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15 Best 6-Month CD Rates for July 2024

Written by Spencer Tierney
Senior writer
Profile photo of Sara Clarke
Edited by Sara Clarke
Assistant Assigning Editor
Fact Checked

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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.

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.

More than 90 financial institutions surveyed by our team of experts.

More than 50 data points considered for each bank and credit union to be eligible for our lists. For this CD list, three data points were considered per institution.

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.

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.

More than 90 financial institutions surveyed by our team of experts.

More than 50 data points considered for each bank and credit union to be eligible for our lists. For this CD list, three data points were considered per institution.

🤓Nerdy Tip

Some banks have started lowering CD yields, though overall rates remain high. With a CD, you can lock in high rates while they’re still around.

Best 6-Month CD Rates

NerdWallet rating 

5.0

/5
Marcus by Goldman Sachs High-Yield CD
Learn more

at Goldman Sachs Bank USA, Member FDIC

Minimum deposit

$500

Member FDIC

APY

5.10%

Why We Like It

Marcus by Goldman Sachs offers a solid six-month rate and a low minimum opening requirement of $500.

NerdWallet rating 

5.0

/5
Alliant Credit Union Certificate
Learn more

at Alliant Credit Union, Federally insured by NCUA

Minimum deposit

$1,000

Federally insured by NCUA

APY

5.00%

Why We Like It

Alliant Credit Union has a six-month certificate with a solid rate and a somewhat low minimum of $1,000.

NerdWallet rating 

3.5

/5
Barclays Online CD
Learn more

at Barclays, Member FDIC

Minimum deposit

$0

Member FDIC

APY

4.85%

Why We Like It

Barclays has a six-month CD with a strong rate and no minimum deposit requirement.

NerdWallet rating 

2.5

/5
Bask Bank CD
Minimum deposit

$1,000

Member FDIC

APY

5.35%

Why We Like It

Bask Bank has a competitive yield and a somewhat low minimum opening requirement of $1,000.

NerdWallet rating 

3.5

/5
Vio Bank CD
Minimum deposit

$500

Member FDIC

APY

5.25%

Why We Like It

Vio Bank is an online-only bank division of MidFirst Bank. Its CDs have solid rates and a low minimum of $500.

NerdWallet rating 

5.0

/5
Quontic Bank CD
Minimum deposit

$500

Member FDIC

APY

5.05%

Why We Like It

Quontic Bank is a digital bank with a low minimum of $500 and a competitive rate on its six-month CD.

NerdWallet rating 

5.0

/5
BMO Alto Certificate of Deposit
Minimum deposit

$0

Deposits are FDIC Insured

APY

5.10%

Why We Like It

BMO Alto, an online-only division of BMO, offers a competitive six-month CD rate and no minimum requirement.

NerdWallet rating 

5.0

/5
LendingClub CD
Minimum deposit

$2,500

Member FDIC

APY

5.30%

Why We Like It

The online bank’s six-month CD, its shortest term, has a solid yield. The minimum opening requirement of $2,500 is somewhat higher than other online banks have.

NerdWallet rating 

3.0

/5
Live Oak Bank CD
Minimum deposit

$2,500

Member FDIC

APY

4.80%

Why We Like It

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

NerdWallet rating 

5.0

/5
Synchrony Bank CD
Minimum deposit

$0

Member FDIC

APY

4.80%

Why We Like It

Synchrony Bank has a wide range of CDs including a six-month term that has a solid rate.

NerdWallet rating 

4.0

/5
Sallie Mae Bank CD
Minimum deposit

$2,500

Member FDIC

APY

4.80%

Why We Like It

Known for its student loans, Sallie Mae also has high-yield certificates of deposit. The minimum of $2,500 is higher than at some banks.

NerdWallet rating 

3.5

/5
Lake Michigan Credit Union Certificate of Deposit
Minimum deposit

$500

Federally insured by NCUA

APY

4.80%

Why We Like It

Lake Michigan Credit Union offers solid CD rates and has membership available nationwide except for California residents.

NerdWallet rating 

3.0

/5
Service Credit Union Share Certificate
Minimum deposit

$500

Federally insured by NCUA

APY

5.00%

Why We Like It

Service Credit Union offers a six-month certificate with a low opening minimum of $500. Anyone can join by becoming a member of the nonprofit American Consumer Council, with a promo code to bypass the membership fee.

NerdWallet rating 

5.0

/5
NASA Federal Credit Union Share Certificate
Minimum deposit

$1,000

Federally insured by NCUA

APY

4.90%

Why We Like It

NASA Federal Credit Union has a competitive yield on its six-month share certificate and a somewhat low minimum deposit requirement of $1,000. Anyone can join by becoming a member of the nonprofit National Space Society.

Want to compare more options? Here are our other top picks:

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

Best 6-month CD rates for July 2024

  • Vio Bank: 5.25% APY, $500 minimum deposit.

  • Bask Bank: 5.35% APY, $1,000 minimum deposit.

  • Popular Direct: 5.35% APY, $10,000 minimum deposit.

  • Quontic Bank: 5.05% APY, $500 minimum deposit.

  • BMO Alto: 5.10% APY, no minimum deposit.

  • LendingClub Bank: 5.30% APY, $2,500 minimum deposit.

  • Live Oak Bank: 4.80% APY, $2,500 minimum deposit.

  • Synchrony Bank: 4.80% APY, no minimum deposit.

  • Marcus by Goldman Sachs: 5.10% APY, $500 minimum deposit.

  • Sallie Mae Bank: 4.80% APY, $2,500 minimum deposit.

  • Lake Michigan Credit Union: 4.80% APY, $500 minimum deposit.

  • Alliant Credit Union: 5.00% APY, $1,000 minimum deposit.

  • Barclays: 4.85% APY, no minimum deposit.

  • Service Credit Union: 5.00% APY, $500 minimum deposit.

  • NASA Federal Credit Union: 4.90% APY, $1,000 minimum deposit.

A green bank that has a coin slot at the top where a hand is depositing a coin.

6-month CD trends

NerdWallet picks’ average:

5.01% APY

National average:

1.98%

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 banks offer no-penalty CDs (click each link to read the full review):

Last updated on July 1, 2024

Methodology

On a monthly basis, we compare rates at over 40 financial institutions, pulled from our full list, that we’ve seen to be consistently competitive. On a quarterly basis, we analyzed our full list, excluding banks that offered brokered CDs, since those accounts work differently from standard bank CDs. Higher rates might be available elsewhere.

We took a close look at over 90 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.

Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Bank7, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Delta Community Credit Union, Discover® Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Global Credit Union, GO2bank, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, Laurel Road Bank, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.

To recap our selections...

NerdWallet's Best 6-Month CD Rates for July 2024

Frequently asked questions