Why are Navy Federal Credit Union CD interest rates higher than USAA?? I just purchased a 7 year CD at 1.06% with USAA and Navy Federal offers 2.15%. WHAT IS GOING ON!!???
Perfect example of why it is best to always shop around - rate can vary. Ratebrain is a good site to compare rates that are being currently offered.
A number of factors are used to determine CD rates, in many cases a bank or credit union may be trying to entice more new customers or they are trying to increase capital that they can then use for loans they can issue at higher rates.
DSTEXAS is correct, CD rates will vary from time to time. If you have any additional questions, I encourage you to call into our bank and speak with a member services specialist who will be able to assist you in answering any additional questions you may have. 1-800-531-8722
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