USAA Savings Account Interest Rate
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Looking to open a savings account with USAA Federal Savings Bank? Read on to learn what rates are being offered.
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USAA Federal Savings Bank offers various financial products for its members. They do have a couple of savings accounts offered, but their rates may not be that impressive.
Continue reading to learn the latest USAA savings rates and account features.
USAA Performance First®
| Daily Collected Balance | APY |
|---|---|
| Less than $10,000 | 0.05% |
| $10,000 to $49,999.99 | 0.05% |
| $50,000 to $99,999.99 | 0.07% |
| $100,000 to $499,999.99 | 0.10% |
| $500,000 and more | 0.50% |
USAA Savings Account Interest Rates
USAA offers three savings accounts. The rates are generally low on all accounts, ranging from 0.01% APY on their standard and youth accounts up to 0.50% APY on their premium savings account.
- USAA Savings: standard savings account with no monthly fees. $25 minimum deposit to open.
- USAA Performance First®: Up to 0.50% APY depending on your balance. $10,000 minimum deposit to open.
- USAA Youth Savings: For kids and teens under 18 years old. No monthly fees with a $25 minimum deposit to open.
Now, let's take a closer look at the three accounts.
USAA Savings
USAA Savings has a 0.01% APY on all balance tiers which is not very competitive. It also requires a minimum opening deposit of $25.
However, it has no monthly maintenance fees so you have one less thing to worry about. You can also request for an optional ATM card which allows you to withdraw cash and make deposits at select in-network ATMs.
USAA Performance First®
USAA Performance First® has higher rates than the standard account, allowing you to earn up to 0.50% on balances at or over $500,000.
There are no monthly charges, but you do need a $10,000 minimum deposit to open an account.
Here's a table showing the rates and their respective balance tiers:
| Daily Collected Balance | APY |
|---|---|
| Less than $10,000 | 0.05% |
| $10,000 to $49,999.99 | 0.05% |
| $50,000 to $99,999.99 | 0.07% |
| $100,000 to $499,999.99 | 0.10% |
| $500,000 and more | 0.50% |
USAA Youth Savings
USAA Youth Savings has 0.01% APY on all balance tiers with a minimum initial deposit of $25. It is available for children and teenagers under the age of 18.
Note: USAA Youth Savings converts to USAA Savings automatically when the minor reaches age 18.
This account is designed to help parents who want to kick-start their children's financial journey.
How Much Can You Earn with USAA Savings?
Here's a calculator you can use to see how much your money can grow with a USAA savings account.
Can You Lose Money with USAA Savings?
No, you can't lose money with any of the USAA savings accounts. USAA Federal Savings Bank is a member of the FDIC (Cert #32188), which means deposits are protected up to $250,000 for individual accounts.
However, fees for excessive transactions, out-of-network ATM withdrawals, and such can still eat into your earnings and reduce your balance.
Pros and Cons
Pros
- $0 monthly service charge
- Optional ATM card
Cons
- Low rates
- $25 or $10,000 opening deposit requirement
- High balance required to earn a decent APY
Should You Open a USAA Savings Account?
USAA Bank's savings accounts are best for current and former members of the U.S. military and their eligible family members. Each account is a decent and safe place to store your money.
If you have a significant amount to save, consider USAA Performance First® over the basic one for a slightly higher APY.
However, overall, USAA savings rates are not the best. So if you want to get a higher APY, you might want to consider high-yield savings accounts offered by other banks or credit unions instead.
Who Is Eligible to Open an Account?
You must be a member of the USAA to open any of their savings accounts. To be eligible for membership, you must be affiliated with the military such as these below:
- Active duty
- National Guard
- Reserves
- Veterans who served honorably
- Cadets or Midshipmen
- Spouses and children of USAA members
First, you have to be a member of USAA to open an account. After confirming that you are eligible, opening an account can easily be done online.
Simply go to USAA's Savings page and hit Apply Now on the account you want to open to get started.
How USAA Savings Compares
CIT Bank Platinum Savings - 4.10% APY Boost
| Tier | Boost APY |
|---|---|
| Balance over $5,000 | 4.10%* |
| Balance less than $5,000 | 0.60%* |
After boost is completed, you will continue to earn our best standard rates:
| Tier | APY |
|---|---|
| Balance over $5,000 | 3.75%1 |
| Balance less than $5,000 | 0.25%1 |
- Needs to use promo code to qualify: CITBoost
- Boost lasts 6 months over standard APY
- Tiered account
- $100 minimum account opening
- Member FDIC
- No Monthly Service fees
- No account opening fees
High-Yield Savings Premier - 3.80% APY
- No account fees
- Option to open individual or joint account
- FDIC insured up to $250,000 per depositor
- Only $500 minimum opening deposit
High Yield Savings Account - 3.86% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- FDIC insured
High-Yield Savings Account - 3.96% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- FDIC insured
Other USAA Bank Accounts
If you're a USAA Bank member, they also have checking accounts and certificate of deposits that you can consider in case their savings account don't make the cut for you.
