USAA Ratings and Reviews

Customer reviews for brand_bank_cds Certificates of Deposits: Bank CD Rates

brand_bank_cds Certificates of Deposits: Bank CD Rates

Overall rating:
3.89 / 5
3.9
 / 
5
(746 reviews) 714
Open Ratings Snapshot
Rating breakdown 746 reviews
5 Stars
376
4 Stars
140
3 Stars
72
2 Stars
88
1 Star
70
558 out of 74675%customers recommend this product.
Customer questions and answers:
94 Questions | 195 Answers
Customer reviews for Certificates of Deposits: Bank CD Rates
Review 1 for Certificates of Deposits: Bank CD Rates
Overall rating 
5.0 / 5
5.0 / 5

Wonderful service

Written on3/29/10
Customer avatar
sevik
fromOregon
I also write about CD renewal services, which I think could be improved. In my case, I bought several CD's last year with varying maturity dates. This particular one was a 1-year CD which I wish to make a 5-year CD. It would be nice to be able to change the term on line rather than having to call.
We have almost all our various banking and insurance services with USAA and have been with USAA for more than 30 years. I love to talk to friends about the many advantages and urge them to join, if eligible.
I recommend this product.
Response from USAABy USAAModerator5/6/10
We heard your feedback about selecting different terms for your existing CD and have made improvements to the CD account page. You’ll notice that when you are on the CD account page, there is a new option on the page that says “Set/Change Renewal options”. This will take you to a page that enables you to select what term you want your CD to renew to at maturity. This new functionality is great for all of you who are laddering your CDs. Give it a try.

+297points
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Review 2 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

What exactly is the benefit of this CD?

Written on4/6/14
Customer avatar
WildBill
fromMandeville, LA
Military Affiliation:Active
Military Branch:Marine Corps
Features 
1.0 / 5
1.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
With the banking/stock industry making record profits, I'd like to know why the interest rates on jumbo accounts remain ridiculously low? I constantly get literature about how successful USAA profit margins are, yet I get "award winning interest rate" offers of 1%. When will the interest rates return to something worth investing in? I could give you five stars with the rates of 7-8 years ago, but these are ridiculous.
No, I do not recommend this product.
+1point
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Review 3 for Certificates of Deposits: Bank CD Rates
Overall rating 
2.0 / 5
2.0 / 5

Great features and service, but......

Written on3/24/14
Customer avatar
TxJeep
fromSan Antonio, TX
Military Affiliation:Separated
Military Branch:Army
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
Like all USAA products, the service and website tools are excellent. I really like USAA and it has been my "go to" financial services company for some 30 years. However, and it's a BIG however, the rates on USAA Certificates of Deposit are not the best. It actually makes me a little sad to give USAA anything less than five stars, but money talks.
No, I do not recommend this product.
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Review 4 for Certificates of Deposits: Bank CD Rates
Overall rating 
3.0 / 5
3.0 / 5

Room for improvement...

Written on3/19/14
Customer avatar
Vaughn8701
Military Affiliation:Active
Military Branch:Army
Features 
3.0 / 5
3.0 / 5
Customer Service 
4.0 / 5
4.0 / 5
The rates aren’t great but when you’re overseas, the ease of access is a huge selling feature. I love the ease of use with the online features for setting up and closing the CD. However, I have two major complaints. 1) I’m laddering my CDs. It would be nice if at maturity I had the option to not only change the terms but to view new rates and add additional funds to the CD before I roll it over. As it is, I have to close the CD and open a new one with the balance I want. and 2) The interest doesn’t compound. I have the interest rolled back into the account balance every month but the interest earned remains the same, sometimes less. That’s discouraging.
No, I do not recommend this product.
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Review 5 for Certificates of Deposits: Bank CD Rates
Overall rating 
3.0 / 5
3.0 / 5

Rates

Written on3/10/14
Customer avatar
ILLINI
fromSan Antonio
Military Affiliation:Retired
Military Branch:Army
Features 
3.0 / 5
3.0 / 5
Customer Service 
3.0 / 5
3.0 / 5
I have been a USAA member for over 50 years; so my support for the organization is obvious. But, it is not blind loyalty that I don't compare products that are available from other companies. It is my money.
I would encourage in this time of almost non-existent return rates on CD's to compare other financial organizations that provide CD's. especially those that have active and retired military as their targeted customers. There are one year rates with one at 1.0%, another at 1.25% for 13 months and one at an eye opening 3.0 for one year out there. In this time of rates below 1.00%, this difference is significant. Again, 50 years with a great company, but I am not a lemming following the crowd over the cliff. Check around, see if there is another rate, conditions, company....ect that is better for you, or if the USAA product is the best fit. At least you did some homework and compared.
No, I do not recommend this product.
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Review 6 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

Too bad their CD rates are in a freefall.

