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
Luther Burbank Savings 2.83% $1,000
Popular Direct 2.80% $10,000
Kinecta Federal Credit Union 2.75% $1,000
Limelight Bank 2.71% $1,000
M.Y. Safra Bank 2.70% $1,000

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 2.83 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

  • Luther Burbank Savings is based in Santa Rosa, California. Its name comes from a local scientist who lived through the second half of the 19th century and the early 1900s. The bank earned five out of five stars in the latest review of its financial health.
  • Popular Direct is a subsidiary of Popular Inc., a financial services firm serving the United States, Puerto Rico and the Caribbean. Popular Direct accounts are opened through Popular Bank, a federally insured institution that earned three out of five stars in Bankrate’s latest review of its financial health.
  • Kinecta Federal Credit Union was founded in 1940 and is based in Manhattan Beach, California. Membership is open to anyone who donates $10 to the Consumers Cooperative Society of Santa Monica. The credit union earned four out of five stars in the latest review of its financial health.
  • Limelight Bank is an online bank headquartered in Provo, Utah. It prides itself on being eco-friendly and uses deposits from its customers to make loans for solar energy projects. Deposits are federally insured through Capital Community Bank, which earned five out of five stars in Bankrate’s latest review of its financial health.
  • M.Y. Safra Bank is based in New York City. Initially established as T. Rowe Price Savings Bank, it changed its name and moved from Baltimore, Maryland in 2013. It earned three out of five stars in the latest review of its financial health.

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.