Meeting savings goals can be challenging. And having easy access to funds in a money market or savings account probably doesn’t help.

If you struggle to keep your hands off your savings, a 9-month CD may offer the perfect solution.

As with other CDs, there’s an early withdrawal penalty. That may be enough to keep you from touching your deposits before your maturity date.

With a 9-month CD, you’ll avoid tying up your funds for an extended period of time. What’s more, you’ll earn a higher rate of return than you would through most savings accounts or a CD with a shorter term. Calculate how much interest you could potentially earn when your CD matures.

Here are the top nationally available rates for 9-month CDs.

Top nationally available 9-month CD rates
Institution APY Minimum deposit
Andrews Federal Credit Union 2.75% $1,000
Montgomery County EFCU 2.53% $1,000
CD Bank 2.45% $10,000
TIAA Bank 2.20% $5,000
VirtualBank 2.18% $10,000

Today’s top nationally available 9-month CDs pay 2.75 percent APY. This may be a good place to invest for short-term financial obligations, like replacing a major home appliance.

The interest rates associated with short-term CDs aren’t as good as the ones for CDs that mature in a few years or more. To earn as much interest as possible, compare the best 9-month CD rates offered by institutions online.

Check All CD Rates

Top account details

  • Andrews Federal Credit Union is based in Suitland, Maryland. Membership is open to savers nationwide through the American Consumer Council. The credit union earned four out of five stars in the latest review of its financial health.
  • Based in Germantown, Maryland, Montgomery County Employees Federal Credit Union was founded in 1968 to serve county government employees. Membership is open to anyone who joins The Arc Montgomery County for a $35 donation.
  • 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 the latest review of its financial health.
  • TIAA Bank is an online division of TIAA, FSB, a company providing banking and lending products and services that’s based in Jacksonville, Florida. TIAA, FSB earned three out of five stars in Bankrate’s latest review of its financial health.
  • 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.

Protect your savings

Investing in CDs isn’t as risky as playing the stock market. As long as you choose a certificate of deposit that’s federally insured, you can be certain you’ll receive a specific amount of interest at the end of your term.

Look for accounts with savings protected by the Federal Deposit Insurance Corp. or the National Credit Union Association.