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:
3.837 / 5
3.8
 / 
5
(787 reviews) 753
Open Ratings Snapshot
Rating breakdown 787 reviews
5 Stars
392
4 Stars
142
3 Stars
73
2 Stars
93
1 Star
87
575 out of 78773%customers recommend this product.
Customer questions and answers:
94 Questions | 196 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.

+303points
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Review 2 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

Poor rates, poor service, odd ethics.

Written on5/17/15
Customer avatar
Willy the Worm
fromDelaware County, PA
Military Affiliation:Separated
Military Branch:Navy
Features 
1.0 / 5
1.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
USAA was once an organization of the members, for the members. It seems that it is now of the employees, for the employees. No more "for the benefit of the member-owners".
A case in point is my recent review of this product, the USAA CD. I recently placed a review of the poor rates offered on USAA CD's and the substantially better rates offered by two different DOD financial institutions. This would certainly have been beneficial for my fellow member-owners at USAA. Alas, a paid rep at USAA called me while I was working and informed me the review had to be removed.
I would like to see USAA FSB, a wholly owned subsidiary of USAA, of which I am a part owner, offer CD rates similar to the largest credit union available to DOD officers and employees. I would also like to see it offer CD rates similar to most of the other higher yielding internet banks that are safe. Many of these rates are double the best USAA is willing to do for their owners. Leave this post up. Thanks.
No, I do not recommend this product.
+1point
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Review 3 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

CD rates.

Written on5/9/15
Customer avatar
Member121
Hello. Before you respond with 'usaa strives to...' And 'cd rates are just one way usaa provides customers with...' Please answer the same question all the reviews posted before mine are asking which is 'why are usaa cd rates lower than just about every other bank'. Pls do not misunderstand me, I enjoy having usaa as my bank and do most everything with usaa. But these rates are embarrassing. Thanks.
No, I do not recommend this product.
Response from USAABy USAAModerator5/19/15
Thank you for your comment. USAA does strive to remain competitive; however, there will be times when other banks will have higher rates due to their financial situation. A Specialist will contact you within 24 hours discuss further if you would like. In addition, we will review prior responses to CD rate inquires and evaluate. Thank you for bringing this to our attention and for your feedback.
+3points
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Review 4 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

Moderator of this review site

Written on5/3/15
Customer avatar
One Dog Doc
Features 
2.0 / 5
2.0 / 5
Customer Service 
4.0 / 5
4.0 / 5
The same "canned" response is given over and over in this list of reviews. It is a shame that a true response is not given. I read through the list back several years. Here's what we get in response to poor CD rates that USAA offers:
Thank you for your feedback. USAA strives to provide the most competitive CD rates. Rates are just one component of the many ways USAA shows value to its members. We offer a variety of CD options and other USAA products that can serve various goals including earning more interest. Please visit our rate page or call (800) 531-8722 and speak to a USAA financial advisor about all the Savings and Investment options available.
No, I do not recommend this product.
Response from USAABy USAAModerator5/18/15
Thank you for your feedback. We will review prior responses regarding CD rates and evaluate. USAA strives to remain competitive; however, other banks may have higher CD rates due to their financial situation.
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Review 5 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

responses on reviews

Written on5/3/15
Customer avatar
chrisCATM77
Features 
1.0 / 5
1.0 / 5
Customer Service 
4.0 / 5
4.0 / 5
USAA, I am disappointed in your ability to reply to people's reviews, almost none of your responses are any help nor do they explain anything. All your responses are the same cut-and-paste segments."Thank you for your feedback. USAA strives to provide the most competitive CD rates. Rates are just one component of the many ways USAA shows value to its members. We offer a variety of CD options and other USAA products that can serve various goals including earning more interest. Please visit our rate page or call (210) 531-8722 or (800) 531-8722 and speak to a USAA financial advisor about all the Savings and Investment options available." This paragraph you use does not explain why your rates for CD's are NOT competitive to other banks. Bankrate.com shows the "Most competitive CD rates" and they are all way better than USAA. I would suggest looking into improving your CD rates and improving how you respond to peoples reviews.
No, I do not recommend this product.
Response from USAABy USAAModerator5/18/15
Thank you for speaking with us today. We really appreciate your feedback and we will review the responses you mentioned and evaluate. Thank you for your membership.
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Review 6 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

CD Interest Rates

Written on4/24/15
Customer avatar
BrownieBug
fromTacoma WA
Military Affiliation:Retired
Military Branch:Army
Features 
1.0 / 5
1.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
Ally Bank just increased CD rates. Will USAA do the same?
Is anyone at USAA listening?
No, I do not recommend this product.
Response from USAABy USAAModerator4/29/15
Thank you for your feedback and 44 year membership. USAA strives to provide the most competitive CD rates. Rates are just one component of the many ways USAA shows value to its members. We offer a variety of CD options and other USAA products that can serve various goals including earning more interest. Please visit our rate page or call (210) 531-8722 or (800) 531-8722 and speak to a USAA financial advisor about all the Savings and Investment options available.
+2points
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Review 7 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

CD rates not competitive.