USAA Bank: Personal Checking Account - $300 Bonus
Open a new USAA Classic Checking account. Set up and receive a qualifying direct deposit of $500 or more within 90 calendar days after account opening.
USAA Bank: Youth Spending Account
- No monthly fee
- Minimum opening deposit of $25
- No overdraft fee
- FDIC insured
USAA Bank: 6-Month CD - 2.00% APY
USAA Bank: 9-Month CD - 2.00% APY
USAA Bank: 9-Month Jumbo CD - 2.00% APY
USAA Bank: 1-Year CD - 1.80% APY
USAA Bank: 18-Month CD - 1.65% APY
USAA Bank: 2-Year CD - 1.40% APY
USAA Bank: 30-Month CD - 1.30% APY
USAA Bank: 3-Year CD - 1.30% APY
USAA Bank: 4-Year CD - 1.25% APY
USAA Bank: 5-Year CD - 1.25% APY
Bottom Line
USAA Federal Savings Bank has a couple of savings accounts that are exclusive to its members. However, the rates they offer are not the best, especially compared to what online banks have.
If you're opening a savings account to grow your funds, you might want to check out some high-yield savings account options instead.
Chase Total Checking® - $400 Bonus
- New Chase checking customers can receive $400 when you open a Chase Total Checking® account and make direct deposits totaling $1,000 or more within 90 days of coupon enrollment.
- Unlock more offers with Chase. Get up to $500 per calendar year by referring friends and family. Plus, get cash back from top brands with Chase Offers when you use your debit card.
- Chase Total Checking® has a $15 monthly service fee, you can easily avoid the fee with direct deposits totaling $500 or more, or a minimum average daily balance each statement period.
- Chase Overdraft Assist℠ – no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
- Chase Mobile® app makes banking simple. Manage accounts, pay bills, send money to friends with Zelle® and deposit checks on the go with Chase Quick Deposit℠.
- Chase has the largest branch network in the U.S. with thousands of ATMs and branches. Use the Chase locator tool to find a branch or ATM near you.
- Chase helps keep your money protected with features like Zero Liability Protection, fraud monitoring and card lock.
- Chase Total Checking includes FDIC insurance up to the maximum amount allowed by law.
Bank of America Advantage Plus Banking® - Up to $500 Bonus Offer
- New checking customers only: Get a bonus offer up to $500 after completing qualifying transactions. See offer page for more details
- Bank of America N.A. Member FDIC.
CIT Bank Platinum Savings - 4.10% APY Boost
| Tier | Boost APY |
|---|---|
| Balance over $5,000 | 4.10%* |
| Balance less than $5,000 | 0.60%* |
After boost is completed, you will continue to earn our best standard rates:
| Tier | APY |
|---|---|
| Balance over $5,000 | 3.75%1 |
| Balance less than $5,000 | 0.25%1 |
- Needs to use promo code to qualify: CITBoost
- Boost lasts 6 months over standard APY
- Tiered account
- $100 minimum account opening
- Member FDIC
- No Monthly Service fees
- No account opening fees
HSBC Premier - Up to $5,000
Discover all that Premier can do for you
- Earn our best savings rate with a Premier Relationship Savings account for an introductory period and thereafter if you qualify
- Send money internationally, securely, quickly and fee-free in the HSBC mobile app with our award-winning HSBC Global Money Transfers
- Enjoy peace of mind with unique travel benefits available through our credit cards
Here's how the offer works
- Open a Premier checking account by June 30, 2026
- Add your desired level of deposits and/or eligible investments within 20 days
- Get $1,500: Deposit or invest $150,000 to $249,999
- Get $2,500: Deposit or invest $250,000 to $499,999
- Get $3,500: Deposit or invest $500,000 to $999,999
- Get $5,000: Deposit or invest $1,000,000+
- Maintain your balances for 3 full consecutive months
- Remain opted-in to receive HSBC marketing emails
If all offer requirements are met, the bonus will be paid within 8 weeks.
No-Fee Business Checking
- $0 monthly service fee
- $0 minimum opening deposit
- Open up to 20 individual business checking accounts
- Earn up to 3.00% APY with automated savings
- Issue up to 50 Visa® debit cards to your team
Write to Darlene Santos at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
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