bank rates

6-Month CD Rates Are Consistently Bad

For the fourth straight month, the top nationally available 6-month CD rates are stuck at 0.88% APY on our CD Rates Leaderboard.

This further proves that there really are no winners among short-term CD rates right now. (See last week’s post on 3-month CDs.)

Leader Doral Bank Direct (, the online bank of Doral Bank, which is the leading community bank in Puerto Rico that also has five branches in northwest Florida and two in New York City, requires a $500 minimum deposit.

EH National Bank (, which has a single branch in Beverly Hills, Calif., offers the second-best rate of 0.85% APY and requires a $10,000 minimum deposit.

chart showing the average and best nationally available 6-month cd rates.

Two banks pay 0.70% APY:

Colorado Federal Savings Bank (, which is an online bank based in Greenwood Village, Colo., requires a $5,000 minimum deposit.

The FDIC-insured Chicago branch of State Bank of India (, India’s largest bank, which operates independently of other U.S. branches, requires a $2,500 minimum deposit.

Seven banks pay 0.65% APY:

AloStar Bank of Commerce (, which is an online bank based in Birmingham, Ala., requires a $1,000 minimum deposit.

Ascencia (, the online division of PBI Bank, which has 18 branches in Kentucky, requires a $500 minimum deposit.

BAC Florida Bank (, which has one location in south Florida and sells its products nationally through My e-BAnC, requires a $500 minimum deposit.

Discover Bank (, which is an online bank owned by the credit card company, requires a $2,500 minimum deposit.

GE Capital Bank (, one of two online banks, each with its own FDIC insurance, that are subsidiaries of GE Capital Corp., the financial services unit of the manufacturing giant, requires a $500 minimum deposit.

GE Capital Retail Bank (, also a subsidiary of GE Capital Corp., requires a $25,000 minimum deposit.

Virtual Bank (, which is the online division of Sabadell United Bank, based in Miami, requires a $10,000 minimum deposit.

Large banks and thrifts continue to pay an annual average yield of 0.15% for 6-month CDs.

Banks qualify for our rankings by imposing no restrictions on who can buy their certificates of deposit, either online or through the mail.

Compare these returns with the best CD rates from scores of banks in our extensive database.

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