We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

USAA CDs review

Last updated:  

Service members can find terms from 30 days to seven years. But higher rates are reserved for longer terms and higher deposits.

USAA offers rates from 0.25% to 2.05% for fixed rate CDs. At the end of the term, you have 10 days to cash out — and what comes next is up to you.

1.74%

1-year APY

1.77%

3-year APY

1.93%

5-year APY

Details

Minimum deposit to open$1,000
Interest compoundingMonthly
3-month APY0.25%
6-month APY0.56%
7-month APY0.56%
9-month APY0.56%
1-year APY1.74%
15-month APY1.74%
18-month APY1.79%
2-year APY1.76%
30-month APY1.61%
3-year APY1.77%
4-year APY1.87%
5-year APY1.93%
7-year APY2.05%
Early withdrawal penalty30 days interest for terms of 1+ months
90 days interest for terms of 2 to 12 months
180 days interest for terms of 13 to 59 months
180 days interest for terms of 60 + months

Expert review

Katia Iervasi

Review by


Katia Iervasi is a writer from Sydney, Australia. Her writing — and curiosity — has taken her around the world, and she now calls New York home. With a journalistic eye for detail, she navigates insurance and finance for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).

Expert review

USAA’s rates aren’t the best in the biz, but the bank makes up for that with flexibility. It caters to savers looking for fixed CDs with terms ranging from 30 days to 7 years — longer than most banks.

If you’re a USAA member who wants to stash your cash in one bank, you can earn solid returns with a higher initial deposit. If not, you may find more competitive rates elsewhere.

What types of CDs does USAA offer?

USAA has three types of fixed CDs with terms ranging from 30 days to seven years:

Standard CDsEarn up to 2.05% APY with a $1,000 minimum deposit
Jumbo CDsEarn up to 2.05% APY with a $95,000 minimum deposit
Super Jumbo CDsEarn up to 2.05% APY with a $175,000 minimum deposit.

Benefits of a USAA CD

Decent APYs and compound interest are a couple of benefits to USAA’s CD, as well as:

  • Flexibility. USAA has a broad range of CDs, with fixed terms ranging from 30 days to seven years. Many banks offer terms up to only five years.
  • Different types of CDs. USAA has three types of CDs to suit all types of savers: Standard, Jumbo and Super Jumbo CDs.
  • Additional deposits. You can add money to your CD in the 10 days after it matures.
  • Low initial deposit for standard CD. You only need $1,000 to open a Standard CD.

What to watch out for

    USAA appeals to a military-minded audience in many ways, but it does have its limitations.

  • Exclusive to USAA members. CDs and other banking products are only open to USAA members. To qualify, you need to be an active or former military member or an eligible family member.
  • Lower interest rates. Unless you have a long-term CD with a high deposit, you can most likely find better rates elsewhere.
  • Early withdrawal penalties. If you want to withdraw your money before the maturity date, you’ll be hit with a penalty fee.
  • Short customer support window. There’s no live chat feature and you’re limited to calling for support from Monday to Friday, 6.30 a.m. to 10 p.m. and Saturday, 8 a.m. to 6 p.m. CT. Outside of those hours, you’re limited to email or browsing the FAQs.

If you want a CD with higher interest and shorter terms, you’ll want to keep looking. Check out more of your options with our guide to CDs.

Compare with other CDs

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 5-year APY
CIT Bank Term CDs
1.8%
1.85%
1.4%
1.3%
1.7%
Radius Bank CDs
1.55%
1.6%
1.7%
1.85%
2.2%
BBVA CD
1.5%
1%
1%
Discover CDs
2%
2%
2.05%
2.05%
2.1%
Barclays Online CDs
2%
2%
2%
2%
2.1%
Ally High Yield CDs
2%
2.05% on CDs of $25,000+

2% on CDs of $5,000 to $24,999

1.9% on CDs of $0 to $4,999
2.1% on CDs of $25,000+

2.05% on CDs of $5,000 to $24,999

1.95% on CDs of $0 to $4,999
2.15%

Compare up to 4 providers

How do I open a CD?

The quickest way to open a CD is online. These are the steps:

  1. Go to the USAA website.
  2. On the homepage, hover over Products.
  3. Under Banking, click CDs.
  4. You’ll be taken to the main CD page. Press Open a CD.
  5. If you’re a USAA member, Log In with your online ID and password. Otherwise, set up an account by clicking Join Online.
  6. Fill out your personal, employment and citizenship information.
  7. Continue following the prompts to fund your account.

Eligibility

CDs are open to USAA members. If you’re not a member yet, you must meet one of these eligibility requirements:

  • An active, retired and honorably separated officer or enlisted personnel of the US military
  • An officer candidate in a commissioning program: Academy, ROTC, OCS/OTS
  • An individual with parents who are USAA members. This includes both biological and stepchildren
  • A spouse, widow, widower or not remarried former spouse of a USAA member

To qualify for a CD, you’ll also need to be:

  • At least 18 years old
  • A US Citizen or Resident Alien with a Social Security number and a passport, permanent resident card or state-issued ID
  • Pay the minimum deposit.

Required information

USAA will ask for the following info in the application:

  • Date of birth and contact details
  • Social Security number
  • State-issued ID, passport or permanent resident card
  • Banking details to fund your deposit

Funding options

You can fund your CD with a USAA bank account or a non-USAA account that’s set up for funds transfers. When you’re filling out the form, have your account number and routing number handy.

How do I cash in a CD?

When your CD matures, it will automatically renew. You have a 10-day window to withdraw it or invest in a new CD.

How can I get in touch with customer service?

Questions? You can contact customer service by:

  • Phone. Call 210-531-8722 or 800-531-8722 from Monday to Friday, 6:30 a.m. to 10 p.m. and Saturday 8 a.m. to 6 p.m. CT.
    • Fax. Dial 800-531-5717.
  • Email. Log into your account to send a secure message.
  • Social. Tweet your questions to @USAA_Help.
  • Mail. Address snail mail to:
    • USAA Federal Savings Bank
      10750 McDermott Freeway
      San Antonio, TX 78288
  • In person. Pop into one of the Finance Centers to get first-hand advice.

What other savings products does USAA offer?

The bank has two savings accounts that are FDIC-insured and have no monthly service fees:

  • The USAA Savings Account is ideal for starter savers. You can open an account with $25, and earn interest on your growing balance. Interest starts at 0.09% for balances below $999, and maxes out at 0.15% on balances of $10,000 or more.
  • The USAA Performance First Savings Account has higher interest rates, and the higher minimum deposit to match. You’ll need $10,000 or more to open an account. Then, you’ll earn 0.05% APY on balances under $10,000, and up to 1.42% on balances of $1 million or more.

Frequently asked questions

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site