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Matthew Goldberg
Written by
Marc Wojno
Edited by
Robert R. Johnson
Reviewed by
Best available rates across different account types for Monday, July 01, 2024
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What To Know First
Reaching your savings goals can be challenging, and having easy access to funds in a money market or savings account doesn’t help.
If you struggle to keep your hands off your savings, a nine-month CD might be a good solution. As with otherCDs, there’s an early withdrawal penalty, which may be reason enough to keep you from touching your deposits before the maturity date.
With a nine-month CD, you’ll avoid tying up your funds for an extended period of time. What’s more, you’ll earn a higher rate of return than you would through most savings accounts or a CD with a shorter term.Calculate how much interest you could potentially earnwhen your CD matures.
Bankrate’s picks for the top 9-month CD rates
- Forbright Bank — 5.30% APY, $1,000 minimum deposit
- America First Credit Union — 5.25% APY, $500 minimum deposit
- CIBC Bank USA — 5.11% APY, $1,000 minimum deposit
- EverBank (formerly TIAA Bank) — 5.05% APY, $1,000 minimum deposit
- Marcus by Goldman Sachs — 5.00% APY, $500 minimum deposit
- Synchrony Bank — 4.90% APY, no minimum deposit
- Ally Bank — 4.85% APY, no minimum deposit
- Sallie Mae Bank — 4.85% APY, $2,500 minimum deposit
- USAA Bank — 4.75% APY, $1,000 minimum deposit
Note: Annual percentage yields (APYs) shown were updated between June 24, 2024 and June 30, 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.
On This Page
- Bankrate's picks for the top 9-month CD rates
- What is a 9-month CD?
- How to find the best 9-month CD rates
- 9-month CD FAQs
- Research methodology
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The following accounts can be found at most banks and credit unions. They’re federally insured for up to $250,000 and offer a safe place to put your money while earning interest.
Certificate of Deposit (CD)
CDs are best for individuals looking for a guaranteed rate of return that’s typically higher than a savings account. In exchange for a higher rate, funds are tied up for a set period of time and early withdrawal penalties may apply.
Checking account
Checking accounts are best for individuals who want to keep their money safe while still having easy, day-to-day access to their funds. ATM and other transactional fees may apply.
Savings / Money Market Accounts (MMA)
Savings and MMAs are good options for individuals looking to save for shorter-term goals. They’re a safe way to separate your savings from everyday cash, but may require larger minimum balances and have transfer limitations.
Current savings trends
Bankrate Partner average
4.88% APY
National average
0.59% APY
The "Bankrate Partner average" is calculated from the average of the top savings account offers from the institutions we track, included on this page as of 7/1/2024. "National average" is determined by Bankrate's comprehensive national survey of savings accounts and CDs.
On This Page
On This Page
- Bankrate's picks for the top 9-month CD rates
- What is a 9-month CD?
- How to find the best 9-month CD rates
- 9-month CD FAQs
- Research methodology
Bankrate’s picks for the top 9-month CD rates
Note: Annual percentage yields (APYs) shown were updated between June 24, 2024 and June 30, 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.
Forbright Bank
Rating: 4.3 stars out of 5
4.3
Overview
Forbright Bank offers five terms of CDs that range from nine months to five years. The one-year option earns an APY that’s tough to beat. The two-year, three-year and five-year terms earn rates that are well above average, but you can find higher yields at other banks. A minimum deposit of $1,000 is required to open a CD.
5.30% APY
$1,000 minimum deposit
America First Credit Union
Rating: 5 stars out of 5
5.0
Overview
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.
Read Bankrate's Expert America First Credit Union Review
5.25% APY
$500 minimum deposit
CIBC Bank USA
Rating: 4.5 stars out of 5
4.5
Overview
CIBC Bank USA, formerly The PrivateBank and Trust Co., was founded in 1991 and is based in Chicago. It was rebranded as CIBC Bank USA.
CIBC has 12 CD terms, ranging from 30 days to five years. The minimum deposit to open a CD is $1,000. Also offered are a savings account, a money market account and three checking accounts.
