If you're interested in short-term CDs and want to earn a high interest rate, 6-month CDs could be a good choice for you. The national average CD rate on a 6-month term is 1.64% APY (Annual Percentage Yield) according to the FDIC, but you can earn much higher rates with the best 6-month CDs from online banks and credit unions.
| Featured Offer | APYs (Annual Percentage Yields) are accurate as of 02/12/2025 | Minimum Deposit |
| Featured Offer - Barclays 6 Month Online CD | 3.80% | $0 |
However, there are much higher interest rates on 6-month CDs right now. The best CD rate for a 6-month term is 4.51% APY available at TotalBank.
At Business Insider, we monitor CDs available at top banks and credit unions every day to help you find the best 6-month CD for you. Now's a great time to open a CD; the Fed held interest rates steady at the last Fed meeting, but it might lower rates in the future.
Below, you'll find our top picks for the best 6-month terms currently offered by nationwide banks and credit unions.
Best 6-Month CDs
- TotalBank 6 Month CD: 4.51% APY
- Vibrant Credit Union 6 Month Certificate Special: 4.50% to 4.75% APY
- EagleBank 6 Month CD: 4.50% APY
- Bread Savings 6 Month High-Yield CD: 4.50% APY
- AbleBanking 6 Month CD: 4.50% APY
- Bask Bank 6 Month CD: 4.45% APY
- Credit Human 6 Month Share Certificate: 4.35% APY
- America First Credit Union 6 Month Certificate: 4.40% APY
The best 6-month CDs pay high interest rates, and many of them have low minimum opening deposits and low early withdrawal penalties.
Compare the Best 6-Month CDs
You can find the top CDs primarily at online banks. That said, there are also two credit unions with competitive 6-month terms.
When you are choosing a CD, you can compare different features to narrow down the best fit. For example, consider how much money you want to deposit and see if the bank's minimum opening deposit requirements aren't a reach. You can also weigh the overall banking experience and check out the bank's customer service availability and mobile app ratings before settling on an account.
You might also want to look for eco-friendly banks or community development financial institutions. Both of these types of financial institutions use the money you put in the bank for good; eco-friendly banks help the environment, while CDFIs provide financial services to underserved banking populations. Opening a CD with one of these financial institutions can be an easy way to support causes you care about.
6-Month CD Reviews
These are our picks for the best 6-month CD rates. Our top picks for CDs are protected by FDIC or NCUA insurance. If you're worried about bank failures, keep in mind money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.
TotalBank 6 Month CD
TotalBank CDs may be a good choice if you're searching for a variety of short-term CDs with high interest rates. The 3-month and 6-month terms, in particular, offer CD rates significantly above the national average.
TotalDirectBank CDs have a steep minimum opening deposit of $25,000 and a maximum deposit of $1 million. The online institution also doesn't operate in Florida, Samoa, Guam, the Northern Mariana Islands, or U.S. Virgin Islands.
APY for 6-month CD: 4.51% APY
6-month CD early withdrawal penalty: 30 days of interest
Vibrant Credit Union 6 Month Certificate Special
Vibrant Credit Union offers a good rate on its 6-month CD. The CD has a very low minimum opening deposit of $5, which could be helpful if you want to open a CD with a small amount of money. If you have a Preferred Savings account or an Elite Savings account with Vibrant Credit Union, you'll earn a higher rate.
Vibrant Credit Union is a credit union anyone can join by becoming a member of the Illinois Consumer Council. You can also qualify if you're an employee of a select employer group, a family member of a current Vibrant member, or if you live or work in certain parts of Illinois, Indiana, Iowa, or Wisconsin.
APY for 6-month CD: 4.50% to 4.75% APY
6-month CD early withdrawal penalty: All of the interest accrued
EagleBank 6 Month CD
EagleBank CDs pay competitive interest rates for a variety of terms, including 6-month CDs.
EagleBank has locations in Maryland, Virginia, and Washington, DC, so it can be a great local banking option if you live in these areas. You can also open online CDs ranging from 6 months to 18 months if you don't live near a branch.
You'll only be able to deposit a maximum of $500,000 into a CD.
APY or a 6-month CD: 4.50% APY
6-month CD early withdrawal penalty: 3 months of interest
Bread Savings 6 Month High-Yield CD
Bread Savings is one of the top banks for 6-month CD rates. It also offers a high-yield savings account and other CD terms that pay above the national average.
