As bank interest have continued to climb higher in 2018, savers can now find CD rates at 2.00% or higher on a number of short term, six-month certificates of deposit.  A variety of different financial institutions are promoting these rates with a diverse assortment of deposit requirements.  All FDIC insured.  With additional Federal Reserve rate hikes potentially on the horizon, the 6-month certificates can be a savvy buy.

The majority of high interest rate CDs currently on the market are available through online only financial institutions.  Banks and banking divisions such as Popular Direct, My Banking Direct, Limelight Bank and MySavingsDirect lead the list of institutions offering high yield six-month CD accounts nationwide.  Along with these FDIC insured banks, a couple of big name non-bank financial institutions including Fidelity and Vanguard, offer six month term brokered CDs with interest rates at or above 2.00%.  Brokered CDs are CDs issued by banks for the customers of brokerage firms.  These accounts are also FDIC insured by the issuing institution.

MySavingsDirect, an online banking division of Emigrant Bank, leads the list of six-month certificates with an account that yields 2.15%.  The bank CD has a low minimum deposit balance of only $1,000.00.

Two online banks are currently promoting six month maturing CDs with Annual Percentage Yields (APY) at 2.05%.  Popular Direct, a division of Popular Bank headquartered in New York, and Limelight Bank, a division of Capital Community Bank based in Utah, each have CDs at 2.05%.   Popular Direct requires a $10,000.00 minimum balance to earn the advertised rate while Limelight Bank commands a smaller, $1,000.00 minimum deposit.

Rounding out the top banks with high yield, short term CD accounts is My Banking Direct, a service of New York Community Bank.  My Banking Direct promotes a six-month CD with an interest rate of 1.99% and a 2.00% APY.  There is a minimum of $2,500.00 needed to open the account and earn the stated APY.

Along with listed banks above, the big financial service powerhouses, Vanguard and Fidelity, have insured CDs with yields at or above 2.00%.  Brokered CDs are very similar to CDs purchased directly through a bank.  Both types of CDs as the institutions listed pay a fixed interest rate.  Both institutions will repay the account holders their principal with interest if they are held to maturity.   Because the deposits are obligations of the issuing bank, and not the brokerage firm, FDIC insurance applies

The Annual Percentage Yields (APYs) listed are accurate as of the publication date.  Penalties may be assessed for early withdrawal of funds from the accounts and this could reduce earnings.  All rates are subject to change without notice.

Further information can be obtained by contacting the banks and other financial institutions directly.  MySavingsDirect has a 24-hour customer service that can be reached at 877-752-1919.   Limelight Bank customer service can be reached at 1-800-639-6015.  Bank representatives for Popular Direct are available at 1-800-274-5696.  My Banking Direct can be reached at (866) 285-1856.  Fidelity’s customer service can be found at 800-343-3548.  And additional information at Vanguard can be obtained by calling 800-252-9578.

Although strives to provide the most accurate data possible, we cannot guarantee its accuracy.  The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account.

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