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PenFed CD Rates: Pros, Cons, and Current Rates


Published on 2025-04-14 17:20:39 - Insider
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  • Explore PenFed CD rates. PenFed is a credit union that permits anyone in the United States to open CDs. Explore CD options and opening requirements.

The article on MSN discusses the features, pros, and cons of PenFed Credit Union's Certificates of Deposit (CDs), along with their current rates as of the publication date. PenFed offers a variety of CD terms ranging from 6 months to 7 years, with competitive rates that are higher than the national average for similar terms. Key advantages include a low minimum deposit requirement of $1,000, the option for a money market certificate, and the ability to withdraw dividends earned without penalty. However, potential drawbacks include limited branch access since PenFed primarily operates online, early withdrawal penalties that can be steep, and membership requirements that necessitate joining the credit union. The article also provides a table of current rates for different CD terms, highlighting that longer terms generally offer higher annual percentage yields (APYs).

Read the Full Insider Article at:
[ https://www.msn.com/en-us/money/personalfinance/penfed-cd-rates-pros-cons-and-current-rates/ar-BB1quRFG ]