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. You will need a valid government-issued ID, your Social Security number, and proof of your current address (a utility bill, lease, or bank statement dated within the last 60 days). If you are opening the account online or by phone, you will also need a debit card or checking account at another financial institution to fund the initial deposit.
The minimum opening deposit is $25. Navy Federal does not charge a monthly maintenance fee on savings accounts, and there is no minimum balance requirement to keep the account open. You can start with $25 and add to it whenever you want.
If you are military-connected—active duty, retired, veteran, or a family member of someone in the military—you already meet Navy Federal's membership requirement. If you are not military-connected, you may still open an account if a current Navy Federal member sponsors you, or if you work for the Department of Defense or are employed by certain federal agencies. Check Navy Federal's membership page to confirm your may be able to access before you begin.
Key Takeaways
- You need a valid government ID, Social Security number, proof of address, and a $25 opening deposit to start a Navy Federal savings account.
- Navy Federal offers online, phone, and in-person account opening, and the fastest route is usually online if you have a debit card from another bank ready.
- There is no monthly fee and no minimum balance requirement, so you can open an account and leave it dormant if you need to.
- If you are not military-connected, you must either be sponsored by a current member or work for the Department of Defense or certain federal agencies.
Opening an account online
Go to Navy Federal's website and select "Open an Account" from the homepage. You will be asked to enter your email address and create a login. Navy Federal will then walk you through a series of questions about your identity, address, and employment. Have your ID and Social Security number ready.
Next, you will need to verify your identity. Navy Federal uses a third-party service to confirm your information against public records. This usually takes a few minutes. If the system cannot verify you automatically, Navy Federal will ask you to upload a photo of your ID and a selfie, or to answer security questions based on your credit history.
Once your identity is verified, you will link a debit card or checking account from another bank to fund your opening deposit. Navy Federal will send two small test deposits (usually less than $1 each) to that account, and you will need to confirm the amounts to prove you control the account. This process typically takes one to two business days. After confirmation, your Navy Federal savings account will be active and ready to use.
Opening an account by phone
Call Navy Federal's member services line at 1-888-842-6328. A representative will verify your identity by asking for your Social Security number, date of birth, and address. They will also ask about your employment and the source of your opening deposit.
The representative will explain the account features and answer any questions you have. They will then take payment information—either a debit card number from another bank or routing and account numbers for a checking account—to process your $25 opening deposit. The call usually takes 10 to 15 minutes.
After the call ends, Navy Federal will mail you a debit card and checks (if you request them) to the address on file. Your account will be active immediately, and you can log in online or use the Navy Federal mobile app to manage it right away. The debit card typically arrives within 7 to 10 business days.
Opening an account in person at a branch
Find a Navy Federal branch near you using their branch locator on the website. Bring your government-issued ID, Social Security number, and proof of your current address. You will also need to bring your $25 opening deposit—cash, a check, or a debit card to process.
A Navy Federal representative will review your information, answer questions, and open the account while you wait. The entire process takes about 15 to 20 minutes. You will receive a temporary debit card on the spot (or be told when a permanent card will arrive), and your account will be active immediately. If you opened the account with cash or a check, the deposit will post the same day.
What happens after you open the account
Once your account is open, you can deposit money by transferring it from another bank account, depositing cash or checks at a Navy Federal branch or ATM, or having your employer direct-deposit your paycheck. Navy Federal has no monthly fee and no minimum balance, so there is nothing else you need to do to keep the account open.
Navy Federal's savings accounts earn interest, though the rate changes based on market conditions. You can check the current rate on their website. Interest is compounded daily and posted to your account monthly. You can withdraw money from your savings account at any time, but federal law limits you to six withdrawals per month (this rule applies to all savings accounts at all banks). After six withdrawals in a calendar month, Navy Federal may charge a fee or convert your account to a checking account.
You can manage your account online, through the Navy Federal mobile app, by phone, or in person at a branch. You can also set up automatic transfers from a checking account to your savings account if you want to save a fixed amount each month.
Funding your account after opening
The easiest way to add money after your opening deposit is to transfer it from another bank account. Log into your Navy Federal account online or in the app, select "Transfer Money," and choose the external account you want to transfer from. Navy Federal will ask you to verify the account by confirming two small deposits (the same process you used to open the account). After verification, transfers usually take one to two business days.
You can also deposit cash or checks at any Navy Federal branch or at Navy Federal ATMs. Cash deposits post immediately. Check deposits typically post within one business day. If you have direct deposit set up with your employer, you can have your paycheck deposited straight into your Navy Federal savings account—just provide your Navy Federal routing number and account number to your employer's payroll department.
Frequently Asked Questions
Can I open a Navy Federal savings account if I am not military?
You can open an account if you work for the Department of Defense, certain federal agencies, or if a current Navy Federal member sponsors you. Check Navy Federal's membership page to see if your employer qualifies. If not, ask a military family member or friend who is already a member to sponsor you.
How long does it take to open an account online?
The online application takes about 10 minutes to complete. Identity verification usually happens instantly, but if Navy Federal needs to review your information manually, it may take a few hours. Linking an external bank account for your opening deposit takes one to two business days because Navy Federal sends test deposits you must confirm.
What is the difference between Navy Federal savings and checking accounts?
Savings accounts earn interest and limit you to six withdrawals per month. Checking accounts do not earn interest but allow unlimited withdrawals and come with a debit card and checks. Both have no monthly fee at Navy Federal. Many members keep both and use checking for everyday spending and savings for money they want to set aside.
Can I open multiple savings accounts at Navy Federal?
Yes. You can open as many savings accounts as you want and give each one a nickname (like "Emergency Fund" or "Vacation") to keep track of your goals. Each account earns interest separately and counts toward your six-withdrawal monthly limit.
What if I do not have a debit card from another bank to link during online opening?
Call Navy Federal at 1-888-842-6328 or visit a branch in person. Both options let you fund your opening deposit without needing an external debit card. You can also ask a family member to transfer money to you after you open the account, then deposit that into your Navy Federal savings account.