Please ensure Javascript is enabled for purposes of website accessibility

This device is too small

If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.

Skip to main content

Best 6-Month CD Rates of February 2024

Review Updated
Kevin Payne
Matt Frankel, CFP®
By: Kevin Payne and Matt Frankel, CFP®

Our Banking Experts

Eric McWhinnie
Check IconFact Checked Eric McWhinnie
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield

Six-month CD rates are a great way to maximize your short-term savings, especially if you can score a higher interest rate. Your money isn't tied up as long as with longer CD terms, giving you the flexibility to pivot your investing strategy as needed. Here are our picks for the best 6-month CD rates, what to consider when choosing a CD, and alternatives that may offer better returns.

Ratings Methodology
Rates as of
Best 6-Month Certificates of Deposits (CDs) of February 2024 picks.
Bank & CD Offer APY Term Min. Deposit Next Steps
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.05% Term: 6 Months Min. Deposit:  $500
APY: 5.23% Term: 6 Months Min. Deposit:  $1
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $2,500
Member FDIC.
APY: 4.76% Term: 6 Months Min. Deposit:  $1,000
APY: 5.10% Term: 6 Months Min. Deposit:  $2,500
APY: 4.90% Term: 6 Months Min. Deposit:  $0
APY: 5.05% Term: 6 Months Min. Deposit:  $500
APY: 4.95% Term: 6 Months Min. Deposit:  $500
Vio Bank High-Yield CD
Member FDIC.
APY: 5.20% Term: 6 Months Min. Deposit:  $500
APY: 3.00% Term: 1 Months Min. Deposit: 
Huntington Bank Standard CD
Member FDIC.
APY: 0.05% Term: 1 Months Min. Deposit:  $1,000
Freedom Bank High-Yield CDs from Raisin
Member FDIC.
APY: 5.06% Term: 1 Months Min. Deposit:  $500
APY: 3.00% Term: 2 Months Min. Deposit: 
APY: Up to 4.51% Term: 3 Months Min. Deposit:  $2,500
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 3 Months Min. Deposit:  $500
APY: 2.00% Term: 3 Months Min. Deposit:  $2,500
APY: 3.00% Term: 3 Months Min. Deposit:  $0
APY: 5.41% Term: 3 Months Min. Deposit:  $1
Freedom Bank High-Yield CDs from Raisin
Member FDIC.
APY: 5.10% Term: 3 Months Min. Deposit:  $500
APY: 3.50% Term: 3 Months Min. Deposit: 
APY: 3.00% Term: 3 Months Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.05% Term: 3 Months Min. Deposit:  $1,000
APY: 4.90% Term: 5 Months Min. Deposit: 
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $500
APY: 3.00% Term: 6 Months Min. Deposit:  $500
Republic Bank of Chicago CD
Member FDIC.
APY: 0.50% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 1.00% - 5.00% Term: 6 Months Min. Deposit:  $250.00
Fidelity CD
Member FDIC.
APY: 5.45% Term: 6 Months Min. Deposit:  $1,000
Generations Bank High-Yield CD from Raisin
Member FDIC.
APY: 5.21% Term: 6 Months Min. Deposit:  $1
Salem Five Bank CD
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $10,000
Arvest Bank CD
Member FDIC.
APY: Up to 4.60% Term: 6 Months Min. Deposit:  $1,000
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.50% Term: 6 Months Min. Deposit:  $1,000
APY: Up to 2.51% Term: 6 Months Min. Deposit:  $2,500
APY: 4.35% Term: 6 Months Min. Deposit:  $0
Valley Bank
Member FDIC.
APY: 4.75% Term: 6 Months Min. Deposit: 
Member FDIC.
APY: 0.05% Term: 6 Months Min. Deposit:  $1,000
APY: 4.00% Term: 6 Months Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 5.22% Term: 6 Months Min. Deposit:  $1,000
Bask Bank CD
Member FDIC.
APY: 5.10% Term: 6 Months Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.15% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.45% Term: 6 Months Min. Deposit:  $1,000
APY: 4.00% Term: 6 Months Min. Deposit: 
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 6 Months Min. Deposit:  $500
APY: 3.80% Term: 6 Months Min. Deposit: 
Member FDIC.
APY: 5.52% Term: 6 Months Min. Deposit: 
