To continue enjoying all the features of Navy Federal Online, please use a compatible browser. You can confirm your browser capability here.

Saving for Education

No matter the level of education you’re saving for—primary, secondary or higher education—by opening a tax-free Navy Federal Coverdell Education Savings Account (ESA) Certificate,1 you can reach your education savings goals faster.

Why Open a Certificate?

  • Earn guaranteed returns
  • Choose from a variety of terms
  • Enjoy flexible minimum deposit amounts.

APY as high as 

4.850% 2

Minimum deposit as low as

$50

Terms available

3 Months to 7 Years

Explore Our Accounts

Education Savings Account (ESA) Standard Certificate

Create an education savings plan to best fit your needs at your choice of term length, plus earn at a locked-in rate with an ESA Certificate.

Features:

  • Variety of term lengths
  • No maximum purchase amount
  • Earn tax-free if used for qualified education expenses

Best For:

  • Members who want to earn at a higher rate
  • Members who don't need flexible access to savings
  • Members who are interested in making a single deposit

APY 3

as high as

4.85%

Minimum Deposit

as low as

$1,000

Term

3 Months to 7 Years

Short Term Certificates Rate Table
Term $1K Minimum APY $20K Minimum APY $100K Minimum APY
3 Months 2.75% 2.75% 2.80%
12 Months 4.80% 4.80% 4.85%
18 Months 4.50% 4.50% 4.55%
24 Months 4.20% 4.20% 4.25%

Rates as of May 30, 2024 ET.

The APY is an annualized rate that reflects estimated dividend earnings based on the dividend rate and frequency of compounding. 
Penalties apply for early withdrawals from certificate accounts. Offering rates may change. Dividends compounded daily, credited monthly. 
Long Term Certificates Rate Table
Term $1K Minimum APY $20K Minimum APY $100K Minimum APY
3 Years 4.00% 4.00% 4.05%
5 Years 3.80% 3.80% 3.85%
7 Years 3.80% 3.80% 3.85%

Rates as of May 30, 2024 ET.

The APY is an annualized rate that reflects estimated dividend earnings based on the dividend rate and frequency of compounding. 
Penalties apply for early withdrawals from certificate accounts. Offering rates may change. Dividends compounded daily, credited monthly. 

Education Savings EasyStart℠ Certificate

Enjoy building savings quickly and easily with an ESA EasyStart Certificate, offering a low minimum purchase and flexible term lengths.

Features:

  • Add money anytime4
  • No maximum purchase
  • Open multiple certificates

Best For:

  • Members who want to build up their savings
  • Members who are looking for a variety of terms or laddering 
  • Members who want to add money at anytime

APY2

as high as

4.75%

Minimum Deposit

as low as

$50

Term

12 Months to 24 Months

EasyStart Certificates Rate Table
Term Minimum Deposit Dividend Rate APY
12 Months $50.00 4.64% 4.75%
18 Months $50.00 4.35% 4.45%
24 Months $50.00 4.07% 4.15%

Rates as of May 30, 2024 ET.

The APY is an annualized rate that reflects estimated dividend earnings based on the dividend rate and frequency of compounding.
Penalties apply for early withdrawals from certificate accounts. Offering rates may change. Dividends compounded daily, credited monthly.

Education Savings Special EasyStart Certificate

Do you have direct deposit into your Navy Federal checking account? If so, take advantage of special rates and low minimum purchase with our ESA Special EasyStart Certificate.

Features:

  • Add money anytime4
  • $3,000 maximum purchase
  • Requires checking and direct deposit
  • Limit one per primary account holder

Best For:

  • Members who want to start saving quickly
  • Members who want to take advantage of a special rate
  • Members who want to add money at anytime

APY5

as high as

5.30%

Minimum Deposit

as low as

$50

Term

12 Months

Education Savings Accounts

All of Navy Federal’s education savings plan are Coverdell ESAs. Learn more about these accounts and how they compare to 529 Plans.

Learn More about Coverdell ESAs and 529 Plans.

Want More Information About Saving?

Explore our resources at Navy Federal's Savings Learning Center.

Learn More Visit the Savings Learning Center.

Savings Resources

View Moresavings resources

Disclosures

1

Early withdrawals may have tax consequences, in addition to early withdrawal penalties or surrender charges. Consult a tax professional for more information.

2

This APY is accurate as of 05/30/2024. This APY is an annualized rate that reflects estimated earnings based on the dividend rate and frequency of compounding. Dividends compounded daily, credited monthly. Penalties may apply for early withdrawals from certificate accounts. Offering rates may change.

3

Penalties apply for early withdrawals from certificate accounts. Offering rates may change. This APY is accurate as of 05/30/2024.

4

Contributions can be made up to the maximum annual deposit amount of $2,000 per child per year.

5

Limit one Special EasyStart Certificate per member. The Special EasyStart Certificate has a $50 minimum balance and a $3,000 maximum contribution limit. Additional deposits are allowed at any time subject to the maximum contribution limit. Certificate owner(s) age 18 and older must have direct deposit* or a payroll allotment and a Navy Federal checking account within 90 days of the certificate issue date. If these requirements have not been satisfied by the 90th day, your Special EasyStart Certificate dividend rate will be adjusted to the prevailing dividend rate of the 12-month EasyStart Certificate for the remainder of the certificate's term. At maturity, the Special EasyStart Certificate will automatically renew and any amount exceeding the $3,000 maximum contribution limit will be transferred to your Membership Savings Account unless instructed otherwise.

*You may qualify for direct deposit if you have (1) a recurring ACH from employer, military pay, or certain government agency pay or benefits in your name that is deposited into a Navy Federal deposit account where you are Primary or Secondary Owner; OR (2) Mobile deposits, ATM deposits, or Branch deposits totaling at least $500 and recurring for at least three out of four consecutive months that are deposited into Navy Federal deposit accounts where you are Primary Owner; OR (3) monthly Non-payroll ACH totaling at least $500 and recurring for at least three out of four consecutive months that are deposited into Navy Federal deposit accounts where you are Primary Owner; OR (4) monthly Non-payroll ACH totaling at least $500 and recurring for at least three out of four consecutive months that are deposited into Navy Federal deposit accounts where you are Secondary Owner.