USAA Federal Savings Bank is an option for members of the military and their families. It’s a full-service bank providing a variety of products, including certificates of deposit (CDs). USAA offers a variety of term lengths and interest rates for CDs, depending on how much you deposit.
Let’s take a look at USAA Bank CD rates, key features, and how they compare against other options.
The APYs listed below are up to date as of the date of publication of this article. We review CD rates every two weeks and update the information below accordingly.
USAA Fixed Rate CD Overview
In addition to the CDs noted below, USAA also offers adjustable and variable rate CDs in several terms, with APYs of 0.01%. The variable rate CD requires a minimum deposit of $250.
|Term||Standard CD (Minimum Deposit: $1,000)||Jumbo CD (Minimum Deposit: $95,000)||Super Jumbo CD (Minimum Deposit: $175,000)|
|30 days/1 month||N/A||0.05%||0.05%|
|120 days/4 months||N/A||0.05%||0.05%|
|150 days/5 months||N/A||0.05%||0.05%|
|270 days/9 months||4.50%||4.50%||4.50%|
See the best CD rates today:
USAA CDs: Key Features
|APY Range||0.01% to 5.00%|
|Types of CDs Available||Fixed rate, adjustable rate, variable rate|
|Minimum Balance Range||$250 to $175,000|
|Term Range||1 month to 7 years|
|Compounding Schedule||Interest accrues daily, compounded monthly|
|Early Withdrawal Penalty||Between 30 and 365 days of interest accrued|
|Grace Period for Withdrawals After Maturity Date||10 calendar days|
USAA Bank was founded in 1922 by several Army officers who wanted a way to insure their cars (USAA is short for “United Services Automobile Association”). In the years since, the bank has grown into one of the largest financial services firms in the country. USAA’s banking, insurance, and other products are only available to people who serve, or have served, in the military and their families.
USAA has just five physical locations but is nationally available online. The easiest way to bank with USAA is online through its website or mobile app.
Compare USAA Bank’s CD Rates
Rates, terms, and minimum requirements for certificates of deposit vary quite a lot between banks. USAA’s CD rates are generally competitive with the largest national banks, but fall short of the highest rates available. If you’re looking for the best CD rates, your best bet is to shop at smaller banks and credit unions (or see one of our CD Rates pages linked above, which are updated daily). But if you’re a USAA member, and want to keep all your banking at one institution, you have some options.
If you’re planning to lock away your funds in a CD for an extended period of time, be sure to look at how those APYs stack up versus the term length of the CD.
|Bank||APY Range||Minimum Balance||Term Range|
|USAA||0.01% to 5.00%||$250||30 days to 7 years|
|Chase Bank||0.02% to 4.25%||$0||1 month to 10 years|
|Bank of America||0.03% to 4.50%||$1,000||28 days to 10 years|
|American Express||1.00% to 4.75%||$0||1 year to 5 years|
How Do You Open a USAA CD Account?
Opening a CD account is simple and can be accomplished online. You’ll need to be a member and log in to your account. From there, you can add a product, during which USAA will walk you through the process.
This includes providing your personal information, selecting the term length of your CD, and choosing whether to redeposit any interest earned. You’ll then need to review and sign the agreement documents, after which the account will be opened.
Are USAA CDs FDIC Insured?
USAA Federal Savings Bank is a federally insured institution. This means that its products, including any certificates of deposit (CDs) are FDIC insured up to the federal limit ($250,000 for all accounts at the same institution).
What Should I Consider Before Opening a USAA CD Account?
Before opening an account, consider USAA Federal Savings Bank’s CD rates, as well as the term lengths that the bank offers and the minimum deposits required. Compare USAA’s CDs against other major banks to find one that suits your needs.
Can You Have More Than One USAA CD Account?
Yes, it’s possible to have more than one USAA CD account. There is a popular method of saving called a CD ladder, which involves purchasing several CDs of different maturity. As “younger” CDs mature and are rolled over into new CDs, others continue earning interest.