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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.
Barclays 18 Month Online CD
Annual Percentage Yield (APY)
4.90%
Minimum Deposit Amount
$0
- No minimum deposit
- High interest rate
- Low-to-standard early withdrawal penalties
- Low mobile app ratings in the Apple store
Product Details
- Terms range from 3 months to 5 years
- Early withdrawal penalties are as follows: 90 days interest for terms of 24 months or less, 180 days interest for terms of more than 24 months
- Interest compounds daily to maximize earnings
- FDIC insured
The best 18-month CD rate is 5.60% APY available at Limelight Bank.
We check rates daily to find the best rates for 18-month terms. Here are our top picks.
Best 18-Month CDs
These are our picks for the best 18-month CD rates. Our top picks for CDs are protected by FDIC or NCUA insurance. Although Silicon Valley Bank, Signature Bank, and First Republic Bank have recently been shut down, 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.
Compare the Best 18-month CDs
Limelight Bank 18 Month Online CD
Start saving
Annual Percentage Yield (APY)
5.60%
Minimum Deposit Amount
$1,000
- Competitive interest rate
- Standard-to-low early withdrawal penalties
- $1,000 minimum opening deposit
- Limited online CD terms
Product Details
- Early withdrawal penalties: for terms between 6 months and 18 months, the early withdrawal penalty is 90 days of interest; for terms of 36 month term, the penalty is 180 days of interest
- Compounded daily and deposited monthly
- FDIC insured
USALLIANCE Financial 18 Month Certificate
Annual Percentage Yield (APY)
5.50%
Minimum Deposit Amount
$500
- High interest rate
- Low minimum opening deposit
- Variety of CD terms available at the financial institution
- Standard-to-high early withdrawal penalties
The Insider’s Take
USALLIANCE Financial offers the most-competitive interest rate on an 18-month term right now. It also pays a great interest rate on a 1-year share certificate.
Product Details
- 9 branches in MA, CT, NY and NJ
- To join USALLIANCE Financial you must 1) live in a select area in MA, CT, NJ, or NY 2) work for a select employment group or 3) become a member of the American Consumer Council, Arco of Westchester, Tread Lightly! or the Council of Community Services
- Terms range from 3 months to 60 months
- Interest compounded daily and deposited monthly
- Federally insured by the NCUA
Popular Direct 18 Month CD
Annual Percentage Yield (APY)
5.35%
Minimum Deposit Amount
$10,000
- Competitive rates for certain term lengths
- Compounds interest daily
- $10,000 minimum deposit
- Standard-to-high early withdrawal penalties
Product Details
- Terms ranging from 3 months to 5 years
- Early withdrawal penalties: 89 days simple interest for terms under 91 days; 120 days simple interest for terms of 91 days to less than 12 months; 270 days simple interest for terms of 12 months to less than 36 months; 365 days simple interest for terms of 36 months to less than 60 months; 730 days simple interest for terms of 60 months or more
- Interest compounded daily, paid monthly
- FDIC insured
Signature Federal Credit Union 18 Month Certificate
Annual Percentage Yield (APY)
5.25%
Minimum Deposit Amount
$500
- Competitive APY
- $500 opening deposit
- Standard early withdrawal penalties
- Interest compounded monthly, not daily
- No terms over 5 years
Product Details
- Become a Signature FCU member by depositing $5 in a Signature savings account
- Terms ranging from 3 months to 5 years
- 45 days to 900 days interest early withdrawal penalty
- Interest compounded monthly and paid monthly
Crescent Bank 18 Month CD
Annual Percentage Yield (APY)
5.20%
Minimum Deposit Amount
$1,000
- High interest rate
- Standard CD terms
- Standard early withdrawal penalties
- $1,000 minimum opening deposit
Product Details
- 3 branches in Louisiana
- Terms range from 12 months to 5 years
- Early withdrawal penalties: 90 days interest for a 1-year CD term; 180 days interest for all other CD terms
- Interest compounded and deposited monthly
- Member FDIC
CFG Bank 18 Month CD
Annual Percentage Yield (APY)
5.20%
Minimum Deposit Amount
$500
- $500 minimum opening deposit
- Competitive APY
- Standard early withdrawal penalties
- Limited term options
Product Details
- 2 branches near Baltimore, Maryland
- Free access to over 1,600 M&T Banks ATMs on the East Coast
- Terms range from 1 year to 5 years
