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7 Best 6-Month CD Rates April 2021

Spencer TierneyApril 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 April 2021

Bank5 Connect High-Yield CD

3.5

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

HSBC Direct CD

2.0

NerdWallet rating 
HSBC Direct CD

APY

0.20%

With $1,000 minimum balance

Minimum Balance

$1,000

Member FDIC


Why we like it

HSBC Direct offers three online CDs, including a six-month term, and its opening minimum requirement of $1,000 is lower than that of many online bank CDs.

Read Full Review

CIT Bank CD

3.0

NerdWallet rating 
CIT Bank CD

APY

0.30%

With $1,000 minimum balance

Minimum Balance

$1,000

Member FDIC


Why we like it

Online-based CIT Bank offers a solid six-month rate with a minimum that's lower than some online banks.

Read Full Review

TIAA Bank Basic CD

3.5

NerdWallet rating 
TIAA Bank Basic CD

APY

0.40%

With $1,000 minimum balance

Minimum Balance

$1,000

Member FDIC


Why we like it

The online bank has solid rates for short- and long-term CDs, and a somewhat low minimum compared to other online banks.

Read Full Review

Sallie Mae Bank CD

3.5

NerdWallet rating 
Sallie Mae Bank CD

APY

0.30%

With $2,500 minimum balance

Minimum Balance

$2,500

Member FDIC


Why we like it

Known for its student loans, Sallie Mae also has high-yield certificates of deposit. The minimum is higher than at some 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.

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

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

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

  • HSBC Direct: 0.20% APY, $1,000 minimum deposit.

  • CIT Bank: 0.30% APY, $1,000 minimum deposit.

  • Sallie Mae Bank: 0.30% APY, $2,500 minimum deposit.

Last updated on April 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 April 2021

Frequently asked questions