When it comes to credit unions, it is called a certificate instead of a CD. Certificates are considered a low-risk investment option, as they are insured by the National Credit Union Administration (NCUA) up to certain limits.
Navy Federal Credit Union offers a variety of certificate options with different terms and interest rates, allowing members to choose the option that best fits their savings goals and needs. They also offer other savings and investment products, such as savings accounts, money market accounts, and individual retirement accounts (IRAs).
Navy Federal Certificates
APY Range
Minimum Deposit
Terms
Fees
Navy Federal Certificates CDs
APY Range
Minimum Deposit
Terms
Fees
Navy Federal Certificates Rates
The rates offered by Navy Federal can vary depending on several factors, such as market conditions, the length of the CD term, and the amount of deposit.
Overall, the rates are high compared to what you can find at traditional banks and inline with other credit unions and online banks. The 15-month special CD offer one of the highest rates in the market, as of March 2023.
CD Term | APY |
|---|---|
3 Months | 1.25% – 1.30% |
6 Months | 0.45% – 0.50% |
12 Months | 4.40% – 4.45% |
18 Months | 3.85% – 3.90% |
24 Months | 4.20% – 4.25% |
36 Months | 4.20% – 4.25% |
60 Months | 4.20% – 4.25% |
84 Months | 4.20% – 4.25% |
15 Months (Special CD) | 5.00%
|
How Much Can You Earn If You Deposit $100,000 Today?
The amount you can earn from a $100,000 deposit in a certificate of deposit (CD) will depend on several factors, including the interest rate offered by the financial institution, the term length of the CD, and the frequency of interest payments.
As an example, if you deposit $100,000 in a Navy Federal CD, the anticipated earnings (before taxes), assuming interest compounds everyday and there is no early withdrawal fee, are as follows:
CD Term | Interest Earned |
|---|---|
3 Months | $309 – $321
|
6 Months | $222 – $247
|
12 Months | $4,435 – $4,487
|
18 Months | $5,861 – $5,939
|
24 Months | $8,637 – $8,744
|
36 Months | $13,232 – $13,399
|
60 Months | $23,012 – $23,316
|
84 Months | $33,637 – $34,099
|
15 Months (Special CD) | $6,358
|
How Navy Federal Certificates Work
Customers have access to a wide selection of Certificates from Navy Federal. The minimum deposit, tier level, interest rate, penalties, and a host of other factors could vary between Certificates.
Navy Federal Certificates are a particular category of savings account that Navy Federal Credit Union offers. They often have a minimum opening deposit and give an interest rate that is higher than a standard savings account. The depositor consents to hold the funds in the account for a predetermined period, which can be anywhere between 3 months – 7 years.
For the duration of the certificate, the interest rate is fixed, and the depositor can receive a higher rate than with a conventional savings account. Before the period expires, the depositor won't be able to take money out of the account without paying a fee. To open a certificate account, you must be a member of Navy Federal credit union.
CD Term | Early Withdrawal Penalty |
|---|---|
3 Months | Dividends for 90 days
|
6 Months | Dividends for 90 days |
12 Months | Dividends for 90 days |
18 Months | Dividends for 180 days |
24 Months | Dividends for 180 days |
36 Months | Dividends for 180 days
|
60 Months | Dividends for 365 days
|
84 Months | Dividends for 365 days |
15 Months (Special CD) | Dividends for 180 days
|
Navy Federal Certificates Rates vs Savings Rates
Navy Federal provides savings accounts in addition to checking accounts since it is a highly competitive credit union.
The savings accounts have a few significant differences from a Certificates account with Navy Federal The interest rates will be much lower, first and foremost. The current interest rate for a Navy Federal savings account is 0.40% APY, which is significantly less than what is offered for certificates or even for other savings accounts.
However, the minimum deposit for savings account is lower than the required minimum for Navy Federal CDs.
CDs | Savings | |
|---|---|---|
APY | 0.45% – 5.00% | 0.40% |
Minimum Deposit | $1,000 | $5 |
Fees | $0 | $3 per quarter (waived if your balance over $50) |
About Navy Federal Credit Union (NFCU)
Navy Federal Credit Union (NFCU) is a not-for-profit credit union based in Vienna, Virginia. It is one of the largest credit unions in the United States, serving over 9 million members globally, with a strong focus on serving members of the United States military and their families.
Navy Federal Credit Union offers a wide range of financial products and services, including checking and savings accounts, loans, mortgages, credit cards, and investment services. The credit union operates over 300 branches worldwide and provides 24/7 access to its services through online and mobile banking.
