Third Federal CD Rates

Financial advisor meeting with couple about CD rates

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First opened in 1938, today Third Federal Savings & Loan operates in 25 states and Washington D.C. Along with traditional banking products such as home loans, bank accounts, and retirement accounts, Third Federal also offers certificates of deposit (CDs).?

CDs can be a low-risk way to save money while accruing interest, especially when interest rates are high or rising. Let’s take a look at Third Federal CD rates, the key features of this product, and how it compares against other savings options.

The APYs listed below are up to date as of the date of publication of this article. We review CD rates every two weeks and update the information below accordingly.

Third Federal Special CD Account Overview

CD Term APY Minimum Deposit
3 months 3.50% $500
19 months 3.70% $500
29 months 3.80% $500
39 months 4.00% $500
49 months 4.00% $500
59 months 4.00% $500

Third Federal Standard CD Account Overview

CD Term APY Minimum Deposit
3 months 3.50% $500
6 months 0.50% $500
12 months 1.50% $500
18 months 1.50% $500
24 months 1.50% $500
30 months 1.50% $500
36 months 1.50% $500
48 months 1.50% $500
60 months 1.50% $500
72 months 1.50% $500

Third Federal Retirement CD Account Overview

CD Term APY Minimum Deposit
12 months 1.50% $100
18 months 1.50% $100
19 months 3.70% $100
24 months 1.50% $100
29 months 3.80% $100
30 months 1.50% $100
36 months 1.50% $100
39 months 4.00% $100
49 months 4.00% $100
59 months 4.00% $100
72 months 1.50% $100

Third Federal Bonus CD Account Overview

CD Term APY Minimum Deposit
36 months Year 1: 5.50%? Years 2–3: 3.50% $500
60 months Year 1: 5.50% Years 2–5: 3.50% $500

Third Federal Savings & Loan CDs: Key Features

Third Federal CD Account: Key Features

APY Range 0.50%–5.50%
Minimum Deposit $100–$500
Term Range 3–72 months
Early Withdrawal Penalty 91 days or less: 1 month’s interest 92 days through 1 year: 3 months’ interest More than 1 year, but less than 3 years: 6 months’ interest At least 3 years, but less than 4 years: 12 months’ interest 4 years or more: 18 months’ interest

Third Federal has a robust CD offering, with four different choices available for savers. Of particular interest is the retirement CD, with a minimum deposit of just $100 and a return of up to 4.00%. This is higher than the national average for CDs of any term, and the low minimum makes saving money much more accessible.

Also interesting is the bonus CD option, which offers a variable APR based on the year in which you’re earning interest. Taking advantage of the bonus CD allows you to earn higher rates overall. For example, the 36-month option, which earns 5.50% for the first year and 3.50% during the remaining two years, averages a return of 4.17%.?

Be sure to withdraw the funds during the seven-day grace period when your CD matures, or it’ll automatically roll over into a new CD.?

About Third Federal Savings & Loan

Third Federal Bank operates in 25 states and the District of Columbia. Despite its smaller size, however, it maintains a strong presence and has more than $14 billion in assets.?

The rates on nearly all its CD products either meet or beat the national average, which is 1.76% for one-year CDs. Third Federal offers its banking services, including CDs, nationwide online and over the phone.

Compare CD Rates

Is Third Federal Savings & Loan FDIC Insured?

Yes, Third Federal is FDIC insured. This means that any accounts you have with the bank, including certificates of deposit (CDs), will be federally insured up to $250,000.

Can You Have Multiple CD Accounts at Third Federal?

Yes, you can have multiple CD accounts at Third Federal. Generally speaking, there is no limit to the number of CDs you can open at a bank. In fact, CD laddering, in which you open CDs of varying terms, is a savings technique designed to earn higher interest while keeping your money secure and relatively liquid.

What Is the Minimum Deposit for a CD Account at Third Federal?

The minimum required deposit for your CD varies based on which product you open. Retirement CDs require as little as $100, while other CDs have a minimum $500 deposit.

Is There an Early Withdrawal Penalty for CD Accounts at Third Federal?

Yes, there is an early withdrawal penalty for any CDs that you open at Third Federal Bank. The amount that you’ll be charged varies depending on the length of the CD, so you’ll want to factor that cost into your withdrawal.?

Article Sources
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  2. Third Federal. "Certificates of Deposit."

  3. Third Federal. "Disclosures."

  4. Third Federal Savings & Loan. "A Great Rate. Easy as That."

  5. Third Federal Savings & Loan. "History & Values."

  6. FDIC. "National Rates and Caps."