Navy Fed Adds 5-Year Certificate Special


Deal Summary: Certificate Specials – 5-year (3.00% APY), 18-month (2.25% APY), $1k minimum deposit.

Availability: Nationwide, but with membership requirements (military relationship)

May is Military Month. To mark the occasion, Navy Federal Credit Union (Navy Fed) has added two Certificate Specials: a 5-year (3.00% APY) and an 18-month (2.25% APY). Both can be opened with a $1k minimum deposit, with no stated balance cap. Unlike past Navy Fed Certificate Specials, additional deposits are not allowed.

Note: While the promotion page states "Minimum deposit $1k up to $100k," the fine print reads, "No maximum purchase amount." The fine print also lists minimum deposits of $1k, $10k, $20k, $50k, and $100k, but the Certificate Specials do not have tiered APYs.

The Certificate Specials are also available as IRAs (Traditional, Roth, SEP, ESA), earning the same APYs with the same funding requirements.

I have to admit, I’m a bit disappointed with the Certificate Specials. Some of DA’s readers are more than a little disappointed, as indicated by their comments. Sometimes reality just can’t match our hopeful anticipation of more deals like the now-expired 32-month IRA CD Special (2.75% APY) or the 15-month CD Special (2.25% APY), which ended some time ago.

As stated in Navy Fed’s Certificates brochure, the Early Withdrawal Penalty reads as follows:

Certificates with a term greater than one year: Forfeiture of all dividends on the amount withdrawn for 180 days or since the date of purchase or renewal (whichever is less).

Certificates with a term of five years or greater: Forfeiture of all dividends on the amount withdrawn for 365 days or since the date of purchase or renewal (whichever is less).


Not to be confused with PenFed's almost universal membership eligibility, Navy Fed’s membership is strictly for individuals who are connected to the military, regardless of where they reside.

Navy Fed’s "Become a Member" page has a series of questions to determine membership eligibility.

You must be able to answer "Yes" to one of the following questions to qualify for Navy Federal Credit Union membership.

  • Are you or have you ever been affiliated in any way (includes Active Duty, reservists and retired personnel) with the Armed Forces, DoD, Coast Guard or National Guard?
  • Do you have a family member (grandparents, parents, spouses, siblings, grandchildren, children and household members) who at any time was affiliated with the military?
  • Do you have a family member (grandparents, parents, spouses, siblings, grandchildren, children and household members) who is already a Navy Federal member?

Joining Navy Fed and/or opening a Certificate Special can be done online or at any of 312 branches located in 30 different states, the District of Columbia, and Guam.

Credit Union Overview

Navy Federal Credit Union has an overall health grade of "A" at, with a Texas Ratio of 6.66% (excellent) based on December 31, 2017 data. In the past year, Navy Fed has increased its total non-brokered deposits by $7.12 billion, an excellent annual growth rate of 12.77%. Please refer to our financial overview of Navy Federal Credit Union (NCUA Charter # 5536) for more details.

Navy Federal Credit Union is considered to be the largest credit union in the world. Headquartered in Vienna, Virginia, Navy Federal has grown from its initial seven members in 1933, with more than 7,500,000 members and assets in excess of $90 billion.

How the Certificate Specials Compare

When compared to the 183 similar length-of-term CDs tracked by that require a similar deposit and are available nationwide, Navy Federal Credit Union’s 5-Year Certificate Special APY currently ranks second.

When compared to the 156 similar length-of-term CDs tracked by that require a similar deposit and are available nationwide, Navy Federal Credit Union’s 18-Month Certificate Special APY currently ranks seventh, 25 bps behind the term category leader.

The above rates are accurate as of 4/30/2018.

To search for the best CD rates, both nationwide and in state specific, please refer to our CD Rates Table page.

