bank rates

6-Month CD Rates Top Out At 1.40% APY

No bank has been able to topple Fort Knox Federal Credit Union from the top of our rankings of the best 6-month CD rates.

This unusual Kentucky credit union has had the best nationally available return since No bank has been able to topple Fort Knox Federal Credit Union from the top of our rankings of the best 6-month CD rates. it boosted its yield to 1.40% APY a little more than a week ago. The minimum deposit is a very reasonable $500.

Unlike most credit unions, Fort Knox Federal allows anyone to join, regardless of where they live or work, and benefit from its far better-than-average rates.

Two banks offering the next best rates on 6-month certificates of deposit have held their returns steady over the past month, even though the average return fell to a new record low of 0.39% APY last week. NewDominion Bank moved into the rankings when it raised its rate last Friday.

Those rates are:

1.25% APY with a minimum deposit of $3,000 from New Dominion Bank, with branches in Charlotte and Mooresville, N.C.

1.25% APY with a minimum deposit of $1,000 from First City Bank, with five branches in the Fort Walton Beach, Fla. area.

1.23% APY with a minimum deposit of $1,000 from Aurora Bank, with one branch in Wilmington, Del. and another in Jersey City, N.J.

Click here to compare those returns with the best CD rates from scores of other banks.

Most credit unions have membership requirements that don’t make it possible for anyone to join – and disqualify them from our rankings.

But anyone can qualify for membership in Fort Knox by joining the American Consumer Council, right on the credit union’s web site.

Just click on “Become a member” on the home page or rate page, then “Click here to get started.” When you’re asked for “Eligibility Criteria,” use the pull-down menu to click on “AMERICAN CONSUMER COUNCIL/KENTUCKY CHAPTER.”

When you complete the application, the credit union will automatically enroll you in the consumer advocacy group and you’ll be able to buy CDs as part of the application process.

Joining the American Consumer Council, a non-profit that promotes financial literacy through credit unions, is free. Joining the credit union costs $15.

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Comments (2)
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2 Existing Comments
  1. DealMaven said:
    on July 26th at 10:07 am

    We checked rates this morning and there were no changes over the weekend. The CD Rates Leaderboard for July 24 is still good.

  2. DealMaven said:
    on July 30th at 03:30 pm

    We have to say goodbye to First City Bank. They have limited applications to residents of Okaloosa, South Santa Rosa and South Walton counties in the Fort Walton Beach, Fla. area.

    The bank had the top rate in several CD rankings since first joining us on April 20.