Discover® 12-Month Certificate of Deposit term
Annual Percentage Yield
4.05%
Minimum Deposit Requirement
$0
Learn More 
On Discover's Website
Member FDIC
Member FDIC
4.05%
$0
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
If you’re saving up for an upcoming trip or big purchase, opening a six-month certificate of deposit can be a great way to keep your money off limits and let it earn some interest.
We compared 136 six-month CDs on their interest rates, minimum deposit requirements, availability and customer experience. See our picks for the 10 best six-month CDs, as well as our tips on choosing a CD account.
Read More
Show Summary
Best 6-Month CD Rates
You’ll find the best rates on more commonly offered CD terms, like six-month CDs. Before opening a CD, make sure the account you choose is FDIC- or NCUA-insured.
Apy
3.50%
Minimum Deposit Requirement
$0
Apy
3.90%
Minimum Deposit Requirement
$0
Apy
4.25%
Minimum Deposit Requirement
$500
Apy
3.50%
Minimum Deposit Requirement
$0
Apy
4.10%
Minimum Deposit Requirement
None
Apy
3.90%
Minimum Deposit Requirement
$500
Apy
4.10%
Minimum Deposit Requirement
$1,000
Apy
3.75%
Minimum Deposit Requirement
$1,000
Service Credit Union Share Certificate
CD APY 6-month
3.25%
Minimum Deposit Requirement
$500
Terms
3 months to 5 years
3.25%
$500
3 months to 5 years
Editor's Take
Service Credit Union Share Certificate topped our list of best six-month CD rates thanks to its impressive 3.25% APY and minimum deposit requirement of $500.
Why We Like It
We like that this account has a relatively low minimum deposit requirement, so it’s a good choice for both new and established savers. Plus, it earns one of the highest APYs on our list.
What We Don’t Like
We dislike that dividends are compounded monthly instead of daily. Additionally, to become a member of Service Credit Union, you must qualify for membership, open a Primary Savings account and deposit $5 before opening a CD account.
Who It’s Best For
This account is an attractive option for active-duty military members, veterans and their families who want risk-free, predictable returns on their savings.
Pros & Cons
- Competitive dividend rates across terms
- Wide variety of term lengths
- Reasonable minimum balance requirement
- Membership is required
- Dividends compounded monthly
Details
There are various ways to qualify for membership, including those in active-duty military service and their family members. Anyone, however, can join by becoming a member of the American Consumer Council or Financial Fitness Association.
Early withdrawal penalties depend on your CD term and how much you withdraw. For accounts that automatically renew, you have a 10-day grace period after maturity to withdraw or add funds without penalty. Dividends are compounded and credited to your certificate account monthly.
| Service Credit Union Share Certificate Term | APY |
|---|---|
| 3 Months | 3.25% |
| 6 Months | 3.25% |
| 7 Months | 4.15% |
| 9 Months | 3.75% |
| 11 Months | 3.95% |
| 1 Year | 3.50% |
| 15 Months | 3.50% |
| 18 Months | 3.25% |
| 2 Years | 3.00% |
| 3 Years | 2.35% |
| 4 Years | 2.45% |
| 5 Years | 2.50% |
Capital One Certificates of Deposit
CD APY 6-month
3.50%
Rates and details as of 10/22/25.
Minimum Deposit Requirement
$0
Terms
6 Months to 5 Years
Learn More
On Bankrate.com's Website
3.50%
Rates and details as of 10/22/25.
$0
6 Months to 5 Years
Editor's Take
The Capital One Certificates of Deposit six-month CD earned a high score on our ranking thanks to its competitive APY and lack of minimum balance requirement.
Why We Like It
We like that this account offers a competitive yield of 3.50% APY and requires no minimum balance to open. Plus, you can decide when your CD account interest is paid out: end of term, monthly or annually.
What We Don’t Like
Although this Capital One Certificates of Deposit offers a competitive rate of 3.50% APY, if interest is your sole priority when opening an account, you’ll find higher rates offered by some of the other accounts on this list.
Who It’s Best For
This account is best suited for individuals who want to earn a high rate of return while avoiding minimum balance requirements, but who don’t want to commit to having their cash locked up for an extended period.
