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Navy Federal CD rates

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Navy Federal
1-year APY
4.40%
3-year APY
4.20%
5-year APY
4.20%
All information about this product has been collected independently by Finder.

Summary

Competitive interest rates and a 0.05% APY boost if you deposit at least $100,000.

Navy Federal Credit Union offers an assortment of CD terms from three months to seven years. While its short-term CDs have mediocre APYs, its interest rates jump significantly when you lock away your cash for at least one year.

Keep in mind that Navy Federal Credit Union membership is reserved for service members of the armed forces, including active duty and retired members, veterans, their families and Department of Defense personnel. If you qualify, you must sign up for its Membership Savings account before opening a CD.

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Overview of Navy Federal CD rates

Navy Federal‘s standard CDs offer a variety of terms from three months to seven years. All come with a $1,000 minimum deposit requirement and compound on a daily basis. Its CD rates are the most competitive when you lock away your money for at least one year. And if you deposit at least $100,000, you’ll get a 0.05% interest rate boost. Here’s a breakdown of Navy Federal standard CD rates depending on your balance.
CD TermAPY with $100,000 minimum depositAPY with $1,000 minimum deposit
3 months1.25%0.80%
6 months0.5%0.45%
12 months4.4%3.75%
18 months3.9%3.85%
24 months4.2%3.25%
3 years4.2%4%
5 years4.2%3.40%
7 years4.2%3.45%

Other types of CDs

Navy Federal Credit Union also offers two additional types of CDs that let you add money to your CD at any time and has a low minimum deposit of $50.
  • EasyStart CDs. Choose from four terms ranging from six months to two years with no account maximum.
  • Special EasyStart CDs. CDs with a 12-month term and a maximum balance of $3,000, but you need a checking account with direct deposit to open.

More about Navy Federal CDs: Deposits, fees and details

What it isDetailsDoes it matter
Minimum deposit
  • Standard CDs: $1,000
  • EasyStart CDs: $50
  • Special EasyStart CDs: $50
A $1,000 opening deposit is fairly standard for CD accounts, although some banks offer $0 or $500 minimum deposits.
Term range3 months to 7 yearsNavy Federal offers more CD terms than competitors. Most typically offer CDs up to 5 years.
Early withdrawal penaltiesWhile you can withdraw your earned interest without penalty, cashing out your principal will incur an early withdrawal penalty of:
  • For CD terms 1 year and less: Interest accrued up to 90 days’ worth
  • For CD terms greater than 1 year but less than 5 years: Interest accrued up to 180 days’ worth
  • For CD terms 5+ years: Interest accrued up to 365 days’ worth
This is more lenient than competitors. And unlike other banks that charge a flat fee, Navy Federal‘s early withdrawal penalty is equal to the amount of interest you’ve earned to date, so you’ll never lose your principal.
Grace period0 daysThis is extremely severe. Most banks give you at least 10 days after the maturity date to cash out. But at Navy Federal, you must contact customer service on or before your maturity date to withdraw your funds before it automatically rolls over.
CashoutWithdraw your funds to a checking or savings account or request a check.While some banks may charge a fee for a check cashout, Navy Federal lets you withdraw your cash for free via check or ACH transfer.
RolloverYour CD automatically renews into a new CD account unless you contact Navy Federal on or before the maturity date. You’ll receive a notice at least 20 days before maturity via mail or email, depending on whether you opt for electronic statements.Rolling over into a new CD is standard practice for CD accounts.

How Navy Federal‘s CDs and rates compare

Navy Federal offers highly competitive interest rates for 1-year terms and longer — even if you don’t get the 0.05% APY bump for balances $100,000 and up. But you might want to skip its 3-month and 6-month CDs. While its rates are greater than the national average, they pale in comparison to other banks.

But where Navy Federal stands out is its early withdrawal penalties, which are kinder than its competitors. You’ll only pay the interest you’ve accrued to date, which is also capped. That means the fee will never come out of your principal.

Keep in mind that you’ll need to give notice that you want to withdraw your funds before your maturity date, or it’ll automatically rollover into a new CD.

Not sure Navy Federal‘s the right choice? See our list of the best CD rates on the market.

Compare Navy Federal to competitor rates

Choose up to four products and select Compare to see how they stack up against Navy Federal.

Name Product 6-month APY 1-year APY 5-year APY Minimum deposit to open
Crescent Bank CDs
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Crescent Bank CDs
N/A
4.85%
3.90%
$1,000
Earn competitive rates up to 4.85% APY (annual percentage yield) on terms ranging from 1 to 5 years. Pay $0 maintenance fees. Member FDIC.
Alliant Credit Union CDs
Finder Rating: 4.8 / 5: ★★★★★
Alliant Credit Union CDs
5.00%
5.15%
4.00%
$1,000
Lock in rates as high as 5.15% APY with a low $1,000 minimum deposit. Compounded monthly. FDIC insured.
Western Alliance Bank 12 months CDs through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Western Alliance Bank 12 months CDs through Raisin
N/A
5.05%
N/A
$1
Get 5.05% APY on a 12 month CD, and earn an APY that’s higher than the national average. Pay no fees and just a $1 minimum deposit. FDIC insured.
Valley Direct Online CD
Finder Rating: 5 / 5: ★★★★★
Valley Direct Online CD
N/A
4.50%
N/A
$500
Earn 4.50% APY on a 12 month CD. FDIC insured per depositor, per account ownership category.
Quontic Bank CDs
Finder Rating: 5 / 5: ★★★★★
Quontic Bank CDs
5.05%
4.50%
4.30%
$500
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less. Member FDIC.
Ponce Bank CD through Raisin
Finder Rating: 4.9 / 5: ★★★★★
Ponce Bank CD through Raisin
4.00%
N/A
N/A
$1
Snag the highest APYs on the market for the shortest CD terms via Raisin. FDIC insured.
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