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16 Best 6-Month CD Rates for December 2024

Nov 27, 2024
Spencer Tierney
Written by 
Senior Writer
Sara Clarke
Edited by 
Assistant Assigning Editor
Fact Checked
Spencer Tierney
Written by 
Senior Writer
Sara Clarke
Edited by 
Assistant Assigning Editor
Fact Checked

Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. 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.

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 100 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

The Fed lowered its benchmark rate multiple times in the second half of 2024. As a result, banks and credit unions have started lowering CD rates. With a CD, you can lock in high rates while they’re still around.

Best 6-Month CD Rates

Bank/institutionNerdWallet rating Minimum depositAPYLearn more
Alliant Credit Union Certificate

Alliant Credit Union Certificate

Learn more
at Alliant Credit Union, Federally insured by NCUA
4.7/5
$1,000
Federally insured by NCUA

APY 4.00%

Learn more
at Alliant Credit Union, Federally insured by NCUA
Bask Bank CD

Bask Bank CD

2.6/5
$1,000
Member FDIC

APY 4.45%

Popular Direct CD

Popular Direct CD

4.2/5
$10,000
Member FDIC

APY 4.61%

Vio Bank CD

Vio Bank CD

4.0/5
$500
Member FDIC

APY 4.30%

Quontic Bank CD

Quontic Bank CD

4.0/5
$500
Member FDIC

APY 4.25%

BMO Alto Certificate of Deposit

BMO Alto Certificate of Deposit

5.0/5
$0
Deposits are FDIC Insured

APY 4.50%

Service Credit Union Share Certificate

Service Credit Union Share Certificate

3.5/5
$500
Federally insured by NCUA

APY 4.50%

NASA Federal Credit Union Share Certificate

NASA Federal Credit Union Share Certificate

5.0/5
$1,000
Federally insured by NCUA

APY 4.50%

First Internet Bank CD

First Internet Bank CD

5.0/5
$1,000
Member FDIC

APY 4.35%

Bank5 Connect High-Yield CD

Bank5 Connect High-Yield CD

3.1/5
$500
Member FDIC

APY 4.50%

Bread Savings™️ CD

Bread Savings™️ CD

Learn more
at Bread Savings, Member FDIC
4.4/5
$1,500
Member FDIC

APY 4.65%

Learn more
at Bread Savings, Member FDIC
E*TRADE CD

E*TRADE CD

4.6/5
$0
Member FDIC

APY 4.25%

Ally Bank High Yield CD

Ally Bank High Yield CD

5.0/5
$0
Member FDIC

APY 4.10%

CIBC Agility™ Online CD

CIBC Agility™ Online CD

2.6/5
$1,000
Member FDIC

APY 4.51%

Customers Bank CD

Customers Bank CD

3.9/5
$500

APY 4.55%

Newtek Bank CD

Newtek Bank CD

4.4/5
$2,500
Member FDIC

APY 4.75%

Alliant Credit Union Certificate
Learn more
at Alliant Credit Union, Federally insured by NCUA
NerdWallet rating
4.7/5
Learn more
at Alliant Credit Union, Federally insured by NCUA

Minimum deposit

$1,000

Federally insured by NCUA

APY

4.00%

Our Take
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
2.6/5

Minimum deposit

$1,000

Member FDIC

APY

4.45%

Our Take
Why We Like It

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

NerdWallet rating
4.0/5

Minimum deposit

$500

Member FDIC

APY

4.30%

Our Take
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
4.0/5

Minimum deposit

$500

Member FDIC

APY

4.25%

Our Take
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

Minimum deposit

$0

Deposits are FDIC Insured

APY

4.50%

Our Take
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
3.5/5

Minimum deposit

$500

Federally insured by NCUA

APY

4.50%

Our Take
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

Minimum deposit

$1,000

Federally insured by NCUA

APY

4.50%

Our Take
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.

NerdWallet rating
5.0/5

Minimum deposit

$1,000

Member FDIC

APY

4.35%

Our Take
Why We Like It

First Internet Bank, one of the oldest online banks, has a strong rate for its six-month CD term and a somewhat low minimum deposit of $1,000.

