You may have heard that May is Military Appreciation Month, and lots of organizations are celebrating in different ways. Navy Federal Credit Union (NFCU) has several special offers, and you’ve only got until Friday to take advantage of them.
Cash Back on Auto Refinancing
Do you have a car financed with another lender? Refinance your car with NFCU and you’ll get great rates, plus a $250 bonus! While rates will vary depending on your individual situation, current rates are as low as 2.99% for a new vehicle and 4.99% for a used vehicle.
If you keep the same term (length of the loan), you can have a lower payment if you get a lower interest rate. Better yet, keep the payment the same and shorten the length of the loan!
New Active Duty Checking Account Bonus
If you are eligible, and you don’t already have an Active Duty Checking account, this is a great time to open one. You’ll get a $25 bonus, plus all the great perks of an Active Duty Checking account, including early direct deposit of military pay, free checks, and ATM rebates.
Special 2.75% Certificate of Deposit
NFCU almost always offers a promotional Easy Start Certificate of Deposit (CD) with much higher than usual interest rates (currently 3.5%,) but they have a low maximum deposit ($3,000 right now.) This Military Appreciation Month CD offers 2.75% interest on up to $100,000 in deposits.
I find CDs a great place to stash my emergency funds. Because emergency funds are for truly surprise expenses, it’s unlikely that I’ll actually need them, so that money can grow faster than if it were in a regular savings account. But if I do have a genuine emergency, I’ll gladly pay the small penalty (generally a few months interest) in order to access those funds.
There are other Military Appreciation Month specials at NFCU, but these are the offers that provide the best value for members. Don’t procrastinate if you are interested in any of them – they end on Friday!
Do you want to know more about your military pay and benefits?
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