Related Pages: 1-year CD rates, 5-year CD rates, nationwide deals

deplorable 1
deplorable 1   |     |   Comment #1
This is a departure from their past CD specials and very disappointing. I can't see why anyone would open one of these. The rates are low, $1,000 min. vs. $50 previously and no add-on to boot. I guess I'll just keep $50 in the savings to keep the account fee free once my old 15 month 2.25% Add-on expires.
irv   |     |   Comment #5
Really? 3% is very 'disappointing'? Interesting....
Theresa   |     |   Comment #7
Sounds good to me.
Anonymous   |     |   Comment #10
I agree. I would not open a five year CD at 3% when interest rates continue to rise. Those who do may be sorry at the end of the year when one can get 3% on a 2 year CD, and a 4 to 5% on a 5 or 7 year CD. I would lock in long when interest rates are dropping, and lock in short when they are rising.
Rasputin   |     |   Comment #17
True. I have mistakenly opened long term CD's and then rates go up.....but over the life of them I fared ok because rates came back down pretty quickly......but who knows if that will happen this hard to know.
TheBombingRange   |     |   Comment #16
Navy only requires $50 in checking or savings to keep it free? No other activity/ACH requirement right?
NotSo Special
NotSo Special   |     |   Comment #2
When I can get a 2 year brokered CD at 2.75%, why would I bother with these offers?
QED   |     |   Comment #3
This is very well put, and I agree.

The situation reminds me of the gasoline price. When it is going up, all the stations change their prices upward virtually overnight. OTOH when gasoline prices are generally falling, our cost at the pump declines only EVER so slowly.

Now interest rates are generally rising, but the financial institutions are resisting with every fiber of their business beings. All we can do is try to wait them out. It's a safe course so long as interest rates do not change direction. And so far, at least through June, interest rates appear destined to continue going up.
Harry   |     |   Comment #6
Which interest rates are rising?

5 year treasury yields have risen 50 basis points this year. Much like CDs.

I think the hype on this board is confusing people.
anonymous   |     |   Comment #20
Harry (comment #6), let's look at the data:

This is a graph of 5-year Treasuries vs. 5-year average bank CD rates. (I also added the Fed funds rate for reference.) The 5-year rates tracked pretty well until about 2013. Since then, the 5-year CD rates have risen much less than Treasuries.'s 5-year CD rate graph looks a little better than the FRED graph, but still only up about 0.2% this year.

Keep in mind, the rates we are accustomed to see on this website represent the highest available in the US. So only about 20 out of over 10,000 institutions are currently offering a higher 5-year CD rate than the 5-year Treasury, even though Treasuries are safer and much more liquid than CDs. I would say this is pretty sad.

It would be interesting to find out what caused CD rates and Treasuries to diverge around 2013. Excess bank deposits really began to ramp up at that time.
Harrys Friend
Harrys Friend   |     |   Comment #22
Anonymous, why don't you answer the question, which rates are rising?

The chart you have has fundamental flaws. First, the 5 year CD starts Nov 2009. Not helpful when everything changed in 2008.

Second, the average rate is not helpful. Is this a simple average or a weighted average?

And yes indeed, the bottom 90% of the population could lose all their savings and banks would still have excess cash. This is a systemic change with wealth inequality which is not going to get better.
anonymous   |     |   Comment #25
Harry's Friend, I'm pretty sure you can figure out from the graph which rates are rising.

Secondly, CD rate trend charts are not easy to come by. I'm giving you the most authoritative data I could find. If you have better data, please share. Regarding the average, you can find it in the footnotes to the chart; it is a simple average. Would a weighted average be more representative? Of course, but please find that weighted average data for me. (I don't think it will show a lot of difference regarding the trend or magnitude of CD rates.)
Ted's Friend
Ted's Friend   |     |   Comment #27
Anonymous, 5 year Treasury yields have risen, as have 5 year CD rates. At least, the top CD rates. The question is, why do people expect CD rates to rise faster than Treasury rates?

Which interest rates do people think are rising faster than CD rates?

Your graph is not interesting because it starts in 2009. I am not going to look for better data because I don't care, and I don't think it is relevant. CD rates are rising, along with Treasuries.

There are numerous anomalies, including that long term rates are rising slowly, and foreign junk bonds yield less than US Treasuries. However, there are reasons for these also.
Ted   |     |   Comment #28
Thank you, Friend.

Indeed, when people complain about CD rates not rising, they are referring to the CD rates listed here, in this case, Navy Federal Credit Union.

