Navy Federal Credit Union Review 2021

Since 1933, Navy Federal Credit Union has grown from 7 members to over 10 million members. And, since that time, their vision statement has remained focused on serving our unique field of membership: 

“Be the most preferred and trusted financial institution serving the military and their families.”

In this review, we will compare Navy Federal Credit Unions’ money market, savings account, and CD rates to the other leading financial institutions in America.

Table of Contents

Standard Certificates

Navy Federal Credit Union Certificates allow you to plan out your savings by providing guaranteed returns that you can access on a set maturity date.

APY as high as 0.95%

Minimum Deposit as low as $1,000

Term 3 Months to 7 Years

Features:

  • Variety of terms and minimum balance options
  • No maximum purchase amount
  • Longer maturities earn higher dividends

Best For:

  • Individuals who want to earn at a higher dividend rate
  • Individuals who don’t need flexible access to savings
  • Individuals who are interested in making a single deposit

Navy Federal CD Rates

CD Term$1k Minimum$100k Minimum
3 Month0.40%0.45%
6 Month0.45%0.50%
12 Month0.55%0.60%
18 Month0.55%0.60%
24 Month0.55%0.60%
3 Year0.70%0.75%
5 Year0.90%0.95%
7 Year0.90%0.95%

The APY is an annualized rate that reflects estimated dividend earnings based on the dividend rate and frequency of compounding. 
Penalties apply for early withdrawals from certificate accounts. Offering rates may change. Dividends compounded daily, credited monthly. 1 

This APY is accurate as of 10/11/2021. This APY is an annualized rate that reflects estimated earnings based on the dividend rate and frequency of compounding. Dividends compounded daily, credited monthly. Penalties may apply for early withdrawals from certificate accounts. Offering rates may change.

Money Market Rates

Minimum DepositAPY
$0 to $2,4990.00%
$2,500 to $9,9990.40%
$10,000 to $24,9990.45%
$25,000 to $49,9990.45%
$50,000 and over0.45%
$100,000 to $249,9990.50%
$250,000 and over0.50%

Rates apply to the entire balance, not just the amount over the tier threshold.
Monthly compounded, monthly credited.

Today's Best CD Rates

Fixed annuities work very much like a certificate of deposit (CD). A fixed annuity, or multi-year guaranteed annuity (MYGA), pays a set guaranteed interest rate for the entire initial guarantee period- just like a CD.

Best 3 Month CD Rates
Bethpage Federal Credit Union
0.40% APY
$50 Minimum
Navy Federal Credit Union
0.40% APY
$1000 Minimum
TIAA Bank
0.35% APY
$1000 Minimum
Best 6 Month CD Rates
Quontic Bank
0.55% APY
$500 Minimum
First Internet Bank
0.45% APY
$1000 Minimum
Limelight Bank
0.45% APY
$1000 Minimum
Best 9 Month CD Rates
Navy Federal Credit Union
0.50% APY
$1000 Minimum
TIAA Bank
0.45% APY
$1000 Minimum
TAB Bank
0.40% APY
$1000 Minimum
Best 1 Year CD Rates
Comenity Direct
0.70% APY
$1500 Minimum
Quontic Bank
0.60% APY
$500 Minimum
Live Oak Bank
0.60% APY
$1000 Minimum
Best 2 Year CD Rates
Quontic Bank
0.75% APY
$500 Minimum
Comenity Direct
0.75% APY
$1500 Minimum
First Internet Bank of Indiana
0.70% APY
$1000 Minimum
Best 3 Year CD Rates
Quontic Bank
1.00% APY
$500 Minimum
Bank5 Connect
0.85% APY
$500 Minimum
Pentagon Federal Credit Union
0.85% APY
$1000 Minimum
Best 4 Year CD Rates
VyStar Credit Union
0.90% APY
$500 Minimum
Suncoast Credit Union
0.85% APY
$500 Minimum
First Internet Bank of Indiana
0.85% APY
$1000 Minimum
Best 5 Year CD Rates
First Technology Federal Credit Union
1.15% APY
$500 Minimum
Quontic Bank
1.11% APY
$500 Minimum
Pentagon Federal Credit Union
1.10% APY
$1000 Minimum

Today's Best Fixed Annuity Rates

Annuity rates are current as of 10/11/2021.

CD vs. Annuity Comparison Table

Fixed annuities work very much like a certificate of deposit (CD). A fixed annuity, or multi-year guaranteed annuity (MYGA), pays a set guaranteed interest rate for the entire initial guarantee period- just like a CD.

 FIXED ANNUITYCD (CERTIFICATE OF DEPOSIT)
Issued ByInsurance CompaniesBanks
Investment Amount$2,000 - $1,000,000Essentially Any Amount
Investment Term3 years - 10 years3 months - 5 years
Interest Rates (APY)Rates by product but usually higher.Varies by financial institution, term and investment amount.
LiquidityUsually, 10% annually or interest earned.Almost always accumulated interest.
GuaranteesThe claims-paying ability to issue Insurer and by State Guaranty Funds.Backed by the FDIC up to $250,000 per depositor, per institution.
Death BenefitPassed directly to the beneficiary without probate process.Probate process required.

Navy Federal Contact Information

Phone Support

Talk to a real person anytime. Our stateside member reps are available 24/7.
1-888-842-6328
International: 1-703-255-8837 (collect)
Other important phone numbers

BUSINESS SOLUTIONS

1-877-418-1462
Representatives are available Monday through Friday, 9 am to 5 pm, ET.

Find a Navy Federal Credit Union branch near you.

 

FAQ

Most frequent questions and answers

Navy Federal’s Routing Number is: 256074974

While not FDIC insured, State Guaranty Associations provide a safety net for their state’s annuity policyholders. These Guaranty Associations guarantee policyholders continue to receive coverage (up to the limits spelled out by state law) even if their insurer is declared insolvent. Source: “Learn to Invest, Investment Types, Annuities, Fixed Annuities.”  Financial Industry Regulatory Authority (FINRA).  Visit FINRA’s Fixed Annuities Webpage

You can not lose money in a fixed annuity. However, guarantees are backed by the claims-paying ability of the issuing insurance company so it is important to consider an insurer’s financial rating when shopping for an annuity.

Free Annuity Quote

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