This CD comes with a $1,500 minimum opening deposit, which is a bit steeper than other banks. If you don't plan to put a lot of money into your CD, you might want to consider one of our other options.
APY for 6-month CD: 4.50% APY
6-month CD early withdrawal penalty: 90 days of interest
AbleBanking 6 Month CD
AbleBanking, an online division of Northeastern Bank, offers a good rate on its 6-month CD. It also has standard-to-low early withdrawal penalties on all of its CD products, which could be helpful if you think there's a chance you'll need to withdraw your money before the end of the term.
AbleBanking requires a significantly higher minimum opening deposit than most CDs do, at $5,000. It also only offers a few CD term lengths; if you want to set up a CD ladder using CDs from one bank, you might struggle to do that with AbleBanking.
APY for 6-month CD: 4.50% APY
6-month CD early withdrawal penalty: 90 days of interest
Bask Bank 6 Month CD
Bask Bank is an excellent option if you'd like to earn a competitive interest rate on a high-yield savings account or 6-month CD. Its 3-month term also pays a great interest rate.
Bask Bank has limited CD terms. If you're looking to open a CD with a term over 2 years, you might prefer another institution.
APY for 6-month CD: 4.45% APY
6-month CD early withdrawal penalty: 90 days of simple interest
Credit Human 6 Month Share Certificate
Credit Human Federal Credit Union offers strong rates on several of its certificates. If you're interested in opening multiple share certificates, and especially if its low minimum deposit of $500 is interesting to you, Credit Human might be a good choice.
Since Credit Human is a credit union, you'll have to meet certain requirements to become a member. Luckily, Credit Human makes it easier than most: All you have to do is join the American Consumer Council. If you join while signing up for Credit Human, they'll even pay your fee. You'll also be eligible to join if you live, work, worship, or go to school in San Antonio or New Orleans, if you're an employee at certain workplaces, or if you're in the U.S. Armed Forces or National Guard, among other ways to join.
APY for 6-month CD: 4.35% APY
6-month CD early withdrawal penalty: 180 days of interest
America First Credit Union 6 Month Certificate
America First Credit Union offers one of the best rates for 6-month CDs, and you only need $500 to open it — which is less than you'll need with many institutions. It also charges relatively low early withdrawal penalties.
This credit union is a great choice if you live in certain areas in the Western United States. Membership is available to people who live, work, study, worship, or volunteer in select counties of Arizona, Idaho, New Mexico, Nevada, Oregon, and Utah. You're also eligible to join if you work for a company on its Select Employer Group list or are a member of an affiliated association.
APY for 6-month CD: 4.40% APY
6-month CD early withdrawal penalty: 60 days of interest
America First Credit Union Review
Bank Trustworthiness and BBB Ratings
We've compared each financial institution's Better Business Bureau score. The BBB grades businesses based on factors like responses to customer complaints, honesty in advertising, and transparency about business practices.
Here is each company's score:
| Institution | BBB rating |
| TotalBank | A- |
| Vibrant Credit Union | A+ |
| EagleBank | A+ |
| Bread Savings | A+ |
| AbleBanking | A+ (rating for its parent bank, Northeast Bank) |
| Bask Bank | B |
| Credit Human | A- |
| America First Credit Union | A+ |
TotalBank has an A- rating from the BBB because it hasn't responded to some customer complaints.
Bask Bank has a B rating from the BBB because of the number of complaints filed against the business.
Credit Human has an A- rating from the BBB because it has a few unresolved customer complaints.
EagleBank has been involved in a recent public controversy. In 2022, EagleBank paid a civil penalty of $10 million in a settlement with the Securities and Exchange Commission. According to the settlement, the SEC accused the bank and former CEO and chairman Ronald D. Paul of making false and misleading statements about party loans relating to Paul's family trusts.
What Makes 6-Month CD Rates Fluctuate?
Role of the Federal Reserve
CD rates are often impacted by changes in the federal funds rate. The Federal Reserve has a committee that holds meetings where members discuss potential changes to the federal funds rate.
Generally, CD rates rise when the federal funds rate goes up, and CD rates drop when the federal funds rate goes down. Paying attention to upcoming Fed meetings can help you keep track of when the federal funds rate changes.
