Navy Federal Credit Union Variable Rate Certificate

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).

Key Takeaways

• Only one CD account type available. Navy Federal CD only offers traditional CD accounts.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.38%, which is much higher than the national average for a certificate account.
• $500 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
• Limited selection of CD terms. Navy Federal CD only offers one CD term. This limits your options when trying to set up a certificate ladder.

Pros & Cons of Navy Federal Credit Union Variable Rate Certificate

Navy Federal Credit Union Variable Rate Certificate FAQ

Are CDs from Navy Federal Credit Union federally insured?

Yes, your Navy Federal Credit Union CD accounts are insured up to $250,000 per share owner for each account ownership category. 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?

• Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD for another term.

What CD rates does Navy Federal Credit Union offer on its CDs?

The CD rates for this account have an APY of0.38% (APY stands for annual percentage yield, rates may change).

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

Navy Federal CD requires a minimum deposit of $500 to open an account.

What is the grace period for Navy Federal CD?

There is a 21-day grace period for Navy Federal CD. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 21-day grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does Navy Federal CD charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

Navy Federal Credit Union charges an early withdrawal fee.