Pros & Cons
- No minimum deposit requirement
- Flexible interest payout options
- Backed by a reputable institution
- Other banks offer higher APYs
- Few branches compared to other national banks
- Strict early withdrawal penalty
Details
Interest on Capital One Certificates of Deposits compounds and gets credited to your account monthly. Upon your CD’s maturity, you have a 10-day grace period during which you can withdraw from your CD before it renews for another term. If you withdraw your principal balance before maturity, you’ll pay a penalty fee equal to six months of interest for CD accounts longer than 12 months. For CD accounts of 12 months or less, the penalty fee is three months of interest.
| Capital One Certificates of Deposit Term | APY |
|---|---|
| 6 Months | 3.50% |
| 9 Months | 3.50% |
| 1 Year | 3.85% |
| 18 Months | 3.70% |
| 2 Years | 3.50% |
| 30 Months | 3.50% |
| 3 Years | 3.50% |
| 4 Years | 3.50% |
| 5 Years | 3.50% |
Rates & details as of 10/22/2025.
Ally Bank Certificates of Deposit
CD APY 6-month
3.90%
Minimum Deposit Requirement
$0
Terms
3 Months to 5 Years
Learn More
Read Our Review
3.90%
$0
3 Months to 5 Years
Editor's Take
Ally Bank’s six-month CD earns a competitive yield of 3.00% APY and has no minimum deposit requirement. Plus, with the Ally 10-Day Best Rate Guarantee, you’ll get a complimentary rate increase if the APY goes up within 10 days of opening and funding your account. Ally also provides 24/7 banking support.
Why We Like It
We like that this account earns a competitive APY and has no minimum balance requirement that could hinder some savers. We also like that Ally offers an additional 0.05% APY when you renew your CD.
What We Don’t Like
If you withdraw funds from your six-month Ally Bank Certificates of Deposit before it matures, you’ll owe an early withdrawal penalty equal to 60 days’ interest.
Who It’s Best For
Ally Bank is best for those who prefer to do all their banking online and who want to take advantage of high rates while avoiding monthly fees and minimum balance requirements. Ally’s highly rated mobile app (4.7 stars on App Store and 4.4 stars on Google Play) offers digital savings tools, making managing your money easier.
Pros & Cons
- Competitive yield on most terms
- No minimum opening deposit requirement
- 10-day best rate guarantee
- Loyalty rate bump when you renew
- 24/7 banking support
- No physical branches
Details
Interest on Ally Bank Certificates of Deposits compounds daily and gets credited to your account monthly. With the Ally 10-Day Best Rate Guarantee, you’ll get a complimentary rate increase if APYs go up within 10 days of opening and funding your account. This guarantee will also apply when you renew an Ally Bank Certificates of Deposit.
If you withdraw funds early, the amount you’ll owe depends on your account’s term length.
- Less than three months: 30 days’ interest
- 3 months-24 months: 60 days’ interest
- 25 months-36 months: 90 days’ interest
- 37 months-48 months: 120 days’ interest
- 49 months or longer: 150 days’ interest
Ally Bank Certificates of Deposits have a 10-day grace period, during which you can close your account or change your term before the CD renews. If you renew, Ally adds a 0.05% APY loyalty reward on top of its current rate.
| Ally Bank Certificates of Deposit Term | APY |
|---|---|
| 3 Months | 3.00% |
| 6 Months | 3.90% |
| 9 Months | 3.90% |
| 11 Months | 3.55% |
| 1 Year | 3.85% |
| 18 Months | 3.65% |
| 3 Years | 3.50% |
| 5 Years | 3.50% |
Marcus by Goldman Sachs High-Yield Certificates of Deposit
CD APY 6-month
4.25%
Rates and details as of 9/17/25.
Minimum Deposit Requirement
$500
Terms
6 Months to 6 Years
Learn More
Read Forbes' Review
4.25%
Rates and details as of 9/17/25.
$500
6 Months to 6 Years
Editor's Take
Marcus by Goldman Sachs High-Yield Certificates of Deposit offers a wide variety of CD term lengths, all with competitive APYs and a relatively low minimum deposit requirement. The six-month Marcus by Goldman Sachs High-Yield Certificates of Deposit earns an impressive APY of 4.25%.
