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Online CD Rates 2022 – 6-Month CDs

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 above.

Highest 6-Month Online CD Rates - December 3, 2022

6 Month CD National Average: 0.28% ?

BANK APY? MIN?
Sponsored Advertiser Disclosure

Bask Certificate of Deposit (CD) Account — available with terms ranging from 6 months to 24 months with a minimum deposit of $1,000. Member FDIC.

| Apr 12, 2021

Frustrating. The initial application form is a breeze. Then the problems start. Many hoops to jump through.

| Nov 14, 2022

Refused to waive penalties when I asked to move my CD into another 5 year CD in their institution prior to maturity, rather than withdrawing and placing in another bank. It took me several weeks to get a r...

| Apr 10, 2021

I opened an account a couple of years ago and had a dreadful experience. I saw two weeks ago that the rate was better than at Citizens so I closed that account for this one. I cannot access my money now or... Read More

Warning: Early Withdrawal Penalty is 180 days interest.

| Apr 22, 2015

Hello, I am interested in a line of credit against my home. I have a high interest credit card that I want to move to this credit. I have a wells fargo mortgage which is only a few years old which I do no...

| Jul 17, 2021

I've been with this bank for 6 months and have not had any problems. Bill pay works good. The 24 month investing CD is another vechile I use. Rates are above average considering the national rate. I'd reco... Read More

| Nov 30, 2022

Sallie Mae managed to lose our $500,000 account and all the goodwill that had been built over 10 years plus as customers in one simple phone call. Their CSR began screaming at me when I inquired about a pr...

| Sep 14, 2020

two thumbs up Read More

| Aug 31, 2022

you can view but you wont get in. application can't go through, they can't help even you called, Bank just make show they exit. Read More

| Nov 1, 2022

I never in my 80 years of life seen a company that treat their customers like shit and still expect them to come back. I have always paid my bills monthly without hesitation, in the past I have had so many... Read More

| Jul 15, 2021

I finally closed my account. Was great back in the day as everbank but now it is a joke in every way. Read More

Early withdrawal penalty is 3 Months' Interest.

| Jul 1, 2022

not really an onllne bank. compare this interface that gives you no information with that of any other bank (I cannot even confirm the rate). cannot switch in and out of cds or np cds. just not an online b... Read More

| Apr 18, 2018

Worst experience of my life. Did not fund and gave $25 to my own charity. Read More

Early Withdrawal Penalty is all interest earned.

| Nov 11, 2022

I have been with PenFed for a number of years, and have gotten good products. Employees have been helpful. However, beware of titling for accounts with trusts. You will not be able to distinguish betw...

| Aug 16, 2022

ally is still the gold standard in online banking, but the rate needs to get more competitive and the wait to speak to someone on the phone is just ridiculous. Read More

| Jul 1, 2022

Very easy opening process and wonderful staff.

Signature Federal Credit Union
Restrictions
1.75% $500 Learn More

| Mar 19, 2022

Problem with ties to puppy mills. I closed a cct. https://www.americanbanker.com/news/tab-bank-dragged-into-seedy-world-of-puppy-mill-loans-by-fintech-partner

| Aug 6, 2022

The idea that they aren't competing is wrong. They'll give you 1% more on your savings if you run around promoting their brand and get a friend to sign up. Great marketing scheme actually, since those so i... Read More

| Sep 17, 2020

It is a complete game between MySavings, DollarSavings and Emigrant. Some days one has a competitive rate, the next day the rate on that one has dropped to zero and it is one of the other brands that has... Read More

Early Withdrawal Penalty is all interest earned.

| Mar 30, 2021

These guys are the best local bank. Very responsive.

| Mar 4, 2021

They are liers. Please don't open their credit cards to avoid being taking advantage of!!! I hope they bankrupt SOOOOOON. Read More

| Oct 29, 2022

Caveat Emptor! Like others, attracted to their competitive rates. Moved 125K into their MMA from my credit union. They have a system that somehow displays account information from other institutions to be ... Read More

| Jan 4, 2020

Be aware, when cd comes due, they mail a check to your home which takes 7-10 business days. That is a long time to have money not drawing any interest. Read More

| Jun 10, 2022

This bank hasn't raised their rates! Maybe I was sleeping but I need to get out of here fast. Read More

| Nov 2, 2020

Got the account opened after weeks and finally got it funded and then they dropped the rate the next day and it is no longer competitive.

| Aug 31, 2022

never had a problem moving money in/out. After trying a couple banks with higher rates but less service will be moving my money back here. Read More

OneWest Bank, a division of First-Citizens Bank and Trust
0.10% $1,000 Learn More

| Nov 12, 2022

I was shopping for deposit rates in August, and NerdWallet, a site I had previously trusted, had it on their list. I was unaware they took deposits. They are the only bank that ever duplicated a transactio...

| Aug 13, 2019

I filled out the application 10 days ago answering all questions and sent a file with a copy of my drivers license to Western Bank. I received an email saying that a banker would call me within one busines...

| Nov 28, 2022

While USAA was at one point a great option for all your banking needs, the service has deteriorated so much that I'm currently in the process of changing banks after more than 2 decades. The final straw w... Read More

Edu Federal Credit Union
Restrictions
0.01% $500 Learn More
All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

PRODUCT INFORMATION

6 Month Certificates of Deposit from Online Banks 2022

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.

The advantages of online bank six month CDs are:

  • Funds deposited in FDIC banks and within insurance limits are protected by the full faith and credit of the United States government.
  • CDs provide a predictable, set rate of return.
  • The CD can be opened from the comfort of your house.

The disadvantages of online bank six month CDs are:

  • Six month CDs currently pay interest rates significantly below many online and branch-based savings and money market accounts.
  • The deposited money is committed for six months.
  • The account must be opened online and all inquiries must be conducted online or via the phone.
  • Depending on the bank, the opening and funding process can take several days to weeks although the bank generally locks the rate once the application has been received and approved.

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.