Union, North American Savings Bank, Pelican State Credit Union, First Community Credit Union, Bask Bank, Skyla Credit Union, SkyOne Federal Credit Union, 3Rivers Federal Credit Union, Utah First Credit Union, Pasadena Federal Credit Union, Magnifi Financial, AloStar, Primis Bank, Farmers Insurance Federal Credit Union, Tampa Bay Federal Credit Union, Veridian Credit Union, Republic Bank, Salem Five Direct, All In Credit Union, Bethpage Federal Credit Union, Self-Help Federal Credit Union, Forbright Bank, Jovia Financial Credit Union, Sun Canyon Bank, Fortera Credit Union, Partners 1st Federal Credit Union, SouthEast Bank, American Bank, Newtek Bank, CBC Federal Credit Union, Vanguard, All America Bank, Amalgamated Bank, Citizens State Bank, AmBoy Direct, Republic Bank of Chicago, Oklahoma Community Credit Union, BluPeak Credit Union, Valley Direct, Bayer Heritage Federal Credit Union, First Harvest Credit Union, Orion Federal Credit Union, Wellby Financial, FedChoice Federal Credit Union, CoVantage Credit Union, Choice First Bank, Sandia Area Federal Credit Union, OMB Bank, Minnequa Works Credit Union, Securityplus Federal Credit Union, Bank of South Texas, T Bank. Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs to customers nationwide, and determines daily rankings of the top-paying certificates in every major term. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), the CD's minimum initial deposit must not exceed $25,000, and any specified maximum deposit cannot be under $5,000. Banks must be available in at least 40 states. And while some credit unions require you to donate to a specific charity or association to become a member if you don't meet other eligibility criteria (e.g., you don't live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology. Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. FDIC. "National Rates and Rate Caps." CME Group. "FedWatch Tool." Federal Reserve. "Open Market Operations." Federal Reserve. "Federal Reserve Issues FOMC Statement." FDIC. "Fact Sheet." TreasuryDierct. "Treasury Bills: FAQs." Related Terms Jumbo Certificate of Deposit (CD): What It Is, Pros and Cons A jumbo certificate of deposit (CD) is a type of savings account with higher balance requirements than a traditional CD. It generally pays a higher interest rate. CD Ladder: What It Is and How to Build One A CD ladder is an investing strategy which you buy multiple certificates of deposit (CDs) with different maturity dates. Learn how to build a CD ladder. What Is a Certificate of Deposit (CD)? Pros and Cons A certificate of deposit (CD) is a type of savings account offered by banks and credit unions. It pays a fixed interest rate for a set period of time. Deposit Interest Rate: Definition, Fixed Vs. Variable A deposit interest rate is the interest rate paid to deposit account holders for accounts like certificates of deposit (CD) and savings accounts. Sweep Accounts Definition: Types and How They Work A sweep account automatically transfers amounts over or below a certain level into a higher interest-earning investment option. Christmas Club: Overview, History, Example A Christmas club is a savings account to help people save for the holidays. Money is deposited throughout the year and withdrawn before the holidays.In the News
Best 6-Month CD Rates
How to Find the Best CDs in Other Terms
Why You Should Trust Us
My Banking Direct – 5.25% APY
AloStar – 5.25% APY*
Vibrant Credit Union – 5.25% APY*
Mountain America Credit Union – 5.25% APY
MutualOne Bank – 5.25% APY
Merchants Bank of Indiana – 5.25% APY
CommunityWide Federal Credit Union – 5.25% APY
Genisys Credit Union – 5.25% APY
Financial Partners Credit Union – 5.25% APY
First Harvest Credit Union – 5.25% APY*
Pacific National Bank – 5.25% APY
Climate First Bank – 5.24% APY
ableBanking – 5.20% APY
Pen Air Federal Credit Union – 5.15% APY
DR Bank – 5.15% APY
Sun Canyon Bank – 5.15% APY
Elements Financial – 5.15% APY
Compare the Best 6-Month CDs
Institution Rate (APY) Term Minimum Deposit Early Withdrawal Penalty My Banking Direct 5.25% 5 months $2,500 1 month of interest AloStar 5.25% 5 months $10,000 3 months of interest Vibrant Credit Union 5.25% 6 months $5 All earned interest Mountain America Credit Union 5.25% 6 months $500 3 months of interest MutualOne Bank 5.25% 6 months $500 3 months of interest Merchants Bank of Indiana 5.25% 6 months $1,000 3 months of interest CommunityWide Federal Credit Union 5.25% 6 months $1,000 Complex formula; exercise caution Genisys Credit Union 5.25% 7 months $500 6 months of interest Financial Partners Credit Union 5.25% 7 months $1,000 3 months of interest First Harvest Credit Union 5.25% 7 months $1,000 3 months of interest Pacific National Bank 5.25% 9 months $1,000 7 days of interest if withdrawal is made within 6 days of opening account; otherwise 1 month of interest Climate First Bank 5.24% 6 months $500 None ableBanking 5.20% 6 months $5,000 3 months of interest Pen Air Federal Credit Union 5.15% 5 months $500 3 months of interest DR Bank 5.15% 6 months $500 6 months of interest Sun Canyon Bank 5.15% 6 months $5,000 3 months of interest Elements Financial 5.15% 8 months $1,000 2 months of interest CDs from Big-Name Banks and Credit Unions
What Is a 6-Month CD?
Pros and Cons of 6-Month CDs
Pros
Cons
Fast Fact
How Much Does $10,000 Earn in a 6-Month CD?
Deposit Amount APY Term Earnings $10,000 5.00% 6 months $253.15 $10,000 5.30% 6 months $268.54 $10,000 5.55% 6 months $281.39 How to Find the Best 6-Month CD Rates
Alternatives to 6-Month CDs
Shorter or Longer CDs: What CD Term Has the Best Rates?
Liquid Accounts
Bonds or Bond Funds
How Are CD Rates Determined?
Frequently Asked Questions
Are CDs Safe?
When Should You Get a 6-Month CD?
What Happens If You Take Your Money Out Early?
Can I Lose Money on a 6-Month CD?
How Do You Use a 6-Month CD in a CD Ladder?
Why Don't I See Any Bank Names I Recognize in Your Ranking?
Financial Institutions We Reviewed
How We Pick the Best 6-Month CDs
Guide to CDs
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