Update 9/29/20: Readers report in the comments that NFCU is currently waiving the checking account/direct deposit requirement on the EasyStart certificate which makes it much easier to get. The $25 bonus is no longer valid, from what I see. Updated below.
The Offer
Direct Link to offer | CD landing page
- Open a new Special EasyStart Certificate
with a qualifying direct deposit and checking account.Start with as little as $50 and watch your savings grow at the market-leading rate of 3.50% APY.Plus, you’ll get a $25 bonus in honor of Military Appreciation Month.
The Fine Print
- Limit one Special EasyStart Certificate and one $25 Special EasyStart Certificate bonus per member.
- 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 (DDNP) 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 12-month EasyStart Certificate for the remainder of the certificate’s term.
- To qualify for the $25 Special EasyStart Certificate bonus, certificate must be opened May 1, 2020 through June 1, 2020.
- If a Share Special EasyStart Certificate is opened, the qualifying bonus will be credited to your savings account, then transferred to the Share Special EasyStart Certificate. If either an IRA or ESA Special EasyStart Certificate is opened, the qualifying bonus will be credited to the IRA/ESA Special EasyStart Certificate in the form of a dividend and will not be reportable as a contribution.
- Account must be in good standing for credit to be processed.
- Bonus will be processed within 8 weeks of initial DDNP posting.
- Navy Federal reserves the right to end or modify this offer at any time. Penalty for early withdrawal. Members should consult a tax consultant or obtain legal advice regarding any tax implications related to the dividend. Taxes related to the bonuses are the member’s responsibility. Navy Federal does not provide tax advice. Other restrictions may apply.
Our Verdict
We’ve had this CD on our Best Savings Rates post already, but now there’s this $25 bonus which is an added little sweetener. NFCU membership is limited to military families.
$30 bonus for opening a 12-month Special EasyStart or regular EasyStart CD and having 3 automatic transfers by Aug 31 https://www.navyfederal.org/campaigns/membership/military-appreciation-month.html Valid for May to June 1. Special EasyStart is currently at 4.85%
5% for a 15-month certificate now
Up to 4.85% APY
Rate has increased to 4.25% APY and I was able to close the one paying 2.96 and open one at the 4.25 without any penalties. Here is the Chat “Currently if we are closing the Certificate and moving it into a higher rate Certificate that has a maturity date longer than the current Certificate, we are waiving the penalties.”
Simple to do through CHAT.
The $30 for three automatic transfers to your CD is back for 5/1 to 6/1 https://www.navyfederal.org/campaigns/membership/military-appreciation-month.html
2/16: Opened an IRA account (thought it was a special easy start one) and deposited $50
3/08: $50 bonus into my IRA account (just a standard IRA earning practically nothing)
Are they still waiving the direct deposit requirement?
not for me on 9-3021. If anyone can get this waived, or know of any type transfer/deposit besides payroll or govt deposits taht work pls post. My grace period ends in a few days & I ahve no qualifying deposit
I called them and yes they are still waiving the direct deposit requirement at least through this year.
Would you know who you spoke to? I called just (10am mst) and rep said DD required.
Spoke to supervisor and she insisted the waiver ended in JUly 2021.
I can provide my email if you prefer. This would really help me out.
try an allotment from your pay to meet the minimum, has worked for me
Got an email asking me to do a survey for a $10 bonus.
6/20: Previous CD expired
6/20: Had to call in to set up a new CD
6/20: Transferred $2999.97 to CD
6/20: Initiated automatic weekly transfers from checking to CD of $0.01
6/17: Third transfer completed, canceled future automatic transfers
7/17: Nothing, so called in and they put a ticket
7/19: Sent a secure message
7/20: Called again and said it would be done by the end of the week
7/21: $30 bonus, transferred out
The Navy Federal 12 month Easy Start CD rate has been lowered to 3.00% but they’ve also added that you can get a $30 bonus after completing 3 automatic deposits.
Direct Deposit is also required to a checking account.