CD Valet Ratewatcher Top 6-Month Rate Picks of the Week

Despite the FOMC forecasting three rate cuts in 2024, the Federal Reserve Committee predicts rates as high as 5% sticking around for longer due to the slower-than-expected drop in inflation rates.

Higher interest rates have been the Federal Reserve’s strategy to lower inflation. However, despite the most recent report showing April’s inflation rates dropping to 3.36%, it’s still not enough to reach the Fed target of 2%.

But if rates continue holding steady, now is the time for savers to opening a CD as we continue to see more high-rate, short-term CDs. Check out our Ratewatcher 6-Month Rate Picks of the Week for the top cd rates:

Credit Unions                        Banks

6.13% APY
6 Month
$1,000 minimum deposit
IBEW 76 Federal Credit Union
Insured by NCUA
5.50% APY
6 Month Bump Up
$500 minimum deposit
First Bank of Central Ohio
Member FDIC
5.75% APY
6 Month
$1,000 minimum deposit
Tee-Pak Credit Union
Member FDIC
5.50% APY
6 Month
$500 minimum deposit
DR Bank
Member FDIC
5.65% APY
6 Month
$25,000 minimum deposit
Instep Credit Union
Insured by NCUA
5.50% APY
6 Month
$500 minimum deposit
Legacy Bank & Trust Company
Member FDIC
5.65% APY
6 Month
$1,000 minimum deposit
Kings Peak Credit Union
Insured by NCUA
5.50% APY
6 Month
$500 minimum deposit
Ohio State Bank
Member FDIC
5.51% APY
6 Month
$500 minimum deposit
San Juan Credit Union
Insured by NCUA
5.50% APY
6 Month
$2,500 minimum deposit
Vast Bank N.A.
Member FDIC
5.50% APY
6 Month
$200 minimum deposit
Inova Federal Credit Union
Insured by NCUA
5.50% APY
6 Month
$1,000 minimum deposit
Mountain View Bank of Commerce
Member FDIC
5.50% APY
6 Month
$100,000 minimum deposit
Pittsburgh City Hall Employees Federal Credit Union
Insured by NCUA
5.49% APY
6 Month
$1,000 minimum deposit
Washita State Bank
Member FDIC
5.50% APY
6 Month
$500 minimum deposit
Utica Gas & Electric Employees Federal Credit Union
Insured by NCUA
5.47% APY
6 Month
$1,000 minimum deposit
Charles Schwab Bank SSB
Member FDIC

*Annual percentage yields (APY) not offered by CD Valet but based on data from various institutions as of 5/24/24 and subject to change. Early withdrawal penalty and additional restrictions may apply.

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