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8 Best 6-Month CD Rates November 2019

Spencer TierneyNovember 1, 2019

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Summary of Best 6-Month CD Rates November 2019

BankAPYMinimum DepositLearn More
TIAA Bank

TIAA Bank

1.85%

$1,000

Popular Direct

Popular Direct

1.75%

$10,000

Vio Bank

Vio Bank

1.65%

$500

PurePoint® Financial

PurePoint® Financial

1.70%

$10,000

Citizens Access

Citizens Access

1.60%

$5,000

Sallie Mae Bank

Sallie Mae Bank

1.90%

$2,500

PenFed Credit Union

PenFed Credit Union

1.60%

$1,000

HSBC

HSBC

2.00%

$1,000

BankAPYMinimum DepositLearn More
TIAA Bank

TIAA Bank

1.85%

$1,000

Popular Direct

Popular Direct

1.75%

$10,000

Vio Bank

Vio Bank

1.65%

$500

PurePoint® Financial

PurePoint® Financial

1.70%

$10,000

Citizens Access

Citizens Access

1.60%

$5,000

Sallie Mae Bank

Sallie Mae Bank

1.90%

$2,500

PenFed Credit Union

PenFed Credit Union

1.60%

$1,000

HSBC

HSBC

2.00%

$1,000

APY

1.85%

Minimum Deposit

$1,000

The online bank has solid rates for short- and long-term CDs, though it requires a high opening minimum.

Read full review
APY

1.75%

Minimum Deposit

$10,000

Popular Direct has a steep opening minimum, but its six-month rate may be worth it.

Read full review
APY

1.65%

Minimum Deposit

$500

Vio Bank, online division of MidFirst Bank, features a strong combination of a high six-month CD rate and a lower minimum than other online banks.

Read full review
APY

1.70%

Minimum Deposit

$10,000

PurePoint offers a stellar six-month rate, but its opening minimum is one of the highest.

Read full review
APY

1.60%

Minimum Deposit

$5,000

Citizens Access, Citizens Bank's online division, offers a high rate on its lowest CD term. The minimum amount to open is hefty, though.

Read full review
APY

1.90%

Minimum Deposit

$2,500

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
APY

1.60%

Minimum Deposit

$1,000

Unlike most credit unions, PenFed's membership is open to everyone. Its six-month CD rate is solid and it has a lower minimum deposit than many other financial institutions.

Read full review
APY

2.00%

Minimum Deposit

$1,000

HSBC Direct, the online-only arm of the global bank HSBC, offers few CD terms, but its six-month CD has a solid rate. The minimum is relatively low as well. The bank also has a solid high-yield savings account (see more details on our review).

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:

Last updated on November 1, 2019

Methodology

We featured easy-to-join financial institutions that we've reviewed with the highest CD rates currently listed in NerdWallet's CD rates tool for six-month CDs. For the ZIP code and minimum deposit requirement, we used 94103 and $10,000, respectively. We also included select, standout rates from other trusted online financial institutions that we have reviewed. Higher rates might be available elsewhere.

To recap our selections...

NerdWallet's Best 6-Month CD Rates November 2019

Frequently asked questions

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.

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 what CDs can earn with our CD calculator

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

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.

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. See this month's best six-month CD rates.