bank rates

Top 6-Month CD Rates Hold At 2.0% APY

The best-pyaing 6-month CD is still paying 2.0% APY in our August rankings, exactly what it earned last month.There’s still one bank offering 2.00% APY on 6-month certificates of deposit, just as there was the last time we ranked the best 6-month CD rates at the end of July.

That passes for progress in short-term CDs right now.

The average rate for 6-month CDs fell to 0.71% last week, the lowest it’s been since Bankrate began tracking 6-month CD rates more than 25 years ago.

The fact that the best deals we’re seeing on those CDs are comparable to the best deals we saw a month ago provides at least a little hope that interest rates may be close to bottoming out after declining for most of the past two years.

With so many banks paying next-to-nothing for your savings, you’ve got to take advantage of these top rates for nationally-available, 6-month CDs to make any money at all:

2.00% APY with a $1,000 minimum from United Central Bank, which is based in Garland, Texas, and has branches in Texas, Virginia, California, Maryland, Illinois and Georgia.

1.80% APY with an $8,000 minimum deposit from UFB Direct. CDs sold at UFBDirect actually come from Waterfield Bank, which has a couple of full-service offices in Carmel, Ind., and Germantown, Md.

1.80% APY with an $500 minimum deposit from Country Bank, with 14 locations in the Ware, Mass., area.

You can open an account online at United Central and UFB Direct. Country Bank CDs must be bought by mail. Call the bank to get started.

Click here to compare these rates with the best CD rates from dozens of other banks in our extensive database.

This CD calculator can calculate the return on any certificate of deposit, regardless of size, interest rate or term.

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  1. DealMaven said:
    on September 1st at 11:16 am

    We said the top rate on a 6-month CD was 2.0% APY just yesterday. Well, that’s no longer true.

    United Central Bank slashed its rate by a full point today. That CD is now paying 1%, which wouldn’t rank it on anyone’s charts. It also lowered the APY on its 12-month CD to 1.25% from 2.25%.

    We’re thinking that the high rates United Central paid this summer got them all the money they wanted. They obviously don’t need deposits anymore.