Available for residents nationwide, PenFed Credit Union is offering a Online Savings 0.50% APY account.
Continue reading below to learn everything you need to know about PenFed Credit Union.
PenFed Credit Union Online Savings Review
Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions serving 1.7 million members worldwide with $25 billion in assets. They are federally insured by NCUA and are an Equal Housing Lender.
In addition to the rate from PenFed Credit Union, check out our list of best rates Savings, Money Market, and CD accounts.
|Eligibility: They now have an open charter and no military affiliation is required. All members must open and maintain a share (savings) account with at least $5. This is not a membership “fee” – it is the member’s ownership share, and the requirement is the same for every member. Everyone is now eligible to apply for membership here: See current membership details|
If you are interested in expanding your financial future, definitely use our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank and many more.
I’ll review PenFed Credit Union Online Savings below.
PenFed Credit Union Online Savings Rate
To earn PenFed Credit Union competitive rate, simply have an opening deposit of $0.60. That’s all it takes and you’ll get to enjoy earning the 0.50% rate on all balances.
- What you’ll get: 0.50% APY
- Eligible account: Online Savings
- Credit inquiry: Unknown
- Where it’s available: Nationwide
- Opening Deposit: $0.60 minimum
- Monthly fee: None
- Early Termination Fee: None listed, check with CSR
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The UFB High Yield Savings and CIT Bank Savings Builder accounts offer great rates available nationwide. The Aspiration account has a nice sign-up bonus plus great rate.
|Discover Bank Online Savings||$200 Cash + 0.40% APY||Review|
|Aspiration||1.00% APY + $100 Cash||Review|
|Axos Bank High-Yield Savings||Up to 0.61% APY||Review|
|Quontic Bank High Yield Savings||0.55% APY||Review|
|CIT Bank Money Market||0.45% APY||Review|
|CIT Bank Savings Builder||0.40% APY||Review|
How to Earn PenFed Credit Union Rate
- Open a Online Savings account from PenFed Credit Union with an opening deposit of $0.60
- Input your info – Provide your name, address, phone, email and social security number or Tax ID.
- Fund the account – Transfer funds electronically from an internal account here or an external account at another bank.
|Balance Requirement||APY Rate|
PenFed Credit Union Account Features
- Earn a promotional rate for one year of 0.50% APY on new money not already on deposit at PenFed
- Member discounts
- Advice Center
- Financial Hardship Center
- Free Online Transfers
Check out PenFed Credit Union and open a Online Savings Account with a 0.50% APY! The fact that you can earn a high rate on any balance makes this Savings Account all worthwhile. Let us know about your experience with this bank and comment below. There are many benefits to opening this account such as a high rate, FDIC insured, and pretty much no fees.
Let us know about your experience with this bank and comment below.
Check back often to see the latest info on PenFed Credit Union Online Savings.