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Online banks and credit unions have higher interest rates than the average CD. The most competitive 18-month CDs offer more than 5% APY.
The best 18-month CD rate is
We check rates daily to find the best rates for 18-month terms. Here are our top picks.
Best 18-Month CDs
Market Leader
USAlliance Financial 18 Month Certificate - Product Name Only :USAlliance Financial 18 Month Certificate - APY APY
USALLIANCE Financial is a credit union, but you can become a member regardless of where you live in the United States. Anyone can join by becoming a member of the American Consumer Council, Arc of Westchester, Tread Lightly!, or Council of Community Services. You may also join USALLIANCE Financial if you live in a select area in Massachusetts, Connecticut, New Jersey, or New York, or work for a select employment group.
Top 18-Month CD Rates
Newtek Bank 18 Month CD - Product Name Only :Newtek Bank 18 Month CD - APY APYPopular Direct 18 Month CD - Product Name Only :Popular Direct 18 Month CD - APY APYPenFed Credit Union 18 Month Money Market Certificate - Product Name Only :PenFed Credit Union 18 Month Money Market Certificate - APY APYLimelight Bank 18 Month Online CD - Product Name Only :Limelight Bank 18 Month Online CD - APY APYAlliant 18 Month Certificate - Product Name Only :Alliant 18 Month Certificate - APY APYCIBC Agility 18 Month CD - Product Name Only :CIBC Agility 18 Month CD - APY APYSynchrony 18 Month CD - Product Name Only :Synchrony 18 Month CD - APY APYBarclays 18 Month Online CD - Product Name Only :Barclays 18 Month Online CD - APY APY
Compare the Best 18-month CDs
18-Month CD FAQs
What is the highest paying 18-month CD?
USALLIANCE Financial has the highest CD rate for an 18-month term. It pays
Is an 18-month CD a good idea?
An 18-month CD might be worthwhile if you can keep money in an account for at least 18 months. When choosing a CD, you also want to be mindful of opening requirements and early withdrawal penalties.
How does an 18-month CD work?
Traditional CDs lock in your rate for a specific term. Let's say, for example, you want to open an 18-month CD that pays 5.50% APY. You'll earn 5.50% APY for 18 months — the rate won't fluctuate until your term ends. If you choose the renew your CD after it matures, you'll earn the new rate that is currently offered by your bank.
Which is better: a short-term CD or a long-term CD?
Typically, your choice will likely depend on how soon you plan to need the money. For example, if you want the money to buy a house in less than a year, a longer term isn't the best idea. If you don't need access to your money soon and you're searching for a low-risk option, a CD might be a worthwhile option. Many experts recommend CD laddering. With this strategy, you open multiple CDs with different term lengths so you can take advantage of higher rates with longer terms, but also access some of your money earlier.
Is an 18-month CD a good investment?
CDs are generally viewed as a savings account. CDs are a low-risk option since you're guaranteed fixed returns as long as you keep your money in an account for an entire time. Your potential gains, however, are limited. If you're comfortable parting with your money for longer and want to take more risk with your money, then you may want to invest in the stock market.
18-Month CD Reviews
These are our picks for the best 18-month CD rates. Our top picks for CDs are protected by FDIC or NCUA insurance. If you are worried about banks failing, keep in mind money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.
USAlliance Financial 18 Month Certificate - Product Name Only
USALLIANCE Financial Share Certificates offer a high rate for an 18-month term. Certificates at USALLIANCE Financial also have low minimum opening deposit requirements.
USALLIANCE Financial has steep early withdrawal penalties. Also, to open a bank account at the credit union, you must become a member.
You may join USALLIANCE Financial if you live in a select area in Massachusetts, Connecticut, New Jersey, or New York; work for a select employment group; or become a member of the American Consumer Council, Arco of Westchester, Tread Lightly!, or Council of Community Services.
