Navy Federal Unveils 24-Month CD Special, 3.00% APY


Deal Summary: 24-month Certificate Special, 3.00% APY, $10k minimum deposit.

Availability: Nationwide, but a military relationship required for membership.

When I last wrote about Navy Federal Credit Union (Navy Fed) in April, I noted that since the 32-month IRA CD Special (2.75% APY) and the 15-month CD Special (2.25% APY) had expired, there hadn’t been any exceptional rates at Navy Fed. As of today, that has changed with the introduction of a 24-month Certificate Special earning 3.00% APY. The minimum opening deposit is $10k, with no stated balance cap.

3.00*%$10k-Navy Federal Credit Union24 Month CD
OTHER TIERS: 2.50% $1k - $10k
3.00*%$10k-Navy Federal Credit Union24 Month IRA (Traditional, Roth, SEP)
OTHER TIERS: 2.50% $1k - $10k
3.00*%$10k-Navy Federal Credit Union24 Month ESA
OTHER TIERS: 2.50% $1k - $10k
Rates as of November 19, 2018.

The Certificate Special is also available as an IRA (Traditional, Roth, SEP, ESA), earning the same APY with the same funding requirements.

Note: The fine print on the promotion page is a little confusing at first glance.

Minimum purchase amounts of $10,000, $20,000, $50,000, and $100,000.
No maximum purchase amount.

Even though today is a federal holiday, Navy Federal’s Live Chat was available to answer my questions about the four listed minimum purchase amounts. Long story short,

  • The minimum opening deposit is NOT limited to $10k, $20k, $50k, or $100k.
  • The Certificate Special can be opened with any amount of at least $10k.
  • There is no balance cap.
  • The Certificate Special does not have tiered APYs.

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Certificates with a term greater than one year: Forfeiture of all dividends on the amount withdrawn for 180 days or since the date of purchase or renewal (whichever is less).


Unlike PenFed's almost universal membership eligibility, Navy Fed’s field of membership includes individuals who have a military connection, 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. Note: many people can answer "Yes" to the second question.

  • 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 318 branches located in 30 different states and the District of Columbia.

Credit Union Overview

Navy Federal Credit Union has an overall health grade of "A" at, with a Texas Ratio of 5.52% (excellent) based on June 30, 2018 data. In the past year, Navy Fed has increased its total non-brokered deposits by $7.89 billion, an excellent annual growth rate of 13.08%. Please refer to our financial overview of Navy Federal Credit Union (NCUA Charter # 5536) for more details.

Headquartered in Vienna, Virginia, Navy Federal Credit Union is considered the largest credit union in the world. Founded in 1933 as the Navy Department Employees’ Credit Union of the District of Columbia, Navy Federal has grown from its initial seven members to more than 7,900,000 members and assets in excess of $91 billion.

How the Certificate Special Compares

When compared to 193 nationally available similar length-of-term CDs tracked by that require a minimum deposit of $10k or less, Navy Federal Credit Union’s 2-Year Certificate Special APY currently shares the top spot with CD Bank’s 24-month CD APY and ConnectOne Bank’s 23-month Online CD APY.

The above rates are accurate as of 10/8/2018.

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

Related Pages: 5-year CD rates, nationwide deals

spentcattle   |     |   Comment #1
Just wondered if folks had any ideas on why we are seeing so few offers on five year CD's and when they are barely above others? Thanks.
Pablosavin   |     |   Comment #7
The reason is these rates may not last for over four years. The economy may implode and the Feds will lower rates to try to keep it alive. The ten year rate isn’t so great either. Been laddering ten years down to 36 monthd
dollarsncents   |     |   Comment #8
My thoughts too. About rates going south in a couple of years could be the reason banks and CUs are reluctant to raise rates on long term CDs any appreciable amount. Even with CDs its somewhat of a gamble. Nobody knows for sure what the future holds.

I started laddering CDs many years ago and am quite satisfied with the returns. No "rate chasing" and no concern about EWPs.
me1004   |     |   Comment #10
No, the reason is because longterm bonds have not been rising as have been short-term securities. That was even bringing fear of an imminent recession.

However, the 10-year T-Bill is now rising, that's even affecting the stock market at the moment. So, stay posted, you will probably see longer term CDs starting to rise at least some before too long. Still, locking into one at the start of that rise might leave you a year from now wishing you had waited.
ripeningrapidly   |     |   Comment #2
Is this a wise choice...... to lock up your monies for 24 months with the Fed announcing 25 pts interest rate increase a week or so ago and with one more plan in Dec and several more planned in 2019. I did the NASA 3.25% 15 months certificate last month and was concerned with that. If this was 12 mo maybe.....but on the other hand...... I know nothing.
QED   |     |   Comment #3
I disagree. I believe your thinking is spot on, and in my view you are pretty smart . . . at least for certain regarding CD strategy!
contrary strategist
contrary strategist   |     |   Comment #4
wow, contrary strategy for sure, but give it some thought.

Most people expect rates to fall, and there is reason to buy when others are fearful!
me1004   |     |   Comment #11
Who has suggested falling rates?! Even Fed officials has indicated they expect at least three more rate hikes next year. And the 10-year T-bill is now finally on the rise.
Att   |     |   Comment #5
I put some in NASA too for 15 months and have a large CD that's coming due in a couple of days. What I have been doing is opening CDs with just some of the funds I have available. When a good offer comes along I open another small CD. Your not going to be making the highest rates on all your money. At this time I like the short term CDs around 3%. If a great long term CD comes along I'll open it with a large amount but it has to be a show stopper like Penfed offered in the past.
No Stocks
No Stocks   |     |   Comment #6
funny in a way, those 7yr 3.1% CD's I opened back when are actually now 2yr 3% CD's :)

I also did open 2 3% 5yr CD's not too long ago, but I'm OK, I figure if rates go that high as some seem to expect, I can always close a couple, or just wait it out till early 2021. If rates go "REALLY" high like 6% 5yr, I would just take the EWP on the 2 new 5yr 3% ones anyway.
highrate   |     |   Comment #9
THe 3.63 percent 5 year cd from ussfcu may be the highest rate we will see in the next 5 years. Who knows?
No Stocks
No Stocks   |     |   Comment #12
Uh oh........ Maybe the fed has already given some inside info to the banks. I'll keep it on hold till after the new year before I decide what to do going forward.

"I don’t like what the Fed is doing", Trump told reporters at the White House. "I think we don’t have to go as fast" on rate hikes.
what stocks?
what stocks?   |     |   Comment #13
"I don’t like what the Fed is doing", Trump told reporters at the White House. "I think we don’t have to go as fast" on rate hikes. "I like low interest rates," Trump said.
mvbosch   |     |   Comment #14
I have a happy story. I had a NFCU CD mature two weeks ago, and I went into a 3 year CD with 2.79%. Then I saw blog here about the 24 month CD at 3.00 apy. I called to ask NFCU to put my money into the special, and the CSR did it on the spot. After hours. Love this credit union.
Nothing   |     |   Comment #15
Got it! Trade in a variable 3 year CD that can “go through the roof” over the 3 years AND one can add to at 1&2 years...with minimal downside. NFCU loves doing business with you!
???   |     |   Comment #16

which two were those ? please
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...

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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...

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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...

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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...

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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...

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