Navy Federal Credit Union typically unveils any new CD specials on the first of the month.
But it’s been quite a while since flipping a page on the calendar has brought us any deals worth writing about from the world’s largest credit union.
Enter its August offer, which is a bonafide winner for military-affiliated savers across the country, as well as their families.
Navy Fed is currently paying 2.00% APY on special 20-month certificates, with a minimum $20 deposit.
Compare that with the 1.50% APY you can earn from the top nationally available 2-year certificate from the banks on our CD Rates Leaderboard or the 4-year term it takes to earn 2% on our Leaderboard.
It’s also enough to put Navy Fed back in our constantly updated roundup of the country’s top-paying CDs from credit unions and community banks.
The one catch is that this certificate has a maximum investment of $20,000.
Membership in Navy Fed is open to savers who are affiliated in any way with the Armed Forces, the U.S. Department of Defense or the National Guard. This includes regular active duty and reservists in the Army, Navy, Air Force, Marine Corps and Coast Guard, as well as Army and Air National Guard personnel.
In addition, their families and household members are eligible to join Navy Fed.
Becoming a member and opening a certificate of deposit can be done online or at one of 278 branches across the country and in Guam.
Impressive as this Navy Fed deal is, however, it’s still always smart to check Bankrate’s extensive database of the day’s best CD rates before committing your funds to any certificate.