Why We Like It
We like that the Marcus six-month CD earns a high rate of 4.25% APY, can be opened with a minimum deposit of $500 and offers 24/7 phone support. Marcus by Goldman Sachs High-Yield Certificates of Deposit offers CDs ranging from six months to six years, including an 11-month no-penalty CD and a 20-month rate-bump CD. Marcus is a brand of Goldman Sachs Bank, one of the most well-established and largest banks in the U.S.
What We Don’t Like
While $500 is a relatively low minimum balance requirement, it could still hinder some savers. Many other accounts on our list have no minimum balance requirements. We also don’t like that if you withdraw funds from your CD before it matures, you’ll be charged 90 days’ interest.
Who It’s Best For
This account is best for individuals who prefer to bank with a well-known institution and want to take advantage of competitive savings rates for a short period of time. It’s also an appealing choice for individuals seeking 24/7 customer support.
Pros & Cons
- High yields on all terms
- Relatively low minimum deposit requirement
- 24/7 customer support
- 10-day CD rate guarantee
- Early withdrawal fees can eat into principal
Details
Marcus by Goldman Sachs High-Yield Certificates of Deposits boast impressive rates on all terms, and a $500 minimum deposit requirement makes these accounts reasonably accessible. One feature that sets Marcus by Goldman Sachs High-Yield Certificates of Deposits apart from most is the 10-day CD rate guarantee. According to this perk, as long as you deposit at least $500 into your CD within 10 days, you will receive the highest published APY offered during those days. That means that if you open a Marcus by Goldman Sachs High-Yield Certificates of Deposit with a 4.00% APY and fund the CD within 10 days—and that term’s APY increases to 4.10% APY within that period—you will receive the higher rate.
| Marcus by Goldman Sachs High-Yield Certificates of Deposit Term | APY |
|---|---|
| 6 Months | 4.25% |
| 9 Months | 4.15% |
| 11 Months | — |
| 1 Year | 4.10% |
| 14 Months | — |
| 18 Months | 4.00% |
| 20 Months | 3.90% |
| 2 Years | 3.95% |
| 3 Years | 3.90% |
| 4 Years | 3.85% |
| 5 Years | 3.90% |
| 6 Years | 3.90% |
Rates & details as of 09/17/2025.
Credit Human Share Certificates
CD APY 6-month
3.90%
Minimum Deposit Requirement
$500
Terms
3 months to 10 years
3.90%
$500
3 months to 10 years
Editor's Take
Credit Human Share Certificates’s six-month CD earns an APY of 3.90%, has a reasonable minimum balance requirement and can be managed with Credit Human Share Certificates’s highly rated mobile app.
Why We Like It
We like that Credit Human Share Certificates offers a wide lineup of CD accounts, all with fairly competitive rates. The six-month CD earns an APY of 3.90%.
What We Don’t Like
Becoming a member of Credit Human Share Certificates is easy, but we don’t like that you’re required to open a Share Savings account, which requires a minimum balance of $5.
Who It’s Best For
This account is ideal for individuals seeking a risk-free short-term savings option and those looking to open a savings account with a credit union.
Pros & Cons
- Competitive APYs
- Wide range of available terms
- Monthly compounding frequency
- Higher minimum deposit requirement
Details
Credit Human membership is available to individuals who fall into one of the following categories:
- Employee or member of one of Credit Human’s employer or organization partners
- Live, work, worship or attend school in Credit Human’s San Antonio or New Orleans service area
- Veteran, retiree, active-duty member or dependent of a member of the U.S. Armed Forces or National Guard
- Study at one of Credit Human’s trade school, college or university partners
- Related to or live with a Credit Human member
If none of the above apply to you, you can become a member by joining the American Consumer Council (ACC). Credit Human will cover your fee to join.
| CREDIT HUMAN SHARE CERTIFICATE TERM | APY |
|---|---|
| 3-5 Months | 3.41% |
| 6-11 Months | 3.90% |
| 12-17 Months | 3.95% |
| 18-23 Months | 3.95% |
| 24-35 Months | 3.90% |
| 36-59 Months | 3.80% |
| 60-83 Months | 3.90% |
| 84-119 Months | 3.90% |
| 120 Months | 3.90% |
Discover® Certificates of Deposit
CD APY 6-month
3.50%
Rates and details as of 11/4/25.
Minimum Deposit Requirement
$0
Terms
3 Months to 10 Years
Learn More
On Discover's Website
3.50%
Rates and details as of 11/4/25.
