If your 6-month CD has a 1.50% APY, it does not mean you'll get a 1-year return of 3%. Interest rates and yields are annualized. So after 6 months with a 1.50% APY, your deposit will grow just under 0.75%. Dr. Don at Bankrate has a good review of APY and interest rates in his today's Q&A
. His reader mentioned a 2.26% 6-month CD. The reader email must be old because it's very hard to find 6-month CDs today with rates over 1.50%.