Posted by William Charles on July 31, 2017
Savings Accounts

Published on July 31st, 2017 | by William Charles


Navy Federal Credit Union 5 or 12 Month 3% APY Certificates

The Offer

Direct link to 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

22 Responses to Navy Federal Credit Union 5 or 12 Month 3% APY Certificates

  1. JT says:

    I for one appreciate the discussion on these CD deals. Savings rates are ever so slowly starting to creep up from godawful so maybe we’ll see some good deals going forward. Already had the Special EasyStart and just jumped on the Special 5 month.

  2. sloebrake says:

    I would like coverage of short term high CD rates. I’m signing up for this when the ACH goes through.

    I regularly get 1% fee balance transfers (with 0% APY) and even a 0% fee (with 0% APY) every now and then.

    It’s seems a great way to leverage credit for a free couple hundred dollars.

  3. Jan B. says:

    From the calculator I found online, a $5K deposit would return about $61.00 in interest. Guessing double for twice the deposit.

    Putting $10K into Chase for 90 days would return $100.

    Applying for AARP Chase Visa gives back $200 with only $500 spend…

    • JT says:

      Let’s take out the guesswork: 10,000*0.03*5/12 = $125

      “Putting $10k into Chase for 90 days would return $100.” lol wut?

      “Applying for AARP Chase Visa gives back $200 with only $500 spend…” Yes at the expense of a hard pull and new credit account reported that’s probably not worth it. Unrelated anyways.

    • Elmer says:

      OK, I learned that Jan has basic math skills. And………..

    • Frito Pendejo says:

      Why not do all three?

    • Chris says:

      Except that as noted in the post, if you’re already a NFCU member, this is (we think) without a Chex or hard credit pull.

    • Craig says:

      Is that a 4% interest rate? What Chase account do you have?

  4. larry says:

    The maximums kill this deal for me.

  5. The Cat says:

    I’m in favor of CD deals being reported.

  6. Billy says:

    Yes, I’d like to see these reported when they are spectacular deals like this one.

  7. Greg says:

    I like the idea of CD deals being reported as long as they continue to meet your current “OK deal” threshold 🙂

  8. Frito Pendejo says:

    Is there any way to join for non-members? I see the “Navy League” method seems to be closed. I’m interested in the CDs but don’t think I can join.

    • Sarah says:

      Unless you are in the military, a veteran, a DoD civilian employee, have a connection to another NFCU member (family, household member) then no, you can’t join. Details about membership are in the post.

      They do a hard pull for membership, FYI.

      • Jan B says:

        Thanks Sarah. Thanks for FYI; so important (I am already a member).

        When I tinkered around with Altra Federal, I did it only because they had some limited time CD promotion(s). Had no idea I would have an HP leveled against me. The rep advised it would not be. At the time, it was a count liability foe me.

        • Ann says:

          Good time for a general reminder for anyone concerned about hard pulls: the vast majority of credit unions will do a hard pull when you join, and their customer service reps often aren’t well-trained on such nuances.

      • There used to be a workaround but that no longer works.

    • Ann says:

      If a parent or grandparent was ever in the military, you can join NFCU.

  9. Mike A. says:

    I joined Navy Federal about a month ago over the phone and there was NO hard pull on my credit. As a member I then opened a 3% APY CD without a hard pull.

  10. Enrico says:

    I’ like to see more of short term CD’s 3% and up is worth the effort especially with no requirements. Here You need to be member which I’m not eligible for (no relation/connection to military).

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