To find the best 6-month CD rates, savers need to answer two questions:

  • How much yield can I reasonably expect to earn?
  • What direction are interest rates headed?

In general, CD yields are based on interest rates set by the Federal Reserve. And those interest rates are on the rise, which means both short- and long-term CD rates have been slowly inching upward.

Here are the top nationally available 6-month CD rates. Compare these offers, then calculate how much interest you would earn when your CD matures.

Top nationally available 6-month CD rates
Institution APY Minimum to earn APY
Interior Federal Credit Union 2.78% $500
Advancial Federal Credit Union 2.72% $25,000
My eBanc 2.53% $5,000
VirtualBank 2.50% $10,000
Popular Direct 2.49% $10,000

Today’s top nationally available 6-month CDs pay 2.78 percent APY. They could be a great place to invest for short-term financial obligations, like a wedding or family vacation.

Finding the best 6-month CD rates

Rates may be creeping up, but they still remain depressed after they plummeted during the last recession. That’s why it’s important to shop around for the best CD rates.

The lower the CD term length, the less interest you can expect to earn. To find the best 6-month CD rates, evaluate offers from online banks and credit unions. Try to avoid accounts with high fees and minimum deposit requirements.

Top account details

  • 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. In the latest review of its financial health it earned four out of five stars.
  • Advancial is a federal credit union based in Dallas. Membership is open to anyone who joins Connex, a professional network. The credit union earned four out of five stars in the latest review of its financial health.
  • My eBanc is an online division of BAC Florida Bank, an institution based Coral Gables. In Bankrate’s latest review of its financial health, BAC Florida Bank earned four out of five stars.
  • VirtualBank operates as an online division of IBERIABANK, an FDIC-insured institution based in Lafayette, Louisiana. IBERIABANK earned four out of five stars in Bankrate’s latest review of its financial health.
  • Popular Direct is an online division of Popular Bank, which was formerly known as Banco Popular North America or Popular Community Bank, a subsidiary of Popular Inc.

Maximize the power of compound interest

Anyone struggling to save money could benefit from having a 6-month CD. Because you could face an early withdrawal penalty, you may be less tempted to tap into your savings prematurely.

In addition to comparing rates, pay attention to how frequently interest compounds. You’ll end up with a higher yield if you choose a bank that compounds interest daily versus one where interest compounds on a quarterly basis.