CD accounts with high APYs rose to the top of the list. The following is the weighting assigned to each category:īased on these categories, we ranked CD accounts from best to worst. For the star ratings, we analyzed each certificate on 10 data points within the categories of APY, minimum deposit requirements, compound interest schedule, customer service, digital experience, available terms and overall availability. This included a mix of traditional brick-and-mortar banks, online banks and credit unions. To find the best CD rates in New York, Forbes Advisor looked at 356 CD accounts at 134 financial institutions that serve residents of New York. Read our full Navy Federal Credit Union Review. To be eligible, you must be a member of the armed forces, a veteran, a family member of a current or retired service member or a Department of Defense employee.

You must become a Navy Federal Credit Union member to open an account. The Navy Federal Credit Union Standard Certificate have no maximum deposit cap, and the 12, 18 and 24-month certificates earn competitive rates from 0.45% to 5.00%APY with a minimum deposit of $1,000 There’s also the Navy Federal Credit Union Special EasyStart Certificate that earns 5.30% APY, although it has a maximum deposit cap of $3,000 and requires a checking account with direct deposit. You can even set up recurring automatic deposits. While most CDs only allow a single deposit, you can add money to your EasyStart Certificate at any time. With a low minimum opening deposit of $50, these certificates are perfect for building your savings from scratch. Navy Federal Credit Union’s EasyStart Certificates offer a competitive APY-up to 4.45%-for terms ranging from six to 24 months.

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