[Expired] Navy Federal Credit Union Offer 5% CD On Balances Up To $5,000

[Expired: This deal has now expired, although NFCU often offers these types of rates. Make sure you check out our more recent bank bonuses by clicking here]

The Offer

Direct link to offer

• Navy Federal Credit Union is currently offering a 5% APR on a twelve month CD on balances between $25 and $5,000 as well as two other deals (see our verdict for more information on these)

The Fine Print

• Eligibility to NFCU is for military members, associated persons and their family. See more here.
• NCUA insured
• $25 minimum and $5,000 maximum for the CD
• CD will automatically enroll into a $100 EasyStart Certificate unless instructed otherwise
• Valid until the end of September

Our Verdict

Usually I don’t post about bank accounts with high interest rates, but this seems like a particularly good deal. If you deposit the full $5,000 you’d earn a total of $250 minus taxes, which makes it one of the higher bank account bonuses currently available. The downside is that you’ll most likely be hit with a ChexSystem inquiry and you have to lock up $5,000 for a year, given that other savings accounts offer around 1% APR this bonus is actually more like $200.

They also have an increased sign up bonus on their GOREWARDS credit card where you get 15,000 points after $1,500 in spending within the first 90 days. This is on the lower side for cash sign up bonuses for credit cards, but could still be a decent deal for those who’ve already hit the higher bonuses.

They are also offering a $300 cash bonus when you refinance your auto loan with them, their auto loans start at 1.49% so this could be a good bet for those who get a low APR but it will really depend on the rate your offered when you refinance.

Unfortunately I don’t meet the eligible requirements for NFCU, otherwise I would jump on the CD deal. If you do meet the eligiblity requirements and complete the deal, let us know if you’re hit with a ChexSystems inquiry and whether they allow credit card funding or not.

Hat tip to redsox9547 from FWF