SuperMoney
  Navy Federal Credit Union Basic Savings Account
Navy Federal Credit Union Basic Savings Account
in Savings Accounts from Navy Federal Credit Union · Insured by NCUA
Unaffiliated

Navy Federal Credit Union Basic Savings Account

Unaffiliated
in Savings Accounts from Navy Federal Credit Union · Insured by NCUA
SuperMoney Net Recommendation Score +100  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

Cast your vote

Would you recommend Navy Federal Credit Union Basic Savings Account to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
Community Rating Strongly recommended
Monthly Fee $0
APY (Annual Percentage Yield) 0.25%
Minimum Balance to Earn APY $5
Number of Reviews 5

Navy Federal Credit Union Basic Savings Account Review

Navy Federal Credit Union Basic Savings Account is offered by Navy Federal Credit Union, a credit union founded in 1933 and based in Vienna, VA. Navy Federal Credit Union Basic Savings Account are available in 50 states (and Washington, DC).

Key Takeaways

  • Higher than average APY. Navy Federal Credit Union Basic Savings Account has an annual percentage yield of up to 0.25%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $5 to earn that interest rate.
  • $0 monthly fee. This account does not charge any monthly account fees.
  • No minimum initial deposit. There is no minimum balance required to open an account online.
  • No ATM fees. Navy Federal Credit Union Basic Savings Account does not charge fees on ATM transactions.

Navy Credit Union savings account Pros & Cons

Pros Cons
  • Available in all 50 states.
  • Dividend-yielding account.
  • Insured by NCUA.
  • Access to physical branches.
  • Free debit card
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Higher than average wire transfer fees.

Navy Credit Union savings account FAQ

Are savings accounts from Navy Federal Credit Union federally insured?

Yes, your savings accounts are insured up to $250,000 per share owner for each account ownership category. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

Does Navy Federal Credit Union offer a signup bonus?

Navy Credit Union savings account has a signup bonus of $0.

What is the minimum initial deposit for Navy Credit Union savings account?

There is no minimum deposit to open a Navy Credit Union savings account.
Navy Federal Credit Union Basic Savings Account Minimums
Description
Minimum Balance to Earn APY $5
Minimum Opening Deposit Starting at $0

What APY does Navy Federal Credit Union Basic Savings Account offer?

Navy Credit Union savings account offers an APY of 0.25% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does Navy Credit Union savings account charge?

Navy Credit Union savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

  • Outgoing domestic bank transfers come with a $14 fee.
  • Outgoing international bank transfers come with a $25 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.

What features and perks does Navy Credit Union savings account offer?

This savings account includes the following features:

  • Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
  • Fraud monitoring - Navy Credit Union savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Navy Credit Union savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to Navy Credit Union savings account?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for Navy Credit Union savings account?

The customer support email for Navy Credit Union savings account is info@navyfederal.org.

How do people rate the customer service and user experience of Navy Credit Union savings account?

Overall, Navy Credit Union savings account is strongly recommended based on community reviews that rate customer service and user experience.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 7:00am - 5:00pm
  • Tuesday 7:00am - 5:00pm
  • Wednesday 7:00am - 5:00pm
  • Thursday 7:00am - 5:00pm
  • Friday 7:00am - 5:00pm
  • Saturday Closed

Other Services by Navy Federal Credit Union

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Balance to Earn APY $5
Minimum Opening Deposit Starting at $0
Monthly Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $14
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $25
Returned Deposit Fee (Domestic) $15
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of Identity
  • Proof of Residence
  • Government Issued Photo ID
  • Social Security Number
Bauer Financial A+/A Rating
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Nationwide ATM Network
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Insured by NCUA
  • Branch Access
Signup Bonus Starting at $0
APY (Annual Percentage Yield) 0.25%

Navy Federal Credit Union Basic Savings Account Community Reviews

 

Would you recommend Navy Federal Credit Union Basic Savings Account to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

sorted by

Other Savings Accounts