Where To Find The Best 6-Month CDs

This might be a good time to go short if you think interest rates are finally hitting bottom and will start heading upward this fall.

Just don’t settle for a 6-month certificate of deposit that’s paying the national average of 1.07% APY — or less.

These top-paying CDs are available nationwide:

2.30% APY with a $1,000 minimum deposit from Ebank, an online bank with one office in Atlanta.

2.25% APY with a $500 minimum deposit from GMAC Bank, an online bank run by the auto financing company.

2.25% APY with a $500 minimum deposit Ascencia Bank, an online operation of Porter Bancorp, which also owns PBI Bank of Louisville, Ky.

You can often find deals that are just as good — sometimes even better — at credit unions and community banks that only accept deposits from members or local customers.

Here are a few examples:

CommunityWide FCU, which serves a residents of the South Bend and Elkhart, Ind., area, is paying 2.70% with a minimum deposit of $2,000.

Severn Bank, of Annapolis, Md., is paying 2.25% with a $1,000 minimum deposit.

Imperial Capital Bank, with branches in California, Nevada and Maryland, is paying 2.10% with a $2,000 minimum deposit.

Stephen Colbert dives into the fray over slimy lending with a hilarious look at the effort to legitimize payday loans — and 780% interest rates — in Congress. Catch the video on Bankaholic’s Personal Finance Blog, which you can always reach by clicking on the “finance” tab above.