Earn % APY* on your savings

  • Earn over 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

Get more from your savings with Premium Online Savings

Earn More

  • Earn the national average1
  • Earn % APY*

Zero Monthly Fees

  • No monthly maintenance fees
  • No online transfer fees

Manage Your Savings Anytime, Anywhere

  • 24/7 digital access
  • Convenient and easy-to-use mobile app
  • Mobile deposit

Membership is easy and open to everyone

Open your account: Click “Open Now” below.

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


Data sourced directly from each lender listed:,,, and, and is current as of September 1, 2021.




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?

Why choose PenFed?


*APY (Annual Percentage Yield) is accurate as of August 1, 2021 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. Government regulations restrict certain types of withdrawals from your Pentagon Federal Savings Account up to six times per monthly dividend cycle. Effective April 24, 2020, the Federal Reserve Board announced an interim final rule to amend this regulation and allow consumers to make unlimited withdrawals from savings accounts. In accordance with this interim final rule, we have temporarily suspended restrictions on the number and types of withdrawals processed from your Premium Online Savings accounts that you can make per monthly dividend cycle.

1The rate for our Premium Online Savings Account is over 7x the national average of 0.06% APY, based on the national average of savings accounts rates published in the FDIC Weekly National Rates and Rate Caps accurate as of August 1, 2021.

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

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