PREMIUM ONLINE SAVINGS

Start Earning More on Your Savings

APY*

With a daily balance up to $      I     $5 minimum to open    

*Annual Percentage Yield

OPEN NOW

Open a Savings Account and set up your PenFed membership.

1. Open Saving Account

2. Apply for membership

 

Features

 

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.

 

PenFed Membership Icon

Membership

Open the account and see how easy it is to qualify for
membership.

Free transfers icon

Free Online Transfers

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

PenFed Membership Icon

NCUA Insured

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

DISCLOSURES: Print IconPrint

APY (Annual Percentage Yield) is accurate as of and is subject to change at any time. Fees may reduce earnings. Government regulations restrict certain types of withdrawals from your Pentagon Federal Savings Account up to six times per monthly dividend cycle. If you exceed the permitted number of withdrawals, a fee will be assessed which may affect your earnings. 

 

Why PenFed?

We offer rates that are consistently competitive.**

 

PenFeds rates are some of the best

** Sourced directly from each bank or credit union listed: www.bankofamerica.com, www.capitalone.com, www.navyfederal.org, www.usaa.com.
APYs are accurate as of  and are for comparable savings products at other institutions.

 

3
Easy
Steps

 

How to Open

(Premium Online Savings is only available online)

step one - get your information together
Gather Your Information

You will need the social security number of the primary owner of the account, the full name and email of your joint owner, and the account and routing number of the account you will use to fund your initial deposit.

step two - open your PenFed account
Open an Account

Begin the application by providing your personal information. If you are not already a member, we will help you determine how you are eligible for membership as part of account opening. Remember, no military service is required for membership.

step three - fund your account
Fund your Account

You can fund your online account by linking your current bank account. Start earning interest on the day we initiate the transaction for you.

 

FAQs

 

How many withdrawals can I make each statement cycle?

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?