Updated 30 March 2026
Best 6-Month CD Rates
The sweet spot for short-term savers. Lock in 4.45% to 4.60% APY for half a year. Here are the top banks ranked by rate with minimums and penalties.
Bread Financial
4.60%
APY
Minimum
$0
Early penalty
90 days interest
Interest on $25K
$575
Online-only bank. Formerly Comenity Direct. No minimum deposit. Rates consistently among the highest for short-term CDs.
BMO Alto
4.50%
APY
Minimum
$1,000
Early penalty
90 days interest
Interest on $25K
$563
BMO's online banking brand. Clean interface, FDIC insured through Bank of Montreal. $1,000 minimum is the main barrier.
CIT Bank
4.45%
APY
Minimum
$0
Early penalty
3 months interest
Interest on $25K
$556
Part of First Citizens BancShares. No minimum deposit. Solid reputation and consistently competitive rates.
Discover
4.30%
APY
Minimum
$2,500
Early penalty
3 months interest
Interest on $25K
$538
Well-known brand with excellent customer service. $2,500 minimum. Also offers a no-penalty 7-month CD.
Ally
4.25%
APY
Minimum
$0
Early penalty
60 days interest
Interest on $25K
$531
Lowest early withdrawal penalty of any major bank. No minimum. Great for savers who want a safety valve.
Frequently Asked Questions
What is the highest 6-month CD rate right now?
As of March 2026, Bread Financial offers 4.60% APY on a 6-month CD with no minimum deposit. BMO Alto offers 4.50% with a $1,000 minimum. CIT Bank offers 4.45% with no minimum. These rates change frequently so verify on the bank's website before opening.
When does a 6-month CD make sense?
A 6-month CD is ideal for money you know you will need in about 6 months: a tax payment, a planned purchase, or the first rung of a CD ladder. It is also good for testing CD investing before committing to longer terms. The short lock-in means less risk of needing early withdrawal.
Are 6-month CD rates higher than 1-year rates?
Currently yes. Short-term CDs (3 to 6 months) often have higher rates than longer-term CDs in an environment where the market expects future rate cuts. This is called an inverted yield curve. Banks offer higher short-term rates because they expect to pay less later.