They are not referring to "average" CD rates.
Harry   |     |   Comment #29
Indeed, Ted & Friend.
anonymous   |     |   Comment #34
Ted, Harry, Friend! These rates are rising, yes they can! I do not like green eggs and ham! Thank you, Ted. Thank you, Friend. Thank you, anonymous. We must not let CD rates drop! 10 apples up on top!
anonymous   |     |   Comment #35
Ted's friend and Harry, my recollection from the last interest cycle (~2006) is that many banks and CUs offered CDs that were at or higher than Treasury rates. Treasuries basically represent the prevailing risk-free interest rate.

The slow rise of the long-term rates is not an anomaly, it's normal for this point in the interest rate cycle (I can show you another uninteresting graph for this one, if you're interested.) I'll agree with you that the low foreign yields may be anomalous, but it could also be a reflection of foreign countries being at a different stage in the interest rate cycle or economic cycle.
irv   |     |   Comment #8
Because if you've got 100k laying around that's an extra $250 a year. And if you have several CD's maturing over the next 3 years, it's the way to go. Keep your money earning and always maximize return at the given moment.
Anonymous   |     |   Comment #9
If there is a difference of 50 basis points, that 0.50% interest x $100,000. That's $500. A 1/4 of 1% on $100K is $250.00 (same as 25 basis points I believe),
irv   |     |   Comment #13
You're not following the thread closely. I was replying to NotSo Special and his 2.75%.
Anon1   |     |   Comment #14
But brokered 5 year CDs are now paying 3.15%. So if you are willing to lock up money that long, you still do better with the brokered product.
Anon1   |     |   Comment #37
Fidelity now has brokered 5 year CDs paying 3.2%.
deplorable 1
deplorable 1   |     |   Comment #15
Check out the 2 year CD rates Greenwood credit union just popped up 2.8% on a 2 year CD. This is a much better deal than 3% on a 5 year. I bet those folks who locked in that 3% 7 year CD are regretting that move now. In 2 years CD rates could be up substantially. The inflation readings are ticking up higher and the FED may even hike faster than previously anticipated. I wouldn't go out past 2 years in this environment.
aaa   |     |   Comment #4
Underwhelming rate ... Kayak size.

From Navy we expect Aircraft Carrier size rates.
DOA   |     |   Comment #12
Not much has been impressive on rate increases except for shorter term 3 years and less. For a fairly long time, there has normally been a place to get 3% for 5 year terms, so this offer from Navy is really a joke.
Anonymous   |     |   Comment #11
As Ken says, Navy rates are very disappointing. I thought perhaps they might have a good special but not so. I will let my Navy Federal CDs mature and take the funds and park them in either money market accounts with the highest rate I can get temporarily or perhaps move some to brokerage to take advantage of U.S. Treasuries with no state income tax 1 year was 2.28 or 2.29 recently. Even that's a better deal than Navy Federal's 2.25 18 month --- not even an add-on. While many are waiting for better deals from other financial institutions, don't forget, even Navy Federal can have people read Ken's blog and if they get the idea that many are more than willing to accept low rates, then they will have no reason to increase their rates. Perhaps Pen Fed will increase their rates. After all, tomorrow is May 1st. We shall see.
meow   |     |   Comment #18
April 15th period each year), even if the corresponding "non-IRA" verison of the CD doesn't allow additional deposits.

I bring this up only because the description in the post is misleading if I'm right (that no Add-on funds are allowed for the non-IRA version -- but I'm assuming Add-on funds are allowed for the IRA version, like all their other IRA CDs).

Personally I'll pass on this though, since I opted for the 4% Sharonview (and 3% for a 5-year is more and more common now).
meow   |     |   Comment #19
For some reason the comment section is buggy tonight, it cut off most of my post and italicized everything so I'll try again:

What I tried to say is that the "no Add On" part of this CD is probably only for non-IRA CDs. If one wants to open up the IRA version of this, Navy usually allows you to add on new funds (up to your max allowed contribution) to their IRA CDs each year during the Jan 1 - April 15th period.

Buggy website tonight...
anonymous   |     |   Comment #21
EWP of "certificates with a term of five years or greater" is 365 days, but in the drop-down details above it is listed as 180 days for the 5-year CD special. What am I missing?
jbeckner   |     |   Comment #23
It has been updated to show 365 days
Mjs   |     |   Comment #24
My theory that in recent years the explosion of PenFed and NFCU spending tons of money on national advertising would lead them to offer “average” rates going forward, still holds.

