FAQs
Premium Online Savings Offer
Get up to a $750 bonus1 when you open a new Premium Online Savings account
Limited Time Cash Bonus
Earn more money while saving with this exclusive limited time bonus offer. Open a NEW PenFed Premium Online Savings account and fund with $10,000 or more on or before December 30, 2023.
Get a $150 bonus for every $10,000 deposited, up to $50,000, when you fund from an external account and keep it funded until April 30, 2024.
New money is funds deposited from an external account into your new Premium Online Savings account. The funds must be new funds to PenFed.
Your funds eligible for the bonus must be deposited and maintained in your new Premium Online Savings account. If any portion or all the funds eligible for the bonus are moved out of your Premium Online Savings account, those funds will no longer be eligible for the bonus.
The cash bonus will be paid as a statement credit and included on your consolidated statement.
No, this offer is non-transferable.
No, this offer is limited to one bonus and one new Premium Online Savings account per member.
Yes, however, to qualify for the bonus a minimum of $10,000 must be deposited into your Premium Online Savings account and held for 4 consecutive months.
Yes, however the bonus is capped at $750 for a $50,000 deposit and must be held in the account for 4 consecutive months.
Disclosures
1. Offer is valid from 11/15/23 to 12/30/23. This exclusive Bonus Offer is only available for the original recipient of the email and cannot be shared or made eligible beyond the original recipient.
Offer Details: During the Offer Period or before 12/30/2023, make deposits of up to $50,000 from an external account into your PenFed Premium Online Savings account External funds are considered any new money deposited into your account from an account not affiliated with PenFed. Funds transferred internally within PenFed accounts do not qualify for this offer. The new money plus your existing balance must remain in the PenFed Premium Online Savings account from 12/30/23 to 4/30/24 to be eligible for the Bonus Offer. Your total balances at PenFed must increase by the end of the promo period. Upon meeting the Offer qualifications, you will receive a $150 bonus for every $10,000 deposited into your account. Maximum bonus received is $750 per member. Your promotional bonus will be reported in your year-end Form 1099-INT as taxable income. Bonus will be credited to the account in the form of a statement credit. Your account must stay open and be in good standing when bonus is credited to your account. Please allow up to 60 days for the Bonus to appear in your account.
We reserve the right to modify or revoke this Offer at any time, without notice. If we determine that abuse or gaming has occurred in connection with this Offer, your eligibility and bonus may be null and void.