16 Best 6-Month CD Rates for January 2025
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ALSO CONSIDER: Best online savings accounts || Best checking accounts || Best high-interest accounts
Six-month CD rates can play a role in boosting your short-term savings, especially in some saving strategies such as CD ladders. Here's a list of our picks.
Strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.
More than 100 financial institutions surveyed by our team of experts.
More than 50 data points considered for each bank and credit union to be eligible for our lists. For this CD list, three data points were considered per institution.
Nerdy Tip
The Fed lowered its benchmark rate multiple times in the second half of 2024. As a result, banks and credit unions have started lowering CD rates. With a CD, you can lock in high rates while they’re still around.
Best 6-Month CD Rates
| Bank/institution | NerdWallet rating | Minimum deposit | APY | Learn more |
|---|---|---|---|---|
2.6/5 | $1,000 Member FDIC | APY 4.45% | ||
4.2/5 | $10,000 Member FDIC | APY 4.61% | ||
4.0/5 | $500 Member FDIC | APY 4.30% | ||
4.0/5 | $500 Member FDIC | APY 4.25% | ||
5.0/5 | $0 Deposits are FDIC Insured | APY 4.30% | ||
3.5/5 | $500 Federally insured by NCUA | APY 4.50% | ||
5.0/5 | $1,000 Federally insured by NCUA | APY 4.50% | ||
5.0/5 | $1,000 Member FDIC | APY 4.35% | ||
3.1/5 | $500 Member FDIC | APY 4.50% | ||
4.4/5 | $1,500 Member FDIC | APY 4.50% | ||
4.6/5 | $0 Member FDIC | APY 4.25% | ||
5.0/5 | $0 Member FDIC | APY 4.05% | ||
2.6/5 | $1,000 Member FDIC | APY 4.51% | ||
3.9/5 | $500 | APY 4.55% | ||
4.4/5 | $2,500 Member FDIC | APY 4.25% | ||
5.0/5 | $500 Member FDIC | APY 4.10% |
Minimum deposit
$1,000
Member FDIC
APY
4.45%
Minimum deposit
$500
Member FDIC
APY
4.30%
Minimum deposit
$500
Member FDIC
APY
4.25%
Minimum deposit
$0
Deposits are FDIC Insured
APY
4.30%
Minimum deposit
$500
Federally insured by NCUA
APY
4.50%
Minimum deposit
$1,000
Federally insured by NCUA
APY
4.50%
Minimum deposit
$1,000
Member FDIC
APY
4.35%
Minimum deposit
$500
Member FDIC
APY
4.50%
Minimum deposit
$1,500
Member FDIC
APY
4.50%
Minimum deposit
$0
Member FDIC
APY
4.25%
Minimum deposit
$0
Member FDIC
APY
4.05%
Minimum deposit
$1,000
Member FDIC
APY
4.51%
Minimum deposit
$500
APY
4.55%
Minimum deposit
$2,500
Member FDIC
APY
4.25%
Minimum deposit
$500
Member FDIC
APY
4.10%
Want to compare more options? Here are our other top picks:
» Want to see more options? Check out our list of the best CD rates overall
Best 6-month CD rates for January 2025
Bread Savings: 4.50% APY, $1,500 minimum deposit.
Popular Direct: 4.61% APY, $10,000 minimum deposit.
Customers Bank: 4.55% APY, $500 minimum deposit.
CIBC U.S.: 4.51% APY, $1,000 minimum deposit.
NASA Federal Credit Union: 4.50% APY, $1,000 minimum deposit.
Bank5 Connect: 4.50% APY, $500 minimum deposit.
Service Credit Union: 4.50% APY, $500 minimum deposit.
Bask Bank: 4.45% APY, $1,000 minimum deposit.
First Internet Bank: 4.35% APY, $1,000 minimum deposit.
BMO Alto: 4.30% APY, no minimum deposit.
Vio Bank: 4.30% APY, $500 minimum deposit.
E*TRADE: 4.25% APY, no minimum deposit.
Newtek Bank: 4.25% APY, $2,500 minimum deposit.
Quontic Bank: 4.25% APY, $500 minimum deposit.
Marcus by Goldman Sachs: 4.10% APY, $500 minimum deposit.
Ally Bank: 4.05% APY, no minimum deposit.
6-month CD trends
NerdWallet picks’ average:
4.39% APY
National average:
1.65%
No-penalty CDs offer more freedom
When you withdraw your money from a CD before the term expires, you generally pay a penalty of at least several months’ of interest earned.
Some providers, however, allow you to withdraw your money before the term expires, with no penalty. Keep in mind that rates may be a little lower for these no-penalty CDs.
The following banks offer no-penalty CDs (click each link to read the full review):
Ally Bank® (Member FDIC).
