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.

The best 9-month CD Rates for June 2019

  • NASA Federal Credit Union: 2.60% APY; $10,000 minimum deposit to open
  • TAB Bank: 2.50% APY; $1,000 minimum deposit to open
  • TIAA Bank: 2.50% APY; $5,000 minimum deposit to open
  • American Bank: 2.45% APY; $500 minimum deposit to open
  • VirtualBank: 2.45% APY; $10,000 minimum deposit to open
  • CD Bank: 2.45% APY; $10,000 minimum deposit to open

Today’s top nationally available 9-month CDs pay 2.60 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

Best 9-month CD rates: bank details

1. NASA Federal Credit Union: The world’s largest credit union is based in Vienna, Virginia. It was founded in 1933 and today serves more than 8.4 million members. It earned five out of five stars in the latest review of its financial health.

2. TAB Bank: Tab Bank offers financial services to businesses in the transportation industry, was founded in 1998. Tab Bank, also known as Transportation Alliance Bank, is based in Ogden, Utah. It earned earned five out of five stars in the latest review of its financial health.

3. TIAA Bank: 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.

4. American Bank: The bank was founded in 1997 and is headquartered in Allentown, Pennsylvania. In the latest review of its financial health, American Bank earned five out of five stars.

5. 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.

6. CD Bank: 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.

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.

To recap, see below the best 9-month CD rates

Institution APY Minimum deposit
NASA Federal Credit Union 2.60% $10,000
TAB Bank 2.50% $1,000
TIAA Bank 2.50% $5,000
American Bank 2.45% $500
VirtualBank 2.45% $10,000
CD Bank 2.45% $10,000