Today's best 6-month rate on a nationwide certificate of deposit (CD) is 5.55% APY, available from INOVA Federal Credit Union. That's more than three times what you can earn with a CD paying the FDIC's national average rate of 1.81% for 6 months, and is one of more than 15 leading offers in our ranking below.
If you deposited $20,000 at a high rate of 5.50%, for example, you'd earn about $542 after 6 months. Compare that to a rate of 1.50%, which would earn only about $150.
To help you always find the highest 6-month CD returns, we've been reviewing rates from hundreds of nationally available banks and credit unions every weekday since 2019. Our resulting daily ranking of the best-paying options includes CDs with terms of 5-9 months, and in addition to yields, we lay out the details of minimum deposits and early withdrawal penalties for every ranked CD.
Below are the top CD rates available from our partners, followed by the best CD rates that we've found from our research that are available to U.S. customers everywhere. If you're interested in another CD term, you may also like reviewing our overall ranking of the best nationwide CD rates.
IN THE NEWS
The Fed held rates steady for a seventh consecutive time at its June 12 meeting. The federal funds rate is at its highest level since 2001, but Fed officials are projecting one or possibly two rate cuts before the end of the year. CD yields closely follow the fed funds rate. Back in October, CD rates reached peaks not seen in more than 20 years, but once the Fed starts cutting rates, CD rates will fall.
You can find our ranking of the highest CD rates with terms of 5-9 months below. In cases where more than one institution pays the same annual percentage yield, we've prioritized CDs by the shortest term, then the CD requiring a smaller minimum deposit, and if still a tie, alphabetically by institution name.
Best 6-Month CD Rates
- INOVA Federal Credit Union - 5.55% APY
- TotalDirectBank - 5.51% APY
- My Banking Direct - 5.50% APY
- DR Bank - 5.50% APY
- Vibrant Credit Union - 5.50% APY*
- Greenwood Credit Union - 5.50% APY
- Merrick Bank - 5.40% APY
- Bask Bank - 5.35% APY
- Newtek Bank - 5.35% APY
- Popular Direct - 5.35% APY
- NASA Federal Credit Union - 5.35% APY
- Climate First Bank - 5.34% APY
- Prime Alliance Bank - 5.30% APY
- CommunityWide Federal Credit Union - 5.30% APY
- ableBanking - 5.30% APY
- Beal Bank - 5.30% APY
- Forbright Bank - 5.30% APY
Looking for a wider selection of CDs? See our picks for the best CD rates to see terms ranging from three months to 10 years.
Why You Should Trust Us
Googlawi collects and analyzes CD rates from over 200 banks to identify the best deals available. We use this data to rank each CD and bank to provide unbiased, comprehensive information to ensure our readers make the right decision for their needs. Googlawi launched in 1999 and has been helping readers find the best 6-month CDs since 2020, when the top-paying CD was only 3.10%, from Keesler Federal Credit Union.
Detailed information on these top-paying, nationally available 6-month CDs is provided below, including specifics about minimum deposits and early withdrawal penalties. Information is also provided on how to easily join the credit union for credit union CDs.
INOVA Federal Credit Union - 5.55% APY
- Term (months): 5
- Minimum deposit: $200
- Early withdrawal penalty: 3 months of interest
- Overview: Anyone can join INOVA with a $5 donation to the nonprofit Tru Direction or Elkhart River Restoration. INOVA was established in 1942 to serve employees of Miles Laboratory in Elkhart, Indiana.
TotalDirectBank - 5.51% APY
- Term (months): 6
- Minimum deposit: $25,000
- Early withdrawal penalty: 1 month of interest
- About: TotalDirectBank is an online-only operation of City National Bank of Florida, established in Miami in 1970.
My Banking Direct - 5.50% APY
- Term (months): 5
- Minimum deposit: $2,500
- Early withdrawal penalty: 1 month of interest
- About: My Banking Direct is an internet-only division of New York Community Bank, which was founded in 1859 and operates more than 200 branches in five states.
DR Bank - 5.50% APY
- Term (months): 6
- Minimum deposit: $500
- Early withdrawal penalty: 6 months of interest
- Overview: DR Bank was founded in 2006 in Connecticut, where it still operates two branches. Accounts are available nationally through digital banking.
