USAA offers three savings account options: two for adults and one for kids under 18, with rates as high as 0.72%. USAA is a membership association that’s open to military members and their spouses, as well as children of USAA members.

The annual percentage yields (APYs) on USAA savings accounts are quite low compared to other savings accounts, especially the 澳洲幸运5开奖号码历史查询:best high-yield savings accounts. But they increase slightly at higher balances.

Compare USAA Savings Account Rates

USAA offers low APYs on its savings accounts, and you can find higher rates elsewhere. Compare USAA to some accﷺounts with high𓆏er yields below.

USAA Savings Accounts: Key Features

USAA’s basic savings account earns small APY across all balances. You can open a USAA savings account with a small minimum deposit, and ther🥃e are no monthly maintenance fees. 

USAA’s Performance First account offers slightly higher APYs, but it requires a minimum opening deposit of $10,000. 🔥The ☂APY you get depends on your balance; in general, the higher your balance, the more you’ll earn.

This account 🦩doesn’t charge mo💞nthly service fees. 

USAA also offers a Youth Savings account for savers under 18. Parents must open the account on th💯eir child’s behalf. Once the child turns 18, the account will convert🎃 into a regular USAA Savings account. 

The details of the Youth Savings account are otherwise similar to the USAA Savings account: a small APY across all balances, no monthly service fees, and a minim🌜um opening deposit of $25.

Pros and Cons of USAA Savings Accounts

Pros Explained

• No monthly maintenance fees: With USAA savings accounts (as well as the bank’s checking accounts, for that matter), members don’t have to worry about paying 澳洲幸运5开奖号码历史查询:monthly maintenance fees. Furthermore, there are no special hoops to jump through to qualify for fee waivers on these accounts, unlike many other banks.
• Automatic savings tools: USAA offers its members several automatic savings tools that can make growing their savings account balances easier. Members can take advantage of the bank’s text savings tool, recurring transfers tool, ATM rebates tool, and tax refunds tool, if desired.
• ATM reimbursement: USAA refunds its members up to $10 each month in ATM fees incurred when using non-USAA ATMs. Plus, the bank charges no fees for using any of its USAA ATMs or 100,000 preferred ATMs for withdrawals or deposits. 

Cons Explained

• APYs often lower than national average: Unless you deposit $50,000 or more in a USAA Performance First savings account, the interest rates the bank offers are likely to be significantly lower than the national average. But even if you deposit that much, you’ll still usually earn far less than you could with the 澳洲幸运5开奖号码历史查询:best high-yield savings accounts.
• Limited branch availability: USAA only offers five physical locations in the United States. Therefore, you should be comfortable receiving customer support online or via phone before choosing USAA as a banking option.
• Membership is limited: You can’t open a USAA savings account (or any other type of deposit account) unless you’re a current or former U.S. military member, a pre-commissioned officer, or an eligible spouse or child. Membership is free for eligible customers.

About USAA: Other Savings Options

Founded in 1922 as the United Services Automobile Association, USAA now serves millions of members affiliated with the military. To bank with USAA, you must be a U.S. military member or veteran, or a pre-commissioned officer. Spouses and children are eligible to join, as well. 

Along with savings accounts, 澳洲幸运5开奖号码历史查询:USAA also offers certificates of deposꦐit (ꦆCDs) to help you meet your savings goals. Plus, it provides a variety of other financial products and services, including loans, mortgages, 澳洲幸运5开奖号码历史查询:investing tools, and 澳洲幸运5开奖号码历史查询:insurance plans.

💧 If y🐷ou’re a USAA member, you might appreciate the convenience of doing all your banking within a single institution. If a high APY is your priority, however, you can find better rates from other banks.

Alternatives to USAA Savings Accounts

If you’re in the market for a new savings account, it’s wise to compare your options before making a final decision. Below are some alternatives to USAA sa🐓vings accou💖nts that might be a good fit for you. 

• High-yield savings accounts: The 澳洲幸运5开奖号码历史查询:best high-yield savings accounts typically offer interest rates that are well above the national average for savings accounts. Taking the time to find a bank that offers a higher APY can help grow your money at a faster rate in a low-risk environment.
• Certificates of deposit (CDs): Savers who are willing to lock away their cash for a specific period of time in exchange for a high interest rate may want to consider a certificate of deposit (CD). The 澳洲幸运5开奖号码历史查询:best CD rates typically offer great opportunities for savers without the worry of higher-risk investments.
• Money Market Accounts (MMAs): If you’re looking for a deposit account that offers the ability to write checks or spend with a card while earning a high APY on your savings, a money market account might suit you well. The 澳洲幸运5开奖号码历史查询:best money market accounts feature higher-than-average APYs and may come with numerous other benefits as well.
• Savings accounts with bonuses: In addition to looking for the highest interest rates available, you might also want to consider banks that offer bonuses to new customers. Some banks, for example, offer 澳洲幸运5开奖号码历史查询:savings account bonuses that could help you earn hundreds of extra dollars when you open a new account and complete a few qualifying activities. 
  

Frequently Asked Questions (FAQs)

Your Guide to Savings Accounts

• 澳𒆙洲幸运5开奖号码历史查询:What Is♍ a Savings Account and How Does It Work?
• 澳洲幸运💧5开奖🅠号码历史查询:What Is a High-Yield Savings Account?
• 澳洲幸运5开奖号码历史查询:How to Open a High-Yieldꦺ Savings Account
• 澳洲幸运5开奖号码历史查询:How to Close a Savings Account
• Besides a Savings Account, Where Is the Sꦯafest Place to Keep My Money?
• 澳洲幸运5开奖号码历史查询:H🔯ow Many Savings Accounts Should I Have?
• 澳洲幸运5开奖号码历史查询:How🍒 Savings Account Interest Rates Are Determined
• 澳洲幸运5开奖号码历史查🧸询:ꦓHow Interest Works on Savings Accounts
• 澳洲幸运5开奖号码历史查询:How Is a Savings Account Taxed?
• Money Market Fund vs. MMA vs. Savings Account: What’s the Dif💮ference?
• Certificates of Dep🦂osit (CDs) vs. Savings Accounts: Which Is Better for You?
• 澳洲幸运5开奖号码历史查询:4 Savings Accounts for Investors
• 澳洲幸运5开奖号码历史查询:Best High-Yield Savings Accounts
• 澳洲幸运5开奖号码历史查询:Best Savings Ac✤counts for Kids and T♛eens