Friday is Last Day for PenFed's 6 Percent CDs
I've just confirmed with a customer service rep that this Friday (Oct 12th) will be the last day to open the 6% Money Market Certificate. Pentagon Federal Credit Union (PenFed) started offering these 6.00% APY certificates on September 27th. Usually, the rates last for a month, but this time they were only going to offer them until they reached their deposit target.
These certificates have a yield of 6.00% APY for terms of 3, 4, 5 and 7 years. The minimum deposit is $1,000. For detailed information about these CDs and joining PenFed, please refer to this previous post.
The easiest way to open and fund the CD is by doing it online. I describe the ways to fund the CD in my last PenFed post. If you're a new member, the only problem with this is that your ACH transfer is limited to $25K. You should be able to do multiple online applications with each having a $25K ACH transfer. The customer service rep said you can also open the CD by phone and fund it with a wire transfer initiated by your bank. PenFed does not place any restrictions on wire transfers.
Thanks to the readers who mentioned this end date in the comments and emails.
Banks Mentioned in this Post:
|Pentagon Federal Credit Union|
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