Vibrant Credit Union - 5.50% APY*
- Term (months): 9
- Minimum deposit: $5
- Early withdrawal penalty: All earned interest
- Overview: Anyone can join Vibrant Credit Union through membership in the Illinois Consumer Council and by maintaining a balance of $5 in a savings account. Headquartered in Moline, Illinois, Vibrant dates back to 1935.
*Account must be funded with new money to the bank.
Greenwood Credit Union - 5.50% APY
- Term (months): 9
- Minimum deposit: $1,000
- Early withdrawal penalty: 6 months of interest
- Overview: Anyone can join Greenwood by simply keeping $5 or more in a savings account. Headquartered in Warwick, Rhode Island, Greenwood dates back to 1948.
Merrick Bank - 5.40% APY
- Term (months): 6
- Minimum deposit: $25,000
- Early withdrawal penalty: 3 months of interest
- Overview: Primarily a credit card issuer and consumer finance provider, Merrick Bank offers online-only certificates of deposit.
Bask Bank - 5.35% APY
- Term (months): 6
- Minimum deposit: $1,000
- Early withdrawal penalty: 3 months of interest
- Overview: Bask Bank is a division of FDIC-insured Texas Capital Bank, headquartered in Dallas. As an online-only bank, Bask has no physical branches.
Newtek Bank - 5.35% APY
- Term (months): 6
- Minimum deposit: $2,500
- Early withdrawal penalty: 3 months of interest
- About: Newtek Bank is a subsidiary of NewtekOne (NASDAQ: NEWT), a financial company that dates back to 2000. Newtek Bank is headquartered in Miami.
Popular Direct - 5.35% APY
- Term (months): 6
- Minimum deposit: $10,000
- Early withdrawal penalty: 4 months of interest
- Overview: Popular Direct is the online-only arm of Popular Bank, the U.S. banking subsidiary of Popular Inc., which was founded in 1893 and serves banking customers in the U.S., Puerto Rico, and the Caribbean. It is headquartered in New York.
NASA Federal Credit Union - 5.35% APY
- Term (months): 9
- Minimum deposit: $10,000
- Early withdrawal penalty: All earned interest up to 6 months
- Overview: Anyone can join NASA FCU by signing up for a free membership in the National Space Society and holding $5 or more in a savings account. NASA FCU is headquartered in Upper Marlboro, Maryland, and has a history that dates back to 1949.
Climate First Bank - 5.34% APY
- Term (months): 6 months
- Minimum deposit: $500
- Early withdrawal penalty: None
- Overview: Climate First Bank was established in 2021, has three locations in Florida, and offers online banking.
Prime Alliance Bank - 5.30% APY
- Term (months): 6
- Minimum deposit: $500
- Early withdrawal penalty: 1 month of interest
- Overview: Established in 2004, Prime Alliance operates one branch in metropolitan Salt Lake City, while also offering deposit products online to customers throughout the U.S.
CommunityWide Federal Credit Union - 5.30% APY
- Term (months): 6
- Minimum deposit: $1,000
- Early withdrawal penalty: Complex formula; refer to disclosures and exercise caution.
- Overview: Anyone can join CommunityWide by donating $15 to the credit union's local chapter of the Marine Corps, as well as keeping $5 or more in a savings account. CommunityWide was founded in 1967, and now operates in Michigan and Indiana.
ableBanking - 5.30% APY
- Term (months): 6
- Minimum deposit: $5,000
- Early withdrawal penalty: 3 months of interest
- Overview: This is an online division of Northeast Bank, which was established in 1872 and headquartered in Portland, Maine.
Beal Bank - 5.30% APY
- Term (months): 6
- Minimum deposit: $25,000
- Early withdrawal penalty: The greater of 1% of the amount withdrawn or 50% of the interest that would have been earned on the amount withdrawn
- Overview: Online account opening for both Beal Bank and Beal Bank USA is handled through Better by Beal, and the same rate and term can be obtained with either bank. Beal Bank was founded in 1988 and is headquartered in Plano, Texas. Beal Bank USA, formerly Beal Bank Nevada, dates back to 2004 and is headquartered in Las Vegas.
Forbright Bank - 5.30% APY
- Term (months): 9
- Minimum deposit: $1,000
- Early withdrawal penalty: 3 months of interest
- Overview: Formerly Congressional Bank, an FDIC member since 2003, Forbright Bank is the result of a 2022 rebranding. It operates four physical branches in Maryland and Virginia, as well as serves nationwide customers online.