Written on3/8/14
Customer avatar
GlennVa
fromTexas
Military Affiliation:Retired
Military Branch:Air Force
Features 
2.0 / 5
2.0 / 5
Customer Service 
4.0 / 5
4.0 / 5
USAA is good company with good customer service and average insurance rates. When it comes savings/CDs/CCs--things go down fast. Some might say that they don't care what other banks do but I do--and USAA should too! For some, 1.06% might sound like a good rate--but it isn't. 10+% personal loans, 9.9% CCs, 6+% home equity loans haven't changed much. But for USAA to HOLD your $$ for 5 YEARS at 1.06%? Savings accounts are around .10-.20%. Even several years ago interest rates were very low but USAA's were still much better than they are TODAY. Loan rates WEREN'T MUCH HIGHER than today and have stayed consistent, but SAVINGS/CD rates have taken a nosedive. Today, there are CD's close to the 2% mark. But 1.06% is bad. I don't need a financial advisor but maybe my bank does. I moved one CD for 2x better rate than USAA offered me. I have another CD maturing in 3 months. Please don't make it 2/2. I know what I want and there are other alternatives out there. You just need to do some research.
No, I do not recommend this product.
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Review 7 for Certificates of Deposits: Bank CD Rates
Overall rating 
5.0 / 5
5.0 / 5

USAA FOR LIFE!!!!

Written on3/6/14
Customer avatar
R.Marquis
fromAsheville, NC
Military Affiliation:Brat
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I am very pleased with the 2 Year CD that is attached to my credit card account. I have already had to contact USAA for questions, and I find that All team members are friendly and courteous. USAA members never have a problem answering questions. USAA offers wonderful choices in financial decisions. I have changed my checking etc to USAA.
I recommend this product.
-2points
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Review 8 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

Horrible Service

Written on2/24/14
Customer avatar
Amand.NYE
Features 
3.0 / 5
3.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
My child logged on to my accound (I left it up and went for a drink)
Well. Teens being teens - he opened a CD - for 10,000$.
I immediately got on the phone with USAA and the service agent told me I would be able to close it with no penalties - in 7 days for paperwork, etc.
Well - exactly 7 days pass - and I call again to close it. I explain what happened but the agent wants to charge me for closing it, I explained what the service agent said and she asks - AND I QUOTE - 'what is the significance of this money - or the charge to close it? Like, Why does it matter?'
Really USAA? It's the principle. Don't question me about why my money is significant to me? That's rude, uncalled for, and I don't see a need to be judged for a closing a CD.
No, I do not recommend this product.
-1point
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Review 9 for Certificates of Deposits: Bank CD Rates
Overall rating 
5.0 / 5
5.0 / 5

checking

Written on2/16/14
Customer avatar
tcandia
fromerie, pa
Military Affiliation:Separated
Military Branch:Army
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I have had the best of service since I,ve been with
usaa.
I recommend this product.
-1point
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Review 10 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

CD's and Savings are just for show

Written on1/28/14
Customer avatar
UH 60 Chief
fromFort Bliss
Military Affiliation:Active
Military Branch:Army
Features 
3.0 / 5
3.0 / 5
Customer Service 
4.0 / 5
4.0 / 5
USAA is very good at what they do. They offer good services in one area, attracting more and more members, then they offer you poor services like Certificates of Deposits and Savings accounts because you think you are getting another good deal. I wish they would focus on what they are good at and maybe make those areas even better rather then trying to be the end all be all for banking and insurance if they are not going to put as much effort into all areas.
Members have more power now to compare rates and make better choices so you need to catch up USAA!
No, I do not recommend this product.
+2points
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Review 11 for Certificates of Deposits: Bank CD Rates
Overall rating 
4.0 / 5
4.0 / 5

Hate to leave

Written on1/25/14
Customer avatar
Stephen C
fromBloomington IL
Features 
5.0 / 5
5.0 / 5
Customer Service 
4.0 / 5
4.0 / 5
I have five laddered five year CDs. I gradually moved all of them to USAA when their rates were very close to high rate CDs from other companies. Unfortunately, this has been less and less the case over the last couple of years. Now, with one maturing this month, I can get triple the rate from a competitor. So although I've really appreciated having all my accounts at USAA, it's not worth hundreds or thousands of dollars to pay for the privilege of convenience.
I recommend this product.
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Review 12 for Certificates of Deposits: Bank CD Rates
Overall rating 
2.0 / 5
2.0 / 5

Uncompetitive Rates

Written on1/24/14
Customer avatar
JMShel
Military Affiliation:Retired
Military Branch:Navy
Features 
1.0 / 5
1.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
Shop around to find better rates.
No, I do not recommend this product.
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Review 13 for Certificates of Deposits: Bank CD Rates
Overall rating 
5.0 / 5
5.0 / 5

Great for all users!

Written on1/15/14
Customer avatar
The One and Only Me
fromSumner, WA
Military Affiliation:Family
Military Branch:Army
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I use my CD in place of a large savings account. I can't always trust myself to keep my money in the savings account and now that I am wanting to build my down payment for a house it is helpful to have a CD that I can make deposits to with each paycheck. Not only is the tools provided useful but all of the information on the USAA website has made it easier to prepare for my financial stability. This is great of young adults who are trying to balance free spending funds from savings funds that are being set aside for long term goals.
I recommend this product.
-1point
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Review 14 for Certificates of Deposits: Bank CD Rates
Overall rating 
4.0 / 5
4.0 / 5

I LIKE SEEING THE CD RATES BUT.....

