With interest rate dropping across all boards, you might be interested getting a 6% APY CD at PenFed. In order to get the 6% APY, you will need to sign up for at least 3 years. This rate is a promo rate so you might want to sign up ASAP. In order to sign up, you must be a member of PenFed via military, employer or family to become eligible by joining the National Military Family Association (NMFA). More info at this How to Join page. Anyone can join NMFA and Penfed through online. It will cost you $20 to join. Once you get PenFed membership, there is no need to maintain NMFA membership in order to qualify at PenFed.
Here’s a quick summary with PenFed CD:
- Hard inquiry on your credit report
- Minimum is $1000 deposit
- Available in CD, IRA, or Coverdell Education Savings Certificate
- You can purchase CD online, mail, or by phone
- Interest is compounded daily and updated monthly
- You can sign up for non-renewal or auto-renewal for maturity of the CDs.
Check out Chase BP Visa Rewards Card
