Navy Federal Credit Union Offering 3% APY 12-Month CD

Navy Federal Credit Union is offering a 1 year CD with a rate of 3% APY. It's called their EasyStart Certificate and that rate is head and shoulders above most of the other best cd rates, which depending on state are in the 1.3-1.8% APY range.

The catch? The maximum deposit amount is only $3,000. We found several other credit unions in the past that have offered exceptionally high cd rates coupled with low maximum balances.

Still, if you are planning to put money into Navy Federal, it makes sense to max out the EasyStart CD and then take it from there. Some other key things to know about the CD:

• $3,000 maximum balance.
• Only one Special EasyStart Certificate per member is allowed.
• Certificate owner(s) age 18 and older must have Direct Deposit of Net Pay (minimum $300 per direct deposit), a Navy Federal checking account, and a monthly automatic transfer of at least $15 into your Special EasyStart Certificate within 90 days of the certificate issue date. If these requirements are not met, your Special EasyStart Certificate dividend rate will be reduced to the prevailing dividend rate of a standard EasyStart Certificate for the remainder of the certificate's term.
• At maturity, the Special EasyStart Certificate will automatically renew to a $100 minimum, standard EasyStart Certificate at the prevailing dividend rate unless member specifies otherwise.

Last week, Navy Federal Credit Union made a goodwill gesture to honor active duty members' paychecks in the event of a government shutdown (which didn't happen).

Like most credit unions, you must meet eligibility requirements in order to join and open products. As you can imagine, almost anyone associated with the military and armed forces and their close relatives are eligible. For specific details, visit their eligibility page.

View a comprehensive list of credit union cd rates by clicking on the CD tab above.