BEST OF

7 Best 6-Month CD Rates July 2021

Spencer TierneyJul 1, 2021
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

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.

Why trust NerdWallet: Our writers and editors follow 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.

» 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 July 2021

Quontic Bank CD
Learn more

at Quontic Bank, Member FDIC

Quontic Bank CD

4.0

NerdWallet rating 
Quontic Bank CD

Minimum Balance

$500

Member FDIC

APY

0.55%

With $500 minimum balance

Learn more

at Quontic Bank, Member FDIC


Why we like it

Quontic Bank is a digital bank with a low minimum and competitive rate on its six-month CD.

Read Full Review

Bank5 Connect High-Yield CD

3.5

NerdWallet rating 
Bank5 Connect High-Yield CD

Minimum Balance

$500

Member FDIC

APY

0.35%

With $500 minimum balance


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

Minimum Balance

$1,000

Member FDIC

APY

0.40%

With $1,000 minimum balance


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

4.0

NerdWallet rating 
Consumers Credit Union CD

Minimum Balance

$250

Federally insured by the NCUA

APY

0.40%

With $250 minimum balance


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

CIT Bank CD

3.0

NerdWallet rating 
CIT Bank CD

Minimum Balance

$1,000

Member FDIC

APY

0.30%

With $1,000 minimum balance


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

Minimum Balance

$1,000

Member FDIC

APY

0.40%

With $1,000 minimum balance


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

Minimum Balance

$2,500

Member FDIC

APY

0.30%

With $2,500 minimum balance


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:

  • Quontic Bank: 0.55% APY, $500 minimum deposit.

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

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

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

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

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

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

Last updated on July 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 July 2021

Frequently asked questions