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  Navy Federal Credit Union Basic Savings Account

Navy Federal Credit Union Basic Savings Account

in Savings Accounts from Navy Federal Credit Union · ncua

Unaffiliated

Navy Federal Credit Union Basic Savings Account

Unaffiliated

in Savings Accounts from Navy Federal Credit Union · Insured by NCUA

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.

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Highlights
Community Rating

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Monthly Fee $0
APY (Annual Percentage Yield) 0.25%
APY Minimum Balance $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 is 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 national average interest rate on savings accounts. Note that you must keep a minimum balance of $5.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • No minimum initial deposit. There is no minimum balance required to open an account.
  • No ATM fees. Navy Federal Credit Union Basic Savings Account does not charge fees on ATM transactions.
  • Bill pay. Pay your bills to practically anyone in the United States through Navy Federal Credit Union.
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 Navy Federal Credit Union 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
APY Minimum Balance $5
Minimum Opening Deposit Starting at $0

What APY does Navy Federal Credit Union 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?

In most cases, the answer is yes. 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.

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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
  • Washington, DC
  • 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
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

APY Minimum Balance $5
Minimum Opening Deposit Starting at $0
Monthly Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0
Returned Deposit Fee (Domestic) $15
Wire Transfer Fee - Domestic (Outgoing) $14
Wire Transfer Fee - International (Outgoing) $25
Bauer Financial A+/A Rating
Account Features
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
  • Check Images with Statement
  • Debit Card
  • Fraud Monitoring
  • Free Bill Pay
  • Interest Bearing Account
  • Mobile Banking
  • Mobile Check Deposit
  • Nationwide ATM Network
  • Insured by NCUA
  • No ATM Fees
  • No Monthly Maintenance Fee
APY (Annual Percentage Yield) 0.25%

Navy Federal Credit Union Basic Savings Account Community Reviews

 

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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.

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