Premium Online Savings Calculator
Check out how much you could earn with our easy-to-use savings calculator! Just enter your starting deposit, how much you plan to add each month, and how long you want to save. You'll see your total savings, contributions, and interest earned by the end of your chosen time.
Estimated Dividends Earned Over at APY*
| Initial Deposit | |
|---|---|
| Monthly Deposit | + |
| Total Deposits | |
| Total Dividends | + |
| Total Account Value |
*Annual Percentage Yield
See how PenFed stacks up!
**Data sourced directly from each lender list: NavyFederal.org, usaa.com, bankofamerica.com, and wellsfargo.com and are current as of .
What to know about Premium Online Savings
Reach your savings goals
Start by picking the right savings account (or accounts). Stick with your deposits and try not to withdraw until you reach your goal.
Find the best high-yield savings account
Check out account features before you decide.
Minimum deposit & balance requirements
Pick an account with a minimum you can handle. Some let you start small, so you can grow your savings faster. If you can’t meet the requirements now, open a basic account and upgrade later.
Understanding APY (Annual Percentage Yield)
APY shows what you’ll really earn, since it includes compounding. Our calculator uses the current APY for you. Higher APY = faster growth.
Know the fees
Some accounts charge maintenance fees, but you can often avoid them by keeping the minimum balance and limiting transactions. Choose an account that helps you dodge fees and reach your goals sooner.
Your money, protected
Make sure your account is insured by the NCUA (for credit unions) or FDIC (for banks)—up to $250,000 per person, per account type, per institution. All PenFed accounts are covered up to $250,000.
Withdrawals & transfers: what to know
High-yield savings accounts let you access your money more easily than certificates, which lock in your funds for a set time. If you want flexibility, a high-yield savings account is a good pick.
Check for any limits on withdrawals or transfers, and see if penalties fit your needs.
Smart saving tips
Set a budget so you know how much you can save each month. Make regular deposits—automate them if you can, so you never miss one.
If you need to change your deposit amount, just update the calculator with your new balance and monthly deposit.
Had to make an emergency withdrawal? Enter your new balance as the Initial Deposit, and keep going.
Premium Online Savings FAQs
A Premium Online Savings must be opened with a minimum balance of $5.
- Electronic Funds Transfer - You can send funds from your external bank account using your PenFed account number and the PenFed routing number: 256078446.
- Mobile Check Deposit - Download our mobile app.
- Internal Transfer – Use an existing PenFed account.
- Cash and Check Deposit – Visit a PenFed branch location or use a branch ATM.
- Mail a check – Follow the instructions below:
- Print the following deposit voucher: (Form 451W.pdf)
- Complete all fields in Section 1 and Section 2 and enter your account number in Section 3.
- Mail the check with your voucher to:
PenFed Credit Union
Box 247009
Omaha, NE 68124-7009
Note: Please allow 5-7 business days for USPS mail delivery time.
- Log in to PenFed Online or the PenFed Mobile app to:
- Perform an online transfer to an internal or external bank account
- Write a check
- Use online bill pay
- Wire transfer
- Cash Withdrawal
- Visit a PenFed branch location
Generally, when you request an electronic transfer or make a check deposit, our funds will be available for withdrawal no later than the 5th business day after you initiate your transaction at PenFed.
You will start to earn dividends on the business day you initiate your deposit at PenFed.
Dividends are compounded monthly and credited to your account monthly.
Your Premium Online Savings Account is not accessible from an ATM. To access your savings from an ATM open a Regular Savings Account or a Money Market Savings Account.
As an -year-old Financial Institution, we’ve stood by our members through thick and thin. We’re not just a credit union. We’re your partner. Becoming a PenFed member means never facing a financial decision alone.