Written on1/13/14
Customer avatar
GUNNYLOZANO
fromSan Antonio
Military Affiliation:Active
Military Branch:Marine Corps
Features 
2.0 / 5
2.0 / 5
Customer Service 
4.0 / 5
4.0 / 5
I WOULD REALLY LIKE TO SEE A CALCULATOR AFTER EACH RATE. SO I SHOULD BE ABLE TO PUT A DOLLAR AMOUNT IN AND IT WOULD CALCULATE THE TOTAL BALANCE AFTER THE CD MATURES. THAT WOULD BE COOL!!!
I recommend this product.
Response from USAABy ModeratorUSAA1/15/14
Thank you for your feedback. This is information that we gather to pass along to our Web Redesign Team. Should you need assistance calculating CD interest, please contact us at (800) 531-8722.
-2points
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Review 15 for Certificates of Deposits: Bank CD Rates
Overall rating 
4.0 / 5
4.0 / 5

CD Renewal

Written on1/7/14
Customer avatar
Scotty52
Military Affiliation:Retired
Military Branch:Air Force
Features 
4.0 / 5
4.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
Although CD Rates are low everywhere, I still use them to have some kind of guaranteed return. Since I am laddering some CD's; when changing the renewal date, I would like the option of being able to change and add an amount in the same transaction. The only way I see to do this online is to close it out and open a new one with the amount I want.
Otherwise working with USAA for banking and investing is a very pleasing experience..
I recommend this product.
-2points
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Review 16 for Certificates of Deposits: Bank CD Rates
Overall rating 
2.0 / 5
2.0 / 5

CD Rates

Written on1/4/14
Customer avatar
Karen E
fromGulf Breeze FL
Military Affiliation:Widowed
Military Branch:Air Force
Features 
2.0 / 5
2.0 / 5
Customer Service 
4.0 / 5
4.0 / 5
The CD rates are abysmal. I realize they conform to most bank's rates--but USAA is supposed to be performing better and doing MORE for their customers. I think you would attract even more customers to your banking services if you upped these rates. My CD is up for renewal and looking at the rates is depressing. Many seniors on fixed incomes depend on these rates. PLEASE consider raising your CD rates.
No, I do not recommend this product.
+5points
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Review 17 for Certificates of Deposits: Bank CD Rates
Overall rating 
5.0 / 5
5.0 / 5

CREDIT SCORE BOOSTER!!!

Written on12/30/13
Customer avatar
TiaraOutstanding
fromNew York
Military Branch:Army
Features 
4.0 / 5
4.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I started this card coming out of college with some already accrued debt. This CD would allow me to get a credit card, which was a part of my 5 year plan to better credit with hopes of buying a car.
Along with paying off some debt, the CD-secured credit card allowed me to purchase a vehicle within 2 years instead of 5. I'm thankful for this product and definitely recommend it to those looking to save or build credit. The interest rate is not great but it suits its purpose.
I recommend this product.
-2points
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Review 18 for Certificates of Deposits: Bank CD Rates
Overall rating 
5.0 / 5
5.0 / 5

CD's at USAA!

Written on12/19/13
Customer avatar
#1Veteran!
fromSalt Lake City, Utah
Military Affiliation:Separated
Military Branch:Air Force
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
It was really a pleasant experience to set up a CD account. Most of my information was "auto filled" from my intial account info. I just answered a few short questions and "bing" "bang"! I was all set up, with auto monthly savings from my checking account! This is a great program, and I would like to recomend it to all our veterans!
I recommend this product.
-1point
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Review 19 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

Written on12/2/13
Customer avatar
Chris000
Military Affiliation:Family
Military Branch:Army
Features 
1.0 / 5
1.0 / 5
Customer Service 
2.0 / 5
2.0 / 5
USAA CDs rates are very low I have looked around and other banks have rates almost double. Because I love usaa I keep thinking that the rates are going to become competitive, but they are not. I am getting discouraged.
No, I do not recommend this product.
Response from USAABy ModeratorUSAA12/31/13
Thank you for your feedback. We would like the opportunity to discuss your financial goals and our CD rates with you. Please contact us at 1-800-531-USAA (8722) if you would like to discuss.
+5points
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Review 20 for Certificates of Deposits: Bank CD Rates
Overall rating 
4.0 / 5
4.0 / 5

Awesome Credit Repair

Written on11/27/13
Customer avatar
SloppyPuppy
fromSan Diego, CA
Military Affiliation:Active
Military Branch:Army
Features 
4.0 / 5
4.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I've improved my credit score with this card well over 250 points in two years, it was well worth it. However, my CD only matured 20 dollars on 2000 in two years as well, overall it's served its purpose well.
I recommend this product.
-1point
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