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.

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:

The best 18-month CD rates for June 2019:

  • Limelight Bank: 2.88% APY; $1,000 minimum deposit
  • First Internet Bank: 2.84% APY; $1,000 minimum deposit
  • M.Y. Safra Bank: 2.80% APY; $750 minimum deposit
  • Pacific National Bank: 2.80% APY; $1,000 minimum deposit
  • Live Oak Bank: 2.80% APY; $2,500 minimum deposit

Today’s top nationally available 18-month CDs pay 2.88 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.

Best 18-month CD details

Limelight Bank: 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 review of its financial health.

First Internet Bank: Based in Fishers, Indiana, First Internet Bank was founded in 1999 and serves customers across the country. It earned four out of five stars in the latest review of its financial health.

M.Y. Safra Bank: The 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 stars in the latest review of its financial health.

Pacific National Bank: The bank is headquartered in Miami, Florida. It’s a former subsidiary of Banco Del Pacifico Ecuador. It earned five out of five stars in the latest review of its financial health.

Live Oak Bank: Established in 2008, Live Oak Bank is a federally-insured financial institution. Supporting small business owners is part of its mission statement. It earned five 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.

To recap, see below the best 1-year CD rates

Top nationally available 18-month CD rates
Institution APY Minimum deposit
Limelight Bank 2.88% $1,000
First Internet Bank 2.84% $1,000
M.Y. Safra Bank 2.80% $750
Pacific National Bank 2.80% $1,000
Live Oak Bank 2.80% $2,500