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Best 18-month CD rates for November 2024

Best available rates across different account types for Tuesday, November 12, 2024

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Current savings trends
Bankrate Partner average
4.61% APY
National average
0.57% APY

Bankrate’s picks for the top 18-month CD rates

Note: Annual percentage yields (APYs) shown were updated between Nov. 5, 2024 and Nov. 11, 2024. Bankrate's editorial team validates this information regularly, typically biweekly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its listings.

SchoolsFirst Federal Credit Union

Rating: 4.9 stars out of 5
4.9 Bankrate savings score
  • Annual percentage yield

    4.20%
  • Min. deposit to open

    $500

Why SchoolsFirst Federal Credit Union?

SchoolsFirst serves the education community in California. Certain school employees, certain retired school employees and immediate family members of SchoolsFirst Federal Credit Union members are eligible to join. SchoolsFirst offers CDs ranging from 30 days to five years. To open a CD, a $500 minimum deposit is required. If you put in more money you may be rewarded with a higher APY, as SchoolsFirst has five rate tiers: $500, $20,000, $50,000, $100,000 and $250,000.

Limelight Bank

Rating: 3.9 stars out of 5
3.9 Bankrate savings score
  • Annual percentage yield

    4.15%
  • Min. deposit to open

    $1,000

Why Limelight Bank?

Limelight Bank is an online-only bank that’s a division of Capital Community Bank. It’s known for supporting eco-friendly causes such as solar initiatives. The bank offers four CD terms ranging from six months to three years. A minimum deposit of $1,000 is required. Limelight doesn’t offer any types of bank accounts other than CDs.

First Internet Bank of Indiana

Rating: 4.6 stars out of 5
4.6 Bankrate savings score
  • Annual percentage yield

    4.15%
  • Min. deposit to open

    $1,000

Why First Internet Bank of Indiana?

First Internet Bank of Indiana is an FDIC-insured financial institution that operates online and has no branches. It opened in 1999 and offers products in all 50 states. First Internet Bank offers eight terms of CDs, a money market savings account with a competitive yield, a savings account and two checking accounts.

Synchrony Bank

Rating: 4.9 stars out of 5
4.9 Bankrate savings score
  • Annual percentage yield

    4.10%
  • Min. deposit to open

    $0

Why Synchrony Bank?

Synchrony Bank is known for its credit cards and deposit accounts. Its CDs generally earn a competitive yield. Synchrony Bank offers many terms of CDs with terms ranging from three months to five years. Synchrony Bank also offers an 11-month no-penalty CD and a two-year bump-up CD. Synchrony Bank also offers a savings account and a money market account.

America First Credit Union

Rating: 5 stars out of 5
5.0 Bankrate savings score
  • Annual percentage yield

    4.10%
  • Min. deposit to open

    $500

Why America First Credit Union?

America First Credit Union was founded in 1939 in Salt Lake City. It has CDs with terms ranging from three months to five years. The minimum opening deposit for CDs is $500. It also offers a variety of checking and savings accounts.

TAB Bank

Rating: 4.5 stars out of 5
4.5 Bankrate savings score
  • Annual percentage yield

    3.95%
  • Min. deposit to open

    $1,000

Why TAB Bank?

TAB Bank was established in 1998 in Ogden, Utah, as a banking service inside truck stops. TAB (Transportation Alliance Bank) serves businesses and individual customers. It offers several checking accounts, a savings account, a money market account and CDs in six terms, from 12 months to five years.

Capital One

Rating: 4.9 stars out of 5
4.9 Bankrate savings score
  • Annual percentage yield

    3.90%
  • Min. deposit to open

    $0

Why Capital One?

Capital One, based in McLean, Virginia, is an online bank that also has hundreds of branches. Capital One offers nine competitive terms of regular CDs. Capital One’s CDs and 360 Performance Savings account don’t have minimum balance requirements.

Ally Bank

Rating: 5 stars out of 5
5.0 Bankrate savings score
  • Annual percentage yield

    3.90%
  • Min. deposit to open

    $0

Why Ally Bank?

