Are PenFed CDs worth it?

PenFed CDs may be a good option if you want a CD that pays a high interest rate. Other banks and credit unions pay even higher rates right now, but PenFed CDs might be worth it if you have other accounts at PenFed and want to do all of your banking with the same company.

What are PenFed CD rates?

In this article, we at the MarketWatch Guides team will detail PenFed CD rates and compare them to the competition. You can get a 4.00% annual percentage yield (APY) with PenFed’s one-year money market certificate account. PenFed’s rates are higher than several brick-and-mortar competitors’ rates but lower than some online banks’ offerings.

Does Pentagon Federal Credit Union offer a money market certificate?

Pentagon Federal Credit Union, better known as PenFed, offers “Money Market Certificate” terms ranging from six months to seven years. These share certificates are the credit union equivalent of the certificates of deposit (CDs) found at banks.