Both of these credit unions have engaged in a ****ing contest to get bigger for bigger sake, leaving less money on the table to give back to members like they have historically.

I’ve passed on critical remarks to both groups, but unless other members also do so, I’m guessing the days of getting nice rates from these two outfits is over.
anonymous   |     |   Comment #26
Mjs, I agree with your point, but regardless of size, shouldn't credit unions still have a structural advantage over banks that allows for better rates? (Member-owned vs. investor-owned that needs to make a profit)

I suppose maybe PenFed and NFCU's field of competition has changed? Instead of competing with other CUs and community banks, maybe their main competition is large banks which have low CD rates?
3% is OK
3% is OK   |     |   Comment #30
I took the deal, and before you get too concerned, I do OK, with this one and another one at another CU I'll be at around 94.5K a year just cd's, retirement, and SS.and a small VA disability, And still have one coming due in July at navy to deal with at that time, and still sitting on 260 some in a MM at the other CU, when I decide on another CD depending on the rates by July I'll be over 6 figures a year, no debt, no bills except the usual taxes and normal living expenses, which amount to about 5 or 6 hundred a month, except the times I pay my estimated tax every quarter.

I don't much need to go nuts over every .25 point, I will be pulling down around 8K a month starting June, and spending 600, with those poor 3% CD's still sitting there. 3 till 21 and 2 till 23, with the other to be announced in July as I said.

So I don't need to run all over the web, stack coins, bag silver, dabble with the market (which I know little to nothing about and could care less) mess with art or other "old" stuff, or try to juggle 100 different credit cards .

I have my system and I stick to it, haven't listened to any so called "financial advisor" or what ever in my life, just saved my nickles and dimes, and lived a low ball life, I been around the world 2 times, and don't need or have any desire to go cruising or traveling.

Even with good health I won't have much more than another 20 to 25 years if lucky as it is, although I still lift 5 days a week and to aerobics 3 days.. And if I need some worthless nursing care in the future, well hell by than money really won't much matter either, or stacks of gold, or silver. And the vampires can suck whats left, I can't take it with me, smirk.....

To Just CD savers, happy saving :)
Luvcd   |     |   Comment #31
No need to pay estimated income tax...have it withheld from IRA or distribution in December and it is deemed to have been paid throughout the year
3% is OK
3% is OK   |     |   Comment #32
Just to make things clear, I never had a 401, IRA, or anything else, Just my military retirement. I NEVER had a deduction in my life, have always taken the standard deduction, even when I was paying a mortgage for 27 years, see I bought a house to live in, not "flip" it cost me less than the SUV's you buy now, a t even at 7% my payments were 210. I assumed VHDA loan of 37.600 in may of 80. And to tell the truth, I do as little as possible on it since it will end up going to the state in the end anyway.But paying less than 100 bucks a month on real estate tax its cheaper to just keep it than sell and pay 10 times more on a 1 bedroom apartment.

And with NO earned income, I don't qualify for any IRA anyway........

I also don't like doing business over the web when it comes to managing MY money, I like to see a real person face to face in case things go haywire if all you have is some web site or a phone number in some off the wall state.

I don't have any state tax being deducted from my military retirement so I end up paying est tax to the state on that plus the CD interest. The fed is the same although they do take fed tax out, but not from my SS, I just have part B taken from that on both.

BTW to those that lived close to that CU that had the 4% CD deal, good for you, I would have taken that too if I were near it.

But thanks for the concern.
Luvcd   |     |   Comment #33
What state do you live in ?
deplorable 1
deplorable 1   |     |   Comment #38
@3% is ok: Well not all of us are fortunate enough to have millions laying around to invest in low paying CD's. Pensions are almost non existent anymore. We NEED to make more money on our money right now today. We can't afford to lock money up at low rates after a decade of 0%. You are one of the lucky few who don't NEED higher rates. Unfortunately I need to rate chase, juggle cash back credit cards, bank bonuses, invest in dividend paying stocks, bonds, mutual funds and any other ways I can think of to eek out a decent return.
RJM   |     |   Comment #36
I cant get in Navy fed. And 3% is a yawner anyway. If I am going to lock my money up for 5 years, its going to have to be more than 3%.

I will be yanking out a large amount from Penfed in a few days. What will I do with it?

