bank rates

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.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (4)
1 Star2 Stars3 Stars4 Stars5 Stars (7 votes, average: 3.57 out of 5)
4 Existing Comments
  1. Andy said:
    on April 16th at 11:57 pm

    Ascencia is already down to 2.15% APY.

  2. Charles said:
    on April 24th at 03:03 pm

    Most of these are not that strong of financial institutions…
    You can check them out for star ratings here…

  3. Robert said:
    on April 24th at 03:15 pm

    I’m thinking about putting some money into Discover Bank’s 5 year CD with a 3.60% APY. According to that chart, that would be close to the rate back in April 2007 for a 6 month CD. Not sure what a 5 year CD was back then, but I’m sure it was much higher. Anyway, if I keep the money in there for two years as hopefully rates tick upward, then I can withdraw the money and even with penalties still have a better return than I’d get on a lot of the savings accounts and CD’s that are hovering around 2.0 – 2.7% and rates just seem to keep going lower.

  4. I doubt it said:
    on May 13th at 10:56 pm


    I doubt it. Most CDs stipulate that if you withdraw/close EARLY you are paid ZERO interest or the penalty for early withdraw is greater than interest paid to date!!!