$0
3 Months to 10 Years
Editor's Take
The Discover six-month CD ranked on our list of the best six-month CD rates thanks to its APY of 3.50% and lack of minimum deposit requirement. Discover also offers 24/7 customer service.
Why We Like It
We like that no minimum deposit is required to open a Discover® Certificates of Deposit, and interest is compounded daily. Discover also offers a wide range of CD terms, from three months to 10 years—most of them offering fairly competitive rates.
What We Don’t Like
While 3.50% APY is a competitive rate, it’s the lowest on this list. Discover® Certificates of Deposit also charges hefty early withdrawal fees. For CDs less than one year, you’ll owe three months’ interest if you withdraw funds from your account before it matures.
Who It’s Best For
This account is best for individuals looking for a short-term savings account with no minimum deposit requirement and a solid rate. Because the early withdrawal penalty on Discover® Certificates of Deposits is relatively high, this account is best for individuals confident they won’t need access to their cash before the CD matures.
Pros & Cons
- Competitive APY on most terms
- No minimum balance requirement
- Interest compounded daily
- 24/7 customer support
- High early withdrawal penalties
- Higher yields may be available elsewhere
- No branches
Details
Interest on Discover® Certificates of Deposits compounds daily. Discover® Certificates of Deposit will send a notification 30 days before your CD matures. Once it matures, you’ll have a nine-day grace period during which you may make a deposit or withdrawal or change the CD’s term length. The early withdrawal penalty on Discover® Certificates of Deposits depends on term length, ranging from three months’ interest to 24 months’ interest.
| Discover® Certificates of Deposit Term | APY |
|---|---|
| 3 Months | 2.00% |
| 6 Months | 3.50% |
| 9 Months | 3.50% |
| 1 Year | 4.05% |
| 18 Months | 3.70% |
| 2 Years | 3.50% |
| 30 Months | 3.50% |
| 3 Years | 3.50% |
| 4 Years | 3.50% |
| 5 Years | 3.50% |
| 7 Years | 3.50% |
| 10 Years | 3.50% |
Rates & details as of 11/04/2025.
Barclays Certificates of Deposit
CD APY 6-month
4.10%
Rates and details as of 10/29/25.
Minimum Deposit Requirement
None
Terms
6 months to 5 years
Learn More
Barclays' Website
Member FDIC
Member FDIC
4.10%
Rates and details as of 10/29/25.
None
6 months to 5 years
Editor's Take
Barclays Certificates of Deposit‘s six-month CD earns a competitive yield and has no minimum deposit requirement.
Why We Like It
We like that this account offers a competitive yield of 4.10% APY and requires no minimum balance to open. We also like that interest compounds daily on Barclays Certificates of Deposits.
What We Don’t Like
While 4.10% APY is a competitive yield, it’s one of the lower rates on this list. Also, if you withdraw funds before your CD matures, you’ll owe an early withdrawal penalty equal to 90 days’ interest.
Who It’s Best For
For savers who want to avoid minimum balance requirements while maximizing their savings, Barclays is a solid option. Interest on Barclays Certificates of Deposits compounds daily, allowing you to earn slightly more than CDs that compound monthly.
Pros & Cons
- Competitive APYs
- No minimum deposit requirement
- Interest compounds daily
- Early withdrawal penalty equal to 90 or 180 days’ interest
Details
Interest compounds daily and is credited monthly on Barclays Certificates of Deposits. CD accounts with terms equal to or less than 24 months will owe an early withdrawal penalty equal to 90 days’ interest. Longer-term CDs will owe a penalty equal to 180 days’ interest. Barclays Certificates of Deposits automatically renew upon maturity following a 14-day grace period. During the grace period, account holders can add or withdraw funds, change CD terms or close the account.
| Barclays Certificates of Deposit Term | APY |
|---|---|
| 6 Months | 4.10% |
| 9 Months | 3.80% |
| 1 Year | 3.80% |
| 18 Months | 3.00% |
| 2 Years | 3.00% |
| 3 Years | 3.00% |
| 4 Years | 3.00% |
| 5 Years | 3.25% |
Rates & details as of 10/29/2025.
