Third Federal CD Rates

By
Carissa Rawson
Carissa Rawson headshot
Full Bio
Carissa Rawson is a personal finance and credit cards expert who has been featured in numerous publications, including Forbes, Business Insider, and The Points Guy. Carissa earned a bachelor's degree from the American Military University and has an MBA from Norwich University, an M.S. from the University of Edinburgh, and is currently pursuing an MFA from National University.
Learn about our editorial policies
Updated May 26, 2023
Fact checked by
Lars Peterson
A black-and-white photograph shows Lars Peterson
Fact checked by Lars Peterson
Full Bio
With nearly 15 years of experience as a writer and editor in personal finance and small business, Lars Peterson has written and edited for The Balance, Wise Bread, US News, and Amex OPENForum, among others. His 20+ years as an editor and writer have included roles in book publishing, marketing, technical writing, travel, and personal finance. Lars Peterson joined Investopedia in 2023 after four years as an editor with The Balance.
Learn about our editorial policies
Financial advisor meeting with couple about CD rates

JohnnyGreig / Getty Images

We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more.

First opened in 1938, today Third Federal Savings & Loan operates in 25 states. 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.

Third Federal Special CD Account Overview

CD Term APY Minimum Deposit
3 months 3.50% $500
11 months 3.65% $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 Term Range
3 months 3.50% $500 N/A
6 months 0.50% $500 N/A
12 months 1.50% $500 12–72 months

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%—more than any other CD product Third Federal offers. 

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 1.54% for one-year CDs. Third Federal offers its banking services, including CDs, nationwide online and over the phone.

Compare Savings Account 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
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

  1. Third Federal. "Certificate of Deposit Rates."

  2. Third Federal. "Disclosures."

  3. FDIC. "National Rates and Caps."