Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Compare the best 9-month CD rates

These short-term accounts are a low-risk way to invest your money.

Updated

Fact checked

Finder's pick: Discover CDs

Discover CDs logo

0.55%

9-month APY

  • Start saving with $2,500
  • 0.6% APY for a 12-month term
  • Flexible terms from 3 months to 10 years
Go to site
A 9-month certificate of deposit — or CD — allows you to earn interest at a fixed rate for a low-risk, predictable return. But which ones offer the highest rates? For our research, we looked at nine-month CDs from over 40 financial institutions and selected the ones with the highest APYs. Then, we pared down our list by selecting accounts with nationwide availability, low opening deposits and easy online applications.

Compare the 8 best 9-month CDs

Use the table to sort and compare the best 9-month CDs by APY, minimum deposit and more. Interested in more than one account? Click the “Compare” box next to your top picks to view each one side-by-side.

Data indicated here is updated regularly
Name Product 9-month APY Minimum deposit to open
Discover CDs
0.55%
$2,500
Ally High Yield CDs
0.5%
$0.01
Marcus by Goldman Sachs High-yield CDs
0.35%
$500
Synchrony Bank CDs
0.5%
$2,000
Sallie Mae CD
0.3%
$2,500
BrioDirect High-Rate CDs
0.3%
$500
Capital One 360 CD
0.2%
$0
Barclays Online CDs
0.1%
$0.01
loading

Compare up to 4 providers

How do I choose the best 9-month CD?

To optimize your savings plan, choose the best nine-month CD for your unique needs by looking at:

  • Interest rate. Rates vary from bank to bank, but the national average for a 9-month CD is around 0.25%. Anything higher than this limit is considered a high-yield account and is worth looking into.
  • Compounding period. Most interest rates compound daily, monthly or quarterly. You’ll earn the most money if you choose a nine-month CD that compounds interest daily.
  • Minimum balance requirement. Some banks will let you open a CD with $100 while others require $1,000 or more to get started. Look for an account with a minimum balance that matches your savings plan.
  • Fees. Most CDs won’t have monthly fees, but you likely will have to pay a fee if you withdraw money early. Check how steep the penalty fees are before choosing a nine-month CD — especially if there’s a chance you’ll need access to the money in an emergency.
  • Account type. Are you more comfortable opening a nine-month CD account online that lets you check on its progress from an app, or would you rather open an account in person so you can talk it over with someone at the bank?

Alternative 9-month CDs

Looking for a few more 9-month CD options? These accounts are noteworthy mentions, but they didn’t make our original best list because of higher opening deposit requirements or slightly lower APYs. Depending on your financial situation, one of these CDs may be just what you’re looking for.

NASA Federal Credit Union Logo

NASA Federal Credit Union Share Certificates

APY: 0.65%

Required minimum deposit: $10,000

TAB Bank Logo

TAB Bank CD

APY: 0.5%

Required minimum deposit: $1,000

CIBC Agility Online CD

APY: 0.45% to 0.5%

Required minimum deposit: $1,000

Pros and cons of a 9-month CD

Before you open up a 9-month term deposit, consider how it compares to other savings products and CD terms:

Pros

  • Higher interest rates than savings accounts. You’ll typically earn a higher APY with a nine-month CD than you would with a traditional savings account or a three or six-month CD.
  • More flexibility. A shorter term means you have quicker access to your money, making nine-month CDs a good option if you know you’ll need your funds before the year ends.
  • Lower early withdrawal penalties. Short-term CDs with three to nine-month terms typically have lower early withdrawal penalties than long-term CDs with terms of 12 months or longer.

Cons

  • Lower interest rates than long-term CDs. Nine-month CDs have lower APYs than long-term CDs. If you’re able to commit to a one-, three- or five-year CD, you can get a better rate.
  • Not as popular as other CD terms. Not all banks offer short-term CDs. Of those that do, some only have three and six-month terms, which means your options could be limited.

How does a 9-month CD work?

A nine-month CD is a type of savings account that keeps your money locked away for nine months. If you need to access your money early, you’ll have to pay a penalty fee which can eat away at some or all of your interest.

Nine-month CDs offer a fixed interest rate, meaning the rate won’t change until the end of the term. The national average for nine-month CDs is around 0.25%. The most competitive CDs will offer APYs above this average. They’ll also compound interest daily, which means that you earn interest on your interest. But this isn’t always the case, so check the terms of the account you’re interested in.

Should I open a 9-month CD?

If you’re saving up for a purchase you plan to make in about nine months, it’s the perfect option.

If you know that you can live without access to your savings for longer than nine months you may want to consider a long-term CD, as longer terms generally offer better interest rates. In some cases the difference in interest rate can make a substantial difference in your savings.

If you aren’t confident you can lock your savings away for nine months without needing to make a withdrawal, perhaps consider a shorter option instead, like a 6-month or 3-month CD.

Is a 9-month CD safe?

Yes, your deposit of up to $250,000 at any FDIC-insured banks is backed by the US government, which means your money is safe from hackers, thieves and banks that go out of business.

What happens when my 9-month CD matures?

Unless you inform the bank before the account matures that you intend on withdrawing your savings, they will likely roll your money into a new CD for an additional nine months, possibly at a new interest rate.

The interest rate offered plays a big role in your return on investment, so it’s important you compare CD options again before simply allowing your savings to roll over into a new one with the same bank.

Bottom line

A nine-month CD can offer competitive rates for a short-term savings plan. But if you want a higher interest rate and can leave your money untouched, you may be better off with a longer term rate. Compare other CD options to learn what rates you can get with a different term length.

More guides on Finder

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site