6 month CD Rates
A 6 month CD (certificate of deposit) is a time deposit, FDIC-insured up to $250,000, with a fixed maturity date of six months. It usually pays higher interest than a savings account and a penalty is typically charged for withdraws before maturity.
The yield on a 6 month bank CD is higher than the rate because the yield factors in compounding. Banks offer daily, monthly and quarterly compounding rates. Different banking institutions also have varying minimum deposit requirements. Most banks require a deposit of between $0-$25,000, however, some banks may require more.
Best 6 month CD rates
| Bank Rank | Name of Bank | Investment Type | Duration | RATE | Compounded: | Min. Deposit |
|---|---|---|---|---|---|---|
| 1 | State Bank of India | Bank CD | 6 mo | 1.36 | Quarterly | $5000 |
| 2 | Aurora Bank | Bank CD | 6 mo | 1.34 | Daily | $1000 |
| 3 | Nexity Bank | Bank CD | 6 mo | 1.33 | Daily | $1000 |
| 4 | Excel National Bank | Bank CD | 6 mo | 1.33 | Monthly | $10,000 |
| 5 | Ascencia Bank | Bank CD | 6 mo | 1.31 | Monthly | $500 |
6 Month Bank CD Rates
The six month bank CD offers decent rates which provide liquidity and flexibility for an investor. The six month CD is also, arguably, one of the best/safest investments you can make in an economical downturn. Investing in 6 month bank certificates of deposit allows your money to earn interest while keeping it available should you wish to invest in other investment vehicles in the near future. When compared to other CD durations, the six month CD offers competitive rates, sometimes the rate of a 6 month CD will yield the same (or better) rates than the 12 month certificate of deposit. The six month CD is turning out to be one of the most popular bank deposit products, due to the combination of stability, rate, and yield. In this uncertain market one can clearly see why the safety and security of FDIC insured are paramount to a safe and sound portfolio.