Ally Bank is an online-only bank formerly known as GMAC Bank. Ally offers seven terms of CDs, a no-penalty CD and two terms of a Raise Your Rate CD. The Sandy, Utah-based bank also offers a savings account, an interest-bearing checking account and a money market account. Ally has 11 million customers with deposit accounts.

Marcus by Goldman Sachs

Rating: 4.9 stars out of 5
4.9 Bankrate savings score
  • Annual percentage yield

    3.90%
  • Min. deposit to open

    $500

Why Marcus by Goldman Sachs?

Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA. The online bank has a variety of CDs. This includes nine standard CDs in terms ranging from six months to six years, three no-penalty CDs and a Rate Bump CD. Marcus by Goldman Sachs offers competitive yields on its CDs and high-yield savings account.

Bask Bank

Rating: 4 stars out of 5
4.0 Bankrate savings score
  • Annual percentage yield

    3.90%
  • Min. deposit to open

    $1,000

Why Bask Bank?

Bask Bank offers six CD terms ranging from three months to two years. The bank also offers a savings account with a competitive APY and another savings account that earns American Airlines miles. Bask Bank has been around since 2020 and is a division of Texas Capital Bank.

Alliant Credit Union

Rating: 4.7 stars out of 5
4.7 Bankrate savings score
  • Annual percentage yield

    3.80%
  • Min. deposit to open

    $1,000

Why Alliant Credit Union?

Alliant Credit Union was founded in 1935 as the United Airlines Employees’ Credit Union. It is one of the largest credit unions in the nation and has 800,000 members nationwide. Alliant offers eight terms of CDs with competitive APYs and a reasonable minimum deposit requirement. It also offers IRA CDs, a high-yield savings account and a high-yield checking account.

What is an 18-month CD?

With a CD, you agree to leave your money in the account for a set period of time — in this case, 18 months. In return for your commitment to leave the money alone, you receive a higher yield than you would earn in a savings account.

With an 18-month CD, your annual percentage yield (APY) is locked in, so you don’t have to worry about your bank potentially lowering the rate on your account before the term ends.

An 18-month CD can be ideal for setting aside money for short-term goals, such as going on vacation or saving for a car down payment. You can also use an 18-month CD as a rung in a CD ladder.

Here are the top widely available 18-month CD rates. Compare these offers, then calculate how much interest you would earn when your CD matures.

How to find the best 18-month CD rates

An 18-month CD is a low-risk investment, although not all CDs are created alike when it comes to APY. But before you purchase an 18-month CD, it’s important to do some research before committing your funds to one.

Taking the time to find the best CD rate can translate to significantly higher interest earnings. “It’s advised that you shop around when searching for CDs,” says Christopher Stroup, CFP, founder and president of Silicon Beach Financial. “For example, online banks tend to offer much higher rates than traditional brick-and-mortar banks. If you’re okay with an online banking relationship, this could be a great opportunity to lock in a better rate.”

Before opening an 18-month CD, it’s also important to make sure you won’t need access to the money before the CD matures. “When considering 18-month CDs, first understand what this lockup period could mean for your personal finances,” Stroup says. “If this money is meant for a future expense or set aside as your emergency reserve, be careful to read the fine print surrounding early withdrawals and penalties should you need the funds prior to the end of the CD term.”

18-month CD FAQs

Research methodology

At Bankrate, we strive to help you make smarter financial decisions. We follow strict guidelines to ensure that our editorial content is unbiased and not influenced by advertisers. Our editorial team receives no direct compensation from advertisers and our content is thoroughly fact-checked to ensure accuracy.

Bankrate regularly surveys around 70 widely available financial institutions, made up of the biggest banks and credit unions, as well as a number of popular online banks.

To find the best CDs, our editorial team analyzes various factors, such as: annual percentage yield (APY), the minimum needed to earn that APY (or to open the CD) and whether or not it is broadly available. All of the accounts on this page are insured by the Federal Deposit Insurance Corp. or the National Credit Union Share Insurance Fund.

When selecting the best CD for you, consider the purpose of the money and when you’ll need access to these funds to help you avoid early withdrawal penalties.