A Premium Online Savings must be opened with a minimum balance of $5.
Earn ![]( "Premium Online Savings APY")
% APY* with Premium Online Savings
Earn 1 the national average
$5 minimum to open
Premium Online Savings benefits
Why PenFed?
We offer rates that are consistently competitive.**
**Data sourced directly from each lender listed: navyfederal.org, usaa.com, bankofamerica.com, and wellsfargo.com, and are current as of .
Premium Online Savings Calculator
Find out how much dividends you could earn.
Estimated Dividends Earned Over at APY*
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|---|---|
| Monthly Deposit | + |
| Total Deposits | |
| Total Dividends | + |
| Total Account Value |
Open in 3 easy steps
1. 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.
2. Open Your Account
Click “Open Now” at the top of this page to get started
3. Fund Your Account
Enter your account and routing numbers for your account at another financial institution to fund your new PenFed account.
- Electronic Funds Transfer: Initiate a transfer at PenFed using the ABA routing number and account number of the external bank. PenFed’s routing number is 256078446.
- Mobile Deposit: Download the PenFed mobile app and use Mobile Deposit.
- Internal Transfer: Transfer funds from another PenFed account.
- Mail a Check: Make the check out to yourself or PenFed Credit Union and mail it with the completed deposit/payment voucher to:
PenFed Credit Union
Box 247009
Omaha, NE 68124-7009
You can withdraw money from your account in the following ways:
Branch Networks and PenFed Branches in the US
Online transfer to an external bank account
Use online bill pay
Wire transfer
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 85-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.
Disclosures
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
.