Six month Certificates of Deposit (CD) rates from online banks are often above average if you are willing to open and manage your account using the Internet. Most online banks offer an online application and money can be transferred to fund the CD via an electronic transfer, check, wire, or credit card. To view rates for other CD terms, click the tabs below.
May 28, 2017
6 Month CD National Average: 0.28% ?
| APY | Vs. Nat'l Av. |
MIN | ||
|---|---|---|---|---|
| ableBanking | 1.05% | 3.82x | $1,000 |
Reviews (3) |
| My Banking Direct | 1.01% | 3.67x | $0 |
Reviews (7) |
| BAC Florida | 0.95% | 3.45x | $100,000 |
Reviews (5) |
| Colorado Federal Savings Bank | 0.90% | 3.27x | $5,000 |
Reviews (11) |
|
PENTAGON
Restrictions |
0.85% | 3.09x | $0 |
Reviews (1) |
| Bank5 Connect | 0.85% | 3.09x | $500 | Reviews |
| My Savings Direct | 0.85% | 3.09x | $1,000 |
Reviews (6) |
| EverBank | 0.85% | 3.09x | $1,500 |
Reviews (12) |
| Bank of Internet | 0.75% | 2.73x | $1,000 | Reviews |
| Discover Bank | 0.65% | 2.36x | $2,500 |
Reviews (3) |
| USAA Federal Savings Bank | 0.61% | 2.22x | $175,000 | Reviews |
| Ally Bank | 0.60% | 2.18x | $0 |
Reviews (30) |
| Goldman Sachs Bank | 0.60% | 2.18x | $500 |
Reviews (18) |
| Barclays Bank Delaware | 0.55% | 2.00x | $0 |
Reviews (15) |
| OneWest Bank | 0.55% | 2.00x | $1,000 | Reviews |
| American Express Bank, FSB | 0.40% | 1.45x | $0 |
Reviews (6) |
| TotalBank | 0.40% | 1.45x | $1,000 | Reviews |
| Capital One 360 | 0.40% | 1.45x | $10,000 |
Reviews (2) |
| Nationwide Bank | 0.35% | 1.27x | $100,000 |
Reviews (1) |
| New Dominion Direct | 0.30% | 1.09x | $1,000 | Reviews |
Online banks generally provide better rates on six month certificates of deposit in return for the depositor opening the CD online and interacting with the bank online or via phone. There is no branch which the depositor can visit to ask questions, roll over the CD, or open the account.
Other than the way a CD from an online bank is opened and serviced, the rest of the characteristics are the same as a branch-opened CD.
When interest rates are falling, it is often preferable to lock in high rates for an extended period of time with a longer-term CD. When interest rates are rising, depositors should avoid committing their money for long periods of time. To see interest rate trends, visit the BestCashCow rate analysis page.
All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.
To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.
Find out how much extra money you can earn by moving your bank money into an account that pays more.
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Last Update on May 27, 2017
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Halsey
August 05, 2013
Why do you think savings rates can't drop further? Of course they can drop more. People thought I was crazy to invest in a 5 year CD back in 2008 but I received over 5% for the past 5 years. I agree 6 month CDs are not a good investment now but your logic seems faulty to me as to the reasons.
Is this review helpful? Yes:3 / No:2
Richard Robbins
August 04, 2013
I just cannot understand what would motivate anyone to lock into a six month CD when the rates are lower than savings rates and savings rates cannot drop any further?
Is this review helpful? Yes:4 / No:0
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