Tuesday, March 1, 2011 - 8:34 AM

PenFed Cuts CD Rates By 25 Basis Points

Pentagon Federal Credit Union (0 stars) - Details

I'm afraid PenFed released new lower CD rates for the start of March:

2.75% APY 7-year CD (was 3.00%)
2.25% APY 5-year CD (was 2.50%)
2.00% APY 4-year CD (was 2.25%)
1.50% APY 3-year CD (was 1.75%)
1.25% APY 2-year CD (was 1.50%)
1.00% APY 1-year CD (was 1.26%)

I remember when they used to offer 6% CDs, these 6% deals were usually available only for a few times a year (January and February were the most common time). Rates were lower for the other months. So hopefully, we'll see better rates later this year.

KenBDG4,048 posts since
Nov 29, 2009
Rep Points: 106,905

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Summary

1. Tuesday, March 1, 2011 - 8:50 AM

I have a check in hand --was going to mail it today for a 7 yr. IRA CD at the 3%. Not now. Going to do some looking around now.

diamondx43 posts since
Jan 19, 2011
Rep Points: 99

2. Tuesday, March 1, 2011 - 2:08 PM

Not good. Guess I'll have to scratch PenFed off my list come August (when my next rung matures), unless they raise their rates dramatically. FWIW, this makes that Dime Savings IRA look even tastier. I was really hoping PenFed would be a leader, you know forward looking, and all that. Oh well.

Bozo60 posts since
Feb 14, 2011
Rep Points: 422