Special EasyStart Certificate- NFCU

[DeadlyPersona]

In honor of Military Appreciation Month, Navy Federal Credit Union is offering the following: Open a new Special EasyStart Certificate with a qualifying direct deposit and checking account. Start with as little as $50 and watch your savings grow at the market-leading rate of 3.50% APY. Plus, you'll get a $25 bonus. Term 12 months. $3,000 maximum. Add money at any time. Compound daily. Interest at the end of the month. 

Does anyone have any advice on whether this is something good to invest in? I was thinking that instead of having my money sitting in a savings account this would be a better option.

[CreditInspired]

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@DeadlyPersona wrote:

In owner of Military Appreciation Month, Navy Federal Credit Union is offering the following: Open a new Special EasyStart Certificate with a qualifying direct deposit and checking account. Start with as little as $50 and watch your savings grow at the market-leading rate of 3.50% APY. Plus, you'll get a $25 bonus. Term 12 months. $3,000 maximum. Add money at any time. Compound daily. Interest at the end of the month. 

Does anyone have any advice on whether this is something good to invest in? I was thinking that instead of having my money sitting in a savings account this would be a better option.

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Yes, it is good!!!! 

[Appleman]

I would say it depends. The rate is great but if you have a credit card balance that has an interest rate that is higher that may be a better investment.

Having a savings account is a good idea for those rainy days or pandemics.

[DeadlyPersona]

Will you please elaborate more on what you mean? I have not been swiping my credit cards often enough due to this pandemic to carry balances. Plus if I do invest in this certificate the max is $3,000. I would still have money left in my savings.

[DeadlyPersona]

Thanks for the reply and I should have said "I'm honor of Military Appreciation Month"..... anyway, would you mind telling me why it's a good idea. Do you have or have you ever had any certificates with NFCU? I see in your profile your a customer.

[Anonymous]

I have one and it's currently better than any HYSA that i have, highest one being 1.30%.

The only thing with this is that you have to open a qualifing checking account or have DD, which when I first opened mine I didn't. I somehow skipped over reading that part and got a letter a couple month later stating a decrease in APR would happen unless i complied with the stipulations, which was still high at 2.44%. I didn't open an account witth the them until a year later though, and i don't even know if that account qualifies. lol

You aren't going to find too many CD/Savings acounts with such a high APR, especially now days.

What Appleman means is that if you're paying high interest on a CC balance, then it would negate any interest earned from opening this account. So paying off the CC would be a better choice. 

I definitely think it's a good idea to open one if you are abale to lock $3K away for 12 months, it's certainly worth an extra $25 in addition to the interest earned!

What kind of savings is your Money in right now, a standard Bank account earning the satandard .001%?

[M_Smart007]

I opened a NFCU $100 Roth IRA certificate @ 3.5% APR for 12 months, They gave a bonus of $50 for doing so.

Currently added Service CU $500 at

Also going to add to Service CU's Holiday Savings club account

"And it’s not just December: You can use a Holiday Club account to save for any special event—earning 3.00% APY* up to $3,000 then .25% APY* for minimum average daily balances of $3,000.01. If you don’t happen to be near the North Pole or one of our branches, you can contribute online or by mail, or set up payroll deductions."

Thanks to @Gmood1 for this one

[howellco2]

where do i find this i dont see it on the navy site

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@DeadlyPersona wrote:

In honor of Military Appreciation Month, Navy Federal Credit Union is offering the following: Open a new Special EasyStart Certificate with a qualifying direct deposit and checking account. Start with as little as $50 and watch your savings grow at the market-leading rate of 3.50% APY. Plus, you'll get a $25 bonus. Term 12 months. $3,000 maximum. Add money at any time. Compound daily. Interest at the end of the month. 

Does anyone have any advice on whether this is something good to invest in? I was thinking that instead of having my money sitting in a savings account this would be a better option.

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[CreditInspired]

Yes, I had the Easy Certificate 3 years ago. It was great to be able to open with a small amount to get my foot in the door. And I liked the option of adding to it anytime I wanted. And one cant beat the 3+% earnings on $3K max. I have a savings now with DCU at 6.17% but the max is only $1K. 

[CreditInspired]

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@howellco2 wrote:

where do i find this i dont see it on the navy site

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@DeadlyPersona wrote:

In honor of Military Appreciation Month, Navy Federal Credit Union is offering the following: Open a new Special EasyStart Certificate with a qualifying direct deposit and checking account. Start with as little as $50 and watch your savings grow at the market-leading rate of 3.50% APY. Plus, you'll get a $25 bonus. Term 12 months. $3,000 maximum. Add money at any time. Compound daily. Interest at the end of the month. 

Does anyone have any advice on whether this is something good to invest in? I was thinking that instead of having my money sitting in a savings account this would be a better option.

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On the mobile app, it is scrolling at the bottom of the page.