NerdWallet rating
3.1/5

Minimum deposit

$500

Member FDIC

APY

4.50%

Our Take
Why We Like It

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

Bread Savings™️ CD
Learn more
at Bread Savings, Member FDIC
NerdWallet rating
4.4/5
Learn more
at Bread Savings, Member FDIC

Minimum deposit

$1,500

Member FDIC

APY

4.65%

Our Take
Why We Like It

The online bank Bread Savings has a strong rate on its six-month CD, though its opening minimum of $1,500 is somewhat high.

NerdWallet rating
4.6/5

Minimum deposit

$0

Member FDIC

APY

4.25%

Our Take
Why We Like It

E*TRADE, a division of Morgan Stanley Private Bank, offers a solid six-month CD rate and no minimum deposit requirement. E*TRADE’s bank CDs are separate from the CDs available for investors in brokerage accounts (learn more about brokered CDs).

NerdWallet rating
5.0/5

Minimum deposit

$0

Member FDIC

APY

4.10%

Our Take
Why We Like It

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

NerdWallet rating
2.6/5

Minimum deposit

$1,000

Member FDIC

APY

4.51%

Our Take
Why We Like It

CIBC U.S., online U.S. bank division of a Canadian bank, has a competitive yield on its six-month CD. Its opening minimum deposit of $1,000 is fairly low.

NerdWallet rating
3.9/5

Minimum deposit

$500

APY

4.55%

Our Take
Why We Like It

Customers Bank, based in Pennsylvania, offers online six-month CDs with a low minimum opening of $500.

NerdWallet rating
4.4/5

Minimum deposit

$2,500

Member FDIC

APY

4.75%

Our Take
Why We Like It

Newtek Bank, an online bank with headquarters in Miami, has a stellar rate on its six-month CDs. The opening minimum of $2,500 is somewhat hefty.

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 December 2024

  • Newtek Bank: 4.75% APY, $2,500 minimum deposit.

  • Bread Savings: 4.65% APY, $1,500 minimum deposit.

  • Customers Bank: 4.55% APY, $500 minimum deposit.

  • CIBC U.S.: 4.51% APY, $1,000 minimum deposit.

  • BMO Alto: 4.50% APY, no minimum deposit.

  • NASA Federal Credit Union: 4.50% APY, $1,000 minimum deposit.

  • Bank5 Connect: 4.50% APY, $500 minimum deposit.

  • Popular Direct: 4.61% APY, $10,000 minimum deposit.

  • Service Credit Union: 4.50% APY, $500 minimum deposit.

  • Bask Bank: 4.45% APY, $1,000 minimum deposit.

  • First Internet Bank: 4.35% APY, $1,000 minimum deposit.

  • Vio Bank: 4.30% APY, $500 minimum deposit.

  • E*TRADE: 4.25% APY, no minimum deposit.

  • Quontic Bank: 4.25% APY, $500 minimum deposit.

  • Alliant Credit Union: 4.00% APY, $1,000 minimum deposit.

  • Ally Bank: 4.10% APY, no 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:

4.44% APY

National average:

1.68%

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 November 27, 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 100 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, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Carver Federal Savings Bank, CFG 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 Internet Bank, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Forbright Bank, 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, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, 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, Western Alliance Bank and Zynlo Bank.

To recap our selections...

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

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.

  • It depends on your savings goals and how sure you are that you won't need your funds before the CD term expires. Having to pay an early withdrawal penalty, generally up to one year's worth of interest, can be a blow to your savings. Common CD terms range from three months to five years; if you want to play it safe, go for a shorter CD term or a no-penalty CD.

  • A no-penalty CD is a type of CD that doesn’t have a penalty for withdrawing money before the term ends. It can be appealing if you want the traditionally higher yield of a CD, compared to regular savings accounts, and think you might need the money sooner than planned. See the best no-penalty 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.

  • 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

  • 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 future CD earnings using our CD calculator

  • 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.

  • No. CDs are meant for savings you can set aside and leave untouched. Consider a high-yield savings account for money you may need in a pinch.

  • A CD ladder can be a helpful strategy if you don’t want to go all in on one CD, especially if you want to catch higher CD rates down the road. It works like this: you open multiple CDs at different terms, such as three months, six months, and one year, which frees up part of your funds more regularly than having, say, just a three-year CD. Each time a CD matures, you can either reinvest in a new CD or withdraw your money.