Education Savings Accounts
Get Started With an Education Savings Account
We make it convenient—complete the application and submit it at a branch or by e‑message, fax or mail.
Explore Our Accounts
Education Savings Account (ESA)
Whether you’ve already been on a long-term savings journey, or are just getting started, an ESA will help you grow your education savings tax-free.
Features:
- Add money anytimeFootnote [1]
- Access funds when you need them
- Earn tax-free if used for qualified education expenses
Minimum Deposit
as low as
$0
Education Money Market Savings Account
With an ESA Money Market Savings Account (MMSA), you can start with a $0 minimum balance—once you've reached a balance of $2,500, you'll start earning higher dividends.
Features:
- Access funds when you need them
- Enjoy high dividend rates
- Earn tax-free if used for qualified education expenses
- Add money anytimeFootnote [1]
ESA Money Market Savings Account Rates
| Minimum Deposit | APY |
|---|---|
| $0 to $2,499 | 0.00% |
| $2,500 to $9,999 | 0.80% |
| $10,000 to $24,999 | 0.90% |
| $25,000 to $49,999 | 0.95% |
| $50,000 and over | 1.35% |
A $2,500 minimum balance must be maintained to earn dividends.
Education Savings Accounts
All of Navy Federal’s education savings plan are Coverdell ESAs. Learn more about these accounts and how they compare to 529 Plans.
Want More Information About Saving?
Visit our Savings Learning Center for tips, tools and other resources.
Savings Resources
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Savings Rates
See how fast your savings can grow with standout rates on all our savings options.
Learn More about Savings Rates -
Choosing a Savings Account
Learn how different savings accounts work and how to choose the right one.
Learn More about Choosing a Savings Account -
Building an Emergency Fund
Create a safety net so you're ready when life throws a curveball.
Learn More about Building an Emergency Fund
Disclosures
Contributions can be made up to the maximum annual deposit amount of $2,000 per child per year.
↵Rates on variable accounts (e.g., Share Savings, Checking, MMSA) may change after the account is open. This APY is accurate as of 07/30/2026. Fees may reduce earnings.
↵A $2,500 minimum balance must be maintained to earn dividends on MMSA accounts.
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