Bank5 Connect High-Yield Certificate of Deposit
CD APY 6-month
3.90%
Minimum Deposit Requirement
$500
Terms
3 months to 3 years
Learn More
On Bankrate.com's Website
3.90%
$500
3 months to 3 years
Editor's Take
Bank5 Connect High-Yield Certificate of Deposit’s six-month CD earns a competitive APY and can be opened with just $500. Plus, 100% of your deposit is insured, even past FDIC limits.
Why We Like It
We like that this account earns an impressive APY of 3.90% and can be opened with a relatively low minimum deposit requirement. Bank5 Connect High-Yield Certificate of Deposit offers Depositors Insurance Fund protection, which insures all deposits—even above the FDIC limit of $250,000 per account.
Bank5 Connect High-Yield Certificate of Deposit also offers video banking, which allows customers to speak face to face with a representative.
What We Don’t Like
We dislike that interest is compounded monthly instead of daily. Also, residents of Massachusetts or Rhode Island are not eligible to join. For Bank5 Connect High-Yield Certificate of Deposits with terms less than one year, there’s an early withdrawal penalty of three months’ interest.
Who It’s Best For
Since Bank5 Connect High-Yield Certificate of Deposit offers 100% deposit insurance, it’s an attractive choice for individuals investing large sums into a CD. There are no in-person locations, so it’s best for those who are comfortable with online banking.
Pros & Cons
- Additional insurance through DIF, on top of FDIC coverage
- Competitive interest rate
- Highly rated mobile app
- Video support offered
- Some competitors offer higher APYs
- Interest compounds monthly
- Doesn’t offer 24/7 customer service
Details
Bank5 Connect High-Yield Certificate of Deposit offers certificates of deposit with terms ranging from three months to three years. Bank5 Connect is an online division of BankFive, a Massachusetts-based community bank that has been serving customers since 1855.
Regardless of your balance, Bank5 Connect High-Yield Certificate of Deposit insures all of your deposits. It offers coverage through the Massachusetts Depositors Insurance Fund, with no limits in the event of a bank failure. DIC coverage is automatic and free, and there are no residency requirements.
If you withdraw your principal balance before the maturity date, you will pay an early withdrawal penalty equal to three months’ interest for CDs with terms less than one year. For CDs with terms of a year or longer, you will pay six months’ interest. Your CD will automatically renew at maturity, but you have a 10-day grace period to withdraw funds without being charged an early withdrawal penalty.
| Bank5 Connect High-Yield Certificate of Deposit Term | APY |
|---|---|
| 3 Months | 3.90% |
| 6 Months | 3.90% |
| 1 Year | 3.75% |
| 15 Months | 3.75% |
| 18 Months | 3.50% |
| 21 Months | 3.20% |
| 2 Years | 3.50% |
| 3 Years | 0.85% |
CommunityWide Federal Credit Union CW Certificate Account
CD APY 6-month
4.10%
Minimum Deposit Requirement
$1,000
Terms
6 Months to 5 Years
Learn More
On Bankrate.com's Website
4.10%
$1,000
6 Months to 5 Years
Editor's Take
CommunityWide Federal Credit Union’s six-month CD made our list of the best six-month CD rates for its generous 4.10% APY. The certificate requires a $1,000 minimum deposit. Unlike most CD accounts, CommunityWide FCU does not automatically renew CDs upon maturity.
Why We Like It
CommunityWide Federal’s six-month certificate offers one of the highest rates on this list: 4.10% APY. The credit union also offers rate matching, so if you find a higher rate somewhere else, you may be able to have the APY matched.
What We Don’t Like
We don’t like that CommunityWide Federal Credit Union CW Certificate Accounts require a relatively high minimum deposit of $1,000.
Who It’s Best For
This account is an appealing option for savers who want to maximize their interest earnings, and who are also looking to open a standard savings account. In order to become a CommunityWide FCU member, you’ll be required to open a regular savings account.
Pros & Cons
- Competitive dividend rates across terms
- Wide variety of terms
- No automatic account renewals
- Membership is required
- High minimum deposit requirement
- Requires a savings account to open a certificate account
- Dividends compound monthly
Details
CommunityWide Federal Credit Union CW Certificate Account provides a competitive 3.40% to 4.35% yield on its certificate accounts. Savers can choose from seven different terms: six months, 12 months, 18 months, 24 months, 36 months, 48 months and 60 months. The minimum deposit is a relatively high $1,000.
