Updated August 2022. Navy Federal Credit Union is the nation’s largest credit union, with a long history of serving active military members. More recently, they have expanded their field of membership to . NavyFed often offers special rates on their share certificates, and they just released the following for August 2022:
- 33-Month Regular/IRA/ESA Certificate at 3.30% APY. $1,000 minimum and a $100,000 maximum balance. Additional deposits are allowed at any time, subject to the maximum balance.
- EasyStart Certificate at 3.00% APY. Open with as little as $50. Make additional deposits anytime (up to $3,000). 12-month term. Certificate owner(s) age 18 and older must have Direct Deposit of Net Pay or payroll allotment and a Navy Federal checking account within 90 days of the certificate issue date.
The new 33-month CD is most interesting because of the add-on feature optionality. 3.30% is a competitive rate at this moment, although not the top rate. However, as long as you open the CD with $1,000 initially, you now have the option of adding on more funds in the future (up to $100,000 maximum). This can be appealing if rates ends up dropping. This time it is also available for regular taxable accounts (not just IRAs).
I simply transferred $1,000 to my NavyFed share savings account via ACH, and then used those funds to open this special certificate.
Fine print:
1 Limit one 33-Month Special Certificate (Share/IRA/ESA) per member. The 33-Month Special Certificate is available July 11, 2022. Effective July 11, 2022, the stated Annual Percentage Yield (APY) was 2.60%. Effective August 1, 2022, the stated Annual Percentage Yield (APY) is 3.30%. Navy Federal reserves the right to end or modify this offer or update the stated Annual Percentage Yield (APY) at any time. The 33-Month Special Certificate (Share/IRA/ESA) has a $1,000 minimum balance and a $100,000 maximum balance. Additional deposits are allowed at any time, subject to the maximum balance. Once the promotional rate is applied to a purchased certificate, it will remain in effect for the length of the product term. IRA/ESA certificates are subject to IRS contribution limits. Penalties apply for early withdrawals from certificates. Other restrictions may apply. ?
Navy Federal Credit Union has solid bank and loan products, including checking accounts with ATM rebates, competitive mortgage rates, and limited-time 0% balance transfer promotions.
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