These products function like typical certificates of deposit (CDs), requiring you to keep your money in the account for the entirety of the term. Navy Federal also offers a variety of term savings accounts, also known as certificates. That said, these rates are still below what you’d get from the best money market accounts at online banks. Once your balance exceeds $100,000, switching to a Jumbo Money Market Savings account will increase your interest rates even more. Savings interest rates on this account vary by balance and are notably higher than the measly rate offered by the credit union’s basic account. Like the Basic Savings account, there is no monthly fee. This account begins earning interest on balances of $2,500 and above. Navy Federal also offers Money Market Savings Accounts designed to pay higher interest on larger balances. While the ease of using the default saving account may be appealing, the interest earned on this account is below the national average of 0.46% as of November 20, 2023. Members can open multiple Basic Savings Accounts to save for different goals. The account has no monthly maintenance fee and accrues interest on balances over $5. Navy Federal automatically provides a Basic Savings Account to each member. This no-frills account is designed for emergency savings. You’ll have to open a Membership Share Account with a $5 minimum balance to establish membership. Membership at NFCU is open to active and retired military members, their families and Department of Defense civilians. Navy Federal Credit Union Special EasyStart CertificateĪs with most credit unions, you must meet the eligibility requirements for membership to open a Navy Federal savings account.

Navy Federal Credit Union EasyStart℠ Certificate Navy Federal Credit Union SaveFirst Account

Navy federal cd interest rates today