Economic Trends and Market Conditions
Short-term CD rates are higher than long-term CD rates because of the current economic environment. Usually, it's the opposite: long-term CDs tend to offer better rates because you're keeping money in an account for a longer period of time, which benefits the bank.
When the Fed starts cutting rates, CD rates overall will drop more significantly and CD rate trends may change.
Institution-Specific Offers
Banks and credit unions may offer special promotional CDs occasionally to appeal to customers. Currently, many promotional CDs tend to be shorter terms.
How to Maximize Returns with the Best 6-Month CD
To maximize returns on a 6-month CD, make sure to avoid early withdrawal penalties, which can reduce your total interest earnings. Experts recommend choosing a CD term based on your financial goals so you have a purpose assigned to your money and can minimize the chance of needing to make a last-minute withdrawal.
Reviewing the CD forecast for 2025 may also help with deciding when to lock in a CD rate and which type of account to open.
6-Month CD FAQs
The highest-paying 6-month CD offers 4.51% APY. This CD rate is offered by TotalBank. Vibrant Credit Union offers a CD special that pays up to 4.75% APY, but you'll need to meet strict requirements to qualify.
Banks typically offer long-term CDs with higher rates than 6-month terms because you're leaving money locked in an account for a longer period of time. However, in the current economic environment, 6-month CD rates are actually higher than long-term CDs. The Fed cut rates three times in 2024 and is expected to cut rates more in 2025. You'll see likely 6-month CD rates start declining as a result.
A 6-month CD may be a smart choice if you'd like to earn a competitive interest rate on a short-term, fixed-interest savings account. However, keep in mind that CDs do not allow additional deposits and have early withdrawal penalties if you have to take out money before the term ends.
The best 6-month CD rates can change at any time. The top rates for 6-month CD rates also change more frequently than longer terms because they are more susceptible to market fluctuations.
A 6-month CD is a low-risk bank account. It could be a good option for first-time investors if they are specifically looking for a safe investment. CDs offer low returns, though, so you might consider other investment options if you want to earn higher returns and take on more risk.
Why You Should Trust Us: Expert Advice on Choosing the Best 6-Month CD
To learn more about what makes a good CD and how to choose the best fit, Business Insider consulted four experts:
Here's what they had to say about CDs. (Some text may be lightly edited for clarity.)
How can someone figure out whether a bank is right for them?
Tania Brown, CFP® professional and vice president of coaching strategy at OfColor:
- It should be FDIC-insured
- It should fit the banking experience you want (A local bank to visit in person? An online bank to use through your phone? The ability to write checks?)
Sophia Acevedo, banking editor, Business Insider:
- Prioritize what matters to you, like whether you can waive a monthly service fee
- Pay attention to rates if you want a high-interest account (it should pay higher than average bank account rates)
How should you choose the right CD term length?
Roger Ma, CFP® professional and author of "Work Your Money, Not Your Life":
- Consider when you need the money
- Compare your timeline with current CD rates to find the best rates for the closest timeline
Mykail James, MBA, certified financial education instructor BoujieBudgets.com:
- Have a goal for the money in that CD
- Consider your timeline for the goal, and choose a term length that matches that timeline
How should you decide between a high-yield savings account, money market account, or CD?
Tania Brown, CFP® professional:
- Start off with how much money you want to put in
- Add the level of transactions you plan to have — CDs won't let you touch the money
Sophia Acevedo, Business Insider:
- A high-yield savings account or money market account are good options for an emergency fund or short-term savings goals
- Money market accounts are worth considering if you want more account accessibility (paper checks, ATM cards, or debit cards)
- CDs could be worthwhile if you don't need access to that money since they have a fixed interest rate for a specific term
Methodology: How We Selected the Best 6-Month CDs
Business Insider's personal finance team regularly monitors 160 banks and credit unions to find which ones offer the most competitive 6-month CD rates nationally.
Then, we reviewed each institution using our bank account methodology to find the most well-rounded banking options. For each account, we compared the minimum opening deposits, early withdrawal penalties, interest rates and miscellaneous features. We also considered the overall banking experience at each bank by assessing customer support availability, mobile app ratings, security, and ethics.
Each feature is scored from 0 to 5, although some features have a larger weight percentage than others. We add up these scores and calculate the weighted average to determine the account's total rating.
The highest rating possible is five stars. The lowest rating possible is one star.