Freedom Bank High-Yield CDs from Raisin
Member FDIC.
APY: 5.10% Term: 6 Months Min. Deposit:  $500
All America Bank CD
Member FDIC.
APY: 4.75% Term: 6 Months Min. Deposit: 
First Tech CD
APY: up to 4.91% Term: 6 Months Min. Deposit:  $500
Generations Bank CD
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $1,000
APY: 4.25% Term: 6 Months Min. Deposit:  $2,500
APY: 4.40% Term: 6 Months Min. Deposit:  $0
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.01% Term: 7 Months Min. Deposit:  $500
APY: 4.75% Term: 7 Months Min. Deposit:  $500
Arvest Bank CD
Member FDIC.
APY: Up to 5.05% Term: 7 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 5.20% Term: 7 Months Min. Deposit:  Up to $10,000
APY: Up to 5.01% Term: 7 Months Min. Deposit:  $2,500
APY: 5.00% Term: 7 Months Min. Deposit: 
Huntington Bank Promotional CD
Member FDIC.
APY: 5.13% Term: 7 Months Min. Deposit:  $1,000
Freedom Bank No Penalty CDs from Raisin
Member FDIC.
APY: 5.10% Term: 9 Months Min. Deposit:  $1
APY: 4.97% Term: 9 Months Min. Deposit:  $1
Member FDIC.
APY: 3.75% Term: 9 Months Min. Deposit:  $500
APY: 4.25% Term: 9 Months Min. Deposit:  $2,500
APY: 5.15% Term: 9 Months Min. Deposit:  $2,500
APY: 4.45% Term: 9 Months Min. Deposit:  $0
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 9 Months Min. Deposit:  $1,000
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 5.55% Term: 9 Months Min. Deposit:  $10,000
Member FDIC.
APY: 5.30% Term: 9 Months Min. Deposit:  $500
APY: 5.50% Term: 9 Months Min. Deposit:  $0
APY: 5.10% Term: 9 Months Min. Deposit:  $500
Generations Bank High-Yield CD from Raisin
Member FDIC.
APY: 5.31% Term: 10 Months Min. Deposit:  $1
APY: 4.50% Term: 11 Months Min. Deposit:  $0
Huntington Bank Promotional CD
Member FDIC.
APY: 4.86% Term: 11 Months Min. Deposit:  $1,000
Member FDIC.
APY: 4.90% Term: 11 Months Min. Deposit:  $1,000
APY: 5.00% Term: 1 Year Min. Deposit:  $5,000
APY: 5.10% Term: 1 Year Min. Deposit:  $0
Connexus Credit Union Share CD
APY: Up to 4.81 Term: 1 Year Min. Deposit:  $5,000
APY: 4.90% Term: 1 Year Min. Deposit:  $2,500
APY: 5.25% Term: 1 Year Min. Deposit:  $2,500
Freedom Bank No Penalty CDs from Raisin
Member FDIC.
APY: 5.15% Term: 1 Year Min. Deposit:  $1
APY: 5.15% Term: 1 Year Min. Deposit:  $0
Member FDIC.
APY: 5.30% Term: 1 Year Min. Deposit:  $500
Valley Bank
Member FDIC.
APY: 4.50% Term: 1 Year Min. Deposit: 
APY: 4.75% Term: 1 Year Min. Deposit:  $1,000
APY: 5.15% Term: 1 Year Min. Deposit:  $500
Member FDIC.
APY: 5.35% Term: 1 Year Min. Deposit:  $1,500
APY: 4.71% Term: 1 Year Min. Deposit:  $1
Salem Five Bank CD
Member FDIC.
APY: 5.00% Term: 1 Year Min. Deposit:  $10,000
Member FDIC.
APY: 5.00% Term: 1 Year Min. Deposit:  $2,500
All America Bank CD
Member FDIC.
APY: 4.75% Term: 1 Year Min. Deposit: 
First Tech CD
APY: up to 4.55% Term: 1 Year Min. Deposit:  $500
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 1 Year Min. Deposit:  $500
Generations Bank CD
Member FDIC.
APY: 5.20% Term: 1 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 5.35% Term: 1 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 5.45% Term: 1 Year Min. Deposit:  $1,000
Bask Bank CD
Member FDIC.
APY: 5.00% Term: 1 Year Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 0.75% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 1 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 1 Year Min. Deposit:  $1,000
APY: 4.65% Term: 1 Year Min. Deposit:  $0
Arvest Bank CD
Member FDIC.
APY: Up to 5.10% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.35% Term: 1 Year Min. Deposit:  $1,000
Flushing Bank CD
Member FDIC.
APY: 5.00% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.75% to 3.75% Term: 1 Year Min. Deposit:  $500
Member FDIC.
APY: 4.76% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 1.00% - 4.75% Term: 1 Year Min. Deposit:  $250.00