Vanguard does not offer any bonuses. I am already swapping some money over to Edge for a bonus.

What broker will give a nice cash bonus for $100k+?
RJM   |     |   Comment #41
I visited a few of the broker bonuses sites and I am transferring part of my IRA to Edge for a bonus. And I am currently with Fidelity and found a deal for 300 free trades for $50k in new money or 500 free trades for $100k. The free trades last 2 years. Since I am generally happy with them, I will probably transfer my Penfed proceeds. Mad about the $20 wire fee. Will keep that in mind before opening another CD with them. Stupid $5000 per day limit on ACH either way.

I like the idea of holding the CDs at my broker too.
Randy   |     |   Comment #39
May is NFCU's Military certificate month. No 2 or 3 year certificates? :(
Jeff   |     |   Comment #42
They know rates are going up, they did the opposite in 2009 when rates were going down, would lock you in for 18months at a high rate, knowing the rates would be low when your cd matured
Bloviating Gibberish
Bloviating Gibberish   |     |   Comment #43

With foresight like that, odd they choose to try to make money peddling CDs, instead of trading interest rate futures.

#44 - This comment has been removed for violating our comment policy.
Navy Fed Offers New Special Certificates

Deal Summary: 2.25% APY 15-month add-on CD, Maximum deposit $50k. 2.75% APY 32-month add-on IRA CD, Maximum deposit $250k.

Availability: Requires a connection to the military.

Navy Federal Credit Union (Navy Fed) has come out with two high-rate add-on certificate specials: a 15-month share certificate and a 32-month IRA Certificate. The 15-month share certificate has a 2.25% APY and a $50k maximum balance. The 32-month IRA certificate has a 2.75% APY and a $250k maximum balance. Both have a minimum deposit of only $50, and both have an add-on deposit feature...

Continue Reading
Navy Fed’s New Competitive Special Certificate: 5-Month ($10K Max)

Deal Summary: 3% APY 5-month add-on CD, Maximum deposit $10k.

Availability: Requires a connection to the military.

Navy Federal Credit Union’s (Navy Fed) has come out with another high-rate add-on certificate special. This new one has a 3.00% APY with a term of 5 months. The downside is a maximum balance of only $10k. Thus, if you’re not already a Navy Fed member, this special may not be worth the effort. However, if you’re already a Navy Fed member with enough extra cash sitting in savings or checking accounts, this is...

Continue Reading
Navy Federal CD Update: 17-Month Special Ends, Standard Rates Up

Deal Summary: New certificates rates. Noteworthy ones include 12-month (1.30% APY), 18-month (1.45% APY) and 24-month (1.60% APY), Minimum $100k.

Availability: Easy membership requirement

As they say, all good things must come to an end, and that’s the case with Navy Federal Credit Union’s (Navy Fed) special 17-month certificate. This was the add-on certificate with a 2% APY. It’s no longer available as of April 30th. If you already have this certificate, don’t forget that it allows add-on deposits up to $50k. I’m actually surprised it lasted as long as it...

Continue Reading
Navy Fed Adds 2.00% APY 17-Month Special Certificate
Availability: Nationwide, but with membership requirements (military relationship). Update: A new path to Navy Fed membership has been identified. Please refer to this post for details.

Navy Federal Credit Union’s (Navy Fed) 20-month Special Certificate is no longer available, but the Credit Union has filled the void with a new 17-month Special Certificate, which earns the same 2.00% APY as the 20-month did. The minimum opening deposit has been raised to $50, but the balance cap is now $50k (as opposed to the $20k for the 20-month), with additional deposits...

Continue Reading
Navy Federal CU Offers 30-month CD Special and 20-Month IRA
Availability: Nationwide, but with membership requirements (military relationship)

Over the weekend Navy Federal Credit Union (Navy Fed) added a 30-month Certificate Special (2.50% APY). Update: This special has expired.

The minimum deposit is $5K and there is no balance cap.

As stated in Navy Fed’s Certificate Brochure, the Early Withdrawal Penalty reads as follows:

IRA Special and Bonuses

Navy Fed is also offering a 20-month IRA Special Certificate (2.00% APY). This IRA (Traditional, Roth, and SEP) can be opened with as little as $20, with a $20K...

Continue Reading

More Past Offers

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.