- Early withdrawal penalties: 90 days of interest for terms of 1 year; 180 days of interest for terms longer than 1 year
- Interest compounded daily and paid monthly
- Member FDIC
MYSB Direct 18 Month CD
Annual Percentage Yield (APY)
5.20%
Minimum Deposit Amount
$500
- High interest rate
- $500 minimum opening deposit
- Low early withdrawal penalties
- Interest compounded monthly, not daily
Product Details
- NY-based financial institution that serves customers nationwide
- Terms range from 30 days to 5 years
- Early withdrawal penalties 90 days of interest
- Interest compounded and deposited monthly
- FDIC insured
CIBC Agility 18 Month CD
Start saving
Annual Percentage Yield (APY)
5.17%
Minimum Deposit Amount
$1,000
- High interest rates, especially if deposit $25,000 or more
- Standard-to-low early withdrawal penalties
- $1,000 minimum opening deposit
- Limited CD terms
Product Details
- Earn a higher interest rate if you deposit $25,000 or more
- Terms range from 9 months to 30 months
- Early withdrawal penalty: 30 day of interest if you withdraw before the end of your term
- Interest compounded and deposited monthly
- Member FDIC
Capital One 18 Month 360 CD
Annual Percentage Yield (APY)
5.25%
Minimum Deposit Amount
$0
- Competitive APY
- No minimum deposit
- Low-to-standard early withdrawal penalties
- No jumbo or no-penalty CDs
Product Details
- Terms ranging from 6 months to 5 years
- No minimum deposit
- Early withdrawal penalties ranging from 3 to 6 months interest
- Compounding interest to maximize your earnings
- FDIC insured
Sallie Mae 18 Month CD
Annual Percentage Yield (APY)
5.15%
Minimum Deposit Amount
$2,500
- Competitive APY
- Low-to-standard early withdrawal penalties
- $2,500 minimum deposit
- No terms under 6 months or over 5 years
Product Details
- Terms ranging from 6 months to 5 years
- Early withdrawal penalties: Terms of 12 months or less are charged 90 days simple interest; terms of over 12 months are charged 180 days simple interest
- Interest compounded daily, paid monthly
18-Month CD FAQs
Limelight Bank has the highest CD rates for 18-month terms. An 18-month Limelight Bank CD pays 5.60% APY.
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.
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 5.00% APY. You’ll earn 5.00% 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.
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.
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
Limelight Bank 18 Month Online CD
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.
APY for 18-month CD: 5.60% APY
18-month CD early withdrawal penalty: 90 days of interest
What to look out for: 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.
USALLIANCE Financial 18 Month Certificate
USAlliance Financial Share Certificates offer a high rate for an 18-month term. Certificates at USAlliance Financial also have low minimum opening deposit requirements.
Interest for an 18-month CD: 5.50% APY
18-month CD early withdrawal penalty: 360 days of interest
What to look out for: 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 1) live in a select area in Massachusetts, Connecticut, New Jersey, or New York 2) work for a select employment group, or 3) become a member of the American Consumer Council, Arco of Westchester, Tread Lightly! or the Council of Community Services.
Popular Direct 18 Month CD
Popular Direct CDs have high interest rates, and compound interest daily.
APY for 18-month CD: 5.35% APY
18-month CD early withdrawal penalty: 270 days of simple interest
What to look out for: You’ll need at least $10,000 to open a Popular Direct CD. The early withdrawal penalty is also fairly high.
Signature Federal Credit Union 18 Month Certificate
The Signature Federal Credit Union Certificate stands out because it has a low $500 minimum opening deposit.
Signature Federal Credit Union is another good choice if you prioritize banking with a credit union.
Interest for an 18-month CD: 5.25% APY
18-month CD early withdrawal penalty: 180 days of interest
What to look out for: Credit unions require membership to open an account. The easiest way to become a member is to enroll in the American Consumer Council. Then you’ll just need to open a savings account.
Crescent Bank 18 Month CD
Crescent Bank CDs have standard early withdrawal penalties for an 18-month term.
To deposit money into an online Crescent Bank CD, you may mail a check or transfer money from an account from another bank or credit union.