Written on4/8/15
Customer avatar
Nicknam
USAA says its rates are competitive. This is wrong, and you should admit it. Denying the truth makes you look bad. USAA's rates are much lower than other on-line banks, and are more in line with bricks and motor banks.
Try explaining why your rates are not competitive, which is what members want to know.
No, I do not recommend this product.
Response from USAABy USAAMODERATOR4/23/15
Thank you for your feedback. USAA strives to provide the most competitive CD rates. Rates are just one component of the many ways USAA shows value to its members. We offer a variety of CD options and other USAA products that can serve various goals including earning more interest. Please visit our rate page or call (210) 531-8722 or (800) 531- USAA (8722) and speak to a USAA financial advisor about all the Savings and Investment options available.
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Review 8 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

CD Rated

Written on4/4/15
Customer avatar
Poor Boy
fromNew York
Military Affiliation:Separated
Military Branch:Army
Features 
1.0 / 5
1.0 / 5
The interest rate on this 2 years did me no satisfaction. For the entire 2 years i couldn't buy two cups of coffee from Dunkin Donuts. On the other hand it allowed me to save the amount of money I invested in the CD. So i have to look at this as a postive note on my behave.
No, I do not recommend this product.
Response from USAABy USAAModerator4/21/15
Thank you for your feedback. USAA strives to provide the most competitive CD rates. Rates are just one component of the many ways USAA shows value to its members. We offer a variety of CD options and other USAA products that can serve various goals including earning more interest. Please visit our rate page or call (210) 531-8722 or (800) 531-8722 and speak to a USAA financial advisor about all the Savings and Investment options available.
+1point
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Review 9 for Certificates of Deposits: Bank CD Rates
Overall rating 
5.0 / 5
5.0 / 5

Web site

Written on3/28/15
Customer avatar
Randy S
fromTroy, Michigan
Military Affiliation:Separated
Military Branch:Army
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I love the USAA web site. For an older person who is not computer savvy, I find this website to be a pleasure to use. I never have a problem finding exactly the info that I need.
Thanks!
I recommend this product.
-1point
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Review 10 for Certificates of Deposits: Bank CD Rates
Overall rating 
2.0 / 5
2.0 / 5

Better Rate Elsewhere

Written on3/17/15
Customer avatar
MoneyMaker12345@
Features 
3.0 / 5
3.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
Set up a 5-year CD ladder program (1,2,3,4,& 5 yr CD). While interest rates declined after the 1st year, it was comparable to most other banks. I continued renewing each mature CD to a 5-year one, until the 5th year. The interest rates provided by USAA became so dismal, that I was forced to look elsewhere.
It is unfortunate that I could not complete the ladder, but when NFCU offered an interest rate of almost twice as much as USAA and gave an additional 1/4% bonus for long term members, I was forced to change.
Overall, USAA is a very good and stable company; their staff is professional and helpfull; and their website is easy to navigate. If their interest rates become again more competitive, investing with the company is recommended.
No, I do not recommend this product.
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Review 11 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

Terrible Rates

Written on3/6/15
Customer avatar
Ellis1
Features 
1.0 / 5
1.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
Why would anybody ever invest any money into a USAA CD? Literally every other bank that offers CDs has MUCH better returns. Why can they not get this right?
No, I do not recommend this product.
Response from USAABy USAAMODERATOR3/25/15
Thank you for your feedback. USAA strives to provide the most competitive CD rates. Rates are just one component of the many ways USAA shows value to its members. We offer a variety of CD options and other USAA products that can serve various goals including earning more interest. Please visit our rate page or call (210) 531-8722 or (800) 531-8722 and speak to a USAA financial advisor about all the Savings and Investment options available.
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Review 12 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

CD Rates

Written on3/4/15
Customer avatar
Brooklyn Al
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
The CD rates have been dismal for years....any hope of improvement????
No, I do not recommend this product.
Response from USAABy USAAModerator3/24/15
Thank you for your feedback. USAA strives to provide the most competitive CD rates. Rates are just one component of the many ways USAA shows value to its members. We offer a variety of CD options and other USAA products that can serve various goals including earning more interest. Please visit our rate page or call (210) 531-8722 or (800) 531-8722 and speak to a USAA financial advisor about all the Savings and Investment options available.
+1point
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Review 13 for Certificates of Deposits: Bank CD Rates
Overall rating 
5.0 / 5
5.0 / 5