Interest for an 18-month CD:
18-month CD early withdrawal penalty: 360 days of interest
Newtek Bank 18 Month CD - Product Name Only
Newtek Bank CDs pay competitive interest rates for a variety of terms. You also might like this account if you're comfortable with online-only banking or if you're also looking for a high-yield savings account.
Newtek Bank CDs require a minimum opening deposit of
Interest for an 18-month CD:
18-month CD early withdrawal penalty: 180 days of interest
Popular Direct 18 Month CD - Product Name Only
Popular Direct CDs have high interest rates, and compound interest daily.
You'll need at least
APY for 18-month CD:
18-month CD early withdrawal penalty: 270 days of simple interest
PenFed Credit Union 18 Month Money Market Certificate - Product Name Only
PenFed has a variety of CD terms, ranging from six month to seven years. The credit union is also one of the best banks and credit unions for military members.
The easiest way to join PenFed is by opening up a savings account. You may also be eligible for membership at the credit union if you are a member of the military, employee of an eligible association or business, employee of certain U.S. government agencies, worker or volunteer at the American Red Cross, resident of certain areas, or family member of anyone who falls into one of these groups.
Keep in mind PenFed charges steep early withdrawal penalties on certificates. If you are worried about withdrawing money early, you might consider one of the other options on our list or one of the best no-penalty CDs.
APY for 18-month CD:
18-month CD early withdrawal penalty: All interest earned if withdrawal is within the first year of account opening OR 30% of the interest you would have earned if the certificate reached maturity
Pentagon Federal Credit Union Review
Limelight Bank 18 Month Online CD - Product Name Only
The Limelight Bank Online CD pays a high interest rate on its 18-month term. Limelight Bank, an online division of CCBank, is also included in our best 1-year CD rates guide.
You'll need at least $1,000 to open a CD. Some of our other picks let you open an account with $500 or less.
APY for 18-month CD:
18-month CD early withdrawal penalty: 90 days of interest
Alliant 18 Month Certificate - Product Name Only
Alliant Certificates are a solid option if you're searching for a competitive interest rate on an 18-month term. Alliant also has reasonable early withdrawal penalties.
Credit unions require you to become a member to open an account. The easiest way to become a member regardless of where you live in the U.S. is to join Foster Care to Success, and Alliant will cover your $5 joining fee.
APY for 18-month CD:
18-month CD early withdrawal penalty: Up to 120 days of interest
CIBC Agility 18 Month CD - Product Name Only
Why it stands out: CIBC Bank USA, the U.S. division of the Toronto-based bank Canadian Imperial Bank of Commerce, has competitive CD rates on 1-year and 18-month terms.
CIBC USA also has a
APY for 18-month CD:
18-month CD early withdrawal penalty: 30 days of interest
Synchrony 18 Month CD - Product Name Only
Synchrony CDs may be appealing if you want to bank with a well-known online financial institution. Synchrony CD rates pay well above the national average for a variety of terms.
They're also great if you want a CD with easy opening requirements. You may open an account with
APY for 18-month CD:
18-month CD early withdrawal penalty: 180 days of interest
Barclays 18 Month Online CD - Product Name Only
Barclays Online CDs may be a good choice if you're looking for an account that's easy to open. Barclays lets you open CDs with
Keep in mind other financial institutions may offer higher CD rates right now.
Interest for an 18-month CD:
18-month CD early withdrawal penalty: 90 days of simple interest
Other 18-Month CDs We Considered
- Signature Federal Credit Union Certificate: Signature Federal Credit Union pays
Signature Federal Credit Union 18 Month Certificate - APY APY on an 18-month term, but our top picks have more lenient opening requirements or higher rates. - Marcus High-Yield CD: The Marcus 18 Month CD has a high interest rate of
Marcus 18 Month CD - APY APY, but our top pick offer even higher rates or lower minimum opening deposit requirements. - Rising Bank: Rising Bank offer a competitive interest rate on an 18-month term. Our top picks offer even higher rates or offer more lenient opening requirements.