See CD rates by term and type
Compare the best rates for various CD terms and types:
How do CDs work?
Learn more about choosing CDs, understanding CD rates, and opening and closing CDs.
Choosing CDs:
- See CD rates by bank
Here’s a quick list of CD rates at traditional and online banks and a brokerage:
Last updated on December 20, 2024
Methodology
On a monthly basis, we compare rates at over 40 financial institutions, pulled from our full list, that we’ve seen to be consistently competitive. On a quarterly basis, we analyzed our full list, excluding banks that offered brokered CDs, since those accounts work differently from standard bank CDs. Higher rates might be available elsewhere.
We took a close look at over 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Carver Federal Savings Bank, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Delta Community Credit Union, Discover® Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First Internet Bank, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Forbright Bank, Global Credit Union, GO2bank, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, Laurel Road Bank, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo, Western Alliance Bank and Zynlo Bank.
NerdWallet's Best 6-Month CD Rates for January 2025
- Bask Bank CD: 4.45% APY, $1,000 Minimum deposit
- Popular Direct CD: 4.61% APY, $10,000 Minimum deposit
- Vio Bank CD: 4.30% APY, $500 Minimum deposit
- Quontic Bank CD: 4.25% APY, $500 Minimum deposit
- BMO Alto Certificate of Deposit: 4.30% APY, $0 Minimum deposit
- Service Credit Union Share Certificate: 4.50% APY, $500 Minimum deposit
- NASA Federal Credit Union Share Certificate: 4.50% APY, $1,000 Minimum deposit
- First Internet Bank CD: 4.35% APY, $1,000 Minimum deposit
- Bank5 Connect High-Yield CD: 4.50% APY, $500 Minimum deposit
- Bread Savings™️ CD: 4.50% APY, $1,500 Minimum deposit
- E*TRADE CD: 4.25% APY, $0 Minimum deposit
- Ally Bank High Yield CD: 4.05% APY, $0 Minimum deposit
- CIBC Agility™ Online CD: 4.51% APY, $1,000 Minimum deposit
- Customers Bank CD: 4.55% APY, $500 Minimum deposit
- Newtek Bank CD: 4.25% APY, $2,500 Minimum deposit
- Marcus by Goldman Sachs High-Yield CD: 4.10% APY, $500 Minimum deposit
Frequently asked questions
- What is a CD?
A CD, or certificate of deposit, is a type of savings account that keeps money locked up for a set period or term, generally three months to five years. The longer the CD term, the higher the rate tends to be. See this month's best six-month CD rates.
- What CD term length should I choose?
It depends on your savings goals and how sure you are that you won't need your funds before the CD term expires. Having to pay an early withdrawal penalty, generally up to one year's worth of interest, can be a blow to your savings. Common CD terms range from three months to five years; if you want to play it safe, go for a shorter CD term or a no-penalty CD.
- What is a no-penalty CD?
A no-penalty CD is a type of CD that doesn’t have a penalty for withdrawing money before the term ends. It can be appealing if you want the traditionally higher yield of a CD, compared to regular savings accounts, and think you might need the money sooner than planned. See the best no-penalty CD rates.
- What's better: CDs or high-yield savings accounts?
It depends on what's more important to you: rates or access to your money. The current CD rates tend to be higher than the best savings account rates, but you sacrifice access to money in CDs. If that doesn't work for you, check out our list of best online savings accounts.
- When should I get a CD?
You should only get a CD if you know you won’t need those funds during its term. Pulling money out of a CD before its expiration date will likely result in an early withdrawal fee, which is typically a percentage of the interest earned.
» Thinking of a longer term for higher yields? Check out the best three-year CD rates
- How do CD rates work?
CD rates are quoted as an annual percentage yield, or APY, which is how much the account earns in one year including compound interest. Banks generally compound interest monthly or daily.
» See future CD earnings using our CD calculator
- What's better: CDs or investment accounts?
It depends on the level of risk you want to take. Investment, or brokerage, accounts can have higher returns than CDs, but CDs guarantee returns. They're typically federally insured for up to $250,000 and offer fixed interest rates. Brokerage accounts can be riskier, since you aren’t protected against losses.
- Should I put my emergency fund in a CD?
No. CDs are meant for savings you can set aside and leave untouched. Consider a high-yield savings account for money you may need in a pinch.
- Is laddering short-term CDs a good idea?
A CD ladder can be a helpful strategy if you don’t want to go all in on one CD, especially if you want to catch higher CD rates down the road. It works like this: you open multiple CDs at different terms, such as three months, six months, and one year, which frees up part of your funds more regularly than having, say, just a three-year CD. Each time a CD matures, you can either reinvest in a new CD or withdraw your money.