Do you want to increase your savings without saving your money for years? A 6-month certificate of deposit (CD) can be the sweet spot between security, flexibility, and a better return on your savings than a typical savings account can offer.
Our team evaluated dozens of accounts to determine the 10 best 6-month CDs available today. Find out where you can make the most of your savings with minimal fees, low deposit requirements and excellent customer service. (See our full methodology here).
The following is a snapshot of our selection of the best 6-month CDs available today. Continue reading for more details on these accounts.
Ally Bank’s 6-month CD currently offers a 3.9% APY with no monthly maintenance fees or minimum opening deposit requirement. Another plus: Ally offers 24-hour customer service via phone, chat, and email.
Please note that the penalty for making an early withdrawal from this account is 60 days of interest.
Read our full Ally Bank review
Synchrony Bank’s 6-month CD features a 3.75% APY with no monthly maintenance fees or minimum balance requirements. Interest on this account is compounded daily and credited monthly.
The penalty for making an early withdrawal from this CD is equal to 90 days of simple interest at the current rate.
Read our full Synchrony Bank review
Depositors who prefer a credit union over a traditional bank may be interested in the America First Credit Union 6-Month CD. This short-term CD offers a 4% APY and a minimum of $500 is required to open an account.
The penalty for making an early withdrawal from this account is equal to 60 days of dividends.
To become a member of America First Credit Union, you will need to submit an online application and meet certain eligibility requirements.
Read our full review of America First Credit Union
The Marcus by Goldman Sachs 6-Month CD offers an APY of 4.05%, more than 2.5 times the national average. Interest is capitalized daily. You must deposit a minimum of $500 to open an account.
The penalty for making an early withdrawal from this account is 90 days’ interest on the original principal balance at the current interest rate for the account.
Read our full review of Goldman Sachs’ Marcus
Bread Savings offers CDs with terms ranging from three months to five years. Their 6-month CD offers an APY of 4.05% APY, although the minimum opening deposit for this account is the highest on our list at $1,500. Interest is capitalized daily and credited monthly.
Read our full Bread Savings review
Bank5Connect is an online-only bank that offers competitive rates on its deposit products. The current rate for a 6-month CD is 3.2% APY and a minimum of $500 is needed to open an account. Interest is compounded monthly, which is less frequent than most accounts we review.
The penalty for making an early withdrawal from this account is equal to three months of interest.
Read our full Bank5 Connect review
Bask Bank’s 6-month CD has a higher minimum initial deposit of $1,000. Therefore, this account may not be the best option if you are still working on increasing your savings.
Those who qualify benefit from a 3.85% APY and daily compound interest. The penalty for making a withdrawal before your CD reaches maturity is 90 days of simple interest based on the principal amount withdrawn.
Read our full Bask Bank review
EverBank’s 6-month CD requires a minimum initial deposit of $1,000, but offers a competitive 3.8% APY, which is more than double the national average for 6-month CDs. The interest on this CD accumulates daily.
The penalty for making an early withdrawal is 45 days of simple interest.
Read our full EverBank review
Quontic’s 6-month CD currently offers a 3.75% APY with a minimum deposit of $500 to open an account. Interest is capitalized daily and credited monthly. There are no monthly service fees.
One major drawback to this CD: The penalty for making an early withdrawal is equal to the interest over the entire term, meaning you could lose some of your principal deposit if you withdraw your funds too soon.
Read our full Quontic Bank review
Limelight offers CDs with terms ranging from 6 to 36 months. Its 6-month term offers the highest rate of 4% with a minimum deposit required of $1,000. Interest is capitalized daily and credited quarterly.
The penalty for early withdrawal of the 6-month CD is equivalent to 90 days of interest.
Some of the most frequently asked questions about 6-month CDs include:
In many cases, 6-month CDs offer higher interest rates than traditional savings accounts. That means your money will earn more interest over a six-month period, allowing your savings to grow faster. Plus, your interest rate is guaranteed for the entire term, even if rates drop. With a six-month term, you can earn fixed interest without tying up your funds for an extended period or exposing them to market risk.
Read more: Understanding CD Terms: How Long Should You Hold Your Money?
A shorter-term CD, such as a 6-month CD, allows you to earn a competitive interest rate on your balance without locking up your funds for years. That said, if rates are falling when your CD matures, you’ll give up the rate you set initially and have fewer options to get a similar rate in the future.
Read more: Pros and cons of certificates of deposit (CDs)
This depends on your CD rate.
Right now, the average rate for a 6-month CD is 1.58%, according to the FDIC. If you put $10,000 in a 6-month CD at the average rate, you’d earn just under $80 in interest when your CD matures.
However, many banks and credit unions offer CDs with rates well above national averages, sometimes as high as 4%. If you put $10,000 into a 6-month CD with a 4% APY, you’d get closer to $200 in interest earned over the same period.
That’s why it’s important to compare prices and CD options before you commit.
Read more: Will CD rates go up or down in 2026?
If you want to try a CD or are working with a shorter timeline for your savings goals, a 6-month CD may be a worthwhile investment for you. These accounts can offer competitive rates with a little more flexibility than a longer-term CD. It may also be worth considering if you want to lock in a higher rate before interest rates decline further.
Read more: Is a certificate of deposit (CD) still a good investment?
Right now, the highest 6-month CD rate is 4.05%, offered by Bread Savings and Marcus by Goldman Sachs.
Our rating system, compiled and carefully reviewed by our personal finance experts, included over 300 data points for federally insured CDs with 6-month terms. We use this data to develop our list of the best CDs.
We evaluate these accounts based on several key metrics, including annual percentage yield, minimum opening deposit, compounding frequency, and more.
Accounts on our list could score a maximum of 25 points across all metrics. Here’s a closer look at the categories we considered:
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Annual Percentage Yield (APY): Accounts with higher APYs were rewarded with more points than those with lower APYs. Please note that the rates in our list are current at the time of publication, but are subject to change at any time.
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Minimum opening deposit: Many CDs require a minimum deposit to open an account. Accounts with low or no minimum deposit requirements were rated more favorably than those with higher initial deposit requirements.
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Composite frequency: Compounding can occur daily, monthly, quarterly, or even annually. We award more points to accounts that earn compound interest frequently.
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Customer service contact methods: Our team awarded one point for each contact method available to customers (phone, email, chat).