- Gulf Coast Federal Credit Union: Gulf Coast FCU is a local financial institution in Texas. It has an 18-month CD rate that's high, but our top picks have even more competitive rates. It still might be worth considering if you live in Nueces, San Patricio, or Jim Wells County and prioritize banking locally.
- Crescent Bank:
Crescent Bank CD - Brand Name 's 18-month CD paysCrescent Bank 18 Month CD - APY APY, which is just short of the top rates on our list. - CFG Bank: The
CFG Bank CD - Brand Name 18 Month CD offersCFG Bank 18 Month CD - APY APY, which is lower than our top picks. - MYSB Direct: MYSB has a strong 5-year CD, but its 18-month term isn't as competitive as our top picks.
- Capital One: Capital One's 18-month CD pays
Capital One 18 Month 360 CD - APY APY. Our top picks offer more competitive rates, though. - Sallie Mae CD: Sallie Mae has a lower interest rate on its 18-month term than our top picks.
- First Internet Bank of Indiana CD: First Internet Bank of Indiana has an 18-month term that pays
First Internet Bank of Indiana 18 Month CD - APY APY, but our top picks have higher CD rates right now. - Ally High Yield CD: Ally has an 18-month term paying
Ally 18 Month High Yield CD - APY APY, but our top picks have even higher interest rates right now. - Discover CD: Discover's 18-month term pays
Discover 18 Month CD - APY APY, but you'll need at least $2,500 to open an account. Our top picks offer higher CD rates or a lower minimum opening deposit. - LendingClub CD: LendingClub offers an 18-month CD that pays
LendingClub 18 Month CD - APY APY, but our top picks have lower minimum opening deposit requirements or even higher rates. - Air Force Federal Credit Union Certificate Account: Air Force Federal Credit Union has a solid interest rates on its 18-month term, but our top picks have even higher rates.
- CIT Bank Term CD: CIT Bank has variety of CD terms, but our top picks have higher interest rates for an 18-month term.
- Citi Fixed Rate CD: Citi CDs have a $500 minimum opening deposit. But if you're strictly searching for a high rate, our top picks might be a better choice.
- Bask Bank CD: Bask Bank has fewer term options than most of our top picks. Its CD rates are also lower than our top picks.
- Live Oak Bank CD: Live Oak CDs require at least $2,500. Our top picks have lower minimum opening deposits.
- Bethpage Federal Credit Union Certificate Account: Bethpage offers a high interest rate on some CDs. Its 18-month CD doesn't stand out as much as our top picks.
- Nationwide CD: Nationwide offers a solid interest rate on its 18-month CD, but our top picks pay higher interest rates.
- EverBank CD: EverBank has a variety of CD terms, but our top picks offer even higher rates.
- American Express® CD: American Express has a low minimum opening deposit, but our top picks pay higher interest rates.
- Bank5 Connect High-Yield CD: Bank5 Connect has solid CD rates on short-term CDs, but its 18-month CD doesn't stand out as much our top picks do.
- Navy Federal Credit Union Standard Certificate: Navy Federal Credit Union has solid interest rates, but our top picks have higher interest rates.
- Charles Schwab Bank CD: Charles Schwab has brokered CDs, meaning Charles Schwab doesn't actually own the CD. Instead, Charles Schwab acts as the middleman for you and the bank that owns the CD. Depending on your preferences, you may prefer open a CD directly with the financial institution.
- TAB Bank CD: TAB Bank's 18-month CD offers a lower interest rate than our top picks.
- Quorum Federal Credit Union Term Savings: Quorum Federal Credit Union's 18-month CD isn't as competitive as some of its other terms.
Bank Trustworthiness and BBB Ratings
We've compared each company's Better Business Bureau score. The BBB grades businesses based on factors like responses to customer complaints, honesty in advertising, and transparency about business practices.
