Navy Federal Credit Union 2.25% APY 15-Month CD

The Offer

Direct link to offer

• Navy Federal is offering a 15-month CD rate of 2.25% with a $50,000 maximum
• They are also offering 12 month certificate offering a 3% APY with a $3,000 maximum
• (They also have a special CD rate of 2.75% for 32-months for IRA and ESA accounts only)

You can continue contributing toward the maximum all along the way and get the same interest rate.

The Fine Print

• Limit one Special 15-Month Share Certificate per member. This offer, including the stated Annual Percentage Yield (APY), is effective December 4, 2017. Navy Federal reserves the right to end or modify this offer at any time. The Special 15-Month Share Certificate has a $50 minimum and a $50,000 maximum balance. Only available for Share Certificates. Additional deposits are allowed at any time, subject to the maximum balance. Penalties apply for early withdrawals from certificates. Other restrictions may apply.
• Limit one Special 12-Month EasyStart Certificate per member. This offer, including the stated Annual Percentage Yield (APY), is effective March 25, 2013. Navy Federal reserves the right to end or modify this offer at any time. Penalty for early withdrawal. The Special EasyStart Certificate has a $50 minimum balance and a $3,000 maximum balance. Additional deposits are allowed at any time, subject to the maximum balance. 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. If these requirements have not been satisfied by the 90th day, your Special EasyStart Certificate dividend rate will be reduced to the prevailing dividend rate of the standard EasyStart Certificate for the remainder of the certificate’s term.

Our Verdict

The 3%/$3k rate has been around for sometime. There was previously a 3%/$10k rate available, now it changed to 2.25%/$50k. Lower rate than before, but much higher maximum, and still significantly better than the best rate CDs which hover mostly in the 1.60-2.00% range. It’s also a cool benefit that they allow you to continue adding funds to the CD the entire duration.

The best rate available to the broad population who are not eligible for NFCU membership is a 2% APY rate from Synchrony on a 1-year CD. That one is also better in the sense that it doesn’t have the $50k cap. We’ll add these accounts to our list of Best High-Interest CD Accounts Available.

Hat tip to reader LAG