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Navy Federal CU Has Top Rate 20-month and 30-month IRA Specials


Navy Federal Credit Union (Navy Fed) is starting the gift-giving season off with a 20-month IRA/ESA Special (2.00% APY) and a 30-month IRA/ESA Special (2.25% APY).

The minimum deposit for the 20-month IRA/ESA Special is $20, with a balance cap of $20K. There is a limit of one 20-month Special per member, but additional deposits are accepted at any time to that one 20-month Special. According to CSR, the Early Withdrawal Penalty (EWP) is 6 months interest.

The 30-month IRA/ESA Special requires a $10K minimum opening balance and there is no balance cap. Like the 20-month Special, the EWP is 6 months interest.

For complete details on these two Specials, please refer to Navy Fed’s Special Offerings page.

Unfortunately, not everyone is offering is spreading holiday cheer through good rates. At this point, Pen Fed’s rates are definitely the lump of coal at the bottom of every saver’s stocking, particularly when compared to last year’s rates. We can only hope there is a Santa Claus!

A special thank you to the DA member from California who emailed me about this deal!


Unlike PenFed’s almost universal membership eligibility through joining an association, Navy Fed’s membership is strictly for individuals who are connected to the military.

Navy Fed’s "How to Become a Member" page very clearly qualifies individuals through a series of questions. You must be able to answer "Yes" to one of the following questions to qualify for Navy Fed membership.

  • Are you currently serving as an Active Duty or reservist personnel for the DoD, Coast Guard, or National Guard?
  • Are you a Military Officer Candidate?
  • Are you a Military Recruit and/or part of the Delayed Entry Program (DEP)?
  • Are you a Department of Defense Civilian?
  • Are you a retiree receiving an annuity from the DoD, Coast Guard, or National Guard?
  • Are you a U.S. government Civilian (including Coast Guard) assigned to a DoD installation?
  • Are you a DoD contractor assigned to a U.S. government installation or facility?
  • Are you a family member of one of the previously mentioned individuals?

Opening an account at Navy Fed can be done online or at any of 247 branches located in 28 different states, the District of Columbia, and Guam.

Credit Union Overview

Navy Federal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 4.18% (excellent) based on June 30, 2014 data. In the past year, Navy Fed has increased its total deposits by $2.77 Billion, an excellent annual growth rate of 6.95%. Please refer to our financial overview of Navy Federal Credit Union for more details.

Navy Federal Credit Union (NCUA Charter # 5536) is considered to be the largest credit union in the world. Headquartered in Vienna, Virginia, Navy Fed has grown from its initial seven members in 1933, to over 5 million members and assets in excess of $60 Billion.

How the IRAs Compare

When compared to other similar length-of-term IRAs tracked by DepositAccounts.com, that require a similar minimum deposit and available nation wide, Navy Federal Credit Union's 20-month IRA Special and 30-month IRA Special are clearly competitive:

To look for the best nationwide IRA rates and the best IRA rates in your state, please refer to our IRA rates table.

Related Pages: Navy Federal Credit Union
Hoody   |     |   Comment #1
What exactly is the difference/advantage/dis advantage to an IRA CD opposed to a regular CD?

I don't have any deductions on my tax's so don't see anything there, other than that is there any different way to redeem them or what? I don't waht to "postpone" tax either, I'd rather pay them as they come and be done with them, and I don't like being "made" to withdraw funds cause I'm over some age or be hosed by the IRS just cause I don't wana spend it.

Just never understood this type of CD. Never had any "IRA" either,
Anonymous   |     |   Comment #2
Then don't be concerned about the differences, which I suspect you already know what they are.  And just because the IRS demands MRDs from IRAs at age 70 1/2, doesn't mean you have to spend it. 

Different strokes (financial planning) for different folks. 
Hoody   |     |   Comment #3
yeah OK, "different stroaks" I guess, different income brackets is probably more like it.

 I wasn't really meaning "spend" spend, I guess I meant being "required" to withdraw, I mean a regular CD doesn't make me do that, why not be able to leave it alone, and just take some amount when YOU want it out.