Navy Federal Credit Union Savings Account Rates


The Navy Federal Credit Union offers a basic savings account option, the Shared Savings Account. Active duty military, veterans, their families, and Department of Defense personnel can join the credit union by making a $5 refundable deposit into the savings account. Navy Federal pays an annual percentage yield (APY) well above the national average, and interest is compounded monthly.

In addition to Share Savings, NFCU offers two money market accounts that generate tiered interest rates based on account balance.

Overall, Navy Federal Credit Union earned 4.6 out of 5 stars from Bankrate, with a score of 3.9 for its savings account and 4.7 for its money market accounts.

Navy Federal Credit Union Savings Rate

Here is a breakdown of Navy Federal savings rates as of February 25, 2022.

Account name APY Minimum deposit
Share savings account 0.25% $5

Navy Federal also offers a Money Market Savings Account and a Jumbo Money Market Savings Account with tiered variable APYs. A minimum daily balance of $2,500 is required to earn dividends for standard MMAt; the MMA jumbo requires $100,000 to earn the highest APY.

Account name APY Minimum daily deposit
Money market savings 0.00% $0 to $2,499
Money market savings 0.40% $2,500 to $9,999
Money market savings 0.45% $10,000 to $24,999
Money market savings 0.45% $25,000 to $49,999
Money market savings 0.45% $50,000 or more
Jumbo Money Market Savings 0.25% $0 to $99,999
Jumbo Money Market Savings 0.50% $100,000 to $249,999
Jumbo Money Market Savings 0.50% $250,000 or more

How Navy Federal Credit Union Compares to Top Performing Banks

Navy Federal Credit Union savings and money market accounts pay well above the national averages. But the credit union requires a high minimum balance of $100,000 to earn the best APY, considerably higher than other banks. Vio Bank, for example, offers a very competitive rate on its money market account and only requires a minimum deposit of $100.

One of the benefits of Navy Federal Savings and Money Market Accounts is that there are no monthly service fees.

How to Become a Navy Federal Credit Union Member

To take advantage of Navy Federal Savings Accounts, you must be a member. Membership is available to those who serve or have served in the U.S. Armed Forces and their family and household members, as well as Department of Defense civilians.

Navy Federal has over 11 million members. Members can access their accounts online, using the Navy Federal mobile app, or by visiting a branch or ATM. The NFCU website offers a variety of educational content related to savings, as well as a savings calculator to help you plan your financial goals.

Other Savings Options at Navy Federal Credit Union

In addition to a basic savings account and higher-interest money market accounts, Navy Federal Credit Union offers stock certificates, or CDs, for short- and long-term savings. . For short-term savings goals, like a down payment on a new car, there are CDs with terms as short as three months.

Finally, Navy Federal offers Education Savings Accounts (ESA) and traditional IRAs and Roth IRAs for retirement savers.

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