Meeting savings goals can be challenging. And having easy access to funds in a money market or savings account probably doesn’t help.

If you struggle to keep your hands off your savings, a nine-month CD may offer the perfect solution.

As with other CDs, there’s an early withdrawal penalty. That may be enough to keep you from touching your deposits before your maturity date.

With a nine-month CD, you’ll avoid tying up your funds for an extended period of time. What’s more, you’ll earn a higher rate of return than you would through most savings accounts or a CD with a shorter term. Calculate how much interest you could potentially earn when your CD matures.

The best nine-month CDs pay two times the national average of 0.75 percent APY, according to Bankrate’s most recent national survey of banks and thrifts.

Today’s top nationally available nine-month CD pays 1.51 percent APY. This may be a good place to invest for short-term financial obligations, like replacing a major home appliance.

The interest rates associated with short-term CDs aren’t as good as the ones for CDs that mature in a few years or more. To earn as much interest as possible, compare the best nine-month CD rates offered by institutions online.

Here are the top nationally available rates for nine-month CDs.

Best 9-month CD rates
Institution APY Minimum deposit
Veridian Credit Union 1.51% $1,000
Luana Savings Bank 1.40% $5,000 1.40% $10,000
VirtualBank 1.37% $10,000
Goldman Sachs Bank USA 1.35% $500

Top account details

  • Veridian Credit Union is headquartered in Waterloo, Iowa. Membership is open to anyone who registers for Dwolla, a digital payment system. The credit union earned four out of five stars on Bankrate’s latest Safe & Sound Ratings, which measures the financial health of banks and credit unions throughout the United States.
  • Luana Savings Bank is based in Luana, Iowa. Founded in August 1908, it’s now one of Iowa’s largest banks. It’s also a major consumer and agricultural lender. The bank earned five out of five stars from Safe & Sound.
  • was recently founded as the online division of TBK Bank, headquartered in Dallas. The bank offers CDs with term lengths ranging from three months to five years. TBK Bank earned four out of five stars from Safe & Sound.
  • VirtualBank is an online bank based in Miami. It’s a division of IBERIABANK, an FDIC-insured institution that earned four out of five stars from Safe & Sound.

    GS Bank was launched in 2016 when Goldman Sachs acquired GE Capital Bank. Besides certificates of deposit, the bank offers an online savings account. The FDIC-insured institution earned five out of five stars from Safe & Sound.

Protect your savings

Investing in CDs isn’t as risky as playing the stock market. As long as you choose a certificate of deposit that’s federally insured, you can be certain you’ll receive a specific amount of interest at the end of your term.

Look for accounts with savings protected by the Federal Deposit Insurance Corp. or the National Credit Union Association.

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