- 3.50% APY 3-year
- 3.75% APY 4-year
- 4.00% APY 5, 7-year
Several readers have mentioned being offered an extra 0.25% for renewing their maturing PenFed CDs. So that makes the rates even more competitive.
For more details about PenFed's CDs and joining PenFed, please refer to this PenFed review post. Details of the CDs are available in the second page of PenFed's account application. The early withdrawal penalty is up to 180 days of interest for terms over 6 months to 5 years.
PenFed makes it easy for anyone to join and open accounts online. If you don't qualify based on military, employer or family, you can become eligible by joining the National Military Family Association (NMFA). Please refer to How to Join Overview Page for details. Joining NMFA and Penfed can be done at the same time all online. The yearly membership for NMFA is $20, but your membership in the association does not need to be maintained to continue as a Penfed member. You can also be eligible to become a member of PenFed if you are an employee or volunteer of the American Red Cross (refer to this PenFed page).
Most of the current PenFed deals are loan related. I described their latest credit card and loan deals in this May 10th post. They have one of the best cash-back credit cards.
PenFed's rating for safety and soundness at BauerFinancial remains at 5 stars (superior) based on 12/31/08 data. Bankrate.com gives it a lower rating of 3 stars (performing). This is also based on 12/31/08 data.
PenFed is one of the largest credit unions in the US with $13 billion in assets and 889,874 members. It's federally insured by the NCUA (Charter # 227).
Other High Certificate of Deposit Rates
For top CD rates nationally available, refer to my weekly rate summary. Many of the best CD deals are only locally available. To find the best deals in your state, refer to the index of state CD and bank deals.