Navy Federal Special Easy Start Certificate

[29palms]

Man, have you checked out the going CD, MMS, and checking and savings rates lately? I see like half a percentage point. I got a letter from Navy Federal telling me my certificate was maturing in a couple of days, so decided to pull out of the certificate until I get more favorable rates or specials. And so far, I see they have a special at 3.00 APY for 12 months 50 dollar minimum, and I think its 3,000 max. It's called SPECIAL EASY START CERTIFICATE. I think I'll hold off for a while, and check others such as PENFED to see how they compare, but so far, that's the best rate I see at NAVFED. I see also that you must have a direct deposit and a checking acount within 90 days of having this certificate.....so it must be a GOTCHA IN kind of thing. That's a bit crazy, considering their eligibility requirements are kinda tough if you never had a military connection or contractor working on base.


APY=Annual Percentage Yield. Penalty for early withdrawal. Limit one Special EasyStart Certificate per member. This offer, including the stated APY, is effective March 25, 2013. $3,000 maximum balance. Certificate owner(s) age 18 and older must have Direct Deposit of Net Pay (minimum $300 per Direct Deposit) and a Navy Federal checking account 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 divided 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.

Special EasyStartSM Certificate (Share/IRA/ESA)1

$50min deposit for

12 mos.

at 2.96%

3.00%APY

[29palms]

Yup, just what I thought. PENFED and USAA, nothing comes close this this rate at NAVFED but there is a catch. Gotta have direct deposit and checking account within at least 90 days for the checking account. (Not an issue for me.)