Member FDIC.
APY: 4.75% Term: 1 Year Min. Deposit:  $500
Member FDIC.
APY: 5.50% Term: 1 Year Min. Deposit: 
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.60% Term: 1 Year Min. Deposit:  $1,000
APY: 4.95% Term: 1 Year Min. Deposit:  $500
Vanguard Brokered CD
Member FDIC.
APY: 5.30% Term: 1 Year Min. Deposit:  $1,000
APY: 4.25% Term: 1 Year Min. Deposit: 
APY: 3.75% Term: 1 Year Min. Deposit:  $0
APY: 1.50% Term: 1 Year Min. Deposit:  $500
APY: 5.15% Term: 13 Months Min. Deposit: 
APY: 5.25% Term: 13 Months Min. Deposit: 
Republic Bank of Chicago CD
Member FDIC.
APY: 4.33% Term: 13 Months Min. Deposit:  $1,000
SchoolsFirst Federal Credit Union CD
Federally insured by NCUA.
APY: 5.00% Term: 13 Months Min. Deposit:  $500
Member FDIC.
APY: 4.65% Term: 13 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 5.00% Term: 13 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: 5.25% Term: 13 Months Min. Deposit:  $1,000
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 5.30% Term: 15 Months Min. Deposit:  $10,000
Flushing Bank CD
Member FDIC.
APY: 4.60% Term: 15 Months Min. Deposit:  $1,000
Member FDIC.
APY: 4.00% Term: 15 Months Min. Deposit:  $500
Federally insured by NCUA.
APY: 5.10% Term: 16 Months Min. Deposit:  $500
Republic Bank of Chicago CD
Member FDIC.
APY: 1.00% Term: 1.5 Year Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.20% Term: 1.5 Year Min. Deposit:  $1,000
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 1.5 Year Min. Deposit:  $500
APY: 5.00% Term: 1.5 Year Min. Deposit:  $0
Member FDIC.
APY: 0.05% Term: 1.5 Year Min. Deposit:  $250.00
APY: 4.75% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 5.15% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 1.5 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 5.07% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 5.55% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.70% Term: 1.5 Year Min. Deposit:  $0
APY: 4.90% Term: 1.5 Year Min. Deposit:  $2,500
APY: 1.00% Term: 1.5 Year Min. Deposit:  $0
Member FDIC.
APY: 4.60% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.45% Term: 1.5 Year Min. Deposit:  $0
APY: 4.60% Term: 1.5 Year Min. Deposit:  $2,500
APY: 4.50% Term: 1.5 Year Min. Deposit:  $0
APY: 4.60% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.27% Term: 1.5 Year Min. Deposit: 
Member FDIC.
APY: 5.55% Term: 1.5 Year Min. Deposit: 
Member FDIC.
APY: 2.85% Term: 1.5 Year Min. Deposit:  $500
APY: 1.50% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $2,500
Salem Five Bank CD
Member FDIC.
APY: 4.50% Term: 1.5 Year Min. Deposit:  $10,000
APY: 4.80% Term: 1.5 Year Min. Deposit:  $500
Fidelity CD
Member FDIC.
APY: 5.50% Term: 1.5 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 1.5 Year Min. Deposit:  $1,000
Bask Bank CD
Member FDIC.
APY: 4.50% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.60% Term: 1.5 Year Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 3.50% Term: 19 Months Min. Deposit:  Up to $10,000
Arvest Bank CD
Member FDIC.
APY: Up to 4.63% Term: 2 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.85% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.25% Term: 2 Year Min. Deposit:  $1,000
Salem Five Bank CD
Member FDIC.
APY: 3.25% Term: 2 Year Min. Deposit:  $10,000
APY: 4.40% Term: 2 Year Min. Deposit:  $500
APY: 4.40% Term: 2 Year Min. Deposit:  $0
Member FDIC.
APY: 4.65% Term: 2 Year Min. Deposit:  $1,500
APY: 4.20% Term: 2 Year Min. Deposit:  $2,500
Valley Bank
Member FDIC.
APY: 4.00% Term: 2 Year Min. Deposit: 
APY: 4.50% Term: 2 Year Min. Deposit:  $500
APY: 3.30% Term: 2 Year Min. Deposit:  $5,000
Bask Bank CD
Member FDIC.
APY: 4.50% Term: 2 Year Min. Deposit:  $1,000
APY: 4.40% Term: 2 Year Min. Deposit:  $1,000
