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New High-Rate Long-Term CDs


The Pentagon Federal Credit Union (Penfed) has just issued new rates on its CDs. The new rates on its 3-to-7 year CDs are excellent. The 36-month certificate of deposit is at 5.50% APY. The 7-year CD is at 6% APY. The minimum required deposit is $1K. Here’s a summary of the rates:

Term APY
7 year 6.00%
5 year 5.75%
4 year 5.50%
3 year 5.50%

For comparison, the best 60-month CD listed today at Bankrate.com is 5.15% APY at ETrade.com.

Penfed is one of the few credit unions in which anyone in the nation can join. As I first mentioned in this post, all that is required to be eligible is joining the National Military Family Association which has a membership fee of $20.