bank rates

Navy FCU Offers Above Average CD Rates

It's top rate is 3% on a special 12-month CD.To spice up our weekly review of big bank CD rates, we’ve decided to add some of the nation’s biggest credit unions to the mix.

First up: Navy Federal Credit Union.

Its 3.8 million mostly military members are fortunate to have access to CD rates that are above average and, in some cases, top what you’ll find on our CD Rates Leaderboard.

(As a reminder, our Leaderboard is restricted just to banks that offer certificates of deposit to savers in all 50 states.)

Navy Federal’s highest rate — 3.00% APY — can be found on the 12-month Special EasyStart Certificate. While we certainly like seeing a rate that high, we’re not crazy about the $3,000 maximum balance.

Still, if you’re a member with limited funds and looking to venture into investing in certificates of deposit, this might be the deal for you. The minimum deposit is a mere $50.

That said, the best deal is the 60-month CD, which pays 2.10% APY with a $1,000 minimum deposit.

That’s just a tenth of a percentage point lower than the top nationally available 60-month rate on our CD Rates Leaderboard.

The current average rate offered by large banks and thrifts has fallen to 1.17% APY — a new record low for that term.

Navy Federal Credit Union’s other CD rates with a $1,000 minimum deposit:

12-month CD rate is 0.85% APY versus an average rate of 0.35% APY. (Leaderboard leader is 1.15% APY.)

24-month CD rate is 1.05% APY versus an average rate of 0.53% APY. (Leaderboard leader is 1.30% APY.)

36-month CD rate is 1.45% APY versus an average rate of 0.68% APY. (Leaderboard leader is 1.65% APY.)

Its rates increase a bit with a $20,000 minimum deposit.

For example, Navy Federal pays 2.20% APY on its 60-month CD with a $20,000 minimum deposit. That’s a tenth of a percentage point improvement over the rate offered with a $1,000 deposit.

We should also note that if you’re looking for a longer investment, the credit union also offers top 7-year CD rates. With a $1,000 deposit, it pays 2.70% APY. Increase the deposit to at least $20,000, and you’ll earn 2.80% APY.

Membership is open to members, reservists and retirees of the Army, Marine Corps, Navy and Air Force. Army and Air National Guard personnel are also eligible, as well as delayed enlistment pro officer candidates, civilian employees and contractors of the Department of Defense, and family members.

Members can purchase certificates of deposit online (, over the phone or in person at one of Navy Federal Credit Union’s 219 branches.

Still there are better deals out there, and you’ll find them if you compare Navy Federal Credit Union’s returns with the best CD rates from scores of other banks in our extensive database.

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Comments (3)
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3 Existing Comments
  1. Kathy at Bankaholic said:
    on December 19th at 10:37 am

    Navy Federal CU is still offering all of these rates.

  2. Kathy at Bankaholic said:
    on December 28th at 09:26 am

    You can still get all of these rates.

  3. Kathy at Bankaholic said:
    on January 10th at 09:18 am

    All of these rates are still offered.