APY: 4.50% Term: 2 Year Min. Deposit:  $2,500
Member FDIC.
APY: 4.50% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 0.05% Term: 2 Year Min. Deposit:  $250.00
Fidelity CD
Member FDIC.
APY: 5.40% Term: 2 Year Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 1.25% Term: 2 Year Min. Deposit:  $1,000
First Tech CD
APY: up to 2.25% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 5.40% Term: 2 Year Min. Deposit: 
APY: 4.00% Term: 2 Year Min. Deposit:  $0
APY: 1.50% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 0.05% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.40% Term: 2 Year Min. Deposit:  $1,000
All America Bank CD
Member FDIC.
APY: 4.25% Term: 2 Year Min. Deposit: 
Generations Bank CD
Member FDIC.
APY: 4.24% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.50% Term: 2 Year Min. Deposit:  $2,500
Connexus Credit Union Share CD
APY: Up to 4.56% Term: 2 Year Min. Deposit:  $5,000
APY: 4.30% Term: 2 Year Min. Deposit: 
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 2 Year Min. Deposit:  $500
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.45% Term: 2 Year Min. Deposit:  $1,000
APY: 4.00% Term: 2 Year Min. Deposit:  $0
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 2 Year Min. Deposit:  $500
Vanguard Brokered CD
Member FDIC.
APY: 5.10% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.00% Term: 25 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 3.50% Term: 25 Months Min. Deposit:  Up to $10,000
APY: 4.00% Term: 30 Months Min. Deposit:  $2,500
APY: 1.50% Term: 30 Months Min. Deposit:  $500
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 35 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: 4.75% Term: 35 Months Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.00% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.40% Term: 3 Year Min. Deposit:  $500
APY: 1.15% Term: 3 Year Min. Deposit:  $0
APY: 4.00% Term: 3 Year Min. Deposit:  $2,500
Member FDIC.
APY: 0.10% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.15% Term: 3 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 3 Year Min. Deposit:  $1,000
APY: 1.50% Term: 3 Year Min. Deposit:  $500
Member FDIC.
APY: 4.30% Term: 3 Year Min. Deposit:  $2,500
Member FDIC.
APY: 5.15% Term: 3 Year Min. Deposit: 
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 3 Year Min. Deposit:  $500
All America Bank CD
Member FDIC.
APY: 3.75% Term: 3 Year Min. Deposit: 
APY: 2.85% Term: 3 Year Min. Deposit: 
APY: 4.10% Term: 3 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.75% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 3 Year Min. Deposit:  $500
Member FDIC.
APY: 4.25% Term: 3 Year Min. Deposit:  $1,500
APY: 4.30% Term: 3 Year Min. Deposit:  $500
Salem Five Bank CD
Member FDIC.
APY: 2.00% Term: 3 Year Min. Deposit:  $10,000
First Tech CD
APY: up to 2.45% Term: 3 Year Min. Deposit:  $500
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 3 Year Min. Deposit:  $1,000
APY: 4.30% Term: 3 Year Min. Deposit:  $0
Member FDIC.
APY: 0.05% Term: 3 Year Min. Deposit:  $250.00
APY: 4.00% Term: 3 Year Min. Deposit:  $2,500
APY: 3.50% Term: 3 Year Min. Deposit:  $0
APY: 3.35% Term: 3 Year Min. Deposit:  $5,000
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.35% Term: 3 Year Min. Deposit:  $1,000
APY: 4.00% Term: 3 Year Min. Deposit:  $0
APY: 4.25% Term: 3 Year Min. Deposit:  $500
Fidelity CD
Member FDIC.
APY: 5.15% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.15% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: up to 1.75% Term: 37 Months Min. Deposit:  $1
Member FDIC.
APY: 4.75% Term: 45 Months Min. Deposit:  $1,000
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 4 Year Min. Deposit:  $500
Member FDIC.
APY: 4.90% Term: 4 Year Min. Deposit:  $1,000
APY: 3.40% Term: 4 Year Min. Deposit:  $5,000
