Savers and investors now have a variety of choices when it comes to earning a desirable rate of return on their short-term savings needs.  Actions by the Federal Reserve have slowly pushed short term interest rate higher and those higher rates are finally showing up in the form of high yield bank CD accounts at select financial institutions.  As of the start of October 2018, there are more than a few banks offering six-month certificates of deposit with interest rates in excess of two percent.

Among the banks with the highest six-month term CDs are the three online banking divisions of Emigrant Bank which includes, EmigrantDirect, DollarSavingsDirect, and MySavingsDirect as well as three other online banking institutions including CD Bank, Popular Direct, and Limelight Bank.   All banks offering the best six-month CD rates listed below provide account holders with an inherent safety net through FDIC insured deposits up to the maximum amount allowable by law.

Emigrant Bank’s online divisions lead the list of the top yielding six-month CD rates available nationally.  All three of Emigrant Bank’s online banking divisions, EmigrantDirect, DollarSavingsDirect, and MySavingsDirect, have CD rates at 2.25%.  In addition to offering the best CD six-month CD rates, these related online institutions promote these accounts with a low minimum deposit requirement of just $1,000.

Limelight Bank, a division of Capital Community Bank, has the second best six-month rate available in all 50 states.  The current six-month CD rate at Limelight Bank sits at 2.15%.  There is a $1,000 minimum deposit requirement to open the account and earn the advertised yield.

CD Bank, the online division of TBK Bank, has the third highest six-month CD rate. CD Bank’s six-month certificate comes with a yield of 2.10%.  The minimum opening deposit for a CD Bank online account is $10,000.00.

Rounding the list of the best six-month bank CD accounts is the certificate available at Popular Direct.  Popular Direct six-month product earns a 2.05% rate of return.  This account has a $10,000.00 minimum balance.  Deposit products at Popular Direct are provided by Popular Bank.

The Annual Percentage Yields (APYs) listed is accurate as of the publication date.  A penalty may be assessed for early withdrawal and could reduce earnings.  All rates are subject to change without notice.  Additional terms and conditions may apply.

Best Six-Month CD Rate Summary:

EmigrantDirect  2.25%  with $1,000.00 minimum deposit
DollarSavingsDirect  2.25%  with $1,000.00 minimum deposit
MySavingsDirect  2.25%  with $1,000.00 minimum deposit
Limelight Bank  2.15%  with $1,000.00 minimum deposit
CD Bank  2.10%  with $1,000.00 minimum deposit
Popular Direct  2.10%  with $1,000.00 minimum deposit

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