Earn % APY* on your savings.

  • Earn 1 the national average
  • $5 minimum to open

Not a problem, anyone can join. Apply now and we'll create your membership during this application.

*Annual Percentage Yield




NCUA Insured

No Monthly Maintenance Fee

Put more money back into your pocket!

higher rates icon

Higher APY

As a not-for-profit, we're able to offer higher yields and fulfill our promise of giving back to our members.


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You can establish your PenFed membership with a Premium Online Savings Account.

Free transfers icon

Free Online Transfers

Setup recurring transfers from your account without paying annoying transfer fees.

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NCUA Insured

Your account is Federally 
insured by the NCUA to at least $250,000.

Disclosures Print Icon Print

APY (Annual Percentage Yield) is accurate as of and is subject to change at any time. Fees may reduce earnings.

Premium Online Savings account holders must agree to electronic delivery of account opening disclosures and monthly statements.

1The rate for our Premium Online Savings Account is the national average of % APY, based on the national average of savings accounts rates published in the FDIC Weekly National Rates and Rate Caps accurate as of .

Why PenFed?

We offer rates that are consistently competitive.**

% PenFed
% Navy Federal
% Bank of America
% Wells Fargo

**Data sourced directly from each lender listed:,,, and, and are current as of .




How to Open

step one - get your information together
Gather Your Information

You will need your social security number to open an account. You can add a joint owner and up to two beneficiaries during the account opening. If you would like to have a joint owner, you will need your joint owner to enter their social security number and other personal details.

step two - open your PenFed account
Open Your Account

Click “Open Now” at the top of this page to get started.

step three - fund your account
Fund Your Account

Enter your account and routing numbers for your account at another financial institution to fund your new PenFed account.




What is the maximum amount I can transfer?

When will my deposits be available?

What is a Business Day?

When will I start to earn dividends on my deposit?

How are dividends on my savings calculated?

What are trial deposits and how do they work?

Where can I mail my check for deposit?

Can I access my Premium Online Savings Account at an ATM?

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