Best 6-Month CD Rates for June 2025

You might want to open a 6-month CD if you're looking for a way to lock in a high interest rate for half a year. According to the FDIC, the national average CD rate on a 6-month term is 1.58% APY (Annual Percentage Yield), but the best CDs from online banks and credit unions offer much higher rates.

However, there are much higher interest rates on 6-month CDs right now. The best CD rate for a 6-month term is 4.50% APY available at Vibrant Credit Union. AbleBanking also has a 4.50% 6-month CD.

At Business Insider, we monitor CDs available at top banks and credit unions every day to help you find the best 6-month CD for you. Now's a great time to open a CD. The Fed held interest rates steady at the last Fed meeting, but it might lower rates in the future.

Below, you'll find our top picks for the best 6-month terms currently offered by nationwide banks and credit unions.

Best 6-Month CDs

• Vibrant Credit Union 6 Month Certificate Special: 4.50% APY
• AbleBanking 6 Month CD: 4.50% APY
• Newtek Bank 6 Month CD: 4.50% APY
• First Internet Bank of Indiana 6 Month CD: 4.49% APY
• TotalBank 6 Month CD: 4.41% APY
• Rising Bank 6 Month CD: 4.41% APY
• Bank5 Connect 6 Month High-Yield CD: 4.40% APY
• Quorum Federal Credit Union 6 Month Term Savings: 4.40% (on balances of $1,000 - $99,999) to 4.50% (on balances of $100,000 or more) APY
• EagleBank 6 Month CD: 4.40% APY
• Popular Direct 6 Month CD: 4.40% APY

The best 6-month CDs pay high interest rates, and many of them have low minimum opening deposits and low early withdrawal penalties.

Compare the Best 6-Month CDs

You can find the top CDs primarily at online banks. That said, there are also two credit unions with competitive 6-month terms.

When you are choosing a CD, you can compare different features to narrow down the best fit. For example, consider how much money you want to deposit and see if the bank's minimum opening deposit requirements aren't a reach. You can also weigh the overall banking experience and check out the bank's customer service availability and mobile app ratings before settling on an account.

You might also want to look for eco-friendly banks or community development financial institutions. Both of these types of financial institutions use the money you put in the bank for good; eco-friendly banks help the environment, while CDFIs provide financial services to underserved banking populations. Opening a CD with one of these financial institutions can be an easy way to support causes you care about.

6-Month CD Reviews

These are our picks for the best 6-month CD rates. Our top picks for CDs are protected by FDIC or NCUA insurance. If you're worried about bank failures, keep in mind your money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.

Vibrant Credit Union 6 Month Certificate Special

Vibrant Credit Union offers a good rate on its 6-month CD. The CD has a very low minimum opening deposit of $5, which could be helpful if you want to open a CD with a small amount of money.

Vibrant Credit Union is a credit union anyone can join by becoming a member of the Illinois Consumer Council. You can also qualify if you're an employee of a select employer group, a family member of a current Vibrant member, or if you live or work in certain parts of Illinois, Indiana, Iowa, or Wisconsin.

APY for 6-month CD: 4.50% APY

6-month CD early withdrawal penalty: All of the interest accrued

AbleBanking 6 Month CD

AbleBanking, an online division of Northeastern Bank, offers a good rate on its 6-month CD. It also has standard-to-low early withdrawal penalties on all of its CD products, which could be helpful if you think there's a chance you'll need to withdraw your money before the end of the term.

AbleBanking requires a significantly higher minimum opening deposit than most CDs do, at $5,000. It also only offers fewer CD term lengths than many other banks. If you want to set up a CD ladder using CDs from one bank, it might be harder to do that with AbleBanking.

APY for 6-month CD: 4.50% APY

6-month CD early withdrawal penalty: 90 days of simple interest

First Internet Bank of Indiana 6 Month CD

First Internet Bank of Indiana pays a high interest rate on its 6-month term. It also offers a good rate on its 1-year CD.

