Deciding where to stick your savings is tricky.

Savings and money market accounts are highly liquid but usually offer a low rate of return.

Long-term CDs offer better rates. But unless you’re willing to pay a premium for withdrawing your funds early, they’ll be locked in for years. During a period when rates are rising, that could put you at a disadvantage.

An 18-month CD offers the best of both worlds: a higher yield than a standard savings account and a low level of commitment. Here are Bankrate’s picks for the top nationally available 18-month CD rates:

Top nationally available 18-month CD rates
Institution APY Minimum deposit
State Bank of Texas 2.70% $25,000
Interior Federal Credit Union 2.68% $500
Communitywide Federal Credit Union 2.65% $2,000
Citizens Access 2.60% $5,000
CD Bank 2.60% $10,000

The best 18-month CD rates pay more than 1.5 times the national average of 1.77 percent APY, according to Bankrate’s most recent national survey of banks and thrifts. A basis point is equal to one-hundredth of a percentage point.

Today’s top nationally available 18-month CDs pay 2.7 percent APY. This may be a good place to invest money for short-term financial obligations, like saving up for a down payment on a house.

Finding the best 18-month CD rates

Finding the best 18-month CD may take some time. Besides the interest rate, you’ll need to compare early withdrawal penalties and minimum deposit requirements. Find out whether you’ll be responsible for any fees.

Here are the top nationally available 18-month CD rates. Compare these offers, then calculate how much interest you would earn when your CD matures.

Top account details

  • State Bank of Texas is a family-owned and operated bank founded in 1987. Its CDs are available nationwide and are FDIC-insured. In the latest review of the bank’s financial health, it earned five out of five stars.
  • Interior Federal Credit Union was founded in 1935. It’s based in Washington D.C. Membership is open to anyone who joins the New Mexico Wildlife Federation. It earned four out of five stars in the latest review of its financial health.
  • Communitywide Federal Credit Union is based in South Bend, Indiana. It was established in 1967 and earned five out of five stars in the latest review of its financial health.
  • Citizens Access is a new online division of Citizens Bank. It’s headquartered in Providence, Rhode Island and offers competitive CD rates and a savings account. Citizens Bank earned four out of five stars in the latest review of its financial health.
  • CD Bank is an online division of TBK Bank. It launched in May 2017 and is based in Dallas, Texas. TBK Bank earned four out of five stars in Bankrate’s latest review of its financial health.

Understand the account terms

An 18-month CD is a low-risk investment. But before you purchase one, it’s important to know what you’re getting yourself into.

Ask if you’ll have to maintain a certain balance to earn the annual percentage yield. While you’re at it, find out how often you’ll receive the interest you’re earning from your bank or credit union. That way, it’ll be easier to hit your savings target or another financial goal.