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Best 6-Month CD Rates August 2019

Aug. 1, 2019
Banking, CDs
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

The best six-month CD rates can play a role in boosting your short-term savings. Here’s a list of our picks.

Best 6-month CD interest rates | August 2019


3.5 NerdWallet rating

1.95% APY
$5,000 minimum deposit

Popular Direct

3.5 NerdWallet rating

2.20% APY
$10,000 minimum deposit

Vio Bank

4.0 NerdWallet rating

1.65% APY
$500 minimum deposit


3.0 NerdWallet rating

1.70% APY
$10,000 minimum deposit

Citizens Access

4.0 NerdWallet rating

2.00% APY
$5,000 minimum deposit

Sallie Mae

4.0 NerdWallet rating

2.20% APY
$2,500 minimum deposit

Pentagon Federal Credit Union

4.0 NerdWallet rating

1.70% APY
$1,000 minimum deposit

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

What is a CD?

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.

» Want slightly higher rates? Check out our list of best one-year CD rates

How do CD rates work?

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

When should you get a CD?

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

What’s better: CDs or high-yield savings accounts?

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.

What’s better: CDs or investment 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.

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.

Here are some examples of CDs that give you more freedom with your money.

4.0 NerdWallet rating

4.0 NerdWallet rating

4.5 NerdWallet rating

No-penalty 11-month APY


Minimum deposit


No-penalty 11-month APY


Minimum deposit


No-penalty 11-month APY


Minimum deposit

No minimum
(but $5,000 and $25,000 result in higher rates)

Compare other current CD rates

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Best 6-month CD rates, August 2019

Financial institutionAPYMinimum deposit
TIAA Bank1.95%$5,000
Popular Direct2.20%$10,000
Sallie Mae2.20%$2,500
Citizens Access2.00%$5,000
Vio Bank1.65%$500
Pentagon Federal Credit Union1.70%$1,000


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.

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