APY: 4.20% Term: 4 Year Min. Deposit:  $500
APY: 1.61% Term: 4 Year Min. Deposit: 
Member FDIC.
APY: 0.15% Term: 4 Year Min. Deposit:  $1,000
APY: 2.50% Term: 4 Year Min. Deposit: 
Member FDIC.
APY: 4.90% Term: 4 Year Min. Deposit: 
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 4 Year Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.05% Term: 4 Year Min. Deposit:  $1,000
APY: 3.50% Term: 4 Year Min. Deposit:  $0
APY: 4.05% Term: 4 Year Min. Deposit:  $1,000
APY: 4.00% Term: 4 Year Min. Deposit:  $0
Fidelity CD
Member FDIC.
APY: 4.90% Term: 4 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.15% Term: 4 Year Min. Deposit:  $1,500
APY: 3.90% Term: 4 Year Min. Deposit:  $2,500
Salem Five Bank CD
Member FDIC.
APY: 2.25% Term: 4 Year Min. Deposit:  $10,000
APY: 4.05% Term: 4 Year Min. Deposit:  $0
APY: 1.20% Term: 4 Year Min. Deposit:  $0
APY: 4.00% Term: 4 Year Min. Deposit:  $500
Member FDIC.
APY: 2.00% Term: 4 Year Min. Deposit:  $500
Member FDIC.
APY: 3.95% Term: 4 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.54% Term: 4 Year Min. Deposit:  $1,000
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.20% Term: 4 Year Min. Deposit:  $1,000
All America Bank CD
Member FDIC.
APY: 3.49% Term: 4 Year Min. Deposit: 
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 4.60% Term: 49 Months Min. Deposit:  $10,000
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 52 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: 4.75% Term: 59 Months Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 5 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 5 Year Min. Deposit:  $1,000
APY: 4.00% Term: 5 Year Min. Deposit:  $2,500
Member FDIC.
APY: 4.00% Term: 5 Year Min. Deposit:  $2,500
First Tech CD
APY: up to 3.55% Term: 5 Year Min. Deposit:  $500
Member FDIC.
APY: 3.90% Term: 5 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 4.85% Term: 5 Year Min. Deposit:  $1,000
APY: 4.10% Term: 5 Year Min. Deposit:  $500
APY: 3.95% Term: 5 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.59% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.80% Term: 5 Year Min. Deposit: 
Member FDIC.
APY: 4.15% Term: 5 Year Min. Deposit:  $1,500
APY: 3.00% Term: 5 Year Min. Deposit:  $0
Member FDIC.
APY: 0.05% Term: 5 Year Min. Deposit:  $250.00
First National Bank Standard CD
Member FDIC.
APY: 1.50% Term: 5 Year Min. Deposit:  $500
APY: 3.45% Term: 5 Year Min. Deposit:  $5,000
Member FDIC.
APY: 4.80% Term: 5 Year Min. Deposit:  $1,000
All America Bank CD
Member FDIC.
APY: 3.49% Term: 5 Year Min. Deposit: 
APY: 4.00% Term: 5 Year Min. Deposit:  $500
Member FDIC.
APY: 2.00% Term: 5 Year Min. Deposit:  $500
Member FDIC.
APY: 0.25% Term: 5 Year Min. Deposit:  $1,000
APY: 4.00% Term: 5 Year Min. Deposit:  $0
APY: 1.50% Term: 5 Year Min. Deposit:  $500
APY: 3.25% Term: 5 Year Min. Deposit: 
Vanguard Brokered CD
Member FDIC.
APY: 5.00% Term: 5 Year Min. Deposit:  $1,000
APY: 4.00% Term: 5 Year Min. Deposit:  $0
Member FDIC.
APY: 4.30% Term: 5 Year Min. Deposit:  $500
Salem Five Bank CD
Member FDIC.
APY: 2.25% Term: 5 Year Min. Deposit:  $10,000
APY: 3.90% Term: 5 Year Min. Deposit:  $0
APY: 3.75% Term: 5 Year Min. Deposit:  $0
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.10% Term: 5 Year Min. Deposit:  $1,000
APY: 3.90% Term: 5 Year Min. Deposit:  $2,500
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 61 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: up to 2.00% Term: 61 Months Min. Deposit:  $1
APY: 4.00% Term: 6 Year Min. Deposit:  $500
APY: 1.50% Term: 6 Year Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 6 Year Min. Deposit:  $1,000
APY: 3.80% Term: 7 Year Min. Deposit:  $2,500
APY: 3.80% Term: 10 Year Min. Deposit:  $2,500
tip_light_bulb exported from figma
TIP
How we decide which 6-month CD rates to recommend

