What you need to open a Navy Federal savings account
Navy Federal will open a savings account for you in person at a branch, by phone, or online through their website. The fastest route is online if you have a government-issued ID and a Social Security number. You'll also need a way to fund the account — a debit card, another bank account, or cash if you go to a branch.
The membership requirement is the real gate. Navy Federal is a credit union, not a bank, so you can only join if you fall into one of their membership categories: active or retired military, veterans, Department of Defense civilians, or family members of people in those groups. If you don't meet one of those categories, you cannot open an account, and no workaround exists.
If you're already a Navy Federal member with a checking account, opening a savings account takes about five minutes online or by phone. If you're not yet a member but you do may have access to, you'll set up membership at the same time you open the savings account.
Key Takeaways
- You must be military, a veteran, a DoD civilian, or a family member of one of those to join Navy Federal — membership is not open to the general public.
- Online account opening requires a government-issued ID, Social Security number, and a way to fund the account, and takes about 10 to 15 minutes.
- Navy Federal savings accounts have no monthly maintenance fee and no minimum balance requirement, though the interest rate varies and is set by Navy Federal.
- If you open online, your account is usually ready to use the same day, though transfers from outside banks may take one to three business days to clear.
- You can manage your savings account through Navy Federal's website, mobile app, or by calling their member services line.
Opening an account online
Go to navyfederal.org and select "Open an Account" from the homepage. You'll be asked whether you want to open a savings account, checking account, or both. Choose savings account. The form will ask for your name, date of birth, Social Security number, address, phone number, and email.
Next, you'll verify your identity. Navy Federal will ask you to upload a photo of a government-issued ID — a driver's license, passport, or military ID all work. They'll also ask security questions based on your credit history to confirm you are who you say you are. This step usually takes a few minutes.
Then you'll confirm your membership category. Navy Federal will ask whether you're active duty, retired, a veteran, a DoD civilian, or a family member, and will ask for proof — your military service number, veteran status, or the sponsor's information if you're joining as a family member. Have that information ready before you start.
Finally, you'll fund the account. You can transfer money from another bank account (which takes one to three business days), use a debit card (which posts when ready), or wait to fund it later. Your account opens the same day, but if you transfer from another bank, that money won't show up until the transfer clears.
Opening an account by phone or in person
Call Navy Federal's member services line at 1-888-842-6328 to open an account by phone. A representative will walk you through the same questions as the online form and will verify your identity by asking security questions. You'll need your Social Security number, address, and phone number ready. The call usually takes 15 to 20 minutes.
If you prefer to open an account in person, find a Navy Federal branch near you on their website and visit during business hours. Bring a government-issued ID, your Social Security number, and proof of your military or DoD affiliation. A branch representative will complete the paperwork and can fund your account with cash or a debit card on the spot. Your account opens the same day.
Phone and in-person openings follow the same timeline as online: your account is ready to use when ready, but transfers from other banks take one to three business days to clear.
What Navy Federal savings accounts cost
Navy Federal savings accounts have no monthly maintenance fee and no minimum balance requirement. You can open an account with as little as $1 and never be charged for holding it open.
Navy Federal does pay interest on savings balances, but the rate changes and is set by Navy Federal based on market conditions. Check their website or call member services for the current rate before you open. The rate you receive may also depend on your account balance — some credit unions offer higher rates on larger balances, though Navy Federal's structure varies.
You will not be charged for transfers between your Navy Federal accounts, for deposits, or for withdrawals made in person or by phone. Online transfers to accounts at other banks are also free. ATM withdrawals at Navy Federal ATMs are free; withdrawals at out-of-network ATMs may carry a fee depending on the ATM operator.
Funding your account and moving money in
You can fund a new Navy Federal savings account three ways: transfer from another bank account, use a debit card, or deposit cash at a branch.
Bank transfer: Provide Navy Federal with your other bank's routing number and your account number at that bank. Navy Federal will pull the money from that account. This takes one to three business days. You can set up a one-time transfer or a recurring transfer on a schedule you choose.
Debit card: Enter your debit card number during account setup. The charge posts when ready, and the money appears in your Navy Federal account the same day. You can use any debit card, not just a Navy Federal card.
Cash deposit: If you open an account in person at a branch, you can deposit cash when ready. If you already have a Navy Federal account, you can deposit cash at any Navy Federal branch or ATM.
After your account opens
Your Navy Federal savings account comes with online access through their website and a mobile app for iOS and Android. You can check your balance, transfer money between your Navy Federal accounts, set up automatic transfers, and view your transaction history anytime.
Navy Federal does not issue a debit card for savings accounts — savings accounts are for holding money, not spending from. If you want a card to spend with, you'll need a Navy Federal checking account. You can open both at the same time.
If you have questions about your account after it opens, call Navy Federal member services at 1-888-842-6328. They're available Monday through Friday during business hours and can help with transfers, balance questions, or account changes.
Frequently Asked Questions
Can I open a Navy Federal savings account if I'm a military spouse but not active duty?
Yes. Navy Federal allows family members of active duty, retired, and veteran service members to join. You'll need to provide the sponsor's military service number or veteran status during the membership process. The sponsor does not need to be present or to open an account themselves.
How long does it take to open an account online?
The account setup takes about 10 to 15 minutes from start to finish. Your account opens the same day. If you fund it with a bank transfer, that money takes one to three business days to arrive. If you use a debit card, the money posts when ready.
What if I don't have a government-issued ID?
You'll need a government-issued ID to open an account online or by phone. If you don't have one, visit a Navy Federal branch in person. A branch representative may be able to verify your identity using other documents, though policies vary by location. Call ahead to ask what documents they accept.
Can I open a savings account without opening a checking account?
Yes. You can open only a savings account. Many members do this if they want to keep money separate and don't need a debit card. You can open a checking account later if you change your mind.
What happens if I'm no longer may be able to access for Navy Federal membership?
Your existing account stays open and you keep access to it. Navy Federal does not close accounts because membership status changes. However, you won't be able to open new accounts once your membership ends. Contact Navy Federal if your status changes and you're unsure whether you still may have access to.