Last Updated: 10/10/2025
Premium Online Savings Account
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in Savings Accounts from PenFed Credit Union
Last Updated: 10/10/2025
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Highlights
APY (Annual Percentage Yield)
Minimum Opening Deposit
Minimum Balance to Earn APY
Premium Online Savings Account Review
Key Takeaways
- Up to 3.00% annual percentage yield (APY). This account offers an annual percentage yield of up to 3.00%, which is much higher than the average for the checking accounts that we track (see terms and conditions for more details).
- No monthly maintenance fees. This account does not charge any monthly account fees.
- Small minimum initial deposit. You only need $5 to open an account.
Premium Online Savings Pros & Cons
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Premium Online Savings FAQ
Are savings accounts from PenFed Credit Union federally insured?
Does PenFed Credit Union offer a signup bonus?
What is the minimum initial deposit for Premium Online Savings?
The minimum deposit to open a Premium Online Savings is $5.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does PenFed Credit Union offer?
What fees does Premium Online Savings charge?
- Outgoing domestic bank transfers come with a $25 fee.
- Outgoing 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.
- Premium Online Savings charges $2 every time you request a paper statement.
What features and perks does Premium Online Savings offer?
- Fraud monitoring - Premium Online Savings monitors transactions for potentially fraudulent activity, such as when an account is accessed from a different location or there is a sudden string of suspicious transactions.
- Mobile Banking Services - Premium Online Savings 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.
Can you set up a direct deposit to Premium Online Savings?
What is the member customer support email for Premium Online Savings?
Premium Online Savings Account Disclosure: FEDERALLY INSURED BY NCUA. APY (Annual Percentage Yield) is accurate as of June 1, 2021 and is subject to change at any time. Fees may reduce earnings. $5 minimum to open the account. Premium Online Savings account holders must agree to electronic delivery of account opening disclosures and monthly statements.
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