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. Interest rates overall are beginning to stall, which means it’s best to stay short instead of choosing long-term CDs.

The best 6-month CD Rates for July 2019

  • Banesco USA: 2.60% APY; $1,500 minimum deposit to open
  • My eBanc: 2.60% APY; $5,000 minimum deposit to open
  • EmigrantDirect.com: 2.40% APY; $1,000 minimum deposit to open
  • ableBanking: 2.35% APY; $1,000 minimum deposit to open
  • Limelight Bank: 2.35% APY; $1,000 minimum deposit to open

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

Today’s top nationally available 6-month CDs pay 2.60 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 are trending downward. But if you’re looking for a short-term CD, it’s best to shop around for the best 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.

Best 6-month CD details

Banesco USA: The FDIC-insured bank is based in Coral Gables, Florida. In Bankrate’s latest review of its financial health, Banesco USA earned four out of five stars.

My eBanc: 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.

EmigrantDirect.com: Is another online division of Emigrant Bank, a New York-based bank that has been around for more than 160 years. Emigrant Bank earned five out of five stars in Bankrate’s latest review of its financial health.

ableBanking is a division of Northeast Bank. Founded in 2012, the online bank is headquartered in Lewiston, Maine. Its parent company earned five out of five stars in the latest review of its financial health. Whenever a customer opens an account for the first time, ableBanking makes a $25 donation to their favorite 501(c)(3) charity.

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 review of its financial health.

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.

To recap, see below the best 6-month CD rates

Institution APY Minimum to earn APY
Banesco USA 2.60% $1,500
My eBanc 2.50% $5,000
EmigrantDirect.com 2.40% $1,000
ableBanking 2.35% $1,000
Limelight Bank 2.35% $1,000