Navy Federal Credit Union Variable Rate Certificate Review

Navy Federal Credit Union Variable Rate Certificate is offered by Navy Federal Credit Union, a credit union founded in 1933 and based in Vienna, VA. Navy Federal Credit Union Variable Rate Certificate is available in 50 states (and Washington, DC).

Are cd accounts from Navy Federal Credit Union federally insured?

Yes, your Navy Federal Credit Union cd accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

What types of CDs does Navy Federal Credit Union offer?

• IRA
• Traditional

What APY does Navy Federal Credit Union offer on its CDs?

Navy Federal Credit Union Variable Rate Certificate offers an APY of 2.92% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

What is the minimum deposit to open a CD account with Navy Federal Credit Union?

Navy Federal Credit Union Variable Rate Certificate requires a minimum initial deposit of $500 to open an account.

What types of early withdrawal penalties does Navy Federal Credit Union Variable Rate Certificate charge?

Financial institutions don't typically charge many fees on certificate of deposit accounts. However, some do charge a fee if you chooose to withdrawal your money before the CD term ends.

Navy Federal Credit Union does not charge an early withdrawal fee.