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:
3.863 / 5
3.9
 / 
5
(780 reviews) 746
Open Ratings Snapshot
Rating breakdown 780 reviews
5 Stars
392
4 Stars
142
3 Stars
73
2 Stars
93
1 Star
80
575 out of 78074%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.

+301points
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Review 2 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.
0points
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Review 3 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 4 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.
+1point
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Review 5 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.
+2points
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Review 6 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 7 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.
+1point
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Review 8 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 9 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 10 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 11 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.
+2points
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Review 12 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.
+5points
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Review 13 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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Review 14 for Certificates of Deposits: Bank CD Rates
Overall rating 
5.0 / 5
5.0 / 5

Best customer service

Written on1/6/15
Customer avatar
such a girl
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
My experience at USAA today with Michele was amazing. Very personable and answered all of my questions.I am very happy with all of the services offered.
Thank you Michele!!!
Sincerly,
Deborah
I recommend this product.
Response from USAABy USAAModerator1/16/15
USAA strives to be the best. We are glad to hear Michele was able to assist you.
-1point
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Review 15 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

CD rates are not competitive

Written on1/5/15
Customer avatar
rick07
Features 
1.0 / 5
1.0 / 5
Customer Service 
1.0 / 5
1.0 / 5
I have to agree completely with other reviews that your CD rates are terrible. Some local credit unions nearby have increased CD interest rates to 2% for 5 to 7 year CDs. Why would I purchase one from USAA for 1.11%?
No, I do not recommend this product.
Response from USAABy USAAModerator3/5/15
Thank you for taking the time to provide your feedback concerning CD rates. USAA strives to be the provider of choice and your feedback is important in achieving our goal. We value your long standing membership!
+2points
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Review 16 for Certificates of Deposits: Bank CD Rates
Overall rating 
3.0 / 5
3.0 / 5

Love the product and service, but not the rates

Written on1/3/15
Customer avatar
Stephen C
fromBloomington IL
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
As I found last year, I can more than double my CD interest rate by leaving USAA. This is unfortunate as I love USAA and would love to keep this money with them, but I'm not willing to pay thousands of dollars over a five year period for the privilege of loaning them my money.
No, I do not recommend this product.
+6points
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Review 17 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

Poor Rates

Written on11/23/14
Customer avatar
ERogan5877
Features 
1.0 / 5
1.0 / 5
Customer Service 
4.0 / 5
4.0 / 5
The CD rates are horrible. I have two savings accounts that are paying nearly as much as the 60 month CD from USAA. I just got a 60 month CD for 60 months @ 2.4%. The other frustrating item, I open an assest management account. I put around 10k into it. I have a large account with a discount brokerage firm. I use margin often. Usaa charges nearly 8% while using markin, but pay you .10% when you have cash in your account. Basically usaa is taking your money while paying you 1/10th of a percent and charging other people 8%. Usaa how about you share the wealth. I pulled all the cash out of my assest management account and sent it elsewhere. Other banks pay decent intrest rates to anyone. The people who put their life on the line and a bank that is only for service members should get better rates than the average Joe on the street.
No, I do not recommend this product.
+12points
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Review 18 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

CD Rates

Written on11/23/14
Customer avatar
fatherof5
Features 
5.0 / 5
5.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
I typically try to use USAA products for all my banking, but the CD rates are horrible. I'd recommend to everyone to shop around before getting a CD at USAA.
No, I do not recommend this product.
+9points
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Review 19 for Certificates of Deposits: Bank CD Rates
Overall rating 
2.0 / 5
2.0 / 5

CD LOW INTEREST

Written on11/2/14
Customer avatar
Geoj
Features 
1.0 / 5
1.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
USAA has always given me good service. However, their CD rates are only two/fifths of comparable products in the open market. Sixty percent (60%) is too high a premium to pay to buy USAA Bank CDs. Your directors may want to reevaluate this position as your current low rates are undoubtedly costing you a lot of business. I like your company. Please get competitive. Geo j
No, I do not recommend this product.
+7points
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Review 20 for Certificates of Deposits: Bank CD Rates
Overall rating 
1.0 / 5
1.0 / 5

Easy to start, terrible rates.

Written on10/25/14
Customer avatar
EndtheFed
fromVegas
Military Affiliation:Separated
Features 
2.0 / 5
2.0 / 5
Customer Service 
5.0 / 5
5.0 / 5
Rates are so bad, the product is useless. It is very easy to start a CD, so i gave points for website layout.
No, I do not recommend this product.
+10points
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