Featured 1-Year CD Rates

Popular Posts

Featured Accounts

Navy Federal CU's 15-month Military Appreciation CD Is Very Competitive


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

For a limited time, Navy Federal Credit Union (Navy Federal) is offering a 15-month Military Appreciation CD (3.50% APY). The minimum opening deposit is a low $50, with a maximum balance cap of $7.5K. Additional deposits are permitted at any time, up to the balance cap.

If you’re concerned that the $7.5K balance cap reduces the value of this offering, consider the following:

The "Special Offers for Military" page details the specific direct deposit requirement for the 15-month Military Appreciation CD:

Certificate owner(s) age 18 and older must have Defense Finance and Accounting Service (DFAS) Direct Deposit of Net Pay or DFAS Allotment within 90 days of the certificate issue date.

If these requirements have not been satisfied by the 90th day, your Military Appreciation Certificate dividend rate will be reduced to the prevailing dividend rate of a standard EasyStartSM Certificate for the remainder of the certificate's term.

DA Member, Klink, wrote in a Forum posting, "So I asked if there was a specific allotment amount required. Nope. Therefore a $2.00 allotment from DFAS out of my retirement pay qualifies me." I was able to confirm that statement with CSR: there is no specific minimum allotment amount requirement.

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Certificates with a term greater than one year: Forfeiture of all dividends on the amount withdrawn for 180 days or since the date of purchase or renewal (whichever is less).

A special thank-you to DA Members, OAG and Klink, for their Forum comments on this offering.


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 Federal 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 the 15-month Military Appreciation CD can be done online or at any of 254 branches located in 29 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 5.52% (excellent) based on December 31, 2014 data. In the past year, Navy Federal has increased its total deposits by $4.13 Billion, an excellent annual growth rate of 10.32%. 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 Federal has grown from its initial seven members in 1933, to over 5.4 million members and assets in excess of $66 Billion.

How the CD Compares

When compared to other similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and available nationwide, Navy Federal Credit Union's 15-month Military Appreciation CD’s APY is clearly a standout.

The above rates are accurate as of 5/8/2015.

To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.

Related Pages: Navy Federal Credit Union

Related Posts

Cat Chance
Cat Chance   |     |   Comment #1
Just wondering if the "net pay deposit" from DFAS needs to be only one month, or must  my retired pay be deposited for 15 months. Tried calling but closed... didn't they used to have 24 hour customer service?
klink   |     |   Comment #2
Yes they do have 24 hr. service. The number is 1-888-842-6328. You will need your account access number and your telephone password if established. Good question though. I just went ahead and assumed the deposit was for the entire length of the CD and that is also why my allotment was for so little.
Anonymous   |     |   Comment #3
The max of 7500K makes it a total waste of time for those seeking to park larger sums.
Anonymous   |     |   Comment #4
But it's a nice opportunity for those who might not have those larger sums to work with.
Anonymous   |     |   Comment #5
You are correct. It's not worth doing the direct deposit for 15 months.
Cat Chance
Cat Chance   |     |   Comment #6
Well, I went ahead and did this. I opened up an Active Duty Checking acct and I'm gonna have my CRSC DFAS pay go there for the $50 bonus. And then also opened up a $7500 CD for the 3.5% APY along with that. NavyFed pretty good with the bonuses. So far $50 for opening the original share acct, $100 for a Roth IRA, $250 for one visa card, $200 for another, $10 for linking a visa with visapay, and  now $50 for the active duty checking. What's next? haha
vjrampello   |     |   Comment #7
Navy Federal also has a separate 12 month special EasyStart certificate (not sure when it will end, but I suspect it will expire on May 31):

Special EasyStartSM Certificate

Start building your long-term savings quickly and easily with a 3.00% APY
Special EasyStart Certificate.2

    $50 minimum
    12-month term
    $3,000 maximum balance

Requires Checking and Direct Deposit/Allotment.