These 6-month CD rates are on this "best of" page… why? Because when the parents come knocking for CD recommendations, these are the picks we pass along. Big banks can't pay their way onto this list -- we finance fanatics at The Ascent only recommend 6-month CD rates we genuinely believe in. Feel free to pass along these rates over breakfast. We sure do. It goes waffles, apple juice, and then CD rates. No, we're not weird; you are.

How to find the best 6-month CD rates

When you're looking for the best 6-month CD rates, start by looking at online banks. Since they have less overhead than traditional banks, they can often offer the best CD rates. It's always a good idea to check all your options, though -- so don't rule out brick-and-mortar banks entirely. Some have made impressive efforts to stay competitive with their online counterparts. Additionally, make sure to choose a financial institution where your money is protected. The FDIC protects your bank deposits up to $250,000 per depositor. The NCUA offers the same protection for credit unions. If your CD is not protected by either of these organizations, you could lose your money if the financial institution fails.

How to compare the best 6-month CD rates

Here are some other factors besides APY to consider when comparing 6-month CDs:

Minimum deposit: Some CDs have minimum deposit requirements, while others don't. As with other types of bank accounts, be sure you can meet the minimum requirements. This is especially important if you plan on constructing a CD ladder made up of various maturity terms. 

Fees: Most CDs don't charge monthly maintenance fees, but it's always good to check just in case. Getting one of the best 6-month CD rates is not as much of a financial victory if you're paying hefty fees.

Withdrawal penalties: Most financial institutions charge penalties if you withdraw money from a CD before it reaches maturity. Penalties vary from bank to bank and usually equal to a few months' worth of interest. Don't invest your money in a 6-month CD if you'll need the money within the next six months.

Compounding interest: Banks handle CD interest differently. Typically, interest compounds daily, weekly, or monthly. CDs with interest that compounds daily will earn you slightly more money over time. To be clear, this isn't a big difference, and is reflected in the APY you see when you open a new CD. 

Interest payouts: How does the bank pay interest? Does it pay monthly, quarterly, or annually? Do you have the choice between having interest paid directly to you or added to your account? Adding earned interest to your principal funds will maximize the benefits of snagging a high CD rate.

CD maturity: Many CDs will renew automatically following a grace period if you don't take action. You'll need to actively opt out at the end of your CD term, either by contacting your bank directly or withdrawing your funds during the grace period. Forgetting to do so means your money will be tied up -- often at different rate -- for another six months.

