Unlike the Basic Savings account, Navy Federal’s Money Market Savings Account pays a yield that varies based on the size of your deposit. Savers will need to deposit at least $10,000 to earn the top yield on this account. The account doesn’t have a minimum deposit requirement to open, but you’ll need at least $2,500 to earn interest. The account has no monthly fee and offers check-writing ability.
Navy Federal also offers a Jumbo Money Market Savings Account, which requires a $100,000 minimum deposit to earn the higher yield offered on these accounts.
The Money Market Savings Account offers a higher yield than the Basic Savings.
The account doesn’t charge a monthly fee and offers check-writing ability.
There’s no minimum deposit requirement to open the account.