Unlike most other credit unions and banks, CommunityWide Federal Credit Union CW Certificate Account won’t automatically renew your certificate account upon maturity. Instead, you can choose to renew it for another term, withdraw your money or deposit the principal and interest into another account at CommunityWide or a different institution.
CommunityWide requires membership in the credit union to open a certificate account. Membership is open to U.S. residents who open a savings account with a minimum deposit of $5. If you don’t meet the employment or other eligibility requirements, you can donate $5 to one of several organizations to join the credit union. You must maintain a minimum balance of $5 in your savings account.
Dividends are compounded and credited to your certificate account monthly.
| CommunityWide Federal Credit Union CW Certificate Account Term | APY |
|---|---|
| 6 Months | 4.10% |
| 1 Year | 4.00% |
| 18 Months | 3.90% |
| 2 Years | 3.75% |
| 3 Years | 3.60% |
| 4 Years | 3.45% |
| 5 Years | 3.30% |
Fidelity Certificates of Deposit
CD APY 6-month
3.75%
Minimum Deposit Requirement
$1,000
Terms
3 months to 5 years
Learn More
On Bankrate.com's Website
3.75%
$1,000
3 months to 5 years
Editor's Take
Fidelity offers brokered CDs with terms usually ranging from three months to 10 years. These new-issue CDs offer competitive rates and can be opened with a minimum deposit of $1,000, though some CDs are fractional and can be opened with $100-increment minimums. Fidelity’s six-month brokered CD earns an APY of 3.75% and made our list of the best six-month CD rates.
Why We Like It
We like that Fidelity’s six-month CD earns a highly competitive rate of 3.75% APY.
What We Don’t Like
We don’t like that most of Fidelity’s new-issue CDs require a minimum deposit of $1,000. Many other CD accounts offer lower minimum deposit requirements, and some even have no deposit requirements. Also, because these are brokered CDs, they may sell for a lower price than what you paid for them.
Who It’s Best For
Fidelity Certificates of Deposits are ideal for individuals who prefer brokered CDs over traditional ones.
Pros & Cons
- Competitive interest
- Wide range of terms
- Ability to liquidate at any time
- Interest doesn’t compound
- Must sell CD on the market; may sell for a loss
- Relatively high minimum deposit requirement on new-issue CDs
Details
Fidelity Certificates of Deposits are brokered CDs that earn simple interest instead of compound interest. And Fidelity Certificates of Deposits do not automatically renew at maturity. Rather, Fidelity credits the principal CD balance and interest to your account at maturity. Account holders can enroll in Fidelity’s Auto Roll service to automatically reinvest CD funds into new CDs.
There’s no early withdrawal penalty for brokered CDs, but to get your money before your CD term ends, you must sell your CD on the secondary market. Given the economic conditions at the time, you could sell for less than you put in.
| Fidelity Certificates of Deposit Term | APY |
|---|---|
| 3 Months | 3.80% |
| 6 Months | 3.75% |
| 9 Months | 3.70% |
| 1 Year | 3.70% |
| 18 Months | 3.55% |
| 2 Years | 3.65% |
| 3 Years | 3.65% |
| 4 Years | 3.75% |
| 5 Years | 3.75% |
How To Choose a 6-Month CD
Choosing a six-month CD requires comparing several factors.
- APY: APY is important to consider when opening a CD. The higher the APY, the more you’ll earn over time. Online banks generally offer the highest rates.
- Safety: Before opening a CD, make sure the financial institution is insured by the FDIC or NCUA, which covers deposits up to $250,000. All CDs on our list are either FDIC- or NCUA-insured.
- Early withdrawal penalty: Most banks and credit unions charge an early withdrawal penalty if you take funds out of your CD before its maturity date. Generally, the longer your CD term, the higher the penalty will be.
How Much Interest Can I Earn With a 6-Month CD?
Although CD interest rates vary, you’ll almost always earn more by stashing your money in a CD than in a standard checking account. For example, placing $1,000 in a six-month CD at an interest rate of 4.60% would net you about $23 after the term expires. Use our CD calculator to determine how much you’d earn with different term lengths and deposit amounts.
