Here's How Much $10,000 Would Earn in a 6-Month CD Now
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Some online banks are offering APYs around the 3.00% to 3.50% mark right now. So you'd earn around $150 to $175 in interest with a $10,000 deposit.
But not every bank offers high APYs like this. In fact, the national average right now for 6-month CDs is just 1.58% APY. Many big traditional banks pay way lower.
That's why it pays to compare APYs before you lock anything in. Here's how to find the best rates, and whether CDs even make sense in the short term.
What a 6-month CD pays today with $10,000
To give you a quick idea of your earning potential, here's what a $10,000 deposit could generate in six months at a few different interest rates:
- 1.58% APY (national average): ~$78
- 3.00% APY: ~$149
- 3.50% APY: ~$173
- 3.75% APY: ~$186
You might assume that most CDs offer similar rates -- after all, it's the same product across the board, right?
Not really. Even for identical terms like 6 months, CD rates are all over the place.
One bank might offer you 1.00% APY, while another pays over 4.00%. That's a massive spread for a product that comes with FDIC insurance, a guaranteed maturity date, and nearly zero complexity.
On top of that, some banks are getting creative with nonstandard terms (like 8-month or 11-month CDs) with promotional rates that outperform traditional timelines. One standout right now is Synchrony Bank, offering a 14 Mo. term at 4.00% APY.
Synchrony Online CD
On Synchrony Bank's Secure Website.
When a short-term CD makes sense
A 6-month CD is ideal for money you don't want to risk in the market but don't need immediate access to either. It's great for:
- Short-term goals: Like a wedding, tax bill, or down payment
- Holding pattern money: While you wait to invest or lock in a better mortgage rate
- Cash that's just sitting: Put it to work earning more than a regular savings account
CDs let you earn a predictable return, and you won't be tempted to dip into it since it's locked for six months.
But timing still matters a little. A 6-month CD works best when the APY is meaningfully higher than what you'd get from a liquid high-yield savings account, and when you're confident you won't need the funds before maturity.
Right now, top high-yield savings accounts also offer APYs in the 3.50% range. While interest rates can change at any time, they usually don't "crash" or move wildly in the short term.
Final thoughts
Short-term CDs are one of the easiest ways to put lazy cash to work -- especially when you don't need the funds right away but want something better than your checking account's 0.01% yield.
If you're sitting on $10K and waiting for the "right time" to invest or make a big move, this could be a great way to earn $200 or so while you wait.
Our Research Expert
Joel O’Leary is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, mortgages, and other personal finance topics. Joel has been writing about personal finance since 2018, previously leading editorial content for the How To Money podcast and serving as a resident writer at Budgets Are Sexy. He bought his first rental property at age 18, funding the down payment with savings from his high school job at McDonald’s -- a testament to his lifelong passion for smart money decisions. His work aims to make personal finance accessible and actionable for everyday readers. When he’s not writing, Joel enjoys surfing and spending time with his family.