What Are USAA Interest Rates?
United Services Automobile Association (USAA) provides services that benefit members of the United States military and their spouses and direct relatives, including children and grandchildren. You must first be approved as a member to have access to these services, and you can only apply for services online or by phone. No physical location accepts potential members of this military-based financial services company.
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Savings Accounts
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The USAA savings account annual percentage yield (APY) -- or interest rate -- is calculated based on how much money you maintain in your account. As of January 28, 2011, if you maintain up to $999, then your APY is 0.25 percent; between $1,000 and $4,999, then 0.30 percent; between $5,000 and $$9,999, then 0.35 percent; between $10,000 and $24,999, then 0.40 percent; and more than $25,000, then 0.45 percent.
Credit Cards
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USAA offers four different credit cards for members. Your interest rate will depend on your creditworthiness and credit score. These rates for USAA cards range from 8.4 percent annual percentage rate (APR) to 23.4 percent APR. In accordance with the Servicemembers Civil Relief Act, USAA will lower the APR to 4 percent for an active duty servicemember's credit cards for 12 months -- while the member is deployed or during a permanent change of station.
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Auto Loans
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USAA provides auto loans to members. Your interest rate will be based on several factors: credit score, whether you plan on buying a new or used car, length of time financed and amount financed. If you have excellent credit, then your interest rate could be as low as 2.49 percent or as high as 7.04 percent, as of April 2011. For members with credit that needs significant improvement, their interest rate could be as high as 11.99 percent.
Mortgage Rates
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USAA offers Veterans Affairs (VA) loans, Federal Housing Administration loans, fixed rate mortgages and adjustable rate mortgages. Your interest rate will be based on your credit profile and the loan type you choose. As of April 2011, interest rates for a 30-year fixed mortgage could be as low as 4.375 percent or as high as 5.500 percent, while a 15-year fixed rate could be as low as 3.750 percent or as high as 4.875 percent. Mortgages will require a 20 percent down payment, with the exception of the VA loan.
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References
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