Savings Accounts Overview
  • *Please see 'Details and Disclosures' below for important account information.

  • Regular Savings Account

    Regular Savings Account

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    • Establishes your PenFed membership
    • Dividends compounded daily and credited monthly
     0.05% APY 
    • Easily transfer funds to your accounts
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    Money Market Savings Account

    Money Market Savings Account

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    • High yields on balances of $100,000 and above
    • Government backed insurance
    • No regular service fees
    • Free checks upon request
    Balance Amount Dividend Rate APY
    $100,000 + 0.15% 0.15%
    $50,000 to $99,999  0.10% 0.10%
    $10,000 to $49,999  0.10% 0.10%
    Under $10,000  0.05% 0.05%
    • 4 tiers and rates available depending on balance amount
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  • Details and Disclosures

  • Coverdell Education Savings 

    APY (Annual Percentage Yield)  is accurate as of February 1, 2017 - February 28, 2017 and is subject to change at any time. Fees may reduce earnings. 


    We will establish your certificate on the day we receive your application and funding. Once purchased, the rate is locked in for the term of your certificate.


    Certificate dividends are compounded daily and credited monthly.


    Early Redemption Penalties 

    Penalties are imposed for early withdrawal of Coverdell Education share certificates. You must provide your request in writing.


    If the certificate is redeemed within the first year, all dividends will be forfeited.


    If after the first year, but prior to the maturity date, the early withdrawal penalty will equal 30% of what would have been earned if the certificate had been held to maturity, not to exceed total dividends earned.

  • APY = Annual Percentage Yield. APY is accurate as of February 1, 2017 - February 28, 2017 and is subject to change at any time. Fees may reduce earnings.

    There is no limit to the number of Pentagon Federal or foreign ATM withdrawals you make with our MMSA. However, government regulations restrict other types of withdrawals from your Pentagon Federal MMSA account up to six times per monthly dividend cycle. Checks are counted by the date they are paid from your account (as shown on your statement), not by the date you write them. If you exceed the permitted number of withdrawals, a fee will be assessed which may affect your earnings. Account transfers and automatic transfers are also included as part of your six withdrawals per monthly dividend cycle.