6 Month CD Rates
A 6-month CD is an ideal way to save for emergencies or other short term saving goals. Six month certificates of deposit generally pay higher rates than checking, money market, or other demand accounts. And the term of the CD is short enough so that your money won't be locked away for too long. And of course, you can always use CD laddering to keep funds available without early withdraw penalties.
Update: While 6-month certificates of deposit generally pay higher interest rates than money market accounts, that's not the case now. In fact, an Everbank money market account currently pays a bonus rate of 2.51% for the first three months. After that, the rate goes to 1.51% APY. You can get more information and open an account online by visiting Everbank at www.everbank.com.
Here is a list of some of the best 6 month CD rates currently available:
| Financial Institution | CD Rate (APY) | Minimum Deposit |
|---|---|---|
| Ally Bank | 1.35% | $0 |
| Everbank | 1.20% | $1,500 |
| HSBC Direct | 0.50% | $1 |
| Bank of Internet | 1.05% | $1,000 |
| FNBO | 1.00% | $0 |
| Nationwide Bank | 1.25% | $500 |
| E-Loan | 1.00% | $10,000 |
| Virtual Bank | 1.26% | $10,000 |
| ING Direct | 1.25% | $1 |
Last Updated: January 11, 2010
