6% CD Rates: Where To Find Them And How To Qualify (2024)

High interest rates have made it a good time to be a saver. Whether you’ve got your money in a high-yield savings account, money market account or certificate of deposit (CD), you’re likely getting a healthy return on your savings. But if you aren’t earning 6%, you could be missing out on interest.

Find out if you qualify to access these 6% CD rates while they’re still available.

Annual percentage yields (APYs) and account details are accurate as of December 6, 2023.

Can You Get 6% on a CD?

Earning 6% interest on a CD can be done, but you might have to do some digging to find an account that works for you, and you’ll probably have to join a credit union.

Currently, no banks offer 6% CDs, but some credit unions do. To open an account with a credit union, you need to become a member. This means that whether or not you can get 6% on a CD depends on whether you’re eligible to join any of the credit unions that offer them.

CDs that pay 6% may also have requirements for earning the best annual percentage yield (APY) and may set limits on the total balance eligible to earn the highest rate. Remember, CD rates can change at any time, so don’t wait to lock in 6% APY on a CD when you see it.

How To Get 6% on a CD

You can get 6% on a CD by becoming a member of a credit union offering a certificate with this rate. Find out which credit unions have 6% CDs and who’s eligible to open these accounts.

Financial Partners Credit Union (8-Month CD — California Only)

• APY: 6.00% on up to $5,000
• Monthly maintenance fee: $0
• Minimum deposit to open: $1,000

The Financial Partners Credit Union 8-month CD is impressive. It boasts a 6.00% APY on balances over $1,000, but it’s only available to new members of the credit union and has a deposit maximum of $5,000. Still, this is undoubtedly one of the best CD rates in California.

To become a Financial Partners member, you need to be:

• An employee or retired employee of a partner company
• An immediate family member of a current Financial Partners member
• An employer, resident or student in Alameda, Los Angeles, Orange County, Riverside, San Diego or South San Francisco

City Credit Union Certificates of Deposit (6-Month CD — Texas Only)

• APY: 6.00%
• Monthly maintenance fee: $0
• Minimum deposit to open: $500

Complex Community Federal Credit Union (CCFCU) offers CD terms ranging from six months to five years, but only the 6-month term yields 6.00% APY. To earn this rate, you have to deposit $500 in new money to your CD. This CD doesn’t automatically renew at maturity.

You must meet one of the following qualifications to become a member of CCFCU:

• Live, work, attend school or worship in one of the following Texas counties: Andrews, Crane, Ector, Gaines, Howard, Lubbock, Martin, Midland, Pecos, Reeves, Upton, Ward or Winkler.
• Have a family or household member who’s already a Complex Community Federal Credit Union member

City Credit Union Certificates of Deposit (12-Month CD — Texas Only)

• APY: 6.00%
• Monthly maintenance fee: $0
• Minimum deposit to open: $1,000

With $1,000 and a year to wait, you can earn 6.00% APY on a 12-month CD at City Credit Union. Dividends are compounded and credited monthly, and there’s no maximum balance for this rate.

To become a City Credit Union member and take advantage of this competitive CD, you must live, work, go to school or worship in one of the following Texas counties: Collin, Cooke, Dallas, Denton, Ellis, Grayson, Hunt, Johnson, Kaufman, Parker, Rockwall, Tarrant and Wise. Unfortunately, there’s no other way to become a member, so this is among the tougher credit unions to join.

Empower Federal Credit Union Certificates of Deposit (3-Month CD — New York Only)

• APY: 6.00%
• Monthly maintenance fee: $0
• Minimum deposit to open: $500

For a lower commitment, Empower Federal Credit Union offers a 3-month CD with an APY of 6.00% across all balance tiers. This CD requires a minimum deposit of just $500—and if you live in New York, you might have a chance of qualifying.

To join Empower, you need to be:

• An employee or retired employee of one of a partner company
• An immediate family or household member of a current Empower member
• Someone who lives, works, goes to school or worships in one of the following New York cities, counties or villages: Binghamton, Buffalo, Cheektowaga, Elmira Designated (except Big Flats, census tract 5 and West Elmira), Elmira Heights, Geddes, Horseheads, Liverpool, Montgomery, Nedrow, New York Mills, Oswego, Syracuse, Union, Utica or West Elmira

Alternatives to 6% CDs

Membership restrictions and deposit requirements may make it tough to qualify for a 6% CD. If you aren’t able to get one, consider these other savings options.

5% CDs

A 5% CD isn’t quite as good as a 6% CD, but it’s not a bad deal—especially given that average rates on certificates, as determined by the FDIC, are nowhere near this high. If you can’t qualify for a CD earning 6.00% interest, there’s a good chance you can find a CD with a rate of 5.00% APY or more in today’s rewarding interest rate environment. Consider credit unions, online banks and community banks to find the best CD rates.

High-Yield Savings Accounts

High-yield savings accounts don’t typically earn as much as CDs, but current rates are still competitive. Plus, high-yield savings accounts offer more flexibility than CDs, letting you access your balance and make withdrawals or deposits whenever you want. Just note that some savings accounts restrict the number of transactions you can make in a month.

Money Market Accounts

Like savings accounts, money market accounts (MMAs) may not exceed 6% CDs in terms of earnings, but they’re still a good option to consider if you want to put your savings to work. Like a savings account, money market accounts offer more flexibility than CDs. MMAs often even provide spending tools like debit cards and checks, making them a little like checking accounts. You can access your MMA whenever you want, but transaction limits may apply.