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finder.com’s rating: 1.5 / 5.0
★★★★★
USAA offers rates from 0.01% to 0.04% 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.
0.03%
1-year APY
0.03%
3-year APY
0.03%
5-year APY
Star rate | 1.5 |
---|---|
3-month APY | 0.01% |
6-month APY | 0.01% |
7-month APY | 0.01% |
9-month APY | 0.01% |
1-year APY | 0.03% |
15-month APY | 0.03% |
18-month APY | 0.03% |
2-year APY | 0.03% |
30-month APY | 0.03% |
3-year APY | 0.03% |
4-year APY | 0.03% |
5-year APY | 0.03% |
7-year APY | 0.04% |
Early withdrawal penalty | 30 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 |
Minimum deposit to open | $1,000 |
Interest compounding | Monthly |
Review by
Katia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).
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.
The quickest way to open a CD is online. These are the steps:
CDs are open to USAA members. If you’re not a member yet, you must meet one of these eligibility requirements:
To qualify for a CD, you’ll also need to be:
USAA will ask for the following info in the application:
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.
USAA has three types of fixed CDs with terms ranging from 30 days to seven years:
Standard CDs | Earn up to 0.04% APY with a $1,000 minimum deposit |
---|---|
Jumbo CDs | Earn up to 0.04% APY with a $95,000 minimum deposit |
Super Jumbo CDs | Earn up to 0.04% APY with a $175,000 minimum deposit. |
Decent APYs and compound interest are a couple of benefits to USAA’s CD, as well as:
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.
When your CD matures, it will automatically renew. You have a 10-day window to withdraw it or invest in a new CD.
Questions? You can contact customer service by:
New York
Texas
The bank has two savings accounts that are FDIC-insured and have no monthly service fees: