Navy Federal Credit Union Certificate (CD) Rates: May 2024

Navy Federal Credit Union offers several “Share Certificates,” with terms ranging from three months to seven years. Share certificates are the credit union equivalent of certificates of deposit (CDs) found at banks. Navy Federal’s certificate rates tend to be fairly competitive compared to other credit unions and online banks. A $1,000 minimum deposit is required.

Here’s an overview of Navy Federal Credit Union’s standard certificate rates. Rates are accurate as of May 3, 2024.

Certificate Term	APY	Minimum Deposit
3 Months	2.75%	$1,000
12 Months	4.80%	$1,000
18 Months	4.50%	$1,000
24 Months	4.20%	$1,000
36 Months	4.00%	$1,000
60 Months	3.80%	$1,000
84 Months	3.80%	$1,000

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Slightly higher rates are available for a minimum deposit of $100,000.

In addition to its standard certificates, Navy Federal Credit Union also offers EasyStart Certificates, with a minimum deposit of $50 and terms ranging from 12 months to 24 months. The credit union’s Special EasyStart Certificate has a 12-month term and pays 5.30% APY, but only on deposits up to $3,000 and only for customers who have a Navy Federal checking account and direct deposit. With all EasyStart Certificates, you have the flexibility to add money at any time.

Overview of Navy Federal Credit Union Certificates

Navy Federal Credit Union requires a minimum opening balance of $1,000 for its standard certificates. EasyStart Certificates have a lower minimum deposit requirement of $50 and are comparable to standard certificates, with APYs ranging from 4.15% to 4.75%.

On Navy Federal certificates, dividends compound daily and are credited monthly.

If you take money out of your Navy Federal Credit Union certificate before the term is up, you will pay a penalty for early withdrawal.

For certificate terms of one year or less, the early withdrawal penalty is the lesser of all dividends for 90 days on the amount withdrawn or all dividends on the amount withdrawn since the date of issuance or renewal. For certificate terms of more than one year and no more than five years, the early withdrawal penalty is the lesser of all dividends for 180 days on the amount withdrawn or all dividends on the amount withdrawn since the date of issuance or renewal. For terms greater than five years, the penalty is even stiffer.

Overview of Navy Federal Credit Union Standard Certificates	Details
Minimum Deposit	$1,000
Term Lengths	3, 12, 18, 24, 36, 60, 84 months
Compounding Schedule	Daily
Early Withdrawal Penalty	“Terms of 1 year or less: 90 days’ dividends on the amount withdrawn or all dividends on the amount withdrawn since the date of issuance or renewal, whichever is less Terms of more than 1 year and up to 5 years: 180 days’ dividends on the amount withdrawn or all dividends on the amount withdrawn since the date of issuance or renewal, whichever is less Terms of more than 5 years: 365 days’ dividends on the amount withdrawn or all dividends on the amount withdrawn since the date of issuance or renewal, whichever is less”
Grace Period for Penalty-Free Withdrawals After Maturity	21 days

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How Much Can You Earn With Navy Federal Credit Union’s Certificate Rates?

Navy Federal’s certificate rates are significantly higher than rates offered by many major national brick-and-mortar banks.

Find out what you can earn with a Navy Federal CD using our CD calculator:

How Navy Federal Credit Union’s Certificates Compare

Navy Federal’s certificate rates are significantly higher than the national average CD rates. For example, according to data from the FDIC, the average rate on a 12-month CD is 1.81% as of April 2024, while the same term from Navy Federal currently earns 4.75% APY. This credit union’s rates are also competitive with some of the best CD rates.

The minimum deposit is $1,000, which is less than some banks require. And, depending on the term, you may find a better APY with Navy Federal Credit Union than even some of the best online banks can offer. If a $1,000 minimum deposit is too much for your savings goals, Navy Federal also offers EasyStart Certificates, which you can open with a minimum of $50, but these pay slightly lower rates than Standard Certificates.

To get the best rate possible, make sure to shop around and compare rates at multiple banks and credit unions.

About Navy Federal Credit Union

Navy Federal Credit Union was founded in 1933 and is a nonprofit, member-owned credit union that serves members of the military, veterans and their families. It also serves Department of Defense personnel. The credit union has some 13.2 million members and 350 branches worldwide. Navy Federal’s accounts are insured by the National Credit Union Administration (NCUA), for up to $250,000 per member.

To be eligible for membership in Navy Federal Credit Union, you must be a current or retired member of the armed forces, an immediate family member of a member of the armed forces or a Department of Defense civilian employee or retiree. Department of Defense contractors assigned to U.S. government installations and U.S. government employees assigned to Department of Defense installations can join as well.

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