Money Market Certificates
 

Key Features

Why settle for average returns when you can have stability, security and fantastic returns on your savings with a PenFed Money Market Certificate.
 

TermDividend RateAPY
6 Month0.300%0.30%**
1-Year0.800%0.80%
2-Year0.900%0.90%
3-Year1.000%1.00%
4-Year1.250%1.26%
5-Year1.500%1.51%
7-Year1.500%1.51%

 

 *Please see 'Details and Disclosures' below for important account information. 

Benefits

  • Dividends are compounded daily and paid monthly for maximum returns
  • Automatic renewal available
  • Dividend and maturity options available
  • High yield returns
  • Government backed insurance
  • Savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government:  
 

Keep in Mind: Minimum opening deposit is $1,000.

Not yet a PenFed member? Join now to apply.

Details and Disclosures

Annual Percentage Yield (APY) is accurate as of April 01, 2014 - April 30, 2014 and is subject to change at any time.
 

We will establish your certificate on the day we receive your application and funding. Once purchased, the rate is locked in for the term of your certificate.

**6 Month certificates earn dividends on simple interest basis. All other certificate dividends are compounded daily.

You choose how your dividends are paid: monthly OR at maturity.

3 payment options:

  1. Add dividends to certificate.
  2. Transfer dividends to Regular Share, checking, or MMSA (Money Market Savings Account).
  3. Have dividend sent to you in check form.


Early Redemption Penalties

Penalties are imposed for early withdrawal of money market share certificates. This will reduce earnings on the account. You must provide your request in writing.

6-month Money Market Certificates

If redeemed within 90 days of the issue date or any renewal date, all dividends will be forfeited.

If redeemed thereafter, but before the maturity date, dividends for the most recent 90 days will be forfeited.

Certificates having a term greater than 6 months up to and including 4 years

If redeemed within 180 days of the issue date or any renewal date, all dividends will be forfeited

If redeemed thereafter, but before the maturity date, dividends for the most recent 180 days will be forfeited.

Certificates with a term of 5 years or greater;

(applies only to certificates issued or rolled over on 3/15/11 or later)

If redeemed within 365 days of the issue date or any renewal date, all dividends will be forfeited.

If redeemed thereafter, but before the maturity date, dividends for the most recent 365 days will be forfeited.