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6 Best 6-Month CD Rates January 2021

Spencer TierneyJanuary 1, 2021
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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.

» Want to see a wider pool of high rates? See our list of the best high-interest accounts

Summary of Best 6-Month CD Rates January 2021

Live Oak Bank CD

4.0

NerdWallet rating 
Live Oak Bank CD

APY

0.25%

With $2,500 minimum balance

Minimum Balance

$2,500

Member FDIC


Why we like it

Live Oak Bank offers a highly competitive six-month CD rate. There's a somewhat high minimum.

Read Full Review

Bank5 Connect High-Yield CD

4.0

NerdWallet rating 
Bank5 Connect High-Yield CD

APY

0.35%

With $500 minimum balance

Minimum Balance

$500

Member FDIC


Why we like it

Bank5 Connect provides a range of short-term CDs and its opening minimum of $500 is low.

Read Full Review

TAB Bank CD

5.0

NerdWallet rating 
TAB Bank CD

APY

0.40%

With $1,000 minimum balance

Minimum Balance

$1,000

Member FDIC


Why we like it

TAB Bank is a Utah-based online bank that boasts a competitive rate plus a relatively low minimum to open.

Read Full Review
Consumers Credit Union CD

at Consumers Credit Union, Federally insured by the NCUA

Consumers Credit Union CD

4.0

NerdWallet rating 
Consumers Credit Union CD

APY

0.40%

With $250 minimum balance

Minimum Balance

$250

Federally insured by the NCUA

at Consumers Credit Union, Federally insured by the NCUA


Why we like it

Consumers Credit Union, an Illinois-based financial institution, offers a wide range of CDs with competitive rates and a low opening minimum. To join, you must pay a one-time fee of $5 to the Consumers Cooperative Association and open a savings account with $5 or more.

Read Full Review

Ally Bank High Yield CD

4.5

NerdWallet rating 
Ally Bank High Yield CD

APY

0.25%

With $0 minimum balance

Minimum Balance

$0

Member FDIC


Why we like it

Ally offers a wide range of CDs, including a decent six-month CD, and has no opening minimum.

Read Full Review

nbkc bank Personal CD

3.0

NerdWallet rating 
nbkc bank Personal CD

APY

0.40%

With $1,000 minimum balance

Minimum Balance

$1,000

Member FDIC


Why we like it

NBKC, or the National Bank of Kansas City, is an online-focused bank that offers a strong six-month CD with a relatively low minimum deposit compared to other online banks.

Read Full Review

» Want to see more options? Check out our list of the best CD rates overall

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 three banks offer no-penalty CDs:

Best 6-month CD rates:

  • TAB Bank: 0.40% APY, $1,000 minimum deposit.

  • Live Oak Bank: 0.25% APY, $2,500 minimum deposit.

  • Consumers Credit Union: 0.40% APY, $250 minimum deposit.

  • Ally Bank: 0.25% APY, no minimum deposit.

  • NBKC Bank: 0.40% APY, $1,000 minimum deposit.

  • Bank5 Connect: 0.35% APY, $500 minimum deposit.

Last updated on January 1, 2021

Methodology

We featured easy-to-join financial institutions that NerdWallet has vetted and reviewed with the highest rates for six-month CDs. Higher rates might be available elsewhere.

To recap our selections...

NerdWallet's Best 6-Month CD Rates January 2021

Frequently asked questions