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  PenFed Credit Union Premium Online Savings Account

PenFed Credit Union Premium Online Savings Account

in Savings Accounts from PenFed Credit Union

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PenFed Credit Union Premium Online Savings Account

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in Savings Accounts from PenFed Credit Union

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Highlights
Highlights
APY 1.65%
APY Minimum Balance N/A
Monthly Fee N/A

PenFed Credit Union Premium Online Savings Account Review

PenFed Credit Union Premium Online Savings Account is offered by PenFed Credit Union, a credit union founded in 1935 and based in Alexandria, VA. PenFed Credit Union Premium Online Savings Account is offered in 50 states (and Washington, DC).

Are savings accounts from PenFed Credit Union federally insured?

Yes, your PenFed Credit Union savings accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. 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.

What APY does PenFed Credit Union offer?

PenFed Credit Union Premium Online Savings Account offers an APY of 1.65% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

What features and perks does PenFed Credit Union Premium Online Savings Account offer?

This account includes the following features:

PenFed Credit Union Premium Online Savings Account Features
Description
Bank Account Features
  • Automatic Savings
  • Bauer Financial A+/A Rating
  • Fraud Monitoring
  • Interest Bearing Account
  • Mobile Banking
  • Mobile Check Deposit
  • NCUA Member
  • No Monthly Maintenance Fee
  • Automatic savings - Set up an automatic transfer from your checking account to a savings account and you'll never have to second-guess your saving decisions again.
  • Fraud monitoring - PenFed Credit Union Premium Online 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.

What fees does PenFed Credit Union Premium Online Savings Account charge?

PenFed Credit Union Premium Online Savings Account does not charge a monthly maintenance fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fee if you have a minimum daily balance of $5.

  • Outgoing domestic bank transfers come with a $20 fee.
  • Outoing international bank transfers come with a $30 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • PenFed Credit Union Premium Online Savings Account charges $1 every time you request a paper statement.
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Availability

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

Minimum Balance to Avoid Monthly Fee $5
Paper Statement Fee $1
Returned Deposit Fee (Domestic) $5
Wire Transfer Fee - Domestic (Outgoing) $20
Wire Transfer Fee - International (Outgoing) $30
Bank Account Features
  • Automatic Savings
  • Bauer Financial A+/A Rating
  • Fraud Monitoring
  • Interest Bearing Account
  • Mobile Banking
  • Mobile Check Deposit
  • NCUA Member
  • No Monthly Maintenance Fee
APY 1.65%

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PenFed Credit Union Savings Accounts

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Reviews

APY

APY Minimum Balance

Monthly Fee

PenFed Credit Union Regular Savings Account
APY 0.05% APY
APY Minimum Balance N/A APY Minimum Balance
Monthly Fee N/A Monthly Fee