The Offer
- Navy Federal is offering a 5 month certificate CD offering a 3% APY. $50 minimum and $10,000 maximum.
- They are also offering 12 month certificate offering a 3% APY. $50 minimum and $3,000 maximum
The Fine Print
- This offer, including the stated Annual Percentage Yield (APY), is effective July 31, 2017. Navy Federal reserves the right to end or modify this offer at any time. Limit one Special 5-Month Certificate per member. This certificate has a $50 minimum and $10,000 maximum balance. Share Certificate only. Not available for IRAs or ESAs. Additional deposits are allowed at any time, subject to the maximum balance. Penalty applies for early withdrawal from certificate.
- Limit one Special 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 a Direct Deposit of Net Pay or a 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
Generally we don’t really post CD’s, but these seem like an OK deal. I assume there is no hard pull or ChexSystems inquiry done for these, but not 100% sure. There are other high interest accounts that earn at a higher rate, but the advantage of these CD’s is that they have no requirements. Let me know your thoughts on this deal in the comments. Should we cover CDs? You need to be a NFCU member to be eligible for these, more details on that here.
Hat tip to reader Eric
