bank rates

CD Rates At PenFed Are Still Competitive, Still Available To All U.S. Savers

It pays 2.00% APY on 5-year CDs.Pentagon Federal Credit Union pretty regularly offers competitive long-term certificates of deposit.

In recent months, however, its 60-month CD rates have just eked by the top deal on our CD Rates Leaderboard.

But with this week’s rate cut from the top nationally available bank deal, PenFed’s 5-year CD looks more attractive.

PenFed calls its CDs money market certificates. With a $1,000 minimum deposit, it pays:

  • 2.00% APY on the 60-month term.
  • 2.50% APY on the 84-month term.

The 5-year CD rate is nearly two tenths of a percentgage point better than the top nationally available bank deal. And the 7-year deal is among the highest long-term CD rates in the country.

There are a couple nationally available credit union deals that beat this rate. You’ll find these and all the top local deals on our list of highest CD rates.

While membership is geared toward military personnel, government employees and members of qualifying organizations, anyone who doesn’t meet standard eligibility requirements can join this credit union by joining one of two military groups.

Under the “Join PenFed” tab on the website (www.penfed.org), choose the “none of the above” option when prompted to answer how you are eligible to join.

You’ll be prompted to join either the National Military Family Association for a onetime $20 fee or Voices for America’s Troops for a onetime $15 fee.

Members can purchase certificates of deposit online, over the phone or in person at a Pentagon Federal Credit Union branch.

Branches are located in the Washington, D.C., area; Hawaii; New York; North Carolina; Texas; and at military bases in Guam, Japan, Portugal, Puerto Rico and Turkey.

Compare Pentagon Federal Credit Union’s returns with the best CD rates from scores of other banks in our extensive database.

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  1. Mike Sante said:
    on June 1st at 01:17 pm

    Rates have dropped a little. They’re now down to 1.90% APY for 5-year CDs and 2.40% APY for 7-year CDs.