First Internet Bank of Indiana requires a $1,000 minimum opening deposit; if you're interested in starting a CD with a smaller amount of money, you might want to use another bank. It also compounds interest monthly instead of daily.

APY for a 6-month term: 4.49% APY

6-month CD early withdrawal penalty: 180 days of interest

First Internet Bank of Indiana Review

TotalBank 6 Month CD

TotalBank CDs may be a good choice if you're searching for a variety of short-term CDs with high interest rates.

TotalBank CDs have a steep minimum opening deposit of $25,000 and a maximum deposit of $1 million. The online institution also doesn't operate in Florida, Samoa, Guam, the Northern Mariana Islands, or U.S. Virgin Islands.

APY for 6-month CD: 4.41% APY

6-month CD early withdrawal penalty: 30 days of interest

Rising Bank 6 Month CD

Rising Bank could be a good option if you have at least $1,000 to open an account. The online bank offers strong interest rates on a variety of short-term CDs, especially its 6-month term.

Rising Bank CDs compound interest every three months. Other financial institutions may compound interest monthly or daily. Depending on your account balance, this could make a difference in how much you earn during the term.

APY for 6-month CD: 4.41% APY

6-month CD early withdrawal penalty: 90 days of interest

Rising Bank Review

Bank5 Connect 6 Month High-Yield CD

Bank5 Connect offers a great 6-month CD rate. It has a low minimum opening deposit of $500. If you're not planning on putting a lot of money into your CD, Bank5 Connect might be a good choice for you.

Bank5 Connect doesn't offer a 5-year CD. If you want to open a long-term CD, you might prefer another bank or credit union.

APY for 6-month CD: 4.40% APY

6-month CD early withdrawal penalty: 90 days of interest

Bank5 Connect Review

Quorum Federal Credit Union 6 Month Term Savings

Quorum Federal Credit Union offers a good rate on its 6-month CD. The CD has a low minimum opening deposit of $100, but if you're interested in opening a jumbo CD with at least $100,000, you'll earn a higher interest rate.

The easiest way to join Quorum Federal Credit Union is by becoming a member of the American Consumer Council. You can also join the credit union by being part of a select employer group or by having a direct family member who's already part of the credit union.

APY for 6-month CD: 4.40% (on balances of $1,000 - $99,999) to 4.50% (on balances of $100,000 or more) APY

6-month CD early withdrawal penalty: 1% of amount withdrawn, never to exceed original principal balance

Quorum Federal Credit Union Review

EagleBank 6 Month CD

EagleBank CDs pay competitive interest rates for a variety of terms, including 6-month CDs.

EagleBank has locations in Maryland, Virginia, and Washington, DC, so it can be a great local banking option if you live in these areas. You can also open online CDs ranging from 6 months to 2 years if you don't live near a branch.

You'll only be able to deposit a maximum of $500,000 into a CD.

APY or a 6-month CD: 4.40% APY

6-month CD early withdrawal penalty: 3 months of interest

Popular Direct 6 Month CD

Popular Direct, the online division of Popular Bank, pays high CD rates overall. It also compounds interest daily, which helps grow your money more quickly than monthly or quarterly compounding.

You need at least $10,000 to open a CD with Popular Direct. It also charges relatively high early withdrawal penalties.

APY for a 6-month term: 4.40% APY

6-month CD early withdrawal penalty: 120 days of simple interest

Popular Direct Review

Bank Trustworthiness and BBB Ratings

We've compared each financial institution's Better Business Bureau score. The BBB grades businesses based on factors like responses to customer complaints, honesty in advertising, and transparency about business practices.

Here is each company's score:

TotalBank has an A- rating from the BBB because it hasn't responded to some customer complaints.

EagleBank has been involved in a recent public controversy. In 2022, EagleBank paid a civil penalty of $10 million in a settlement with the Securities and Exchange Commission. According to the settlement, the SEC accused the bank and former CEO and chairman Ronald D. Paul of making false and misleading statements about party loans relating to Paul's family trusts.