How a 6-Month CD Can Fit Into a CD Ladder
You can use a six-month CD as one of the “rungs” in a CD ladder. To get started, you’ll spread your cash evenly between a set of different CDs, including a six-month CD that increases incrementally. When the shortest-term CD matures, you’ll reinvest it into a CD at the longest term, and so on. Doing so means that each of these longer-term CDs will mature at regular intervals and provide you with a portion of your savings.
If you’re choosing between a CD ladder or a single long-term CD, consider whether or not you’ll need access to your cash at all during the CD’s term. If so, a CD ladder could be a better fit. Also, consider savings rates. If they’re expected to go up, a CD ladder can allow you to take advantage of higher rates. On the other hand, if rates are expected to drop significantly over the next few years, you may be better off locking in a high rate with a single long-term CD.
Is Now a Good Time to Buy a 6-Month CD?
Currently, some of the best six-month CD rates are far greater than the national average. Locking in rates now, while they’re still high, is generally a good idea. It’s possible the Federal Reserve will cut rates later this year, in which case CD rates would likely fall.
6-Month CDs vs Other Saving Options
Sometimes, a CD isn’t the best fit for your financial goals. You may find that another savings option, like a high-yield savings account or money market account, is better suited to your needs.
High Yield Savings Accounts
If you’re looking for a savings account that earns a competitive rate but still lets you access your funds when you please, a high-yield savings account could be a good fit for you. Many of the best high-yield savings accounts offer APYs well above the national average savings rate of 0.40%, have no monthly maintenance fees and require little to no minimum deposit. Just keep in mind that while you can lock in rates with a CD, rates on high-yield savings accounts fluctuate.
Money Market Accounts
Typically, money market accounts come with a debit card or ATM card and/or check-writing capabilities that provide easier access to your money than CDs or even high-yield savings accounts. The best money market accounts offer competitive APYs and are sometimes described as a mix between a checking and savings account.
Cash Management Accounts
Cash management accounts combine features of checking, savings and sometimes brokerage accounts and are usually offered by non-bank financial institutions. Cash management accounts can help you streamline your finances and often earn higher-than-average APYs.
6-Month CDs vs Non-standard CDs
Jumbo CDs
While many standard CD accounts have low or no minimum deposit requirements, jumbo CDs require substantial opening deposits—often, at least $100,000. However, in exchange for these hefty deposits, jumbo CDs typically offer higher APYs. You’ll just have to commit to locking up a significant sum of money for several months or years.
No-Penalty CDs
If you’re hesitant to open a CD because you’re worried you may need access to your funds before the account matures, a no-penalty CD could be an option worth considering. Unlike standard CDs, you won’t be charged an early withdrawal penalty if you take funds out of your no-penalty CD before it matures.
IRA CDs
In addition to standard CDs, many banks also offer IRA CDs, which are CDs held within an IRA account. Investing in an IRA CD is a low-risk way to earn a guaranteed rate of return on your savings while also taking advantage of the tax benefits that come with an IRA.
Find The Best CD Rates Of 2025
Methodology
To create this list, Forbes Advisor first examined 275 financial institutions, including a mix of traditional brick-and-mortar banks, online banks and credit unions. From these institutions, 136 six-month CDs and share certificates were on offer.