It might seem like a given, but always check that a bank is FDIC insured before opening a CD account. (Note: All of the CDs on our best-of list are offered by banks that are.) FDIC insurance means that your accounts are covered up to $250,000 per depositor, per bank, and in some cases banks offer even higher limits by partnering with other institutions.

What to consider when choosing a 6-month CD

Opening a 6-month CD account can be a solid investment choice, but it also has its drawbacks. Here are some pros and cons to opening 6-month CDs.

Pros

Higher rates: The best 6-month CD rates are higher than the average savings account rates. That's because banks reward CD customers with better rates for leaving their money untouched in the bank long term. However, 6-month CDs tend to have lower rates than longer-term CDs.

Fixed rates won’t fall: CD rates are fixed, which gives them an advantage over savings accounts. If you lock in a high 6-month CD rate, you'll earn at that rate until your CD reaches maturity -- even if market rates drop.

Predictable returns: Customers can easily calculate exactly how much interest they will earn from any bank's CD simply by looking at the bank's 6-month CD rates.

Cons

Rates may rise: Having a fixed rate is great until you see rates start to rise. Even with short-term CDs, you will lose out on added savings if rates go up.

Penalties: Tying up your money in 6-month CDs may not seem like a big deal now, but a lot can happen in that time. The benefits of even the best 6-month CD rates will go out the window if you have to pay early-withdrawal penalties.

Inflation risks: Although this isn't a common problem with shorter CD terms, there's always the possibility your CD rate doesn't keep up with inflation. This is another reason it's a good idea to look for the best 6-month CD rates: The higher your rate, the better chance you have of outpacing inflation.

Alternatives to a 6-month CD

The best 6-month CD rates allow you to earn a fair amount of money in a short amount of time. However, other options might provide more flexibility or more growth. Here are a few alternatives to a 6-month CD to consider:

High-yield savings accounts: For high-yield interest while keeping your money accessible, try a high-yield savings account. The interest on these accounts can sometimes approach 6-month CD rates. Another plus: Savings accounts don't require you to leave your money untouched long term. However, keep in mind that savings account interest rates are not guaranteed for any specific length of time, and can certainly rise or fall significantly within a six-month period. 

Money market accounts: Money market accounts are similar to savings accounts, but they often come with extra features like an ATM card or check-writing privileges. They also feature high-yield savings rates that are comparable to the best CD rates. Money market accounts are a great way to build toward a savings goal, like a vacation or emergency fund.

Longer-term CDs: Typically, a longer CD term will offer a higher interest rate than even the best 6-month CD rates. But be careful: You could face hefty penalties if you need to withdraw funds early. Another option is to build a CD ladder. This strategy involves opening several CD accounts of varying lengths. CD ladders allow you to take advantage of higher rates without tying up all of your money long term.

Investments: If you are playing the long game, CDs are unlikely to earn as much interest as investing in stocks or a retirement fund. However, you won't see high returns on the stock market within six months -- you'll likely need to wait a few years. There's also a greater risk because stocks can fall dramatically in a short time. Investing is only a smart choice if you can let your money sit and grow long term.

Six-month CDs are one of the shortest CD terms available but typically have higher APYs than the national savings rate. Whether a CD is right for you depends on your banking needs and whether you can commit to leaving your money alone for a set period.

Best 6-Month CD Rates

Offer APY Min. Deposit
5.00% - 6 Mo. $1,000
5.05% - 6 Mo. $500
5.23% - 6 Mo. $1
5.00% - 6 Mo. $2,500
4.76% - 6 Mo. $1,000
5.10% - 6 Mo. $2,500
4.90% - 6 Mo. $0
5.05% - 6 Mo. $500
4.95% - 6 Mo. $500
Vio Bank High-Yield CD
5.20% - 6 Mo. $500
APY = Annual Percentage Yield

FAQs

  • A 6-month CD is right for people who want to earn a decent interest rate but don't want their money tied up longer than six months.

  • Six-month CDs are a great way to get a taste of the CD world without commiting your money for a long period. They are also a great short-term CD option in a CD-ladder strategy.

  • A 6-month CD is worth it if you prefer the flexibility of a shorter CD term over the higher rate of a longer term.

Our Banking Experts