Competitive CD Rate Offers From USAA

If you want to put your money where it can grow and earn a good return, considering opening a certificate of deposit is your best choice. At USAA, you will find competitive rates to help you achieve your goals.

What They Offer

There are three types of certificates of deposits available – the variable rate CD, adjustable rate CD, and the fixed rate CD. These differ in what they offer in terms of flexibility and interest rates.

The variable rate CD is perfect for those who are looking for higher than the average rates in the current market, with the added benefit of making additional deposits during the term. Adjustable rate CDs suit those who want to increase the APY rate sometime during the term applied for should the rates rise. This way, the consumer will get the chance of having equally competitive rates with the adjustment option of up to 2%. On the other hand, the fixed-rate CD offer is a straightforward and guaranteed way of expanding the growth of your investment. However, you will not be allowed to make any additional deposits once the term begins to mature.

The APY for each type of CD term is listed as follows:

FIXED RATE APY

Term Standard ($1,000-$94,999)

30 days – N/A
91 days – 0.35%
120 days – N/A
150 days – N/A
182 days – 0.61%
7 months – 0.66%
270 days – 0.76%
1 year – 0.86%
15 months – 0.90%
18 months – 0.95%
2 years – 1.10%
30 months – 1.20%
3 years – 1.31%
4 months – 1.50%
5 years – 1.66%
7 years – 1.90%

JUMBO
$95,000-$174,000

30 days – 0.34%
91 days – 0.40%
120 days – 0.50%
150 days – 0.55%
182 days – 0.71%
7 months – 0.76%
270 days – 0.86%
1 year – 0.95%
15 months – 0.95%
18 months – 1.00%
2 years – 1.15%
30 months – 1.25%
3 years – 1.36%
4 months – 1.55%
5 years – 1.71%
7 years – 1.95%

Daily changes to interest rates are applicable for the variable rate CD terms, while the latter two’s interest rates will remain locked in for the entire period. Another difference among these three terms is how deposits are added. At any time during the term, variable CDs allow $25 deposits every now and then. Adjustable rate CDs do not allow deposits, but the rates can be adjusted. As for fixed rate CD terms, additional deposits are not allowed.

About USAA

USAA had its humble beginnings when it was started by 25 Army soldiers in 1922. Its organization started out as providing insurance to one another. Currently, USAA provide a wide range of other financial services to millions of people in the country.


American Express Offers A Decent 36 Month CD

American Express is not only a credit card company, but also a leader in investments, high yield savings accounts and certificate of deposits. While most major banks and financial institutions keep their rates so low, its almost as if they don’t want your business, American Express keeps their rates competitive. For instance, Bank of America offers the same 3 year CD at a rate of 0.75% APY, now how is that worth buying into? I found it hard to believe that this major Credit Card company offered decent rates on CDs.

Right now you can get their 36 Month CD at 1.85% APY and while that isn’t the best rate available, they offer a sense of security. American Express is rated one of the most stable financial institutions and Bankrate gives them a 5 of 5 star soundness rating.

There are no minimum deposits or account fees when you sign up for any of American Express’s CD products.

Currently American Express is number 11 for having the highest 3 year CD. Here is a short list of the best 36 month certificate of deposits available:

While you can get better rates from one of these other banks or credit unions, American Express will keep you feeling like your money is secure.

Be sure to check out our CD rates board for the best certificate of deposit in your area.


The Best 3 Year CDs Still Push Pass 2%

I think Melrose Credit Union just wants to lead in most of the CD rates as they just upped their 36 month CD rate to 2.27%, with a minimum deposit of $5,000.

Danversbank from Boston was holding the top spot at 2.50% APY, but recently dropped their rate to 2.00% APY causing them to lose the highest CD rate on the market.

Melrose Credit Union is out of New York and is open to all residents throughout the United State. They have a $1 joining fee which makes all of their certificates of deposit worth looking at. Since they hold the top spot for the 12 month, 36 month and 60 month CD rates, its worth a look at. Melrose is also close to leading in the 24 month CDs category also.

To put these interest rates into perspective here is a list of the next top 3-year certificates of deposit:

  • 2.19% APY from Heritage Bank located in Phoenix and Tempe, Arizona. A minimum deposit of $5,000 is required.
  • 2.15% APY from Sallie Mae Bank, has no minimum deposit and is owned by the big student loan lender.
  • 2.08% APY from Bank of Internet, requires a minimum deposit of $1,000.
  • 2.05% APY from USAA out of Texas, requires a minimum deposit of $1,000.

All of these financial institutions take applications online and have no restrictions on who can apply.

Be sure to check out our best nationally available CD rates. CD rates can change at any moment, so be sure to verify the current rates being offered.