Six month CD rates have crawled higher over the past few weeks.  The rate increases found on the best six month term certificates are far from reaching levels that draw national attention but the rate increases are taking place during a time that comparable savings rates and fixed income asset returns are moving sideways at best.

The average CD rate for the top ten highest six month bank CD rates available nationally increased to 0.747% on July 11, 2014.  In mid June, the average rate for the best six month CDs was at 0.737% or a one basis point change during the survey period.  During that same period, six month Treasury rates moved from hardly moved, trading between 0.04% and 0.07% with an average rate of 0.06% between mid June and mid July.

There was very little change among the top performing CD accounts between June and July.  The highest six month CD rate available nationally is at Doral Bank’s online banking division, Doral Direct.  Doral Direct promotes a six month CD with an interest rate of 0.87%. 

Bank5 Connect, the online banking division of BankFive based in Massachusetts, has the second best six month CD rate two basis points lower at 0.85%.  

Two banks hold the number three spot in the rankings for best short term CD rates.  The National Republic Bank of Chicago and EH National Bank have CD rates on six month certificates that yield 0.80%.

Rounding out the list of the top ten best six month CD rates are the AloStar Bank six month CD rates at 0.75%; GE Capital Bank CD rates, Colorado Federal Savings Bank CD rates, and BAC Florida Bank CD rates at 0.70%; and Virtual Bank and Synchrony Bank CD rates at 0.65%.

A detailed list of the top bank rates can be found at the rate table titled, best six month CD rates.  The listed bank data at this rate table includes the bank name, current bank rate, the bank web address, and the bank’s customer service contact number. 

The bank and bank CD rate information may have changed since this publication date.  Check with the bank directly for the most up to date and accurate information.  All banks listed are FDIC insured institutions.

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