Best 18-Month CD Rates of August 2023 (Up to 5.70%)

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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 5.70% APY from USAlliance Financial. 

We check rates daily to find the best rates for 18-month terms. Here are our top picks.

The Best 18-Month CDs

• USAlliance Financial 18 Month Certificate: 5.70% APY
• Gulf Coast Federal Credit Union 18 Month Share Certificate: 5.30% APY
• Crescent Bank 18 Month CD: 5.20% APY
• CIBC Agility 18 Month CD: 5.17% APY
• Alliant 18 Month Certificate: 5.15% APY
• Sallie Mae 18 Month CD: 5.15% APY
• Popular Direct 18 Month CD: 5.15% APY
• First Internet Bank of Indiana 18 Month CD: 5.07% APY
• Ally 18 Month High Yield CD: 5.00% APY
• Synchrony 18 Month CD: 5.00% APY

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

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:

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.

18-Month CD FAQs

18-Month CD Reviews

USAlliance Financial 18 Month Certificate

Why it stands out: USAlliance Financial has the highest interest rate available for an 18-month term. Certificates at USAlliance Financial also have low minimum opening deposit requirements.

Interest for an 18-month CD: 5.70% 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.

Gulf Coast Federal Credit Union 18 Month Share Certificate

Why it stands out: If you live in Texas and want to bank with a local financial institution, Gulf Coast Federal Credit Union may be a good option. Gulf Coast Federal Credit Union is designated as a minority depository institution by the NCUA and notably serves Hispanic American communities. It has branches in Alice, Texas;  Corpus Christi, Texas; and Portland, Texas.

The credit union is offering a competitive interest rate on an 18-month term. You also only need $500 to open an account.

 Interest for an 18-month CD: 5.30% APY

18-month CD early withdrawal penalty: Up to 190 days of interest

What to look out for: To be eligible for a CD, you must meet the credit union’s eligibility requirements. You may join Gulf Coast Federal Credit Union if you live, work, worship, or go to school in Nueces, San Patricio, or Jim Well Counties in Texas. You may also be eligible for membership if you have an immediate family member who is a member. All members have to pay a one-time $2.50 membership fee and open a savings account with at least $5.

Gulf Coast Federal Credit Union Review

Crescent Bank 18 Month CD

Why it stands out: Crescent Bank has high interest rates on a variety of online CDs. It also has 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. 

Crescent CD Review

CIBC Agility 18 Month CD

Why it stands out: 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. 

CIBC Agility CDs also have low early withdrawal penalties compared to other banks.

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. 

CIBC Bank USA Review

Alliant 18 Month Certificate

Why it stands out: If you would rather join a credit union than a bank, Alliant Credit Union is a great online option regardless of where you live in the US. Alliant Credit Union pays competitive CD rates, particularly for 1-year and 18-month terms.

Interest for an 18-month CD: 5.15% APY

18-month CD early withdrawal penalty: 120 days of interest

What to look out for: Credit unions require you to become a member to open accounts. The easiest way to become a member is to join Foster Care to Success. Alliant will cover your $5 joining fee.

Alliant Credit Union Review

Sallie Mae 18 Month CD

Why it stands out: Sallie Mae has a good rate on its 18-month term. 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.

Sallie Mae Bank Review

Popular Direct 18 Month CD

Why it stands out: Popular Direct pays a competitive rate, and it compounds interest daily.

APY for 18-month CD: 5.15% 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.

Popular Direct Review

First Internet Bank of Indiana 18 Month CD

Why it stands out: The online bank First Internet Bank of Indiana has a competitive interest on several CDs. First Internet Bank of Indiana also has savings, checking, and money market accounts.

Interest for an 18-month CD: 5.07% APY

18-month CD early withdrawal penalty: 180 days of interest

What to look out for: First Internet Bank of Indiana compounds your interest monthly, not daily. Depending on how much money is in your CD, this might or might not make a significant difference.

First Internet Bank of Indiana Review

Ally 18 Month High Yield CD

Why it stands out: Ally High Yield CDs have a $0 minimum opening deposit, and the 18-month term offers the highest interest rate right now. You also might like Ally if you’d like to open other types of bank accounts. Ally has a high-yield savings account, interest-earning checking account, money market account, and specialty CDs.

Interest for an 18-month CD: 5.00% APY

18-month CD early withdrawal penalty: 60 days of interest

What to look out for: You may be able to find other online banks that offer slightly higher rates on CDs.

Ally CD Review

Synchrony 18 Month CD

Why it stands out: Synchrony pays a competitive interest rate on its 18-month term and has a $0 minimum opening deposit.

It’s also a good option if you’re searching for a variety of CD terms. Usually, banks offer CDs ranging from six months to five years, with standard terms such as one year, 18 months, and three years. At Synchrony, you’ll have more options to choose from. For example, the online bank has 9-month, 13-month, and 19-month terms. The online bank is also featured in our best no-penalty CDs guide.

Interest for an 18-month CD: 5.00% APY

18-month CD early withdrawal penalty: 180 days of simple interest

What to look out for: Synchrony doesn’t have a checking account. If you’d like to open this type of account, you’ll want to consider other options.

Synchrony CD Review

Other 18-Month CDs We Considered

• 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.
• CFG Bank CD: CFG pays relatively high interest rates — but not as high as what you’ll earn with our top picks.
• 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.
• Capital One 360 CD: Capital One 360 CDs have a $0 minimum opening deposit, but our top picks have more appealing interest rates right now. 
• 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. Here is each company’s score:

The Better Business Bureau gives Gulf Coast an NR (“No Rating”) grade because the BBB doesn’t have enough information to provide a rating yet.

Ally received an A rating from the Better Business Bureau because it has a few unresolved customer complaints.

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.

LendingClub has an A grade due to government action against the company. The Federal Trade Commission filed a complaint back in 2018 that LendingClub advertised “no hidden fees,” on loans but ended up charging customers hidden fees. The FTC has sent refunds to customers as recently as June 2023.

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.

Synchrony has also been involved in a few public controversies. In 2023, Synchrony was required to pay $2.6 million in a settlement when accused of calling customers about bank accounts they didn’t have. In 2021, the bank also was required to pay $3.5 million in a settlement when accused of making unreasonable phone calls to debtors living in California.