Pentagon Federal Credit Union has several long term CD specials with competitive rates. PenFed Credit Union’s highest CD rate is currently the 7 year 5.00% APY Certificate of Deposit with $1,000 minimum. There’s also a 4.50% APY 3 year CD with the same requirements. Both are also available as an IRA and a money market account.
Once you are locked in for the term of the CD, only the 3.50% APY 6-Month CD earns dividends on a simple interest basis. All the other CD terms will have daily compounding interest and you have the option of choosing whether being paid monthly or at maturity. Upon maturity, your certificate will automatically renew unless you request a change of option either by phone or via online banking.
Application is online, you will first need to create an account with PedFed Credit Union, and then you can transfer funds via free ACH online transfer.
Pentagon Federal Credit Union is federally insured by the National Credit Union Administration (NCUA) up to to $100,000 USD. This credit union has more than 764,000 members and $11.2 billion in assets.
*Please note that penalty may be imposed for early withdrawal and service fees may apply.
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