Read Bankrate's Expert CIBC Bank USA Review
5.11% APY
$1,000 minimum deposit
EverBank (formerly TIAA Bank)
Rating: 4.6 stars out of 5
4.6
Overview
EverBank offers CD terms ranging from three months to five years. It also offers a bump-rate CD, which allows a one-time rate bump should rates go higher. EverBank offers a service for customers with deposits that exceed the FDIC insurance limit of $250,000. Funds are spread around to different federally insured banks to expand insurance coverage.
Read Bankrate's Expert EverBank (formerly TIAA Bank) Review
5.05% APY
$1,000 minimum deposit
Marcus by Goldman Sachs
Rating: 4.9 stars out of 5
4.9
Overview
Marcus is the online personal banking unit of Goldman Sachs. Marcus offers nine terms of CDs, three no-penalty CD terms and a savings account.
Marcus CDs require a $500 minimum to open, but its savings accounts have no minimum deposit requirement.
Read Bankrate's Expert Marcus by Goldman Sachs Review
5.00% APY
$500 minimum deposit
Synchrony Bank
Rating: 4.9 stars out of 5
4.9
Overview
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.
Read Bankrate's Expert Synchrony Bank Review
4.90% APY
$0 minimum deposit
Ally Bank
Rating: 4.6 stars out of 5
4.6
Overview
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 2.5 million customers with deposit accounts.
Read Bankrate's Expert Ally Bank Review
4.85% APY
$0 minimum deposit
Sallie Mae Bank
Rating: 4.4 stars out of 5
4.4
Overview
Sallie Mae Bank offers 11 terms of CDs, a savings account, money market account, credit cards and private student loans. It offers a competitive yield on its deposit products.
Established in 2005, Sallie Mae Bank is headquartered in Salt Lake City. In 2014, Sallie Mae became a stand-alone consumer banking business.
Read Bankrate's Expert Sallie Mae Bank Review
4.85% APY
$2,500 minimum deposit
USAA Bank
Rating: 4.7 stars out of 5
4.7
Overview
USAA is an online bank for military members, military veterans and their families. Without a link to the military, you might not qualify to join.
USAA offers CDs in terms ranging from one month to seven years. It also offers checking and savings accounts, credit cards and mortgages and other loans.
Read Bankrate's Expert USAA Bank Review
4.75% APY
$1,000 minimum deposit
Randolph-Brooks Federal Credit Union
Rating: 4.3 stars out of 5
4.3
Overview
Randolph-Brooks Federal Credit Union is headquartered in Live Oak, Texas, and operates 61 branches serving four major markets in the state: Austin, Corpus Christi, Dallas-Fort Worth and San Antonio. It has about 975,000 members.
Randolph-Brooks Federal Credit Union has CDs with terms ranging from six months to seven years. It also offers a Really Free Checking account that requires no minimum balance and charges no monthly fee.
Read Bankrate's Expert Randolph-Brooks Federal Credit Union Review
4.26% APY
$20,000 minimum deposit
What is a 9-month CD?
A nine-month CD is a certificate of deposit that matures in nine months. In return for locking up your money with a bank or other financial institution for the term, it may pay you a slightly higher interest rate than you’d earn with a traditional savings account or money market account.
A nine-month CD offers a few key benefits. With your rate locked in, you don’t have to worry about the bank cutting your rate until after the CD matures. Accounts opened at most banks or credit unions are insured, typically up to $250,000, eliminating risk while helping you save for short-term goals.
How to find the best 9-month CD rates
Comparison shopping is key when you’re looking for the best nine-month CD rates. There are multipletypes of CDs, including bump-up CDs and liquid CDs. But the top nine-month CD rates are usually found with traditional CDs.
Check out the best nine-month CDs offered by banks and credit unions and weigh the pros and cons of going with a short-term certificate of deposit over an account that’s more liquid. Don’t forget tocalculate how much interest you could earnby the end of your term.
9-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, 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. (FDIC) or by the National Credit Union Share Insurance Fund (NCUSIF).
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.
