18 top 6-month CDs for December 2023

If you're looking for a simple way to grow your savings balance, there are lots of good options to consider right now. For starters, many high-yield savings accounts are offering interest rates above 5%, so putting your money in that type of account can result in some big returns over time — especially compared to what you'd get with a regular savings account.

But high-yield savings accounts aren't your only option. Certificates of deposit (CDs) are another great option to consider, as today's high-rate environment has led to banks and credit unions offering hefty interest rates on these accounts. That's especially true for shorter-term CDs, which currently offer some of the best rates you can find on interest-bearing accounts. 

And, 6-month CDs are no exception. By putting your money in a 6-month CD, you can lock in a rate that far surpasses what you can get on similar accounts — and because these rates are fixed, you'll earn that same rate for the full CD term. And, there are lots of good options to choose from, starting with the CDs outlined below.

Explore the best CD rates available to you here.

18 top 6-month CDs for December 2023

If your goal is to find the best 6-month CD rate available right now, it may be worth considering the following options: 

• West Town Bank & Trust – 5.88% APY: There is a $10,000 minimum opening deposit requirement with this CD; the early withdrawal fee is equal to three months of interest
• TotalDirectBank — 5.76% APY: There is a $25,000 minimum opening deposit requirement with this CD; the early withdrawal fee is one month of interest
• BluPeak Credit Union — 5.75% APY: There is a $250 minimum opening deposit requirement with this CD; the early withdrawal fee is three months of interest
• Interior Federal Credit Union — 5.75% APY: There is a $25,000 minimum opening deposit requirement via ACH with this CD; the early withdrawal fee is one month of interest
• INOVA Federal Credit Union — 5.75% APY: There is a $200 minimum opening deposit requirement with this CD; the early withdrawal fee is three months of interest
• Forbright Bank — 5.75% APY: There is a $1,000 minimum opening deposit requirement with this CD; the early withdrawal fee is equal to three months of interest
• Air Force Federal Credit Union — 5.70% APY: There is a $1,000 minimum opening deposit requirement with this CD; the early withdrawal fee is equal to half of the dividends that would have accrued from the withdrawal date to the maturity date, as well as a $10 early withdrawal charge
• NASA Federal Credit Union — 5.70% APY: There is a $1,000 minimum opening deposit requirement with this CD; if you withdraw your money early, penalties apply
• Financial Resources Federal Credit Union — 5.64% APY: There is a $500 minimum opening deposit requirement with this CD; the early withdrawal penalty is six months of interest
• BECU — 5.60% APY: There is a $500 minimum opening deposit requirement with this CD; the early withdrawal penalty is 30 days of interest
• Bask Bank — 5.55% APY: There is a $1,000 minimum opening deposit requirement with this CD; the early withdrawal penalty is 90 days of interest
• Popular Direct — 5.55% APY: There is a $10,000 minimum opening deposit requirement with this CD; if you withdraw your money early, penalties apply
• BMO Alto — 5.50% APY: There is no minimum opening deposit requirement with this CD; the early withdrawal penalty is 90 days of interest
• Vio Bank — 5.35% APY: There is a $500 minimum opening deposit requirement with this CD; the early withdrawal penalty is 1% of the amount withdrawn and a $25 fee
• LendingClub Bank — 5.30% APY: There is a $2,500 minimum opening deposit requirement with this CD; the early withdrawal penalty is 90 days of simple interest
• TAB Bank — 5.27% APY: There is a $1,000 minimum opening deposit requirement with this CD; the early withdrawal penalty is 90 days of interest
• Synchrony Bank — 5.25% APY: There is no minimum opening deposit requirement with this CD; the early withdrawal penalty is 90 days of simple interest
• Live Oak Bank — 5.20% APY: There is a $2,500 minimum opening deposit requirement with this CD; the early withdrawal penalty is 90 days of interest

Learn more about the CD rates you could get here.

The bottom line

It's a great time to take advantage of what short-term CDs can offer you — and that's true of 6-month CDs in particular. These types of CDs are offering some of the highest rates available right now, but you may not want to wait to lock them in. There are lots of questions about where the economy is headed, and if rates drop, there may not be another chance to snag these types of returns.