We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

USAA Savings account review

Last updated:  

Two free savings options for active and former military and their families.

finder.com’s rating: 3.9 / 5.0


Designed for members of the military and their families, USAA offers affordable banking products and strong customer service. The savings account has no monthly fee and offers tiered interest rates based on your initial deposit and account balance, but only up to 1.42%.






Minimum deposit to open


APY0.15% on balances of $10,000+
0.10% on balances of $1,000 to $9,999
0.09% on balances of $0 to $999
Minimum deposit to open$25
Interest compoundingDaily
Monthly transaction limit6
Fee per transaction over the limit$10
More Info

Expert review

Peter Carleton

Review by

Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.

Expert review

The USAA Savings account is best for members of the military and their families. The account comes with tools to help you save and is backed by top-tier customer service. You also won’t have to pay a monthly fee to maintain the account.

But you’ll only earn its 0.15% APY on balances of $10,000 or more and it only has five branches across the country.

What are the benefits of the USAA Savings account?

This FDIC-insured savings account keeps your money safe while you save and comes with a few other helpful features:

  • No monthly service fees. There’s no monthly charge to keep the account open.
  • Optional ATM card. You can get an ATM card that will give you fee-free access to over 60,000 ATMs.
  • Budgeting tools. This account comes with a goal planner and the option to set up automatic transfers.
  • Other products. USAA has a strong reputation for its insurance products, mortgages, checking accounts and more.
  • Top-rated customer service. The company has won multiple awards for customer service and is frequently praised by its customers.
  • Online tools. Despite only having a few branches, USAA’s online and mobile platforms help make banking more efficient and convenient.

What should I look out for?

Keep an eye out for these potential drawbacks:

  • Membership requirements. You won’t be able to open a USAA account unless you’re a current or former member of the military or an eligible family member.
  • Limited branches. USAA only has five branches across the country
  • Deposit requirements. The lower interest rate option requires a minimum deposit of $25, while the higher rate version requires an initial deposit of at least $10,000.
  • Low interest rates. You’ll only earn up to 0.15% APY if your initial deposit is below $10,000 or up to 1.42% if you open with $10,000 or more.

If you want an account with looser eligibility requirements or better rates, you’ll want to keep looking. As always, compare your options when choosing a savings account.

Compare with other savings accounts

Name Product Interest rate (APY) Fee Minimum deposit to open
Barclays Online Savings
Earn 20x the national savings account average with no fees or minimums.
American Express® Personal Savings High Yield Savings
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
BBVA Money Market
$15 per month
(can be waived)
Earn one of the highest annual percentage yields (APYs) if you live in one of 42 eligible states, and access your money by ATM, check or bill pay.
UFB Direct High Yield Savings
Earn a competitive rate with a balance higher than $10,000.
CIT Bank Savings Builder High Yield Savings Account
A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.
Radius Bank High-Yield Savings
A free high-interest savings account with a $100 minimum deposit to open

Compare up to 4 providers

How do I apply?

You can open this account online, but you’ll first need a USAA account:

  1. Visit the USAA website, click Products, then Savings Accounts.
  2. Scroll down and click Get Started.
  3. Click Join Online, then click Continue on the next page.
  4. Complete the eligibility form and submit your application.
  5. Once approved, set up online access for your account.
  6. Log on, then navigate to the savings page and click Get Started.
  7. Enter your personal information and all other details, then click Continue.
  8. Verify all details, select account preferences and fund your account.


  • Be at least 18 years old
  • Have a valid Social Security or Tax Identification number
  • Be a US citizen
  • Make an initial deposit of at least $25

Required information

  • Name, date of birth and address
  • Contact information such as phone number and email
  • Social Security or Tax Identification number
  • Military service information
  • Bank information to fund your account

How do I deposit or withdraw money?

Here’s how you can deposit and withdraw money once you’ve opened the account:


  • At a branch or ATM
  • Mobile check deposit
  • Direct deposit
  • Online, phone or wire transfer
  • By mail

  • At a branch or ATM
  • BillPay
  • Online, phone or wire transfer
  • By mail

How do I contact USAA customer service?

USAA makes it easy to get in touch with its top-rated customer service team:

  • Phone. Call 210-531-8722 on weekdays from 6:30 a.m. to 10 p.m. and Saturday 8 a.m. to 6 p.m. CT. Mondays are the busiest days so the best day to call is Tuesday through Friday.
  • Live chat. Visit the Help page to start a live chat.
  • Email. Log in to your online account to send a secure message
  • In person. Use the branch locator to find your nearest USAA branch.

Frequently asked questions

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site