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Navy Federal Credit Union (federally insured by the NCUA) is one of the best institutions for the military, and it pays competitive rates on share certificates — what credit unions call CDs. It has three types of CDs: Standard, EasyStart, and SaveFirst. Your CD rate and minimum deposit will depend on which type of CD you open.
Navy Federal CD Rates
Navy Federal Standard Certificate Rates
The Navy Federal Credit Union Standard Certificate – Product Name Only pays Navy Federal Credit Union Standard Certificate – APY APY (Annual Percentage Yield). There’s a Navy Federal Credit Union Standard Certificate – Minimum Deposit minimum deposit, but it has a tiered interest rate system so you’ll earn more with higher deposits. Right now, you won’t earn the best rate unless you have at least $100,000.
CD Term$1k Minimum APY$20k Minimum APY$100k Minimum APY3 months4.00%4.00%4.05%6 months0.45%0.45%0.50%1 year4.90%4.90%4.95%18 months4.50%4.50%4.55%2 years4.20%4.20%4.25%3 years4.20%4.20%4.25%5 years4.00%4.00%4.05%7 years4.00%4.00%4.05%
Featured Nationally Available Deposit Rates
These accounts all offer at least 5% APY on deposits.
Western Alliance Bank 3 Month CD – Product Name Only: Western Alliance Bank 3 Month CD – APY APYCIT Bank 6 Month Term CD – Product Name Only: CIT Bank 6 Month Term CD – APY APYPonce Bank 9 Month CD – Product Name Only: Ponce Bank 9 Month CD – APY APYWestern Alliance Bank 1 Year CD – Product Name Only: Western Alliance Bank 1 Year CD – APY APYSallie Mae 14 Month CD – Product Name Only: Sallie Mae 14 Month CD – APY APYDiscover 18 Month CD – Product Name Only: Discover 18 Month CD – APY APYValley Direct 3 Year Variable CD – Product Name Only: Valley Direct 3 Year Variable CD – APY APYUFB High Yield Savings – Product Name Only: UFB High Yield Savings – APY APY
Navy Federal EasyStart Certificate Rates
The Navy Federal Credit Union EasyStart℠ Certificate – Product Name Only pays Navy Federal Credit Union EasyStart℠ Certificate – APY APY, and you only need Navy Federal Credit Union EasyStart℠ Certificate – Minimum Deposit to open an account. Here are the interest rates:
EasyStart CD termAPY6 months0.40%1 year4.85%1-year special EasyStart certificate5.30%18 months4.45%2 years4.15%
Navy Federal SaveFirst Account Rates
You can open a Navy Federal Credit Union SaveFirst Account – Product Name Only with only Navy Federal Credit Union SaveFirst Account – Minimum Deposit. It pays Navy Federal Credit Union SaveFirst Account – APY APY, so the rate isn’t great — but you get to choose your own term length between three and 60 months, and unlike with most CDs, you can contribute more money after opening the account.
Navy Federal CD Rates Pros and Cons
ProsCons
High interest rates on most terms
Compounds dividends daily
Three types of CDs to choose from
Terms as long as seven years
Relatively low minimum opening deposits
You must qualify for membership with Navy Federal before opening a CDPays low rates on 6-month terms and SaveFirst accountsStandard-to-high early withdrawal penalties
How Navy Federal CD Rates Compare
Navy Federal CDs vs. USAA CDs
USAA CD rates are competitive on certain terms. The bank pays USAA Fixed Rate CD – APY APY, and the best rate between the two institutions may depend on which term you choose.
USAA does have some specialty CDs that let you adjust the interest rate during your term and make additional deposits — but the rates aren’t nearly as high as what Navy Federal offers.
Navy Federal CDs vs. PenFed CDs
Pentagon Federal Credit Union is another credit union for military families. It has certificates with rates up to seven years that pay Pentagon Federal Credit Union Money Market Certificate – APY APY. Both credit unions pay strong CD rates overall, but the best rate between the two will depend on which term you choose.
PenFed doesn’t have any specialty CDs like Navy Federal does. It’s also worth noting that although PenFed CD rates are high overall and compound interest daily on most terms, its 6-month CD doesn’t compound interest at all.
The bottom line: Navy Federal CD rates are high overall, with the exception of its 6-month terms — you’ll find the best 6-month CD rates elsewhere. The SaveFirst Account rates are only so-so, but they’re some of the few CDs out there that allow you to add more money to your account during the term.
Why You Should Trust Us: How We Reviewed Navy Federal CDs
To review Navy Federal Credit Union certificates, we used Insider’s certificate of deposit methodology.
We evaluate the company’s ethics, mobile app, and customer service. Then we look at certificates’ interest rates, minimum deposits, variety of terms, and early withdrawal penalties. We give each category a rating between 0 and 5. Then we average their scores together and assign each CD a score from 0 to 5.