Interest for an 18-month CD: 5.20% APY
18-month CD early withdrawal penalty: 180 days of interest
What to look out for: Crescent Bank CDs will automatically renew at the end of each term, unless you call customer service to cash out your CD.
CFG Bank 18 Month CD
CFG Bank CDs may stand out if you’re searching for a low minimum deposit of $500. CFG Bank has strong 1-year and 18-month terms.
Interest for an 18-month CD: 5.20% APY
18-month CD early withdrawal penalty: 180 days of interest
What to look out for: CFG Bank only offers 1-year, 18-month, 3-year and 5-year terms. For more CD variety, consider other financial institutions.
MYSB Direct 18 Month CD
The MYSB Direct CD might be a good choice if you’re comfortable with a fully online banking experience. MYSB Direct has a variety of CDs with high interest rates. It also has low early withdrawal penalties.
Interest for an 18-month CD: 5.20% APY
18-month CD early withdrawal penalty: 90 days of interest
What to look out for: The bank compounds interest monthly, not daily. Depending on how much money you plan to keep in a CD, this may or may not make a significant difference.
CIBC Agility 18 Month CD
CIBC Agility CDs have low early withdrawal penalties compared to other banks.
CIBC Bank USA, the US division of the Toronto-based bank Canadian Imperial Bank of Commerce, has competitive CD rates on 1-year, 18-month, and 2-year terms. With the 18-month and 2-year term, you’ll also earn a higher rate if you deposit $25,000 or more.
Interest for an 18-month CD: 5.17% APY
18-month CD early withdrawal penalty: 30 days of interest
What to look out for: CIBC Bank USA has an online savings account and CDs that you can open anywhere in the US. To open a checking account or money market account in the US, you must live in a state that has a banking center. Banking centers are only located in Illinois, Michigan, Missouri, and Wisconsin.
Capital One 18 Month 360 CD
Capital One 360 CDs may be worthwhile if you prioritize banking with a national brand or opening an account with a low amount, since it has a $0 minimum deposit.
Interest for an 18-month CD: 5.25% APY
18-month CD early withdrawal penalty: Six months of interest
What to look out for: Other financial institutions may offer more competitive CD rates right now.
Sallie Mae 18 Month CD
Sallie Mae CDs offer good interest rates. It’s also a worthwhile option if you want to open other types of savings accounts, as it pays high rates on its savings and money market accounts.
Interest for an 18-month CD: 5.15% APY
18-month CD early withdrawal penalty: 180 days simple interest
What to look out for: Sallie Mae’s $2,500 minimum deposit for CDs is pretty steep.
Other 18-Month CDs We Considered
- Gulf Coast Federal Credit Union Share Certificate: An 18-month Gulf Coast Federal Credit Union Share Certificate pays 4.50% APY, which is lower than our top picks.
- First Internet Bank of Indiana CD: First Internet Bank of Indiana has an 18-month term that pays 5.07% APY, but our top picks have higher CD rates right now.
- Alliant Certificate: Alliant Credit Union pays 5.05% APY on an 18-month certificate, but it is just short of the rates on our list.
- Synchrony Bank CD: Synchrony has an 18-month term paying 5.15% APY, but our top picks have higher rates right now.
- Discover CD: Discover’s 18-month term pays 5.00% 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 5.00% 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.
- Barclays Online CD: Barclays CDs require a minimum of $0, but our top options have higher interest rates for an 18-month term.
- Marcus High-Yield CD: Marcus CDs have a low minimum opening deposit, but its 18-month term has a lower interest rate than our top picks.
- Pentagon Federal Credit Union Money Market Certificate: Our top picks have higher interest rates and lower early withdrawal penalties.
- 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.
- TIAA Bank Basic CD: TIAA 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.
Signature Federal Credit Union does not have a profile with the Bureau yet, so there are no complaints or reviews to use for evaluating the company’s business practices.
Here is each company’s score:
MYSB Direct has an NR (“No Rating”) grade because the BBB doesn’t have enough information to provide a rating yet. CFG Bank currently doesn’t have a BBB rating because its profile is being updated.
USAlliance Financial received a D- rating from the BBB because it has failed to respond to five customer complaints on the BBB website.
The BBB gave 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.
CIBC Bank has been involved in a recent public controversy. 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.
UFB High Yield Savings
Earn 5.25% APY on your savings. No monthly maintenance fees. No minimum deposit is required to open an account.
