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USAA Bank has two main savings accounts. The most basic is the USAA Savings Account, and its premium option is the USAA Performance First Savings Account.
These two accounts pay different savings rates, so the best option will likely depend on your account balance.
USAA Savings Rates
The USAA Savings Account pays 0.01% APY, regardless of what your balance is.
The USAA Performance First Savings Account has a tiered interest rate system. You don't start to earn a decent rate until you have tens of thousands of dollars in your account, though. Here's how the tiered interest rate works:
| Balance | APY |
| Under $10,000 | 0.05% |
| $10,000 to $24,999.99 | 0.10% |
| $25,000 to $49,999.99 | 0.10% |
| $50,000 to $99,999.99 | 1.00% |
| $100,000 to $249,999.99 | 1.10% |
| $250,000 to $499,999.99 | 1.20% |
| $500,000+ | 1.60% |
USAA also has a savings account specifically for kids. The USAA Youth Savings Account is an option for children under 18, with access and tools for parents. It pays 0.01% APY.
Ultimately, USAA is one of the best banks for the military, but savings rates aren't its strong suit. You could earn a much higher interest rate with an online bank that allows a smaller opening deposit.
Compare Today's Savings Rates
USAA Savings Rates Pros and Cons
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How USAA Savings Rates Compare
USAA Savings vs. Navy Federal Savings
Navy Federal Credit Union is the more appealing option for savings accounts. The Navy Federal Credit Union Share Savings Account pays 0.25% APY, which is higher than USAA's standard savings account.
Furthermore, Navy Federal Credit Union's money market account has a lower minimum opening deposit than the USAA Performance First Savings Account, and pays 0.00% to 1.50% APY depending on your account balance.
Navy Federal Credit Union Review
USAA Savings vs. PenFed Savings
If you're looking for a competitive savings account, Pentagon Federal Credit Union is a better option than USAA. The Pentagon Federal Credit Union Premium Online Savings Account pays 3.00% APY, which is much higher than USAA's savings accounts.
However, keep in mind PenFed is a credit union while USAA is a bank. This means all members need to open a savings account with $5 first, before opening another type of bank account.
Pentagon Federal Credit Union Review
Why You Should Trust Us: How We Reviewed USAA Savings Accounts
We rate bank accounts on a scale from zero to five stars. For our USAA saving rates review, we used our bank account methodology, which looks at interest rates, minimum opening deposits, monthly service fees, customer support availability, mobile app ratings, and the ethics of the company to rate savings accounts.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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