Interest rates on Merrick Bank CDs offer competitive interest rates. The rates are competitive with other online CDs. They are much higher than other brick and mortar bank rates.

Merrick Bank offers personal credit cards. They offer a Secured Visa credit card specifically to build or rebuild customer’s credit. They also offer a Platinum Visa for customers who have better credit. Each credit card comes with Zero Liability for Unauthorized Use and account alerts.

Merrick Bank is an online account. Once you are approved to open a CD everything else for your account is online or on the mobile app. You can deposit or withdraw money from the CD during the grace period or at maturity.

The Merrick Bank 12-month CD term offers competitive interest rates. The interest you earn is credited to your account each month. You can watch your money grow. You can withdraw money from your CD during the grace period or once the CD reaches maturity.

To open a CD through Merrick Bank requires a large sum. The 12-month CD requires $25,000 to open the account. The opening deposit must be one transaction. Deposit money electronically through a linked bank account.

When applying for a CD with Merrick Bank, you must qualify. Each CD is carefully reviewed. Acceptance to open a CD is based on the person's credit. If you do not meet the set criteria, you cannot open an account with Merrick Bank. If you receive an offer in the mail, you are eligible to open a CD.

After you apply for an account with Merrick Bank, you will receive a letter in the mail. This will inform you if you qualified for an account or not. The letter takes two to three weeks to receive. If after the allotted time you have not heard from Merrick Bank, you can call customer service.

Merrick Bank offers a limited amount of personal deposit accounts. Only one 12-month CD is available. They do offer personal credit cards and lending options. This bank helps customers build or rebuild their credit. To open an account, you must qualify.

Read the full Merrick Bank review.

Navy Federal accounts have low opening required amounts. The savings account only requires $5 to open. The money market account does not have a set amount required to open, but to earn interest requires $2,500. The checking accounts do not have a set amount required to open. The CDs have tiered opening required amounts. The lowest amount to open a regular CD is $1,000. Special CD offers require lower opening amounts.

There are a wide variety of accounts offered through Navy Federal. They offer a savings account, money market account, and CDs. Their CD terms range from three-month terms to seven-year terms. Navy Federal offers five checking accounts. Those accounts include one for students, an online account, and an active duty account. Navy Federal also offers loans and credit cards.

Most Navy Federal checking accounts offer ATM fee reimbursement. Only the Everyday Checking account does not. The reimbursement amount ranges from $10 to $20, depending on the account. Some accounts require a direct deposit to earn the reimbursement.

Most all Navy Federal accounts offer competitive interest rates. The CDs offer the most competitive interest rates. Navy Federal savings and checking accounts earn interest. The rates are lower than online account rates. The money market account rates are slightly lower than online rates. These rates are higher than typical bank rates.

Before you open an account with Navy Federal, you must first become a member of the credit union. Servicemembers and veterans are eligible to join Navy Federal. Department of Defense employees are eligible. Family members of each of these groups can become members of Navy Federal Credit Union.

Navy Federal money market and Flagship checking account have tiered interest rates. To earn the most competitive rate on the MMA requires a balance of at least $50,000. The checking account requires $25,000. To earn the most competitive rate on Navy Federal CDs requires $100,000.

Navy Federal only allows for a daily cash withdrawal of $600. This includes cash from an ATM, a branch, or receiving cash back. There is a daily transaction limit of $3,000 for most checking accounts and $5,000 for the Flagship checking. Their accounts do not typically have limits on the number of transactions.

Read the full Navy Federal Credit Union review.