We compared these accounts by analyzing each based on 11 data points within the categories of APY, minimums, compound interest schedule, customer experience, digital experience, available terms and overall availability. The following is the weighting assigned to each category:
- APY: 55%
- Minimum deposit: 10%
- Compound interest: 5%
- Available terms: 5%
- Availability: 5%
- App Store rating: 3.75%
- Google Play rating: 3.75%
- Online banking: 2.50%
- BBB grade: 3.75%
- Trustpilot rating: 3.75%
- Live chat: 2.50%
Banks We Monitor
These financial institutions were included in our research for the best CD rates: ableBanking, Affinity Federal Credit Union, Alliant Credit Union, Ally Bank, Amerant, America First Credit Union, American Express, Apple Federal Credit Union, Armed Forces Bank, Axos Bank, Banesco, Bank of America, Bank OZK, Bank5 Connect, BankPurely, BankUnited, Barclays, Bask Bank, BECU, FourLeaf Federal Credit Union, Blaze Credit Union, Blue Federal Credit Union, BMO, BMO Alto, Bread Financial, Cadence Bank, Capital One, CFG Bank, Charles Schwab Bank, Chase, Chevron Federal Credit Union, CIBC Bank, CIT Bank, Citibank, Citizens Access, Citizens Bank, Colorado Federal Savings Bank, Comerica, CommunityWide Federal Credit Union, Connexus Credit Union, Consumers Credit Union (IL), Consumers Credit Union (MI), Credit Human, Credit Union of Denver, Department of Commerce FCU, Digital Federal Credit Union (DCU), Discover, DollarSavingsDirect, Dow Credit Union, Edward Jones, EmigrantDirect, EverBank, Exchange Bank & Trust (ebt.bank), Fairwinds Credit Union, Fidelity, Financial Partners Credit Union, Financial Resources Federal Credit Union, First Citizens Bank, First Foundation Bank, First Horizon Bank, First Internet Bank, First National Bank of America, Georgia’s Own Credit Union, Golden 1 Credit Union, Greenwood Credit Union, Hancock Whitney, Hanscom Federal Credit Union, Heritage Bank, Hughes Federal Credit Union, Huntington Bank, Ideal Credit Union, iGObanking, IncredibleBank, KeyBank, Kinecta Federal Credit Union, La Capitol Federal Credit Union, Lafayette Federal Credit Union, Langley, LendingClub, Limelight Bank, Live Oak Bank, M&T Bank, MAC Federal Credit Union, MainStreet Bank (Virginia), Marcus by Goldman Sachs, Merchants Bank of Indiana, Merrick Bank, Morgan Stanley, MSU Federal Credit Union, My Banking Direct, My eBanc, MySavingsDirect, NASA Federal Credit Union, Navy Federal Credit Union, NBKC Bank, Newtek Bank, Northern Bank Direct, Northpointe Bank, Nuvision Federal Credit Union, Pacific National Bank, Paramount Bank, PenAir Credit Union, PenFed Credit Union, Pima Federal Credit Union, PNC Bank, Ponce Bank, Popular Direct, Presidential Bank, PSECU, Quontic, Quorum Federal Credit Union, Regions Bank, Rising Bank, Royal Credit Union, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Seattle Bank, Security Service Federal Credit Union, Service Credit Union, Southwestern National Bank, Spectrum Credit Union, State Bank of Texas, State Department Federal Credit Union, State Farm, Superior Choice Credit Union, Synchrony Bank, TAB Bank, TD Bank, Texas Bank, Texas Capital Bank, Third Federal Savings & Loan, TotalBank, Transportation Federal Credit Union, Truist, U.S. Bank, Union Bank & Trust, USAA, USAlliance Financial, Valley Bank, Vanguard, Vio Bank, Webster Bank, Wells Fargo, Western Alliance, Wings Credit Union, Zions Bank
Frequently Asked Questions (FAQs)
Do traditional banks, online banks or credit unions offer the best rates on 6-month CDs?
Online banks typically offer higher rates than traditional brick-and-mortar banks because they lack the overhead costs associated with maintaining physical branches. Offering higher rates is also an effective strategy for banks to attract new customers and compete for deposits. Credit unions typically offer better rates than traditional banks, but members must meet specific eligibility requirements. Currently, the best rate on six-month CDs, 4.00%, is offered by Northern Bank Direct.
Do any banks or credit unions offer promotional 6-month CDs?
Banks and credit unions often use promotional CDs as a way to attract deposits. These CDs offer higher-than-normal APYs and are typically available for a limited time only. You’ll generally find that promotional CDs have less common term lengths compared to standard CDs.
Promotional six-month CDs are rare, but you may find one if you search.
Do any banks or credit unions offer no-penalty 6-month CDs?
No-penalty CDs let you withdraw funds before your CD’s maturity date without penalty. Typically, no-penalty CDs have shorter term lengths, usually around one year.
No-penalty six-month CDs are not widely available, but you may be able to find one through an internet search.
What happens if I withdraw from my 6-month CD early?
You’ll be charged an early withdrawal penalty if you withdraw funds from your six-month CD before it matures. These penalties can be hefty, offsetting much or all of the interest you may have earned.
What are the tax implications of a 6-month CD?
Interest of at least $10 or more earned in a year on a CD is taxed as ordinary income by the IRS. The interest is taxed in the year it’s paid. If your CD is longer than one year, you’ll need to pay taxes on the CD interest each year it’s accrued.