Popular has been involved in one recent controversy. In 2023, the Federal Reserve Board fined Popular Direct's parent bank, Popular Bank, $2.3 million. The Federal Reserve Board said the fine was because Popular Bank processed six Paycheck Protection Program loans that had significant signs of potential fraud.

What Makes 6-Month CD Rates Fluctuate? 

Role of the Federal Reserve

CD rates are often impacted by changes in the federal funds rate. The Federal Reserve has a committee that holds meetings where members discuss potential changes to the federal funds rate. 

Generally, CD rates rise when the federal funds rate goes up, and CD rates drop when the federal funds rate goes down. Paying attention to upcoming Fed meetings can help you keep track of when the federal funds rate changes. 

Economic Trends and Market Conditions

Short-term CD rates are higher than long-term CD rates because of the current economic environment. Usually, it's the opposite: long-term CDs tend to offer better rates because you're keeping money in an account for a longer period of time, which benefits the bank.

When the Fed starts cutting rates, CD rates overall will drop more significantly and CD rate trends may change.

Institution-Specific Offers

Banks and credit unions may offer special promotional CDs occasionally to appeal to customers. Currently, many promotional CDs tend to be shorter terms.

How to Maximize Returns with the Best 6-Month CD

To maximize returns on a 6-month CD, make sure to avoid early withdrawal penalties, which can reduce your total interest earnings. Experts recommend choosing a CD term based on your financial goals so you have a purpose assigned to your money and can minimize the chance of needing to make a last-minute withdrawal. 

Reviewing the CD forecast for 2025 may also help with deciding when to lock in a CD rate and which type of account to open.

6-Month CD FAQs

Why You Should Trust Us: Expert Advice on Choosing the Best 6-Month CD

To learn more about what makes a good CD and how to choose the best fit, Business Insider consulted four experts:

BI

Here's what they had to say about CDs. (Some text may be lightly edited for clarity.)

How can someone figure out whether a bank is right for them?

Tania Brown, CFP® professional and vice president of coaching strategy at OfColor:

• It should be FDIC-insured
• It should fit the banking experience you want (A local bank to visit in person? An online bank to use through your phone? The ability to write checks?)

Sophia Acevedo, banking editor, Business Insider:

• Prioritize what matters to you, like whether you can waive a monthly service fee
• Pay attention to rates if you want a high-interest account (it should pay higher than average bank account rates)

How should you choose the right CD term length?

Roger Ma, CFP® professional and author of "Work Your Money, Not Your Life":

• Consider when you need the money
• Compare your timeline with current CD rates to find the best rates for the closest timeline

Mykail James, MBA, certified financial education instructor BoujieBudgets.com:

• Have a goal for the money in that CD
• Consider your timeline for the goal, and choose a term length that matches that timeline

How should you decide between a high-yield savings account, money market account, or CD?

Tania Brown, CFP® professional:

• Start off with how much money you want to put in
• Add the level of transactions you plan to have — CDs won't let you touch the money

Sophia Acevedo, Business Insider:

• A high-yield savings account or money market account are good options for an emergency fund or short-term savings goals
• Money market accounts are worth considering if you want more account accessibility (paper checks, ATM cards, or debit cards)
• CDs could be worthwhile if you don't need access to that money since they have a fixed interest rate for a specific term

Methodology: How We Selected the Best 6-Month CDs

Business Insider's personal finance team regularly monitors 160 banks and credit unions to find which ones offer the most competitive 6-month CD rates nationally.

Then, we reviewed each institution using our bank account methodology to find the most well-rounded banking options. For each account, we compared the minimum opening deposits, early withdrawal penalties, interest rates and miscellaneous features. We also considered the overall banking experience at each bank by assessing customer support availability, mobile app ratings, security, and ethics.

Each feature is scored from 0 to 5, although some features have a larger weight percentage than others. We add up these scores and calculate the weighted average to determine the account's total rating.

The highest rating possible is five stars. The lowest rating possible is one star.