I love Usaa

Written on3/3/15
Customer avatar
shay7
Features 
4.0 / 5
4.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I love Usaa, but the CD rates are not that great compared to others like Service credit union. They need to get in line with the time and offer better CD and insurance rates. Loyal customers are getting better rates at other banks for their money. Just something to think about!
I recommend this product.
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Review 14 for Certificates of Deposits: Bank CD Rates
Overall rating 
4.0 / 5
4.0 / 5

CD"s

Written on3/3/15
Customer avatar
dhd2
I notice when reviews concerning USAA services/products that USAA generally responds when positive comments are made by members. However, when members complain about the non-competiveness of CD rates of USAA there is no comment, explanation by USAA. It would be nice to read a comment by USAA concerning this.
No, I do not recommend this product.
+2points
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Review 15 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

Bottom of group rates

Written on2/28/15
Customer avatar
skramer
fromFl
Military Affiliation:Separated
Military Branch:Marine Corps
Features 
4.0 / 5
4.0 / 5
The rates are horrible for CD's at USAA. I pulled out my money market, and in 1 month I made more interest then I would in a year at USAA going with Ally. The CD rates are much higher as well, just waiting on the pull out date. USAA should really consider becoming more in line with online only banks, for me USAA is only available online
No, I do not recommend this product.
+2points
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Review 16 for Certificates of Deposits: Bank CD Rates
Overall rating 
5.0 / 5
5.0 / 5

Customer Service

Written on2/25/15
Customer avatar
Sioning
fromTexas
Military Affiliation:Widowed
Military Branch:Army
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I reaslly do not have problems with the customer representatives; everytime I get "in trouble" with usaa, everyone seemed so cordial, attentive, and seemed to know my problems even before I said something! Keep up the good work!!!
Thank you.
I recommend this product.
0points
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Review 17 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

AAdd tax ID number to CD screen

Written on2/24/15
Customer avatar
Atilla the Hun
Features 
1.0 / 5
1.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
Right now there is no way for a CD owner to check and determine whether the correct format is used for a CD until the 1099s are produced.
Right now I am going into the third year of getting a CD tax ID number format corrected on the 1099. The incorrect format is in a social security number format and it should be in the tax ID number format.
EXAMPLE: SSN format is 123-98-0000.
Tax ID format 12-3980000.
You can say what's the big deal all the numbers are there.
One problem is that I can't start preparing my 1041 tax return until I have all 1099's with the number in the tax ID format. Everyone of my investments are with the same tax ID number.
Based on past experience, this use of different tax ID number formats triggers an audit from IRS.
So please find a find a way to print the tax ID number on the account screen, so that the account holder can check its accuracy at the time the account (CD) is opened, updated, changed etc.
No, I do not recommend this product.
-1point
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Review 18 for Certificates of Deposits: Bank CD Rates
Overall rating 
2.0 / 5
2.0 / 5

can't accept the inferior CD rates

Written on2/9/15
Customer avatar
RBZu
fromNorthern VA
Features 
1.0 / 5
1.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
i love usaa service normally, too, but these CD interest rates are not competitive. My credit union rates are better across the board, e.g., 2.02 percent vs 1.06 from usaa on a 5 year fixed rate cd.
No, I do not recommend this product.
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Review 19 for Certificates of Deposits: Bank CD Rates
Overall rating 
2.0 / 5
2.0 / 5

Almost A Decade Of Unfair Rates

Written on2/3/15
Customer avatar
Sailor in Dunedin
fromDunedin, FL
Features 
3.0 / 5
3.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
We are moving forty years worth of savings from USAA because the rates continue to be horribly low. Look at what USAA charges for loan rates and see what they pay for savings. A short shopping trip on the internet shows far better, but still anemic, rates at other financial institutions.
No, I do not recommend this product.
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Review 20 for Certificates of Deposits: Bank CD Rates
Overall rating 
2.0 / 5
2.0 / 5

CD Rates

Written on1/28/15
Customer avatar
hohon3
fromCalifornia
Features 
4.0 / 5
4.0 / 5
Customer Service 
4.0 / 5
4.0 / 5
I was curious about the review section and decided to take a look. I was somewhat set back by the fact the only comments responded to by USAA were in response to positive reviews or specific questions.
There wasn't one response concerning member questions on the absolutely lowest interest rates on CDs in the industry. How about some explanation? How about some higher rates? How about sharing some of the profits with the members?
No, I do not recommend this product.
Response from USAABy USAAMODERATOR3/19/15
Thank you for your feedback. USAA strives to provide the most competitive CD rates. Rates are just one component of the many ways USAA shows value to its members. We offer a variety of CD options and other USAA products that can serve various goals including earning more interest. Please visit our rate page or call (800) 531-8722 and speak to a USAA financial advisor about all the Savings and Investment options available.
+1point
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