penfed savings up to 2% interest?

[Anonymous]

Anybody else get this email? i think its neat. Especially since ive been working at generating some kind of savings.

[Gmood1]

Yup I received the email. There's quite a few CUs and banks offering this rate or higher.

[Green456]

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@Anonymous wrote:

Anybody else get this email? i think its neat. Especially since ive been working at generating some kind of savings.

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Yeah I was surprised. PenFed looks really good for savings and CDs. Their rates are great.

[CBartowski]

Hey folks,

I had a few naysayers on my last post but wanted to let everyone know that PenFed's online savings account just received its 2nd rate increase in about a month's time (ish) up to a full 2%. Now while I agree there are other instutitions also offering similar rates and some would rather put cash into T-bills, this showes me that they're fighting to stay relevant. Something USAA still fails to do IMO. We just had one up to 1.85% now up to 2%.

But its 2% up to $100,000 which is pretty decent I think when compared with their other products.

Also no military service is required. Sooo there is that.

Hope everyone has a great holiday.

[Anonymous]

Thanks, Patriot36! I've been noticing these increases too. 

[CBartowski]

I agree! I've been posting stuff on these guys for a while. I think PenFed is doing a great job at staying relevant. I've noticed an increase in marketing emails from them, branching into student loans, scholarship searches, etc. 

I like the direction they're headed. 

[Anonymous]

I'm eligible, but not sure if I want to take the HP right now... They seem to be a pretty good one-stop shop for a lot of products though.

[mitchblue]

I just got an email today. I think it's awesome. I already started one up. Sure beats regular savings. I started PenFed about 3+ years ago and I'm glad I did.

[huzchris]

I'm already a member of PenFed, if I open up one of these accounts, will it result in a HP?

[Ardecko]

I opened a premium online savings a month or so ago, after being a member for less than a year. I just verified, no HP on EQ, and I've not seen it on recent wallethub or creditscorecard reports. You should be good there.