Here is each company's score:
| Institution | BBB rating |
| USALLIANCE Financial | D- |
| Newtek Bank | A+ |
| Popular Direct | A+ (Rating for its parent bank, Popular Bank) |
| PenFed | A+ |
| Limelight Bank | A+ (Rating for its parent bank, CCBank) |
| Alliant Credit Union | A+ |
| CIBC USA | A+ (F rating for its parent bank, CIBC) |
| Synchrony | A+ |
| Barclays | A+ |
USALLIANCE Financial received a D- rating from the BBB because it has failed to respond to six customer complaints on the BBB website.
The BBB gives CIBC Bank USA an A+ rating. However, its parent company CIBC has an F rating because the BBB has received numerous complaints, and the bank hasn't responded to or resolved some complaints.
A good BBB rating doesn't necessarily mean that your relationship with the bank will be perfect. Talk to current customers or read online customer reviews to get a more well-rounded perspective about whether the bank may be ideal for you.
In 2021, CIBC agreed to pay $125 million in a settlement when accused of misrepresenting financial information regarding CIBC investments and US residential mortgage-backed securities.
Why You Should Trust Us: Expert Advice on Choosing the Best 18-Month CD
To learn more about what makes a good CD and how to choose the best fit, four experts weighed in:
Insider
Here's what they had to say about CDs. (Some text may be lightly edited for clarity.)
How can someone determine whether a bank is the right fit for them?
Tania Brown, certified financial planner at SaverLife:
"Obviously, you want to make sure it's FDIC insured. Also, your banking experience — do you like walking into a bank? Well, then you need someone local. Do you just not care if you ever see your bank? Then you're okay online. Do you write checks? Do you not write checks? So it's thinking through how your experience with it is going to be before you make that decision."
Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider:
"I would create a list of what I prioritize most in a bank account. For example, some banks have accounts that charge monthly service fees. I would look to see what the requirements are for waiving the monthly service fee and whether I think I could feasibly meet those requirements each month. If I'm searching for an interest-earning bank account I'll pay attention to interest rates. I would make sure the account pays a higher interest rate than the average bank account."
How should someone choose a CD term length?
Roger Ma, certified financial planner with lifelaidout® and author of "Work Your Money, Not Your Life":
"I would think about when you need the money and then compare that with what the prevailing CD rates are, and then what makes sense from a financial perspective, but also from your own personal timing perspective."
Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:
"I believe in having a plan for whatever the funds are. If it's supposed to be a house fund, and you want to wait for another two years to buy a house, that's what you should be thinking of when you want to have this money."
How should someone decide whether to put their money in a high-yield savings account, money market account, or CD?
Tania Brown, CFP:
"So I guess we'll start off with how much money you want to put in and ... the level of transactions you want to have. If you want to have any transactions, that automatically takes out CDs. Then you're stuck between the high-yield savings and the money market account."
Sophia Acevedo, Personal Finance Insider:
"Generally, I think a high-yield savings account or money market account could be good options for an emergency fund or short-term savings goals. A high-yield savings account offers a higher interest rate than traditional savings accounts at brick-and-mortar banks. Meanwhile, money market accounts might be worth considering if you want more account accessibility — several offer paper checks, ATM cards, or debit cards. CDs could be worthwhile if you don't need access to some of your money, since they have a fixed interest rate for a specific term."
Methodology: How we Chose the Best 18-Month CD Rates
At Personal Finance Insider, our goal is to create helpful reviews, guides, and explainers so that you can make good decisions about your money. We recognize every person has distinct preferences, so we provide ample options to help you find the most suitable financial product or account.
First, we researched to find over two dozen banks and credit unions that offered 18-month CDs. Then, we reviewed each institution to find the most-well rounded banking options. For each account, we compared the minimum opening deposits, early withdrawal penalties, and interest rates. We also considered the overall banking experience at each bank by assessing customer support availability, mobile app ratings, and ethics. Read more about how we rate CDs.